Insights

Barakah Finserve

Use single ink to fill in your cheques

Negotiable Instruments Act’s Section 87 says a material alteration in a negotiable instrument renders it void, the only exception being when the other party consents to the alteration.If you are issuing a cheque in question, ensure that you ‘cross’ the cheque

Barakah Finserve

If one of tenants-in-common dies, the share devolves on legal heirs

In the event that parents held the plot as tenants- in-common, then on the death of father, his share in the plot will devolve upon his heirs.The registration of a Will is optional and a Will does not require to be stamped

Barakah Finserve

Deadline for filing income tax returns extended to 31 August

CBDT says taxpayers were facing difficulties in filing returns due to extension of deadline for issuing Form 16.The extension is applicable to all assessees other than corporate taxpayers and a few non-corporate entities