Bare Act Search Results

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 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.....

The Indian Stamp (Orissa Amendment) Act, 2001 Complete Act

State: Orissa

Year: 2001

.....(Orissa Amendment) Act, 2001. 2. Amendment of section 4. In section 4 of the Indian Stamp Act, 1899 (hereinafter referred to as the principal Act) in sub-section (1), for the words "one rupee and eight annas", the words "ten rupees" shall be substituted. 3. Amendment of section 6. In the proviso to section 6 of the principal Act, for the words "one rupee and eight annas", the words "ten rupees" shall be substituted. 4. Amendment of section 31. In section 31 of the principal Act, in sub-section (1), for the words "not exceeding five rupees" and "not less than fifty naye paise", the words "not exceeding twenty rupees" and "not less than five rupees", shall respectively be substituted. 5. Amendment of section 47-A. In section 47-A of the principal Act, in sub-section (2-a), for the words "two years", the words "three years" shall be substituted. 6.Amendment of section 73. For section 73 of the principal Act, the following section shall be sub stituted, namely:" "73. (1) Every public officer or any person having in his custody any registers, books, records, papers, documents or proceedings, the inspections whereof may tend to secure any duty, or to prove or.....

Finance Act 2001 Section 5

Title: Amendment of Section 10

State: Central

Year: 2001

.....the words "theController of Insurance", the words, brackets and figures "or theInsurance Regulatory and Development Authority established under sub-section(1) of section 3 of the Insurance Regulatory and Development Authority Act,1999 (41 of 1999), as the case may be" shall be inserted ; (d) after clause (23BBC), the following clause shall be inserted,namely :- '(23BBD) any income of the Secretariat of the AsianOrganisation of the Supreme Audit Institutions registered as"ASOSAI-SECRETARIAT" under the Societies Registration Act, 1860 (21of 1860), for three previous years relevant to the assessment years beginningon the 1st day of April, 2001 and ending on the 31st day of March, 2004; (23BBE) any income of the Insurance Regulatory andDevelopment Authority established under sub-section (1) of section 3 of theInsurance Regulatory and Development Authority Act, 1999 (41 of 1999)'; (e) in clause (23C), - (a) in the third proviso,- (i) in clause (a), after the words "the objects forwhich it is established", the words, figures and letters "and in acase where more that twenty-five per cent of its income is accumulated on orafter the 1st day of April, 2001, the period of the.....

Finance Act 2001 Section 94

Title: Amendment of Section 273b

State: Central

Year: 2001

In section 273B of the Income-tax Act, with effect from the 1st day of April, 2002,- (a) after the word, figures and letter "section 271A", the word, figures and letters", section 271AA" shall be inserted ; (b) after the word, figures and letter "section 271B", the word, figures and letters", section 271BA" shall be inserted ; (c) after the word, figures and letter "section 271F", the word, figures and letter", section 271G" shall be inserted.

The East Punjab Urban Rent Restriction (Amendment) Act, 2001 Complete Act

State: Punjab

Year: 2001

.....building and the Controller shall make an order accordingly.". Section 4 - Amendment of Section 18-A of Punjab Act 3 of 1949 In the principal Act, in Section 18-A, - (i) in the heading, for the word, figure and letter "Section 13-A", the words, figures and letters "Section 13-A or Section 13-B" shall be substituted; (ii) for the word, figure and letter "section 13-A", wherever occurring, the words, figures and letters "Section 13-A or Section 13-B" shall be substituted; (iii) in sub-section (4), - (a) for the words "residential building or scheduled building," the words and sign "residential building or scheduled building and/or non- residential building" shall be substituted; and (b) after the words "or the widowed daughter-in-law of such specified landlord", the words "or the owner, who is a non-resident Indian" shall be inserted; (iv) in sub-section (5), - (a) after the words "or widowed daughter-in-law of such specified landlord", the words "or the owner, who is a non-resident Indian" shall be inserted; and (b) for the words "residential building or scheduled building", the words and sign "residential building or scheduled building and/or non-.....

Taxation Laws (Amendment) Act, 2001 Section 6

Title: Amendment of Section 80g

State: Central

Year: 2001

In section 80G of the Income-tax Act, -- (a) In sub-section (1), in clause (i), -- (i) After the words, brackets, figures and letter "or in sub-clause (iiig)", the words, brackets, figures and letters "or in sub-clause (iiiga)" shall be inserted; (ii) After the words, brackets and letter "or in clause (c)", the words, brackets and letter "or in clause (d)" shall be inserted; (b) In sub-section (2),-- (i) In clause (a), after sub-clause (iiig), the following sub-clause shall be inserted, namely: -- "(iiiga) any fund set up by the Slate Government of Gujarat exclusively for providing relief to the victims of earthquake in Gujarat;"; (ii) After clause (c), the following clause shall be inserted, namely: -- "(d) Any sums paid by the assessee, during the period beginning on the 26th day of January, 2001 and ending on the 30th day of September, 2001, to any trust, institution or fund to which this section applies for providing relief to the victims of earthquake in Gujarat." (c) After sub-section (55), the following sub-section shall be inserted, namely: -- "(5C) This sub-section applies in relation to amounts referred to in clause (d) Of sub-section (2) only.....

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.....

Narcotic Drugs and Psychotropic Substances (Amdndment) Act, 2001 Section 13

Title: Amendment of Section 31a

State: Central

Year: 2001

In section 31A of the principal Act, -- (a) in sub-section (1),-- (i) for the words, figures, brackets and letter "section 15 to section 25 (both inclusive) or section 27A", the words, figures and letter "section 19, section 24, section 27A and for offences involving commercial quantity of any narcotic drug or psychotropic substance" shall be substituted; (ii) in sub-clause (a), in the Table, in column (2), against entry (viii), for the figures and word " 1,500 grams", the words "lesser of the quantity between the quantities given against the respective narcotic drugs or psychotropic substances mentioned above forming part of the mixture" shall be substituted; (b) in sub-section (2), for the words, figures, brackets and letter "section 15 to section 25 (both inclusive), section 27A, section 28 or section 29", the words, figures and letter "section 19, section 24 or section 27A and for offences involving commercial quantity of any narcotic drug or psychotropic substance" shall be substituted.

The Western Orissa Development Council (Amendment) Act, 2001 Complete Act

State: Orissa

Year: 2001

.....if he- (a) is found, in performance of his functions under this Act, to have exceeded or abused his powers; or (b) refuses to act o is incapable of acting or acts in a manner which the Government consider to be prejudicial to the interests and objects of the Council: Provided that no action shall be taken under this sub-section without giving the person concerned an opportunity to show cause against the proposed action."; and (d) after sub-section (3), the following sub-section shall be inserted, namely;- "(3-a) The Government may, at any time, by an order published in the Gazette, withdraw the nomination of a member nominated on the Council and, upon such nomination being withdrawn, he shall cease to be a member of the Council from the date of publication of the order.". Amendment of section-7. 4. In section 7 of the principal Act, for sub-section (2), the following sub-section shall be substituted, namely:- "(2) The Council shall have powers to create Class-III and Class-IV posts as per parameters of guidelines for the same and fill up such posts in the manner prescribed.". Amendment of section-11. 5. In section 11 of the principal Act,- (a) in sub-section (1),- (i) in clause.....