Bare Act Search Results

National Bank for Agriculture and Rural Development Act, 1981 Section 36

Title: Validity of Loan or Advance Not to Be Questioned

State: Central

Year: 1981

Notwithstanding anything to the contrary contained in any other law for the time being in force, the validity of any loan or advance granted by the National Bank in pursuance of the provisions of this Act shall not be called in question merely on the ground of non-compliance with the requirements of such other law as aforesaid or of any resolution, contract memorandum, articles of association or other instrument Provided that nothing in this section shall render valid any loan or advance obtained by any company or co-operative society where such company or co-operative society is not empowered by its memorandum to obtain loans or advances.

National Bank for Agriculture and Rural Development Act, 1981 Section 37

Title: National Bank Not to Grant Loans or Advances Against Its Own Bonds or Debentures

State: Central

Year: 1981

The National Bank shall not grant any loan or advances on the security of its own bonds or debentures.

National Bank for Agriculture and Rural Development Act, 1981 Chapter VI

Title: Credit Functions of the National Bank

State: Central

Year: 1981

.....(Amendment) Act, 2003. 2.Words "to any State Co-operative bank" substituted by National Bankfor Agriculture and Rural Development (Amendment) Act, 2003. Section 22 - Conversion loan for production credit 1[22. Conversion loan for production credit. -- Where the National Bank is satisfied that owing to drought, famine or other natural calamities, military operations or enemy action, any State co-operative bank, central co-operative bank, regional rural bank or any such financial institution or any financial institution falling under any such class of financial institutions, as may be approved by the Reserve Bank in this behalf, requires assistance under this section, it may provide to such bank or institution such financial assistance as it may deem fit by way of making loans and advances repayable on the expiry of fixed periods not exceeding seven years and on such terms and conditions as may be specified in this behalf by the National Bank: Provided that loans and advances may be made under this section only for the purpose of enabling the borrowing bank or institution,-- (a) to pay any dues to the National Bank for credit extended for financing agricultural.....

National Bank for Agriculture and Rural Development Act, 1981 Complete Act

State: Central

Year: 1981

.....shall stand dissolved. The Bill also provides for changes of a supplemental, incidental or consequential nature in the Reserve Bank of India Act, 1934,the Banking Regulation Act, 1949the Industrial Disputes Act. 1947andthe Payment of Bonus Act, 1965. 4. The Notes on clauses appended to the Bill explain the provisions of the Bill.-See Gaz, of India, 18-9-1981, Pt. II.S.2,Ext.p.683. 1An Act to establish a development bank to be known as the National Bank for Agriculture and Rural Development for providing and regulating credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promoting integrated rural development and securing prosperity of rural areas and for matters connected therewith or incidental thereto. Be it enacted by Parliament in the Thirty-second Year of the Republic of India as follows :- SECTION 01: SHORT TITLE, EXTENT AND COMMENCEPIENT (1)This Act may be called the National Bank for Agriculture and Rural Development Act, 1981 . (2) It extends to the whole of India. (3) It shall.....

Finance Act, 1981 Chapter III

Title: Direct Taxes

State: Central

Year: 1981

.....words "first proviso" shall be substituted. Section 26 to 31 - Wealth-Tax Section 26 - Amendment Of Section 21 In section 21 of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), - (a) in sub-section (1), the following Explanation shall be inserted, namely :- "Explanation : A trust which in not declared by a duly executed instrument in writing (including a valid deed of wakf) shall be deemed, for the purposes of this sub-section, to be a trust declared by a duly executed instrument in writing if a statement in writing, signed by the trustee or trustees, setting out the purpose or purposes of the trust, particulars as to the trustee or trustees, the beneficiary or beneficiaries and the trust property, is forwarded to the Wealth-tax Officer, - (i) where the trust has been declared before the 1st day of June, 1981, within a period of three months from that day; and (ii) in any other case, within three months from the date of declaration of the trust."; (b) in sub-section (4), - (i) for the words "Notwithstanding anything contained in this section", the words "Notwithstanding anything contained in the foregoing provisions of this.....

Finance Act, 1981 Section 36

Title: Insertion of New Section 7a to 7d

State: Central

Year: 1981

.....other case : Provided that were, in respect of any class of assessees, the Board has, in exercise of the prowers 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 15th day 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 the Income-tax 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 sub-section (3), or (b) where it has not previously been assessed by way of regular assessment under this Act, an estimate of - (i) the.....

Finance Act, 1981 Complete Act

State: Central

Year: 1981

.....1981-82 Be it enacted by Parliament in the Thirty-second Year of the Republic of India as follows SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called The finance Act, 1981. (2) Save as otherwise provided in this Act,sections 2-to45-andsection 53-shall be deemed to have come into force on the 1st day of April, 1981. SECTION 02: INCOME-TAX (1) Subject to the provisions of sub-section (2) and (3), for the assessment year commencing on the 1st day of April, 1981, income-tax shall be charted at the rates specified in part I of the First Schedule and shall be increased, - (a) in the cases to which Paragraphs A, B, C and D of that Part apply, by a surcharge for purposes of the Union; and (b) in the cases to which Paragraph E of that part applies, by a surcharge, calculated in each case in the manner provided therein. (2) In the cases to which Sub-Paragraph I or Sub-Paragraph II of Paragraph A of Part I of the First Schedule applies, where the assessee has in the previous year, any net agricultural income exceeding six hundred rupees in addition to total income, and the total income exceeds twelve thousand rupees, then,- (a) the net agricultural income shall be taken.....

National Bank for Agriculture and Rural Development Act, 1981 Section 22

Title: Conversion Loan for Production Credit

State: Central

Year: 1981

.....to pay any dues to the National Bank for credit extended for financing agricultural operations or the marketing of crops under clause (i) of sub­section (1) of section 21, or (b) (i) to make loans or advances to central co-operative banks or primary rural credit societies in cases where the borrowing bank is a State co-operative bank, and (ii) to make loans and advances to primary rural credit societies in cases where the borrowing bank is a central co-operative bank, and such loans or advances in both the cases being repayable on the expiry of fixed periods not being less than eighteen months and not exceeding seven years, by way of reimbursement of loans and advances made by such co-operative banks or societies for agriculture or agricultural operations or for reimbursement of such loans or advances which have been converted into loans or advances repayable on expiry of fixed periods not being less than eighteen months and not exceeding seven years from the date of conversion: Provided further that no loan or advance shall be made under this section to a State co-operative bank or a central co-operative bank unless such loan or advance is fully guaranteed as to the.....

Export Import Bank of India Act, 1981 Complete Act

State: Central

Year: 1981

.....it enacted by Parliament in the Thirty-second Year of the Republic of India as follows:- SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Export-Import Bank of India Act, 1981. (2) It extends to the whole of India. (3) It shall come into force on such date1as the Central Government may, by notification in the Office of this Act in the Official Gazette, appoint, and different dates may be appointed for different provisions SECTION 02: DEFINITIONS. In this Act, unless the context otherwise requires,- (a) "Board" means the Board of Directors of Exim Bank referred to in S. 6; (b) "Development Bank" means the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964- (c) "Exim Bank" means the Export-Import Bank of India established under section 3-; (d) "export" and "import" mean, respectively, export from or import into India or any other country of goods or services, or both; (e) "goods" includes all materials, commodities and articles in a solid, liquid or gaseous state and all forms of energy; (f) "notification" means a notification published in the Official Gazette; (g) "prescribed" means.....

Finance Act, 1981 Chapter II

Title: Rates of Income-tax

State: Central

Year: 1981

.....and the sum so arrived at shall be the income-tax in respect of the total income. (3) In cases to which the provisions of Chapter XII or section 164 or section 164A or section 167A of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the Income-tax Act) apply, the tax chargeable shall be determined as provided in that Chapter or that section, and with reference to the rates imposed by sub-section (1) or the rates as specified in that Chapter or section, as the case may be. (4) In cases in which tax has to be deducted under sections 193, 194, 194A, 194B, 194BB, 194D and 195 of the Income-tax Act at the rates in force, the deduction shall be made at the rates specified in Part II of the First Schedule. (5) Subject to the provision of sub-section (6), in cases in which income-tax has to be calculated under the first proviso to sub-section (5) of section 132 of the Income-tax Act or charged under sub-section (4) of section 172 or sub-section (2) of section 174 or section 175 or sub-section (2) of section 176 of the said Act or deducted under section 192 of the said Act from income chargeable under the head "Salaries" or deducted under sub-section (9).....