Title : Amendment of Section 115r
State : Central
Year : 2004
In section 115R of the Income-tax Act, in sub-section (2),-- (a) for the words "at the rate of twelve and one-half per cent.", the following shall be substituted with effect from the 9th day of July. 2004, namely:-- "at the rate of-- (i) twelve and one-half per cent. on income distributed to any person being an individual or a Hindu undivided family; and (ii) twenty per cent. on income distributed to any other person:"; (b) in the proviso, the words, figures and letters "for a period of one year commencing from the 1st day of April, 2003" shall be omitted. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 119
State : Central
Year : 2004
In section 119 of the Income-tax Act, in sub-section (2), in clause (a), after the bracket and words "(whether by way of relaxation of any of the provisions of sections", the figures and letters "115P, 115S," shall be inserted with effect from the 1st day of October, 2004. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 139
State : Central
Year : 2004
In section 139 of the Income-tax Act, in sub-section (9) in the Explanation, in clause (c), in sub-clause (i), for the words "deducted at source and", the words, figures and letters "deducted at source before the 1st day of April, 2005 and" shall be substituted with effect from the 1st day of April, 2005. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 139a
State : Central
Year : 2004
In section 139A of the Income-tax Act,-- (a) in sub-section (5A), the first proviso shall be omitted with effect from the 1st day of April, 2005; (b) in sub-sections (5C) and (5D), for the word "buyer", the words "buyer or licensee or lessee" shall be substituted with effect from the 1st day of October, 2004. View Complete Act List Judgments citing this sectionTitle : Insertion of New Section 142a
State : Central
Year : 2004
After section 142 of the Income-tax Act, the following section shall be inserted and shall be deemed to have been inserted with effect from the 15th day of November, 1972, namely:-- '142A. Estimate by Valuation Officer in certain cases : (1) For the purposes of making an assessment or re-assessment under this Act, where an estimate of the value of any investment referred to in section 69 or section 69B or the value of any bullion Jewellery or other valuable article referred to in section 69A or section 69B is required to be made, the Assessing Officer may require the Valuation Officer to make an estimate of such value and report the same to him. (2) The Valuation Officer to whom a reference is made under sub-section (1) shall, for the purposes of dealing with such reference, have..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 153
State : Central
Year : 2004
In section 153 of the Income-tax Act, in Explanation 1, with effect from the 1st day of October, 2004,-- (a) in clause (v), for the words "that section,", the words "that section, or" shall be substituted; (b) after clause (v) and before the words "shall be excluded", the following clauses shall be inserted, namely;-- "(vi) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the order rejecting the application is received by the Commissioner under sub-section (3) of section 245R, or (vii) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 153b
State : Central
Year : 2004
In section 153B of the Income-tax Act, in sub-section (1), in the Explanation, with effect from the 1st day of October, 2004,-- (a) in clause (iv), for the words "that section,", the words "that section, or" shall be substituted; (b) after clause (iv) and before the words "shall be excluded", the following clauses shall be inserted, namely:-- "(v) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the order rejecting the application is received by the Commissioner under sub-section (3) of section 245R, or (vi) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 194c
State : Central
Year : 2004
In section 194C of the Income-tax Act, in sub-section (3), for clause (i), the following clause shall be substituted with effect from the 1st day of October, 2004, namely:-- "(i) the amount of any sum credited or paid or likely to be credited or paid to the account of, or to, the contractor or sub-contractor, if such sum does not exceed twenty thousand rupees: Provided that where the aggregate of the amounts of such sums credited or paid or likely to be credited or paid during the financial year exceeds fifty thousand rupees, the person responsible for paying such sums referred to in sub-section (1) or, as the case may be, sub-section (2) shall be liable to deduct income-tax under this section; or". View Complete Act List Judgments citing this sectionTitle : Insertion of New Section 194la
State : Central
Year : 2004
After section 194L of the Income-tax Act, the following section shall be inserted with effect from the 1st day of October, 2004, namely:-- '194LA. Payment of compensation on acquisition of certain immovable property: Any person responsible for paying to a resident any sum, being in the nature of compensation or the enhanced compensation or the consideration or the enhanced consideration on account of compulsory acquisition, under any law for the time being in force, of any immovable property (other than agricultural land), shall, at the time of payment of such sum in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to ten per cent. of such sum as income-tax thereon: Provided that no deduction shall be made under this section..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 197
State : Central
Year : 2004
In section 197 of the Income-tax Act, in sub-section (1), for the figures and letters "194C, 194D, 194G, 194H, 194-I, 194J, 194K", the figures and letters "194C, 194D, 194G, 194H, 194-I, 194J, 194K, 194LA" shall be substituted with effect from the 1st day of October, 2004. View Complete Act List Judgments citing this section