Mode of repayment of certain loans or deposits No branch of a banking company or a co-operative bank and no other company or co-operative society and no firm or other person shall repay any loan or deposit made with it or any specified advance received by it otherwise than by an account payee cheque or […]

Mode of taking or accepting certain loans, deposits and specified sum No person shall take or accept from any other person (herein referred to as the depositor), any loan or deposit or any specified sum, otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through a

Chapter not to extend to State of Jammu and Kashmir [Omitted by the Jammu and Kashmir Reorganisation (Adaptation of Central Laws) Order, 2020, w.e.f. 18-3-2020.] Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI

Powers of competent authority The competent authority shall have, for the purposes of this Chapter, all the powers that a Principal Commissioner or Commissioner has, for the purposes of this Act, under section 131. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice |

Assistance by Valuation Officers (1) The competent authority may,— (a)  for the purpose of initiating proceedings for the acquisition of any immovable property under section 269C or for the purpose of making an order under section 269F in respect of any immovable property, require a Valuation Officer to determine the fair market value of such property and report the

Chapter not to apply where transfer of immovable property made after a certain date The provisions of this Chapter shall not apply to or in relation to the transfer of any immovable property made after the 30th day of September, 1986. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing |

Payment or deposit of compensation 1) The amount of compensation payable in accordance with the provisions of section 269J for the acquisition of any immovable property shall be tendered to the person or persons entitled thereto, as soon as may be, after the property becomes vested in the Central Government under sub-section (4) of section 269-I : Provided that in

Compensation (1) Where any immovable property is acquired under this Chapter, the Central Government shall pay for such acquisition compensation which shall be a sum equal to the aggregate of the amount of the apparent consideration for its transfer and fifteen per cent of the said amount : Provided that in a case where, under the

Properties liable for acquisition under this Chapter not to be acquired under other laws Notwithstanding anything contained in the Land Acquisition Act, 1894 (1 of 1894), or any corresponding law for the time being in force, no immovable property referred to in section 269C shall be acquired for any purpose of the Union under that

Vesting of property in Central Government (1) As soon as may be after the order for acquisition of any immovable property made under sub-section (6) of section 269F becomes final, the competent authority may, by notice in writing, order any person who may be in possession of the immovable property to surrender or deliver possession thereof to