Web8 Jul 2024 · Section 56 (2) (x) of the IT Act stipulates that where certain assets, including shares and securities are received for a value which is less than their fair market value (“ FMV ”), then the difference between the FMV and actual consideration paid would be subject to tax in the hands of the recipient under the ‘other incomes’ head. Web14 Aug 2024 · Section 56 of the Contract Act 1950 lays down the law relating to the effects of time to the contract. Under Section 56 (1), when a party to a contract fails to perform his promises at or before the specified time, the contract becomes voidable at the option of promise, if the time is essence of the contract.
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Web13 Apr 2024 · Section 14 (1) of the Employment Act 1955 (the “Act”) indicates that a misconduct may be the ground of employment termination if such act was inconsistent with the fulfilment of the express or ... WebThe cost for a S.56 permit is £179.74 Application for consent to: Execute works, conduct operations, excavate, place & retain apparatus in road (Excluding work connected with building operations... hinckley vs united states
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Web13 Jan 2024 · Explanation to clause (vii) of Section 56 (2) gives the definition of ‘Relatives’ for the purpose of exemption from income tax in the case of gifts as follows: For the purpose of this section, “relative” means: In case of an individual- Spouse of an individual Brother or sister of the individual Brother or sister of the spouse of the individual WebUnder Section 56 (2), the company may issue a notice in writing to any other person who has an interest in any of the voting shares in the company. The notice will require such … Web10 Oct 2024 · Section 56 of GST – Interest on delayed refunds. Check Details for GST Section 56 This section provides for payment of interest on delayed refunds beyond the period of sixty days from the date of receipt of application to avoid delays in sanction or grant of refund. Must Read – List of all sections of GST homeless project scotland accounts