Bare Act Search Results

Income Tax Act, 1961 Section 43B

Title: Certain Deductions to Be Only on Actual Payment

State: Central

Year: 1961

.....fund or superannuation fund or gratuity fund or any other fund for the welfare of employees, or (c) any sum referred to in clause (ii) of sub-section (1) of section 36, or (d) any sum payable by the assessee as interest on any loan or borrowing from any public financial institution or a State financial corporation or a State industrial investment corporation, in accordance with the terms and conditions of the agreement governing such loan or borrowing, or (e) any sum payable by the assessee as interest on any 1[loan or advances] from a scheduled bank in accordance with the terms and conditions of the agreement governing 2[such loan or advances], 3[or] 3[(f) any sum payable by the assessee as an employer in lieu of any leave at the credit of his employee,] shall be allowed (irrespective of the previous year in which the liability to pay such sum was incurred by the assessee according to the method of accounting regularly employed by him) only in computing the income referred to in section 28 of that previous year in which such sum is actually paid by him: Provided that nothing contained in this section shall apply in relation to any sum 4[***] which is actually.....

Navy Act, 1957 Section 19 A

Title: Reinstatement of Persons Belonging to the Indian Naval Reserve Forces on Termination of Period of Training or Actual Service with the Indian Navy

State: Central

Year: 1957

.....(1), he shall be punishable with fine which may extend to one thousand rupees, and the court by which an employer is convicted under this sub-section shall order him (if he has not already been so required by the said authority) to pay to the person whom he has failed to re-employ a sum equal to six months' remuneration at the rate at which his last remuneration was payable to him by the employer, and any amount so required to be paid either by the said authority or by the Court shall be recoverable as if it were a fine imposed by such Court. (3) In any proceeding under this section it shall be a defence for an employer to prove that the person formerly employed did not apply to the employer for reinstatement within a period of two months from the termination of the period of his training or service with the Indian Navy. (4) The duty imposed by sub-section (1) upon an employer to reinstate in his employment a person such as is described in that sub-section shall attach to an employer who, before such person is actually called up for training or called up into actual service with the Indian Navy, terminates his Employment in circumstances such as to indicate an.....

Marine Insurance Act, 1963 Section 57

Title: Actual Total Loss

State: Central

Year: 1963

(1) Whether the subject-matter insured is destroyed, or so damaged as to cease to be a thing of the kind insured, or where the assured is irretrievably deprived thereof, there is an actual total loss. (2) In the case of an actual total loss no notice of abandonment need be given.

Navy Act, 1957 Section 19 B

Title: Preservation of Service Rights Belonging to the Indian Naval Reserve Forces when Called Up for Training or Actual Service with the Indian Navy

State: Central

Year: 1957

When any person belonging to the Indian Naval Reserve Forces and called up for training or called up into actual services with the Indian Navy in pursuance of his liability under any regulations made under this Act, has any rights under any provident fund or super annuation fund or other scheme for the benefit of employees maintained in connection with the employment he relinquishes, he shall continue, so long as he is engaged in training, or service with the Indian Navy and if he is reinstated, until such reinstatement under the provisions of this Act, to have in respect of such fund or scheme such rights as may be prescribed.]

Income Tax Act, 1961 Complete Act

State: Central

Year: 1961

INCOME TAX ACT, 1961 INCOME TAX ACT, 1961 43 of 1961 [AS AMENDED BY FINANCE ACT, 2003] An Act to consolidate and amend the law relating to income-tax and super-tax BE it enacted by Parliament in the Twelfth Year of the Republic of India as follows : CHAPTER 1 PRELIMINARY Section 1 Short title, extent and commencement (1) This Act may be called the Income-tax Act, 1961. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act, it shall come into force on the 1st day of April, 1962. Section 2 Definitions 1 Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1) "advance tax" means the advance tax payable in accordance with the provisions of Chapter XVII-C;] 2 Renumbered as clause (1A) by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1A)] 3 For manner of computation of income which is partially agricultural and partially frombusiness, see rules 7, 7A, 7B and 8. For analysis, see Mashbra's Income-tax Rules."agricultural income" means - 4 Substituted by the Taxation Laws (Amendment) Act, 1970, w.r.e.f. 1-4-1962.[(a) any rent or revenue derived from land which is situated in India and is used for.....

Income Tax Act, 1961 Section 43

Title: Definitions of Certain Terms Relevant to Income from Profits and Gains of Business or Profession

State: Central

Year: 1961

.....a person in the course of his manufacturing or merchanting business to guard against loss through future price fluctuations in respect of his contracts for actual delivery of goods manufactured by him or merchandise sold by him; or (b) a contract in respect of stocks and shares entered into by a dealer or investor therein to guard against loss in his holdings of stocks and shares through price fluctuations; or (c) a contract entered into by a member of a forward market or a stock exchange in the course of any transaction in the nature of jobbing or arbitrage to guard against loss which may arise in the ordinary course of his business as such member; 8[or] 8[(d) an eligible transaction in respect of trading in derivatives referred to in clause 9[(ac)] of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) carried out in a recognised stock exchange:] shall not be deemed to be a speculative transaction. 8[Explanation: For the purposes of this clause, the expressions (i) eligible transaction means any transaction, (A) carried out electronically on screen-based systems through a stock broker or sub-broker or such other intermediary registered.....

All India Services Act, 1951 Complete Act

State: Central

Year: 1951

.....Service, and (3) the Indian Medical and Health Service. The present Bill seeks to create the aforesaid services by amending the All India Services Act, 1951. Under section 3of the Act, the Central Government would be empowered to make rules for the regulation of recruitment, and conditions of service of persons appointed, to these services. - S.O.R. -Gaz. of Ind., 19-11-1962, Pt. II, S. 2, Ext., p. 1012. Act 23 of 1975.- In service matters occasions arise when it becomes an inescapable necessity to amend or make rules with retrospective effect. An instance in point is the implementation of the decisions of the Government on the recommendations of the Third Central Pay Commission. 2.Section 3of the All India Services Act, 1951 which empowers the Central Government to make rules for the regulation of recruitment and the conditions of service of persons appointed to an All India Service does not in terms permit the making of the rules with retrospective effect. In view of the opinion tendered by the Attorney-General in 1969 in connection with a po,int raised by the Public Accounts Committee regarding an exemption notification issued with retrospective effect under the Central.....

Delhi Development Act, 1957 Complete Act

State: Delhi

Year: 1957

.....to do anything necessary or expedient for purposes of such development and for purposes incidental thereto: Provided that save as provided in this Act, nothing contained in this Act shall be construed as authorising the disregard by the Authority of any law for the time being in force. CHAPTER 3 Master Plan and Zonal Development Plans Section7 Civic survey of, and master plan for Delhi (1)The Authority shall, as soon as may be, carry out a civic survey of, and prepare a master plan for, Delhi. (2) The master plan shall (a) define the various zones into which Delhi may be divided for the purposes of development and indicate the manner in which the land in each zone is proposed to be used (whether by the carrying out thereon of development or otherwise) and the stages by which any such development shall be carried out; and (b) serve as a basic pattern of framework within which the zonal development plans of the various zones may be prepared. [(3) The master plan may provide for any other matter which is necessary for the proper development of Delhi.] Section8 Zonal developmental plans (1) Simultaneously with the preparation of the master plan or as soon as may.....

The Guru Nanak Dev University, Amritsar Act, 1969 Complete Act

State: Punjab

Year: 1969

.....of Punjab in the Twentieth Year of Republic of India as follows :- Short title 1. This act may be called the** [Guru Nanak Dev] University Amritsar Act, 1969. Definitions 2. In this Act and in all Statutes, Ordinances and Regulations made hereunder uless the context otherwise requires: (a) "College" means an institution maintained by or admitted to the privileges of the University under this act. (b) "Principal" means the head of a college and includes, when there is no Principal, the person for the time being duly appointed to act as Principal and in the absence of the Principal or the acting Principal, a Vice-Principal duly appointed as such. (c) "Statutes", "Ordinances" and "Regulations" mean respectively the Statues, Ordinances and * For Statement of Objects and Reasons, see Punjab Government Gazette (Extraordinary), 1969, page 1114. ** Subs by the Guru Nanak University Amritsar (Amendment) Act, 1975, S.2 for "Guru Nanak". Regulations of the University made by or under this Act. (d) "Teachers" include Professors, Readers, Lecturers and other persons imparting instruction in the University or in any College. (e) "University" means the* [Guru Nanak Dev] University Amritsar, as.....

Air Corporations Act, 1953 Complete Act

State: Central

Year: 1953

.....with either of the Corporations. SECTION 09: CORPORATIONS TO ACT ON BUSINESS PRINCIPLES - In carrying out any of duties vested in it by this Act, each of the Corporations shall act so far as may be on business principles. CHAPTER 03: FINANCE, ACCOUNTS AND AUDIT SECTION 10: CAPITAL OF THE CORPORATIONS - (1) All non-recurring expenditure incurred by the Central Government for, or in connection with, each of the Corporations up to the date of establishment of that Corporation and declared to be capital expenditure by that Government, shall be treated as capital provided by the Central Government to that Corporation. (2) The Central Government may provide any further capital that may be required by either of the Corporations for the carrying on of the business of the Corporation or for any purpose connected therewith on such terms and conditions as the Central Government may determine. (3) Each of the Corporations may, with the consent of the Central Government, or in accordance with the terms of any general authority given to it by the Central Government- (a) borrow money for all or any of the purposes of the Corporation, and (b) secure the payment of any money.....