Bare Act Search Results

Finance Act, 2001 Complete Act

State: Central

Year: 2001

FINANCE ACT, 2001 FINANCE ACT, 2001 14 of 2001 An Act to give effect to the financial proposals of the Central Government for the financial year 2001-2002 BE it enacted by Parliament in the Fifty-second Year of the Repub of India as follows :" SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called theFinance Act, 2001-. (2) Save as otherwise provided in this Act,section 2-toSection 101-shall be deemed to have come into force on the 1st day of April, 2001. SECTION 02: INCOME-TAX (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2001, income-tax shall be charged at the rates specified in Part I of the First Schedule and such tax as reduced by the rebate of income-tax calculated underChapter 8A of the Income-tax Act, 1961-(43 of 1961) (hereinafter referred to as the Income-tax Act) 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 Paragraph A of.....

Finance Act 2001 Chapter 3

Title: Direct Taxes

State: Central

Year: 2001

.....consists of a house or part of a house which - (a) is in the occupation of the owner for the 'purposes of his own residence; or (b) cannot actually be occupied by the owner by reason of the fact that owing to his employment, business or profession carried on at any other place, he has to reside at that other place in a building not belonging to him. the annual value of such house or part of the house shall be taken to be nil. (3) The provisions of sub-section (2) shall not apply if- (a) the house or part of the house is actually let during the whole or any part of the previous year; or (b) any other benefit there from is derived by the owner. (4) Where the property referred to in sub-section (2) consists of more than one house (a) the provisions of that sub-section shall apply only in respect of one of such houses, which the assessee may, at his option, specify in this behalf ; (b) the annual value of the house or houses, other than the house in respect of which the assessee has exercised an option under clause (a), shall be determined under sub-section (1) as if such house or houses had been let.". Section 15 - Substitution of new section for section 24.....

Finance Act 2001 Chapter V

Title: Service Tax

State: Central

Year: 2001

.....whether movable or immovable, or of any person, in any manner and includes the services of investigation, detection or verification, of any fact or activity, whether of a personal nature or otherwise, including the services of providing security personnel; (63) "service tax" means tax leviable under the provisions of this Chapter; (64) "ship" means a sea-going vessel and includes a sailing vessel; (65) "shipping line" means any person who owns or charters a ship and includes an enterprise which operates or manages the business of shipping; (66) "sound recording" means recording of sound on a magnetic storage device and editing thereof, in any manner; (67) "sound recording studio or agency" means any commercial concern engaged in the business of rendering any service relating to sound recording; (68) "steamer agent" means any person who undertakes, either directly or indirectly ,- (a) to perform any service in connection with the ship's husbandry or dispatch including the rendering of administrative work related thereto; or (b) to book, advertise or canvass for cargo for or on behalf of a shipping line; or (c) to provide container feeder services for or.....

Finance Act 2001 Section 137

Title: Amendment of Act 32 of 1994

State: Central

Year: 2001

.....whether movable or immovable, or of any person, in any manner and includes the services of investigation, detection or verification, of any fact or activity, whether of a personal nature or otherwise, including the services of providing security personnel; (63) "service tax" means tax leviable under the provisions of this Chapter; (64) "ship" means a sea-going vessel and includes a sailing vessel; (65) "shipping line" means any person who owns or charters a ship and includes an enterprise which operates or manages the business of shipping; (66) "sound recording" means recording of sound on a magnetic storage device and editing thereof, in any manner; (67) "sound recording studio or agency" means any commercial concern engaged in the business of rendering any service relating to sound recording; (68) "steamer agent" means any person who undertakes, either directly or indirectly ,- (a) to perform any service in connection with the ship's husbandry or dispatch including the rendering of administrative work related thereto; or (b) to book, advertise or canvass for cargo for or on behalf of a shipping line; or (c) to provide container feeder services for or.....

Finance Act 2001 Section 44

Title: Amendment of Section 80-ia

State: Central

Year: 2001

.....; (c) after sub-section (2), the following sub-section shall be inserted, namely :- "(2A) Notwithstanding anything contained in sub-section (1) or sub-section (2), the deduction in computing the total income of an undertaking providing telecommunication services, specified in clause (ii) of sub-section (4), shall be hundred per cent. of the profits and gains of the eligible business for the first five assessment years commencing at any time during the periods as specified in sub-section (2) and thereafter, thirty per cent. of such profits and gains for further five assessment years." ; (d) in sub-section (3), for the words "industrial undertaking" where ever they occur, the word "undertaking" shall be substituted with effect from the 1st day of April, 2002 ; (e) in sub-section (4),- (i) in clause (i),- (A) for the words, brackets and figures "of (i) developing, (ii) maintaining and operating or (iii) developing, maintaining and operating", the words, brackets and figures "of (i) developing or (ii) operating and maintaining or (iii) developing, operating and maintaining" shall be substituted with effect from the 1st day of April, 2002 ; (B) for.....

Finance Act 2001 Schedule VII

Title: Seventh Schedule

State: Central

Year: 2001

.....mixtures for pipes and cigarettes Kg. 45% 2403 10 31 ---- Other than paper rolled biris, manufactured without the aid of machine Tu Re. 1.00 per thousand 2403 10 39 ---- Other Tu Rs. 2.00 per thousand 2403 10 90 --- Other Kg. 10% 2403 91 00 -- Homogenised or reconstituted tobacco Kg. 10% 2403 99 10 --- Chewing tobacco Kg. 10% 2403 99 20 --- Preparations containing chewing tobacco Kg. 10% 2403 99 30 --- Jarda scented tobacco Kg. 10% 2403 99 40 --- Snuff Kg. 10% 2403 99 50 --- Preparations containing snuff Kg. 10% 2403 99 60 --- Tobacco extracts and essence Kg. 10% 2403 99 90 --- Other Kg. 10% 2709 00 00 .....

The Orissa Public Libraries Act, 2001 Complete Act

State: Orissa

Year: 2001

.....and (c) Director, who shall be the Member-Secretary; Powers and functions of Library Authority. 5. Subject to the provisions of this Act, the rules, made there under and the general or special direction, if any, of the Government, the Library Authority shall exercise the following powers and perform the following functions, namely: (a) to evolve, and, subject to the approval of Government, finalise perspective plans for the developments of public library system and library services in the State which shall be executed by it through the Director and to co-ordinate, and determine the standard of library services form village level to State level; (b) to sanction the opening of Public Libraries subject to availability of funds; (c) to decide policy for the selection and purchase of books required by Public Libraries in the State and, for that purpose, constitute sub-committed in such manner and consisting of such persons as may be prescribed; (d) to set up such other sub-committees may be necessary from time to time to regulate its work; (e) to approve and submit to Government every year, the audited statements of accounts and utilization certificates of.....

Finance Act 2001 Section 3

Title: Amendment of Section 2

State: Central

Year: 2001

.....shall be inserted with effect from the 1st day of June, 2001, namely :- '(22AA) "document" includes an electronic record as defined in clause (t) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000);'; (c) in clause (24), in sub-clause (ix), the following Explanation shall be Inserted with effect from the 1st day of April, 2002, namely :- 'Explanation.-For the purposes of this sub-clause,- (i) "lottery" includes winnings, from prizes awarded to any person by draw of lots or by chance or in any other manner whatsoever, under any scheme or arrangement by whatever name called ; (ii) card game and other game of any sort" includes any game show, an entertainment programme on television or electronic mode, in which people compete to win prizes or any other similar game;'; (d) after clause (28B), the following clause shall be inserted with effect from the 1st day of April, 2002, namely :- '(28BB) "insurer" means an insurer being an Indian insurance company, as defined under clause (7A) of section 2 of the Insurance Act,1938 (4 of 1938), which has been granted a certificate of registration under section 3 of that Act ;'

Finance Act 2001 Chapter VI

Title: Miscellaneous

State: Central

Year: 2001

.....hundred grams : Rs.16.00 For every five hundred grams, or fraction thereof, exceeding five hundred grams : Rs.15.00 Section 139 - Amendment of section 14 of Act 74 of 1956 In the Central Sales Tax Act, 1956, in section 14,- (a) after clause (iic), the following clause shall be inserted, namely:- '(iid) Aviation Turbine Fuel sold to a Turbo-Prop Aircraft. Explanation-For the purposes of this clause, "Turbo-Prop Aircraft" means an aircraft deriving thrust, mainly from propeller, which may be driven by either turbine engine or piston engine;'; (b) in clause (iv), in sub-clause (i), for the words "pig iron and", the words "pig iron, sponge iron and" shall be substituted. Section 140 - Omission of section 55 of Act 61 of 1981 Section 55 of the National Bank for Agriculture and Rural Development Act, 1981 shall be omitted with effect from the 1st day of April, 2002. Section 141 - Omission of section 48 of Act 53 of 1987 Section 48 of the National Housing Bank Act, 1987 shall be omitted with effect from the 1st day of April, 2002. Section 142 - Omission of section 50 of Act 39 of 1989 Section 50 of the Small Industries Development Bank of India Act, 1989.....

Finance Act 2001 Section 138

Title: Amendment of Act 6 of 1898

State: Central

Year: 2001

.....is used in response to any competition organised on or through television, radio, newspapers, magazine or any other media. Book, pattern and sample packets For the first fifty grams or fraction thereof : Rs. 3.00 For every additional fifty grams, or fraction thereof, in excess of fifty grams: Rs. 4.00 Registered newspapers For a weight not exceeding fifty grams : 25 paise For a weight exceeding fifty grams but not exceeding one hundred grams : 50 paise For every additional one hundred grams, or fraction thereof, exceeding one hundred grams : 20 paise In the case of more than one copy of the same issue of a registered newspaper being carried in the same packet- For a weight not exceeding one hundred grams : 50 paise For every additional one hundred grams, or fraction thereof, exceeding one hundred grams : 20 paise Provided that such packet shall not be delivered at any addressee's residence but shall be given to a recognised agent at the Post Office. Parcels For a weight not exceeding five hundred grams : Rs.16.00 For every five hundred grams, or fraction thereof, exceeding five hundred grams : Rs.15.00