{"act":{"id":"finance-act-2015","short_title":"The Finance Act, 2015","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2015-2016.","act_number":"20","act_year":2015,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":165,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2015/"},"unit":"section","section":{"number":"124","heading":"Payment of claims","text":"Payment of claims 124. (1) Any person claiming to be entitled to the unclaimed amount transferred to the Fund may apply to the respective Institution with which the amount due was originally lying or deposited, at any time before the right to the amount is extinguished as provided in section 126. (2) The person making the application shall bear the onus of establishing his right to receive the amount to which the application relates. (3) The Institution shall consider the application as expeditiously as possible, and make payment along with the eligible interest, in any case, within sixty days of the receipt of the application. (4) Any payment under this section shall discharge the Institution from liability in respect of the amount credited to the Fund. (5) The interest payable, if any, on the money transferred to the Fund shall be determined and notified by the Central Government.","html":"<p><b>Payment of claims</b></p><p><b>124.</b> (<i>1</i>) Any person claiming to be entitled to the unclaimed amount transferred to the Fund may apply to the respective Institution with which the amount due was originally lying or deposited, at any time before the right to the amount is extinguished as provided in section 126.</p><p>(<i>2</i>) The person making the application shall bear the onus of establishing his right to receive the amount to which the application relates.</p><p>(<i>3</i>) The Institution shall consider the application as expeditiously as possible, and make payment along with the eligible interest, in any case, within sixty days of the receipt of the application.</p><p>(<i>4</i>) Any payment under this section shall discharge the Institution from liability in respect of the amount credited to the Fund.</p><p>(<i>5</i>) The interest payable, if any, on the money transferred to the Fund shall be determined and notified by the Central Government.</p>","words":148,"text_source":"published"},"classification":[],"instruments":[{"key":"25fb7bf8","kind":"notification","title":"notification for senior citizens' welfare fund rules","year":2016,"jurisdiction":"CENTRAL","relation":"mentions","act_basis":"inferred","url":"https://indiacode.ecourtsindia.com/rules/notification-for-senior-citizens-welfare-fund-rules-25fb7bf8/"}],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2015/section/124/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}