Bare Act Search Results

Finance Act, 1983 Complete Act

State: Central

Year: 1983

.....OF CLOSELY-HELD COMPANIES - [Note this section has been omitted by Finance Act 18 to 1992 S. 117 (1-4-1993)]. SECTION 41: (Amendments to Wealth-tax Act incorporated in that Act. hence not given,] SECTION 42: AMENDMENT OF SECTION 5 - (Amendments incorporated in the Principal Act]. SECTION 43: AMENDMENT OF SECTION 4 - Insection 4 of the Interest-tax Act, 1974-the following proviso shall be inserted at the end, namely:- "Provided that the rate at which interest-tax shall be charged in respect of any chargeable interest accruing or arising after the 31st day of March, 1983 shall be three and a half per cent. of such chargeable interest" SECTION 44: AMENDMENT OF ACT 51 OF 1975 - [Amendments incorporated in the Customs Tariff Act, 1975] SECTION 45: AUXILIARY DUTIES OF CUSTOMS (1) In the case of goods mentioned in the First Schedule to the Customs Tariff Act, or in that Schedule as amended from-time to time. there shall believed and collected as an auxiliary duty of customs an amount equal to fifty percent. of the value of the goods as determined in accordance with the provisions ofSection 14 of the Customs Act, 1962-(hereinafter referred to as the Customs Act). (2) Sub-section (1).....

Finance Act, 1983 Section 2

Title: Income-tax

State: Central

Year: 1983

.....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 referred 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 provisions of sub-section (6), the 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).....

Finance Act, 1983 Chapter II

Title: Rates of Income-tax

State: Central

Year: 1983

.....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 referred 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 provisions of sub-section (6), the 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).....

The Tamil Nadu Cooperative Societies Act, 1983 Complete Act

State: Tamil Nadu

Year: 1983

THE TAMIL NADU CO-OPERATIVE SOCIETIES ACT, 1983 THE TAMIL NADU CO-OPERATIVE SOCIETIES ACT, 1983 (ACT NO.30 OF 1983) Brought into force with effect from 13-4-1988. No. II(2)/CO/1568(b)/88-G.o.Ms.No.115, dated 24-3-1988, Published in the Tamil Nadu Government Gazette Extraordinary, Part II, Section 2, dated 1-4-1988. [Received the assent of the President on the 15th July 1983 first published in the Tamil Nadu Government Gazette Extraordinary on the 1st November, 1983] An Act to amend and consolidate the law relating to and to make better provision for, the organization, management and supervision of co-operative societies in the State of Tamil Nadu. WHEREAS it is expedient further to provide for an orderly development of the co-operative movement in accordance with co-operative principles such as open membership, democratic management limited interest on capital, distribution of surplus based on patronage, provision for co-operative education and co-operation among co-operatives, for the promotion of thrift, self-help and mutual aid among persons with common socio-economic needs so as to bring about improvement in agriculture and industry, better methods of.....

Finance Act, 1983 Chapter III

Title: Direct Taxes

State: Central

Year: 1983

.....April, 1984, namely :- "43B. Certain deductions to be only on actual payment. - Notwithstanding anything contained in any other provision of this Act, a deduction otherwise allowable under this Act in respect of - (a) any sum payable by the assessee by way of tax or duty under any law for the time being in force, or (b) any sum payable by the assessee as an employer by way of contribution to any provident fund or superannuation fund or gratuity fund or any other fund for the welfare of employees, 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. Explanation : For the removal of doubts, it is hereby declared that where a deduction in respect of any sum referred to in clause (a) or clause (b) of this section is allowed in computing the income referred to in 28 of the previous year (being a previous year relevant to the assessment year commencing on the 1st day of April, 1983 or any earlier assessment year) in which the.....

West Bengal Cooperative Societies Act, 1983 Complete Act

State: West Bengal

Year: 1983

.....an officer not below the rank of an Assistant Registrar of Cooperative Societies as may be prescribed; 1010. Clause (19a) was first inst. by W.B. Act 27 of 1989, then subs. by W.B. Act 22 of 1992. (19a) "Director of Co-operative Audit" means the person appointed to be the Director of Co-operative Audit under sub-section (2) of section 9; (20) "dispute" means any matter capable of being the subject of civil litigation, and includes a claim in respect of any sum payable to or by a co-operative society; 1111. Clause (21) subst. by W.B. Act 21 of 1990. (21) "district co-operative union" means a co-operative society which has an area of membership extending to the whole of a co-operative range and the primary object of which is to assist the State Co-operative Union in implementing its objects; (22) "engineers' co-operative" means a co-operative society formed of unemployed (i) degree holders in any branch of engineering, technology, science, commerce, arts or agriculture, or (ii) diploma holders in any branch of engineering, technology or agriculture, or (iii) certificate holders in any industrial trade, for their exclusive benefit, the percentage of degree or diploma holders.....

Finance Act, 1983 Schedule I

Title: First Schedule

State: Central

Year: 1983

.....any debentures issued by a company where such debentures 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 (vi) on any other income (excluding interest payable on a tax-free security) 20 per cent. 2.5 per cent.; (b) where the person is not resident in India - (i) in the case of a non-resident Indian - (A) on investment income and long-term capital gains 20 per cent. 2.5 per cent.; (B) on income by way of interest payable on a tax-free security 15 per cent. 1.875 per cent.; (C) on the whole of the other income cent. of the amount of the income, income-tax at 30 per cent. and surcharge at 3.75 per or income-tax and surcharge on income-tax in respect of the income at the rates prescribed in Sub-Paragraph I of Paragraph A of Part III of this Schedule, if such income had been the total income, whichever is higher; (ii) in the.....

Finance Act, 1983 Section 36

Title: Insertion of New Chapter Xii-a

State: Central

Year: 1983

.....into money. 115G. Return of income not to be filed in certain cases. - It shall not be necessary for a nonresident Indian to furnish under sub-section (1) of section 139 A return of his income if - (a) his total income in respect of which he is assessable under this Act during the previous year consisted only of investment income or income by way of long-term capital gains or both; and (b) the tax deductible at source under the provisions of Chapter XVII-B has been deducted from such income. 115H. Benefit under Chapter to be available in certain cases even after the assessee becomes resident. - Where a person, who is a non-resident Indian In Any previous year, becomes assessable as resident in India in respect of the total income of any subsequent year, he may furnish to the Income-tax Officer a declaration in writing along with his return of income under section 139 for the assessment year for which he is so assessable, to the effect that the provisions of this Chapter shall continue to apply to him in relation to the investment income derived from any foreign exchange asset being an asset of the nature referred to in sub-clause (ii) or sub-clause (iii) or.....

Finance Act, 1983 Section 40

Title: Revival of Levy of Wealth-tax in the Case of Closely-held Companies

State: Central

Year: 1983

..... (v) land other than agricultural land; (vi) building or land appurtenant thereto, other than building or part thereof used by the assessee as factory, godown, warehouse, hotel or office for the purposes of its business or as residential accommodation for its employees or as a hospital, enter, school, canteen, library, recreation enter, shelter, rest-room or lunch room mainly for the welfare of its employees and the land appurtenant to such building or part : Provided that each such employee is an employee whose income (exclusive of the value of all benefits or amenities not provided for by way of monetary payment) chargeable under the head "Salaries" under the Income-tax Act does not exceed eighteen thousand rupees; (vii) motor-cars; and (viii) any other asset which is acquired or represented by a debt secured on any one or more of the assets referred to in clause (i) to clause (vii). (4) The value of any asset specified in sub-section (3) shall, subject to the provisions of sub-section (3) of section 7 of the Wealth-tax Act, be estimated to be the price which, in the opinion of the Wealth-tax Officer, it would fetch if sold in the open market on the valuation.....

The Orissa Relief Undertakings (Special Provisions) Act, 1983 Complete Act

State: Orissa

Year: 1983

.....company" has the meaning assigned to it in section 617 the Companies Act, 1956. (2) "industry" means'' any business, trade, undertaking, manufacture, calling of employers and includes any calling, service, employment, handicraft or industrial occupation or avocation of workmen, and the word "industrial" shall be construed accordingly; (3) "relief undertaking" means a State industrial undertaking in respect of which a declaration under section 3 is in force; (4) "State industrial undertaking" means an industrial undertaking;" (a) which is started, or which, or the management of which, is under any arrangement or agreement acquired or, otherwise taken over by the State Government, or by a Government Company and is run or proposed to be run by, or under the authority of, the State Government , or a Government Company; or (b) to which any loan, advance, or grant has been given, in respect of any loan whereof, a guarantee has been given, by the State Government or a Government Company. 3. Declaration of relief undertaking. The State Government may, if it is satisfied that it is necessary or expedient so to do in the public interest, with a view to enabling the.....