Section 340Dates of successive payments when first payment directed to be made within a given time or on day certain: death of annuitant before date of payment.

The Indian Succession Act, 1925

(1) Where there is a direction that the first payment of an annuity shall be made within one month or any other division of time from the death of the testator, or on a day certain, the successive payments are to be made on the anniversary of the earliest day on which the will authorises the first payment to be made.

(2) If the annuitant dies in the interval between the times of payment, an apportioned share of the annuity shall be paid to his representative.

Act Detail :

The Indian Succession Act, 1925 Detail