Title : Tax on Accumulated Balance of Recognised Provident Fund
State : Central
Year : 1961
(1) Where the accumulated balance due to an employee participating in a recognised provident fund is included in his total income, owing to the provisions of rule 8 of Part A of the Fourth Schedule not being applicable, the Assessing Officer shall calculate the total of the various sums of tax in accordance with the provisions of sub-rule (1) of rule 9 thereof. (2) Where the accumulated balance due to an employee participating in a recognised provident fund which is not included in his total income under the provisions of rule 8 of Part A of the Fourth Schedule becomes payable, super-tax shall be calculated in the manner provided in sub-rule (2) of rule 9 thereof. View Complete Act List Judgments citing this sectionTitle : Income-tax Settlement Commission
State : Central
Year : 1961
(1) The Central Government shall constitute a Commission to be called the Income-tax Settlement Commission for the settlement of cases under this Chapter. (2) The Settlement Commission shall consist of a Chairman and as many Vice Chairmen and other Members as the Central Government thinks fit and shall function within the Department of the Central Government dealing with direct taxes. (3) The Chairman, Vice-Chairman and other Members of the Settlement Commission shall be appointed by the Central Government from amongst persons of integrity and outstanding ability, having special knowledge of, and, experience in, problems relating to direct taxes and business accounts: Provided that, where a Member of the Board is appointed as the Chairman, Vice-Chairman or as a Member of the..... View Complete Act List Judgments citing this sectionTitle : Companies (Surcharge on Income-tax) Act, 1971 [Repealed]
State : Central
Year : 1971
Preamble1 - COMPANIES (SURCHARGE ON INCOME-TAX) ACT, 1971 Section1 - Short title Section2 - Definitions Section3 - Levy of surcharge on income-tax payable by companies during 1971-72 Section4 - Mode of recovery Section5 - Credit for surcharge Repealing Act1 - DIRECT-TAX LAWS (MISCELLANEOUS) REPEAL ACT, 2000 List Judgments citing this sectionTitle : Decision to Be by Majority
State : Central
Year : 1957
If the Members of a Bench differ in opinion on any point, the point shall be decided according to the opinion of the majority, if there is a majority, but if the Members are equally divided, they shall state the point or points on which, they differ, and make a reference to the Chairman who shall either hear the point or points himself or refer the case for hearing on such point or points by one or more of the other Members of the Settlement Commission and such point or points shall be decided according to the opinion of the majority of the Members of the Settlement Commission who have heard the case, including those who first heard it.] View Complete Act List Judgments citing this sectionTitle : Salaries
State : Central
Year : 1961
The following income shall be chargeable to income-tax under the head Salaries - (a) any salary due from an employer or a former employer to an assessee in the previous year, whether paid or not; (b) any salary paid or allowed to him in the previous year by or on behalf of an employer or a former employer, though not due or before it became due to him; (c) any arrears of salary paid or allowed to him in the previous year by or on behalf of an employer or a former employer, if not charged to income-tax for any earlier previous year. Explanation 1: For the removal of doubts, it is hereby declared that where any salary paid in advance is included in the total income of any person for any previous year it shall not be included again in the total income of the person when the salary..... View Complete Act List Judgments citing this sectionTitle : B.--[Omitted]
State : Central
Year : 1961
View Complete Act List Judgments citing this sectionTitle : Liability of Person in Respect of Income Included in the Income of Another Person
State : Central
Year : 1961
Where, by reason of the provisions contained in this Chapter or in clause (i) of section 27, the income from any asset or from membership in a firm of a person other than the assessee is included in the total income of the assessee, the person in whose name such asset stands or who is a member of the firm shall, notwithstanding anything to the contrary contained in any other law for the time being in force, be liable, on the service of a notice of demand by the Assessing Officer in this behalf, to pay that portion of the tax levied on the assessee which is attributable to the income so included, and the provisions of Chapter XVIID shall, so far as may be, apply accordingly: Provided that where any such asset is held jointly by more than one person, they shall be jointly and severally..... View Complete Act List Judgments citing this sectionTitle : Cash Credits
State : Central
Year : 1961
Where any sum is found credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the sum so credited may be charged to income-tax as the income of the assessee of that previous year. View Complete Act List Judgments citing this sectionTitle : Tax on Profits and Gains of Life Insurance Business
State : Central
Year : 1961
(1) Where the total income of an assessee includes any profits and gains from life insurance business, the income-tax payable shall be the aggregate of (i) the amount of income-tax calculated on the amount of profits and gains of the life insurance business included in the total income, at the rate of twelve and one-half per cent ; and (ii) the amount of income-tax with which the assessee would have been chargeable had the total income of the assessee been reduced by the amount of profits and gains of the life insurance business. (2) Notwithstanding anything contained in sub-section (1) or in any other law for the time being in force or any instrument having the force of law, the assessee shall, in addition to the payment of income-tax computed under subsection (1), deposit,..... View Complete Act List Judgments citing this sectionTitle : Credit for Advance Tax
State : Central
Year : 1961
Any sum, other than a penalty or interest, paid by or recovered from an assessee as advance tax in pursuance of this Chapter shall be treated as a payment of tax in respect of the income of the period which would be the previous year for an assessment for the assessment year next following the financial year in which it was payable, and credit therefor shall be given to the assessee in the regular assessment. View Complete Act List Judgments citing this section