Time
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 June 2014
what do u mean by time being in force
Nikhil Kaushik
(Expert)
13 June 2014
actually the whole term is "law for the time being in force"
it means the law as it stood at the particular point of time. For eg: as at 31 March 2013 the limit for premium paid on insurance policy under section 80C of the Income tax act 2013 was 20%. after this date the percentage was reduced to 10%. so will say as per the law for the time being in force, the premium paid at 20% was valid.
it means the law as it stood at the particular point of time. For eg: as at 31 March 2013 the limit for premium paid on insurance policy under section 80C of the Income tax act 2013 was 20%. after this date the percentage was reduced to 10%. so will say as per the law for the time being in force, the premium paid at 20% was valid.
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