WebFeb 1, 2024 · (a) In general.—In the case of any dealer of new motor vehicles which inventories new motor vehicles under the LIFO method for any specified taxable year, the requirements of paragraphs (1)(B) and (2) of section 473(c) of the Internal Revenue Code of 1986 shall be treated as satisfied with respect to such inventory for such taxable year. … WebCorresponding Law – Section 177 corresponds to section 112 of the Motor Vehicles Act, 1939. Objects and Reasons. – Clause 177 provides for a general provision for …
Motor Vehicle Act, 1988: An Overview - lawyersclubindia
http://morth-roadsafety.nic.in/pdf/MV-ACT/MV%20Act%202488-Chapter%2013.pdf WebGeneral provision for punishment of offences.—Whoever contravenes any provision of this Act or of any rule, regulation or notification made thereunder shall, if no penalty is … bio it world boston
The Indian Motor Vehicle Act at a Glance - Getlegal India
WebApr 9, 2024 · THE MOTOR VEHICLES ACT, 1988 : Updated 2024 An Act to consolidate and amend the law relating to motor vehicles. ... EQUIPMENT AND MAINTENANCE OF MOTOR VEHICLES Section 109. General provision regarding construction and maintenance of vehicles. (1) Every motor vehicle shall be so constructed and so … WebDec 19, 2024 · The Motor Vehicles Act of 1988 is comprehensive legislation. The Bill received the assent of the President on October 14th, 1988. The latest amendment was made in 2024. Passed in the year 1988, it regulates almost all road transport vehicles. It can be considered as a mixture of early legislation and case laws. WebDec 22, 2024 · Here is a rundown of the key changes in Section 184 of the MV Act: Anyone driving dangerously can be fined up to Rs 5000 and imprisonment can be extended up to a year. Earlier, the fine was Rs 1000 or imprisonment for 06 months. Under the new law, anyone not found guilty for the following circumstances will be fined Rs 10,000: Violating … bio-it world 2023