Question
Transfer of property to take effect after the lifetime
of a person, who is in existence at the date of such a transfer is:Solution
As per Transfer of Property Act, 1882-S. 14. Rule against perpetuity.mdash;No transfer of property can operate to create an interest which is to take effect after the lifetime of one or more persons living at the date of such transfer, and the minority of some person who shall be in existence at the expiration of that period, and to whom, if he attains full age, the interest created is to belong
In the Cash Flow Statement, payment of taxes is classified under which activity?
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