1[17. Direction for accumulation.-- (1) Where the terms of a transfer of property direct that the income arising from the property shall be accumulated either wholly or in part during a period longer than--
(a) the life of the transferor, or
(b) a period of eighteen years from the date of the transfe ,
such direction shall, save as hereinafter provided, be void to the extent to which the period during which the accumulation is directed exceeds the longer of the aforesaid periods, and at the end of such last-mentioned period the property and the income thereof shall be disposed of as if the period during which the accumulation has been directed to be made had elapsed.
(2) This section shall not affect any direction for accumulation for the purpose of--
(i) the payment of the debts of the transferor or any other person taking any interest under the transfer, or
(ii) the provision of portions for children or remoter issue of the transferor or of any other person taking any interest under the transfer, or
(iii) the preservation or maintenance of the property transferred;
and such direction may be made accordingly.]
(a) the life of the transferor, or
(b) a period of eighteen years from the date of the transfe ,
such direction shall, save as hereinafter provided, be void to the extent to which the period during which the accumulation is directed exceeds the longer of the aforesaid periods, and at the end of such last-mentioned period the property and the income thereof shall be disposed of as if the period during which the accumulation has been directed to be made had elapsed.
(2) This section shall not affect any direction for accumulation for the purpose of--
(i) the payment of the debts of the transferor or any other person taking any interest under the transfer, or
(ii) the provision of portions for children or remoter issue of the transferor or of any other person taking any interest under the transfer, or
(iii) the preservation or maintenance of the property transferred;
and such direction may be made accordingly.]
Source footnotes
1. Subs. by s. 10, ibid., for sections 16, 17 and 18.आगे पढ़ें / Continue reading
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More sections of this act
Section 1 · Short title .Section 2 · Repeal of Acts.Section 3 · Interpretation-clause.Section 4 · Enactments relating to contracts to be taken as part of Contract Act and supplemental to the Registration Act.Section 5 · “Transfer of property” defined.Section 6 · What may be transferred.Section 7 · Persons competent to transfer.Section 8 · Operation of transfer.India Code, Government of India. Text fetched 09 Oct 2026. Source metadata reports last modification: 2018-04-16. Check the linked official text and subsequent notifications when applying a provision.