Rule 42: Industrial Investment Corporation, if its income from interest is related to following categories of
Is rule section 56 ke under kisi action karne ke liye fix time limit batata hai. Time limit cross karne par penalty, disallowance, ya rejection ka risk hota hai.
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Bare law
Rule 42 - Industrial Investment Corporation, if its income from interest is related to following categories of bad or doubtful deb
42. (1) The provisions of section 56 shall apply in the case of every public financial institution, scheduled bank, State Financial Corporation and State Industrial Investment Corporation, if its income from interest is related to following categories of bad or doubtful debts:–– (a) in relation to a loan or advance, where,–– (i) interest or instalment of principal remains overdue for a period of more than one hundred and eighty days; or (ii) the account remains out of order in respect of an over
Form of report of audit to be furnished under section 59(4) for computation of royalty and fee for technical services.
Rule breakdown
42. (1) The provisions of section 56 shall apply in the case of every public financial institution, scheduled bank, State Financial Corporation and State Industrial Investment Corporation, if its income from interest is related to following categories of bad or doubtful debts:–– (a) in relation to a
Form of report of audit to be furnished under section 59(4) for computation of royalty and fee for technical services.
Key takeaways
Legal Provision
Yeh rule section 56 ke under delegated legislation hai. Act ke relevant provisions ke saath iska alignment hona zaroori hai.
- section 56 ke under yeh rule framed hai
- Amendment time to time ho sakte hain
Deadline Important
Time limit cross karne par legal consequences follow ho sakte hain. Calendar days count hote hain.
- Extension sirf exceptional cases me milti hai
- Deadline pe action lena chahiye
- Delay se penalty ya rejection ka risk hota hai
Professional Advice
Complex provisions ko samajhne ke liye apne CA/CS se consult karein.
- CA se help lene se mistakes kam ho jati hain
- Accurate filing ke liye expert guidance zaroori hai
FAQs
Is rule section 56 ke under kaise aata hai?
Is rule Income-tax Act, 2025 ke section 56 ke under delegated legislation hai aur Income-tax Rules, 2026 ka part hai.
Is rule kab se applicable hoga?
Is rule 1st April, 2026 se applicable hoga. Jab tak koi amendment nahi aati, yeh current form mein valid rahegi.
Isme kitne din ka time limit diya hai?
Rule me specific time period mention kiya gaya hai. Calendar days count hote hain, isliye deadline pe action lena chahiye.
Kya CA se help leni chahiye?
Complex provisions ko samajhne aur accurate compliance ke liye apne CA/CS se consult karein. Professional help mistakes kam karti hai.