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Karnataka Town and Country Planning Act, 1961 Section 65

Title: Payment of Net Amount Due to Planning Authority

State: Karnataka

Year: 1961

(1) The net amount payable under the provisions of this Act by the owner of a plot included in the final scheme may, at the option of the contributor, be paid in lump sum or annual instalments not exceeding ten. If the owner elects to pay the amount by instalments, interest at four and a half per cent per annum shall be charged on the net amount payable. If the owner of a plot fails to so elect on or before the date specified in a notice issued to him, he shall be deemed to have elected to pay the contribution by instalments and the interest on the contribution shall be calculated from the date specified in the notice, being the date before which he was required to make an election as aforesaid. (2) Where two or more plots included in the final scheme are in the same ownership, the net amount payable by such owner under the provisions of this Act shall be distributed over his several plots in proportion to the increment which is estimated to accrue in respect of each plot, unless the owner and the Planning Authority agree to a different method of distribution.

Income Tax Act, 1961 Section 195A

Title: Income Payable "net of Tax"

State: Central

Year: 1961

1[In a case other than that referred to in sub-section (1A) of section 192, where under an agreement] or other arrangement, the tax chargeable on any income referred to in the foregoing provisions of this Chapter is to be borne by the person by whom the income is payable, then, for the purposes of deduction of tax under those provisions such income shall be increased to such amount as would, after deduction of tax thereon at the rates in force for the financial year in which such income is payable, be equal to the net amount payable under such agreement or arrangement. _______________ 1. Substituted for Where, under an agreement by the Finance Act, 2002, with effect from 1st June, 2002.

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 Chapter VI

Title: Aggregation of Income and Set off or Carry Forward of Loss

State: Central

Year: 1961

.....or amalgamation or demerger had not taken place.] 5[(aa) industrial undertaking means any undertaking which is engaged in - (i) the manufacture or processing of goods; or (ii) the manufacture of computer software; or (iii) the business of generation or distribution of electricity or any other form of power; or 6[(iiia) the business of providing telecommunication services, whether basic or cellular, including radio paging, domestic satellite service, network of trunking, broadband network and internet services; or] (iv) mining; or (v) the construction of ships, aircrafts or rail systems; ] 10[(b) "unabsorbed depreciation" means so much of the allowance for depreciation of the predecessor firm or the proprietary concern or the private company or unlisted public company before conversion into limited liability partnership or the amalgamating company or the demerged company, as the case may be, which remains to be allowed and which would have been allowed to the predecessor firm or the proprietary concern or the company or amalgamating company or demerged company, as the case may be, under the provisions of this Act, if the reorganisation of business or.....

Income Tax Act, 1961 Section 54E

Title: Capital Gain on Transfer of Capital Assets Not to Be Charged in Certain Cases

State: Central

Year: 1961

.....under the Unit Trust of India Act, 1963 (52 of 1963); (iv) debentures specified by the Central Government for the purposes of clause (ii) of sub-section (1) of section 80L ; (v) shares in any Indian company which are issued to the public or are listed in a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956), and any rules made thereunder, where the investment in such shares is made before the 1st day of March, 1978 ; (va) equity shares forming part of any eligible issue of capital, where the investment in such shares is made after the 28th day of February, 1978; (vi) deposits for a period of not less than three years with the State Bank of India established under the State Bank of India Act, 1955 (23 of 1955), or any subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959) or any nationalised bank, that is to say, any corresponding new bank, constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or any co-operative society engaged in carrying on the business of banking (including a co-operative land.....

Karnataka Land Reforms Act, 1961 Chapter IV

Title: Ceiling on Land Holdings

State: Karnataka

Year: 1961

.....any land, otherwise than by partition or by donation to the 2 [Karnataka Boodan Yagna Board] established under the 2 [Karnataka] Bhoodan Yagna Act, 1963 (3 [Karnataka Act] 34 of 1963) or by sale to the tenant of such land in conformity with any law for the time being in force, then in calculating the ceiling area which that person is entitled to hold, the area so transferred shall be taken into account and the land exceeding the ceiling area so calculated shall be deemed to be in excess of the ceiling area notwithstanding that the land remaining with him may not in fact be in excess of the ceiling area. If by reason of such transfer the person's holding is less than the area so calculated to be in excess of the ceiling area, then all his lands shall be deemed to be surplus land and the provisions of sections 66 to 76 shall, as far as may be, apply to the surrender to and vesting in the State Government of such excess land. ExplanationFor purposes of this sub-section the land shall be deemed to have been transferred if it has been transferred by act of parties (whether by sale, gift, mortgage with possession, exchange, lease or any other kind of disposition made.....

Income Tax Act, 1961 Section 50B

Title: Special Provision for Computation of Capital Gains in Case of Slump Sale

State: Central

Year: 1961

.....slump sale, shall furnish in the prescribed2 form along with the return of income, a report of an accountant as defined in the Explanation below sub-section (2) of section 288 indicating the computation of the net worth of the undertaking or division, as the case may be, and certifying that the net worth of the undertaking or division, as the case may be, has been correctly arrived at in accordance with the provisions of this section. 3[Explanation 1 : For the purposes of this section, "net worth" shall be the aggregate value of total assets of the undertaking or division as reduced by the value of liabilities of such undertaking or division as appearing in its books of account: Provided that any change in the value of assets on account of revaluation of assets shall be ignored for the purposes of computing the net worth. Explanation 2 : For computing the net worth, the aggregate value of total assets shall be, -- (a) in the case of depreciable assets, the written down value of the block of assets determined in accordance with the provisions contained in sub-item (C) of item (i) of sub-clause (c) of clause (6) of section 43 ; 4[***] 5[(b) in the case of capital assets.....

Karnataka Land Reforms Act, 1961 Chapter III

Title: Conferment of Ownership on Tenants

State: Karnataka

Year: 1961

.....determine and shall not be enforceable against the State Government. ______________________________________ 1. Sections 44 and 45 substituted by Act 1 of 1974 w.e.f. 1.3.1974. 2. Omitted by Act 23 of 1977 w.e.f. 1.3.1974. Section 45 - Tenants to be registered as occupants of land on certain conditions (1) Subject to the provisions of the succeeding sections of this Chapter, every person who was a permanent tenant, protected tenant or other tenant or where a tenant has lawfully sublet, such sub-tenant shall, with effect on and from the date of vesting, be entitled to be registered as an occupant in respect of the lands of which he was a permanent tenant, protected tenant or other tenant or sub-tenant before the date of vesting and which he has been cultivating personally. (2) If a tenant or other person referred to in sub-section (1),-- (i) holds land partly as owner and partly as tenant but the area of the land held by him as owner is equal to or exceeds a ceiling area he shall not been entitled to be registered as an occupant of the land held by him as a tenant before the date of vesting; (ii) does not hold and cultivate personally any land as an owner, but holds.....

Karnataka Land Reforms Act, 1961 Section 72

Title: Amount Payable for Lands Surrendered to and Vesting in the State Government

State: Karnataka

Year: 1961

..... (3) The amount under sub-section (1) shall be payable as follows:-- (a) to the tenant, if any, in possession of the land, an amount equal to one year's net annual income; (b) to the owner, the balance. (4) Where there are wells or other structures of a permanent nature on the land, constructed by the owner then, the value thereof calculated in the prescribed manner shall also be payable. (5) Notwithstanding anything in sub-sections (1) and (4), the aggregate amount payable according to the said sub-sections shall not exceed rupees two lakhs. 2[(6) x x x]] _______________________________ 1. Substituted by Act 1 of 1974 w.e.f. 1.3.1974. 2. Omitted by Act 1 of 1979 w.e.f. 1.3.1974.

Institutes of Technology Act, 1961 Complete Act

State: Central

Year: 1961

.....the Institute at Kharagpur was declared by Parliament as an institution of national importance under the Indian Institute of Technology (Kharagpur) Act, 1956. The Act came into force on the 1st April, 1957 and the Institute has been since functioning as an autonomous body corporate. 2. The three other institutions named as the Indian Institute of Technology, Bombay, the Indian Institute of Technology, Madras, and the Indian Institute of Technology, Kanpur, were started in 1958, 1959 and 1960, respectively, and were registered under the Societies Registration Act, 1860. All the four institutions, provide first degree courses in addition to facilities for post-graduate studies and advanced research. This requires and provides co-operation between work at the post-graduate level and the first degree level for the mutual benefit of both and also results in full utilisation of the facilities created in these institutions. They aim at training personnel who will combine the highest technical competence with broad human sympathy as well as a practical outlook and awareness of the social implications of planning. The institutes have already succeeded in creating an atmosphere which.....