Darshan Dodiya (Student CA Final ) (392 Points)
09 December 2012Hello sir...
Would you please tell me the meaning of actionable claims and also refer some examples for the same...???
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 10 December 2012
Mr Dodiya,
I feel the 'term actionable claims' means where some action such as recovery by auction,refunds etc can be can be initiated to realise the claim. When no action can be initiated like no addressee found etc it becomes unactonable or a non-performance claim......MJK
Vishal Goel
(Chartered Accountant)
(1693 Points)
Replied 15 October 2016
Hello,
As per Section 3 of the Transfer of Property Act, 1882
Actionable Claim is a claim to any debt, other than a debt secured by mortgage of immovable property or by hypothecation or pledge of moveable property, or to any beneficial interest in moveable property not in possession either actual or constructive, of the claimant, which the civil courts recognise as affording grounds of relief whether such debt or beneficial interest be existent, accruing or conditional or contingent.
Vishal Goel
(Chartered Accountant)
(1693 Points)
Replied 15 October 2016
Example of Actionable Claim
The benefit of a contract giving an option to purchase the land.
Claim for arrears of rent.
Claim for rent to fall due in future.
An option to repurchase the properties sold.
earnest money becoming repayable
dividend due on shares
amount due under a policy of life insurance
fixed deposit receipts
AAKANKSHA SURAMPUDI
(2 Points)
Replied 20 August 2017
Bulti Roy
(Student)
(22 Points)
Replied 02 October 2017
As defined in Section 65B(25) of the Finance Act 1994:- "Goods" means- every kind of moveable property other than actionable and money- Since FDR is an an actionable claim therefore outside the ambit of goods.
Nikku Goyal
(2 Points)
Replied 26 October 2017
can we say, prize money receivable from TV shows like KBC as actionable claims???
CA Sanil Joseph
(CA)
(38 Points)
Replied 17 March 2018
Actionable claim is with in the definition of "goods"
But the same is not a supply, since, it is included in Schedule III
CA Final Student
(and Trainee Accountant)
(373 Points)
Replied 22 May 2018
FDR is money. Does not get covered under actionable claim.
CA Final Student
(and Trainee Accountant)
(373 Points)
Replied 22 May 2018
Yes sir..................................
Viknesh Nadar
(2 Points)
Replied 28 May 2018
Kartikey Jain
(Intern)
(2382 Points)
Replied 03 July 2018
For eg -
1) A lottery ticket bought is an actionable claim for the buyer as realisation of benefit is dependent upon the draw.
2) Similarly, scratch card is an actionable claim as the benefit is certain only after scratching the surface of the card.
3) Sodexo cards or coupons cannot be classified as 'actionable claim' as the benefit is already in the knowledge of holder.
Dhinesh Balaji
(4 Points)
Replied 11 November 2018
but “Goods’’ means every kind of movable property other than money and securities but includes actionable claims ,growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply.
Section 2(52) of CGST Act
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