Bare Act Search Results
Home Bare Acts Phrase: compulsory depositeSign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free TrialCompulsory Deposit Scheme (Income Tax Payers) Act, 1974, Complete Act
Title: Compulsory Deposit Scheme (Income Tax Payers) Act, 1974,
State: Central
Year: 1974
.....of wealth-tax Section8 - Repayment of compulsory deposit Section9 - Intimation regarding compulsory deposit Section10 - Penalty for failure to make compulsory deposit Section11 - Authorities Section12 - Appeals and revisions Section12A - Special review in certain cases Section13 - Rectification of mistakes Section14 - Collection and recovery of compulsory deposit and penalty Section15 - Rounding off Section16 - Applicability of Chapter XV of Income-tax Act Section17 - Protection against attachment Section18 - Protection of action taken in good faith Section19 - Compulsory Deposit Scheme Section20 - Power to remove difficulties Section21 - Repeal and saving ScheduleI - SCHEDULE Amending Act1 - COMPULSORY DEPOSIT SCHEME (INCOME-TAX PAYERS) AMENDMENT ACT, 1981 Amending Act2 - COMPULSORY DEPOSIT SCHEME (INCOME-TAX PAYERS) AMENDMENT ACT, 1985
List Judgments citing this sectionCompulsory Deposit Scheme (Income Tax Payers) Act, 1974, Section 10
Title: Penalty for Failure to Make Compulsory Deposit
State: Central
Year: 1974
.....in Sub-section (1) of Section 3, any person who is liable to make a compulsory deposit [being a person falling under Clause (a) or Clause (b) of Sub-section (3) of section 4]-- (a)1[has, without reasonable cause, failed to make] the compulsory deposit within the time allowed under section 5, or (b) has made the compulsory deposit within such time but the deposit so made falls short of2[the requisite amount and there is no reasonable cause for making such short payment], the3[Income-tax Officer may], by order in writing, direct that such person shall pay, by way of penalty, a sum-- (i) which, in the case referred to in Clause (a), shall be equal to twenty-five per cent of the compulsory deposit which he is liable to make; and (ii) which, in the case referred to in Clause (b), shall be equal to twenty-five per cent of the amount by which the compulsory deposit made by him falls short of the requisite amount. (2) If, in relation to an assessment year referred to in Sub-section (1) of Section 3, the correct income of a person falling under Clause (c) of Sub-section (3) of Section 4, exceeds fifteen thousand rupees and such person,-- (a)1[has, without reasonable cause,.....
View Complete Act List Judgments citing this sectionCompulsory Deposit Scheme (Income Tax Payers) Act, 1974, Section 4
Title: Requirement as to Compulsory Deposit
State: Central
Year: 1974
.....after the 1st day of April, 1986), at the rates specified in Paragraph D of the Schedule.]] (2) Where in the case of any person specified in Sub-section (2) of Section 3, a deduction is required to be made under the Additional Emoluments (Compulsory Deposit) Ordinance, 1974, the amount of the compulsory deposit which such person is liable to make under this Act for any assessment year shall be reduced by the amount deducted under that Ordinance during the financial year immediately preceding that assessment year; and where such deduction is equal to or exceeds the amount of such compulsory deposit, it shall not be necessary for such person to make a compulsory deposit for that assessment year. Explanation.-- When any Central Act repeals and replaces (with or without any modification) the Additional Emoluments (Compulsory Deposit) Ordinance, 1974, the references to the said Ordinance in this sub-section shall be construed as references to such Central Act. (3) For the purposes of this section, "current income", in relation to an assessment year, means,-- (a)2[in a case where a statement is sent by the person under Clause (a) of Sub-section (1) of Section 209A of the.....
View Complete Act List Judgments citing this sectionCompulsory Deposit Scheme (Income Tax Payers) Act, 1974, Section 8
Title: Repayment of Compulsory Deposit
State: Central
Year: 1974
.....shall carry interest for the period it is not withdrawn as if it were a compulsory deposit, and the provisions of this Act shall, so far as may be, apply in relation to such amount or interest thereon as they apply in relation to a compulsory deposit or as the case may be, interest on such deposit.] ________________________ 1. Section 8 renumbered as Sub-section(1) thereof and after Sub-section (1) so renumbered, Sub-section (2) inserted by Financial (No. 1) Act (44 of 1980),section 53(c) w.e.f. 1-4-1981. 2. Substituted for the words "provided that" and proviso inserted by the Compulsory Deposit Scheme (Income-tax Payers) Amendment Act (25 of 1985),section2 w.e.f. 30-3-1985. 3. Inserted by the Finance Act (16 of 1981),section 53(c) w.e.f. 1-6-1981. 4. Substituted for Clauses (i) and (ii) by the Finance Act (11 of 1983),section 59(d) w.e.f. 1-6-1983.
View Complete Act List Judgments citing this sectionAdd Emoluments Compulsory Deposit Act 1974 Chapter II
Title: Compulsory Deposit of Additional Emoluments
State: Central
Year: 1974
.....of its provisions shall take effect, either prospectively or retrospectively, on such date, not being a date earlier than the appointed day, as may be specified in this behalf in the scheme and every scheme framed under this section shall have effect notwithstanding anything contained in any law (other than this Act) for the time being in force or in any instrument having effect by virtue of any enactment other than this Act. (4) The Central Government may make a scheme to add to, amend or vary any scheme framed under sub-section M. Section 11 - Rounding off Where the amount of any credit to be made in any Deposit Account contains a part of a rupee, then, such part, if it is fifty paise or more, shall be increased to one complete rupee and if it is less than fifty paise, it shall be ignored.
View Complete Act List Judgments citing this sectionCompulsory Deposit Scheme Act 1963 Section 4
Title: Requirement as to Compulsory Deposit
State: Central
Year: 1963
.....of such deposit having been made, reduce the amount of additional surcharge included in the tax to be deducted in accordance with the provisions of section 192 of that Act by a sum which shall be equal to-- (a) the sum so deposited, or (b) the sum calculated in accordance with clause (b) of sub-section (3), whichever is less. (5) Any person falling under clause(b) of section2 who is liable to pay advance tax under the Income-tax under the Income-tax Act in any financial year may make a deposit under this Act in that yearand if he does so, then, notwithstanding anything containedin the Income-tax Act, he shall, on production of proof before the income-tax officer concerned of the fact of such deposit having been made,be entitled to deduction from the additional surcharge included in the advance tax, of a sum which shall be equal to-- (a) the sum so deposited, or (b) the sum calculated in accordance with clause (b) of sub-section (3), Whichever is less. Explanation.--In this sub-section, "advance tax" shall have the same meaning as in section 207 of the Income-tax Act. (6) Where a person falling under clause (d) of section 2 pays in any year any sum,-- (i) to.....
View Complete Act List Judgments citing this sectionCompulsory Deposit Scheme (Income Tax Payers) Act, 1974, Amending Act 1
Title: Compulsory Deposit Scheme (Income-tax Payers) Amendment Act, 1981
State: Central
Year: 1974
.....section 4.-- In section 4 of the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974 (38 of 1974.) (hereinafter referred to as the principal Act), in sub-section (1). (a) in clause (ii), the word "and:, occurring at the end, shall be omitted; (b) for clause (iii) , the following clauses shall be substituted namely:- "(iii) for the assessment year commencing on the 1st day of April, 1979, the assessment year commencing on the 1st day of April , 1980 and the assessment year commencing on the 1st day of April, 1981, at the rates specified in Paragraph C of the Schedule; and (iv) for the assessment year commencing on the 1st day of April 1982 and the assessment year commencing on the 1st day of April 1983, at the rates specified in Paragraph D of the Schedule." 3. Amendment of the Schedule.-- In the Schedule to the principal Act,-- (a) before the proviso, the following Paragraph shall be inserted, namely:-- Paragraph D (i) Where the current income exceeds Rs. 15,000 but does not exceed Rs.25,000. 4.5 per cent. of the current income.; (ii) Where the current income exceeds Rs.25,000 but does not exceeds Rs.35,000 .....
View Complete Act List Judgments citing this sectionCompulsory Deposit Scheme (Income Tax Payers) Act, 1974, Section 14
Title: Collection and Recovery of Compulsory Deposit and Penalty
State: Central
Year: 1974
.....the deposit or payment or allow the deposit or payment to be made by instalments subject to such conditions as he may think fit to impose in the circumstances of the case. (3) If a depositor fails to make the compulsory deposit within the time allowed under Section 5, or if he fails to deposit or, as the case may be, pay the amount which he is required to deposit or pay by notice under Sub-section (1) within the time allowed under Sub-section (2) (whether fixed originally or on extension), at the place and with or to the person mentioned in the said notice, the depositor shall be deemed to be in default. (4) Any arrear of compulsory deposit and any penalty imposed under this Act shall be recoverable in the manner provided in Chapter XVII-D of the Income-tax Act for recovery of arrears of tax and for this purpose the provisions of that Chapter shall apply as if references to the assessee therein were references to the depositor.
View Complete Act List Judgments citing this sectionCompulsory Deposit Scheme Act 1963 Complete Act
Title: Compulsory Deposit Scheme Act 1963
State: Central
Year: 1963
Preamble1 - COMPULSORY DEPOSIT SCHEME ACT, 1963 Section1 - Short title, extent and commencement Section2 - Persons to whom Act applies Section3 - Definitions Section4 - Requirement as to compulsory deposit Section5 - Compulsory Deposit Scheme Section6 - Modification of Scheme Section7 - Rounding off Section8 - Power to suspend, reduce or remit the amount of compulsory deposit Section9 - Power to exempt Section10 - Power to delegate Section11 - Protection against attachment Section12 - Penalty for failure to make deposit Section13 - Recovery of arrears of deposit and penalty Section14 - Protection of action taken in good faith Section15 - Power to remove difficulties Section16 - Scheme to be laid before the House of Parliament
List Judgments citing this sectionCompulsory Deposit Scheme (Income Tax Payers) Act, 1974, Section 19
Title: Compulsory Deposit Scheme
State: Central
Year: 1974
.....notification issued under Sub-section (3) shall have effect notwithstanding anything contained in any law for the time being in force (other than this Act) or any instrument having effect by virtue of any law other than this Act. (6) Every scheme framed under Sub-section (1) and every notification issued under Sub-section (3) shall be laid, as soon as may be, after it is framed or issued before each House of Parliament while it is in session for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if before the expiry of the session immediately following the session or the successive sessions aforesaid both Houses agree in making any modification in the scheme or notification or both Houses agree that the scheme or notification should not be framed or issued, the scheme or notification shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that scheme or notification.
View Complete Act List Judgments citing this section- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial