What is Section 68 of the BSA?
Asked by: Christine Murphy III | Last update: January 26, 2026Score: 4.3/5 (29 votes)
Section 68 of the Bharatiya Sakshya Adhiniyam (BSA), 2023, deals with proving the execution of documents that require attestation (witnessing) when those attesting witnesses cannot be found; it mandates proving that at least one witness's attestation and the signature of the person who executed the document are in their respective handwritings. Essentially, if you can't find the witnesses to a document, you must prove the authenticity of the handwriting of the key people involved.
What does section 68 mean?
As per section 68, any sum found credited in the books of a taxpayer, for which he offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, may be charged to income-tax as the income of the taxpayer of that year.
What is Section 68 of Bharatiya Sakshya Adhiniyam?
Proof where no attesting witness found.
If no such attesting witness can be found, it must be proved that the attestation of one attesting witness at least is in his handwriting, and that the signature of the person executing the document is in the handwriting of that person.
What is Section 68 of the contract Act?
If a person, incapable of entering into a contract, or any one whom he is legally bound to support, is supplied by another person with necessaries suited to his condition in life, the person who has furnished such supplies is entitled to be reimbursed from the property of such incapable person.
What is Section 68 of the Customs Act?
68. Clearance of Warehoused Goods for Home Consumption. (c) an order for clearance of such goods for home consumption has been made by the proper officer.
Indian Evidence Act | Public & Private Documents -Sec 74 & 75| Proof of Public Document -Sec 76 & 77
What is Section 68 of the customs Act 1901?
Section 68 of the Customs Act requires imported goods to be entered for home consumption or for warehousing, by submitting an import or warehouse declaration.
What is the difference between Section 68 and 69?
Section 68 Where any sum is found credited.. Section 69 Where assessee has made investments not recorded in books… Section 69A Where assessee is found to be the owner of any money…
What are the penalties for violating Section 68?
A violation of PC 68 is a felony offense. The crime is punishable by: imprisonment in state prison for up to four years, and/or. substantial fines.
What are common disputes under Section 68?
Key Takeaways
- Section 68 of the Arbitration Act enables parties to challenge arbitral awards for serious procedural irregularity that causes substantial injustice.
- Common grounds include unfair procedures, failure to address key issues, or exceeding authority-minor errors and simple disagreements usually don't qualify.
Who can not enter into a contract?
As a legal matter, there are certain classes of people who are presumed to have no capacity to contract. These include legal minors, the mentally ill, and those who are intoxicated. If people meeting these criteria enter into a contract, the agreement is considered voidable.
What is the law of 68?
Description. The imprisonment which is imposed in default of payment of a fine shall terminate whenever that fine is either paid or levied by process of law.
What is the burden of proof in Bharatiya Sakshya Adhiniyam?
According to Section 105 of the Bharatiya Sakshya Adhiniyam, 2023, the burden of proof in any suit or proceeding lies on the party who would fail if no evidence were presented by either side.
What is Section 69 of the BSA?
BSA Section 69 - Admission of execution by party to attested document. The admission of a party to an attested document of its execution by himself shall be sufficient proof of its execution as against him, though it be a document required by law to be attested.
What is the new Section 68?
The Staff of the Joint Committee on Taxation summarized the proposed new section 68 in JCX-21-25 (May 12, 2025): This provision permanently repeals the Pease limitation and replaces it with a new overall limitation on the tax benefit of itemized deductions, applicable to individuals, estates, and trusts.
What are the conditions for Section 68 to apply?
This section shall be applied after the application of any other limitation on the allowance of any itemized deduction. This section shall not apply to any estate or trust.
What are the recent changes to Section 68?
Details of Changes
The revised Section 68 removes the prior exception for trusts and estates, subjecting them to an overall itemized deduction limit starting in 2026.
What is the penalty under Section 68?
Penalty at the rate of 10% is leviable if additions is made under section 68,69,69A,69C and 69D of the act. the I.T. Act, 1961 to more than 1.16 lakh individual and firms that made cash deposits exceding normal limits.
What are the grounds for challenging an award?
The Federal Arbitration Act (FAA) allows a party to move to modify or correct an award to effect the intent of the award and promote justice between the parties if (i) the award contains 'an evident material miscalculation of figures or an evident material mistake in the description of any person, thing or property', ( ...
What is Section 68 of the arbitration Act challenge?
68 Challenging the award: serious irregularity.
(1)A party to arbitral proceedings may (upon notice to the other parties and to the tribunal) apply to the court challenging an award in the proceedings on the ground of serious irregularity affecting the tribunal, the proceedings or the award.
What is the tax rate for Section 68?
Section 68: Unexplained Cash or Investments Taxed as Income at 60%, Penalty Applies; Exceptions for Venture Capital Funds. In the real world people do a lot of tax evasion , so to mitigate such illegal practices sections from section 68 to section 69D under Chapter: VI- Part A were introduced in Income Tax Act.
What does an offer of judgment do?
(a) Making an Offer; Judgment on an Accepted Offer. At least 14 days before the date set for trial, a party defending against a claim may serve on an opposing party an offer to allow judgment on specified terms, with the costs then accrued.
What is Section 68 of the criminal procedure?
When a summons issued by a Court is served outside its local jurisdiction, and in any case where the officer who has served a summons is not present at the hearing of the case, an affidavit, purporting to be made before a Magistrate, that such summons has been served, and a duplicate of the summons purporting to be ...
When to file form 68?
Any person who has made a tax default and wishes to seek immunity from the imposition of penalty under the Income-tax Act, 1961 can file Form 68 under section 270AA(2). This form can be filed by individuals, companies, firms, or any other taxpayers who are liable for penalty due to a tax default.
Does Section 68 apply to loans?
If you're a business owner, startup founder, salaried professional, or even someone who just received a hefty loan or gift, Section 68 can apply to you. The consequences? A tax at 60% plus an additional surcharge and cess, with no deductions allowed, and often, a legal headache.
What is Section 69 example?
Example: Consider an individual who invests ₹100,000 in a financial year without recording it in their books of account. If they fail to provide a satisfactory explanation for the source of this investment, the Assessing Officer may treat this amount as income under Section 69.