Inheritance Tax in India

The general perception is that there are no inheritance taxes or estate duties or death taxes in India. The Estate Duty Act, 1953 was abolished (technically suspended, not repealed) in 1985 meaning that there is no estate tax at the central government level. However, the perception that there are no inheritance taxes in India is…

VALIDITY OF A HIRE PURCHASE CONTRACT

1. IS AN AGREEMENT OF HIRE PURCHASE STILL VALID AFTER THE REPEAL OF THE HIRE-PURCHASE ACT, 1972 BY THE HIRE-PURCHASE (REPEAL) ACT, 2005? Yes. 2. Why? The Hire Purchase Act, 1972 was enacted by the Parliament of India to “TO DEFINE AND REGULATE THE RIGHTS AND DUTIES OF PARTIES TO HIRE- PURCHASE”. However, the commencement…