Question

The general rule for the apportionment of income between the transferor and transferee under Section 36 of the Transfer of Property Act, 1882 is that such income shall be deemed to accrue due from

• A. Day to day basis
• B. Every fortnight basis
• C. Monthly basis
• D. Yearly basis

Hint:

Under Section 36 TPA, income follows time—apportionment is always on a day-to-day basis.

Answer 1

The Correct Option is A

Step 1: Understanding Section 36 TPA.
Section 36 of the Transfer of Property Act deals with apportionment of benefits such as rents, annuities, and other periodical payments upon transfer of property.
Step 2: Statutory rule of apportionment.
The section clearly provides that such income shall be deemed to accrue from day to day and shall be apportioned accordingly between the transferor and transferee.
Step 3: Conclusion.
Therefore, the correct answer is (A) Day to day basis.