Bare Act Search Results

Companies Profits Surtax Act 1964 Section 7A

Title : Advance Payment of Surtax

State : Central

Year : 1964

.....other case: Provided that where, in respect of any class of assessees, the Board has, in exercise of the powers conferred by the proviso to sub-section (1) of section 211 of the Income-tax Act, authorised the payment of the last instalment of advance tax on the 15th day of March during the financial year instead of on the 15th day of December, the last instalment of advance surtax in the case of such assessees shall also be payable on the 15day of March during the financial year. (5) Every company shall, in each financial year, on or before the date on which the first instalment, or where it has not previously been assessed by way of regular assessment under this Act, on or before the date on which the last instalment of advance surtax is due in its case under sub-section (4), if it is likely to have any current chargeable amount, send to the2[Assessing Officer],-- (a) where it has been previously assessed by way of regular assessment under this Act, a statement of advance surtax payable by it computed in the manner laid down in subrsection (3), or (b) where it has not previously been assessed by way of regular assessment under this Act, an estimate of-- (i) the.....

Income Tax Act, 1961 Section 115WJ

Title : Advance Tax in Respect of Fringe Benefits

State : Central

Year : 1961

.....the advance tax payable by him during a financial year or where the advance tax paid by him is less than ninety per cent of the tax assessed under section 115WE or section 115WF or section 115WG, the assessee shall be liable to pay simple interest at the rate of one per cent per month, for every month or part of a month comprised in the period from the 1st day of April next following such financial year to the date of assessment of tax under section 115WE or section 115WF or section 115WG]. _______________________________ 1. Substituted by the Finance Act, 2007, with effect from 1st June, 2007. Prior to substitution, sub-section (2) stood as under : (2) The amount of advance tax payable by an assessee in the financial year shall be thirty per cent of the value of the fringe benefits referred to in section 115WC, paid or payable in each quarter and shall be payable on or before the 15th day of the month following such quarter: Provided that the advance tax payable for the quarter ending on the 31st day of March of the financial year shall be payable on or before the 15th day of March of the said financial year. 2. Sub-sections (3), (4) and (5) substituted for.....

the National University of Advanced Legal Studies Act 2005 [1] Complete Act

State : Kerala

Year : 2005

.....may be convincing grounds for such rejection. (7) Where the Executive Council does not, within reasonable time, comply with the advice to the satisfaction of the Visitor or the Chancellor, as the case may be, the Visitor or the Chancellor, after considering any explanation furnished or representation made by the Executive council, may issue such directions as he may think fit and Executive Council shall comply with such directions. 11. Authorities of the University.- The following shall be the authorities of the University namely:- (i) The General Council; (ii) The Executive Council; (iii) The Academic Council; (iv) Such other bodies as may be declared by regulations to be the authorities of the University. 12. The General Council.- The General Council shall be the plenary authority of the University and shall consist of the following members, namely:- (i) The Chancellor; (ii) The Pro-Chancellor; (iii) The Vice-Chancellor; (iv) The Minister for Law, Government of Kerala; (v) The Member of Parliament representing the constituency where the headquarters of the University is located; (vi) The Member of the Legislative Assembly representing the area in which the.....

Income Tax Act, 1961 Section 210

Title : Payment of Advance Tax by the Assessee of His Own Accord or in Pursuance of Order of Assessing Officer

State : Central

Year : 1961

.....and at any time before the 1st day of March, a return of income is furnished by the assessee under section 139 or in response to a notice under sub-section (1) of section 142, or a regular assessment of the assessee is made in respect of a previous year later than that referred to in sub-section (3), the Assessing Officer may make an amended order and issue to such assessee a notice of demand under section 156 requiring the assessee to pay, on or before the due date or each of the due dates specified in section 211 falling after the date of the amended order, the appropriate percentage, specified in section 211, of the advance tax computed on the basis of the total income declared in such return or in respect of which the regular assessment aforesaid has been made. (5) A person who is served with an order of the Assessing Officer under subsection (3) or an amended order under sub-section (4) may, if in his estimation the advance tax payable on his current income would be less than the amount of the advance tax specified in such order or amended order, send an intimation in the prescribed form2 to the Assessing Officer to that effect and pay such advance tax as accords with his.....

Income Tax Act, 1961 Section 234C

Title : Interest for Deferment of Advance Tax

State : Central

Year : 1961

.....to any shortfall in the payment of the tax due on the returned income where such shortfall is on account of increase in the rate of surcharge under section 2 of the Finance Act, 2000 (10 of 2000), as amended by the Taxation Laws (Amendment) Act, 2000, and the assessee has paid the amount of shortfall, on or before the 15th day of March, 2001 in respect of the instalment of advance tax due on the 15th day of June, 2000, the 15th day of September, 2000 and the 15th day of December, 2000:] 3[Provided also that nothing contained in this sub-section shall apply to any shortfall in the payment of the tax due on the returned income where such shortfall is on account of increase in the rate of surcharge under section 2 of the Finance Act, 2000 (10 of 2000) as amended by the Taxation Law (Amendment) Act, 2001 and the assessee has paid the amount of shortfall on or before the 15th day of March, 2001 in respect of the instalment of advance tax due on the 15th day of June, 2000, the 15th day of September, 2000 and 15th day of December, 2000.] 4[Explanation : In this section, tax due on the returned income means the tax chargeable on the total income declared in the return of income.....

Income Tax Act, 1961 Section 209

Title : Computation of Advance Tax

State : Central

Year : 1961

.....calculation is made by the assessee for the purposes of payment of advance tax under sub-section (1) or sub-section (2) or sub-section (5) or sub-section (6) of section 210, he shall first estimate his current income and income-tax thereon shall be calculated at the rates in force in the financial year ; (b) where the calculation is made by the Assessing Officer for the purpose of making an order under sub-section (3) of section 210, the total income of the latest previous year in respect of which the assessee has been assessed by way of regular assessment or the total income returned by the assessee in any return of income furnished by him for any subsequent previous year, whichever is higher, shall be taken and income-tax thereon shall be calculated at the rates in force in the financial year ; (c) where the calculation is made by the Assessing Officer for the purpose of making an amended order under sub-section (4) of section 210, the total income declared in the return furnished by the assessee for the later previous year, or, as the case may be, the total income in respect of which the regular assessment, referred to in that sub-section has been made, shall be taken.....

Income Tax Act, 1961 Section 211

Title : Instalments of Advance Tax and Due Dates

State : Central

Year : 1961

..... The whole amount of such advance tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments : Provided that any amount paid by way of advance tax on or before the 31st day of March shall also be treated as advance tax paid during the financial year ending on that day for all the purposes of this Act. (2) If the notice of demand issued under section 156 in pursuance of an order of the Assessing Officer under sub-section (3) or sub-section (4) of section 210 is served after any of the due dates specified in sub-section (1), the appropriate part or, as the case may be, the whole of the amount of the advance tax specified in such notice shall be payable on or before each of such of those dates as fall after the date of service of the notice of demand.

Reserve Bank of India Act, 1934 (2 of 1934) Section 18A

Title : Validity of Loan or Advance Not to Be Questioned

State : Central

Year : 1934

.....of the outstanding loans and advances referred to in clause (ii) of the said proviso or in the proviso to clause (3B) of the said section or (ii) by the borrowing bank or any other person in repayment or realisation of loans and advances granted to a borrower out of funds obtained by it or by him from the Bank under section 18, shall be utilised only for the repayment by the borrowing bank or other person, as the case may be, of the amounts due to be repaid by it or by him to the Bank, and shall be held by it or by him in trust for the Bank, until such time as the amounts are so repaid.] _______________________ 1. Inserted by Act 51 of 1974, section 8 (w.e.f. 13-12-1974).

Interest Tax Act, 1974 Section 11

Title : Advance Payment of Interest-tax

State : Central

Year : 1974

.....of such interest-tax payable in advance, as reduced by the amount, if any, paid in the earlier installment. On or before the 15th March The whole amount of such interest-tax payable in advance as reduced by the amount or amounts, if any, paid in the earlier installment or installments: Provided that any amount paid by way of interest-tax payable in advance on or before the 31st day of March shall also be treated as interest-tax paid in advance during the financial year ending on that day for all the purposes of this Act. ___________________________ 1.Substituted for Sections. 11 to 13 by Finance (No. 2) Act (49 of 1991), Section 101(1-10-91).

Companies Profits Surtax Act 1964 Section 9A

Title : False Estimate Of, or Failure to Pay, Advance Surtax

State : Central

Year : 1964

.....without reasonable cause failed to furnish a statemnt of the advance surtax payable by him in accordance with the provisions of clause (a) of sub-section (5) of section 7 A, he may direct that such assessee shall, in addition to the amount of surtax, if any, payable by him, pay by way of penalty a sum-- (i) which, in the case referred to in clause (a), shall not be less than ten per cent but shall not exceed one and a half times the amount by which the surtax actually paid during the financial year immediately preceding the assessment year under the provisions of section 7A falls short of-- (1) eighty-three and one-third per cent of the assessed surtax, or (2) the amount which would have been payable by way of advance surtax if the assessee had furnished a correct and complete statement in accordance with the provisions of clause (a) of sub-section (5) of section 7A, whichever is less; (ii) which in the case referred to in clause (b), shall not be less than ten per cent but shall not exceed one and a half times of eighty-three and one-third percent of the assessed surtax. (2) If the Income-tax Officer, in the course of any proceedings in connection with the regular.....