Bare Act Search Results

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.....

Finance Act, 1999 Complete Act

State: Central

Year: 1999

.....1999-2000 Be it enacted by Parliament in the Fiftieth Year of the Republic of India as follows: - SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called the Finance Act 1999. (2) Save as otherwise provided in this Act, Sections 2 to 99 [except clause (1) of Section 6] shall be deemed to have come into force on the 1st day of April, 1999. 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, 1999, income tax shall be charged at the rates specified in Part I of the First Schedule. (2) In the cases to which Paragraph A of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income exceeding six hundred rupees, in addition to total income, and the total income exceeds fifty thousand rupees, then,- (a) the net agricultural income shall be taken into account, in the manner provided in clause (b) [that is to say, as if the net agricultural income were comprised in the total income after the first fifty thousand rupees of the total income but without being liable to tax], only for the purpose of charging income tax in respect of the.....

Finance Act 1999 Chapter III

Title: Direct Taxes Income-tax

State: Central

Year: 1999

.....paid, the cost shall be taken as nil; (b) "specified security" means the securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and includes employees' stock option and sweat equity shares; (c) "sweat equity shares" means equity shares issued by a company to its employees or directors at a discount or for consideration other than cash for providing know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called; and (d) "value" means the difference between the fair market value and the cost for acquiring specified securities.'. Section 11 - Amendment Of Section 24 In section 24 of the Income-tax Act, in sub-section (2), after the proviso, the following proviso shall be inserted with effect from the 1st day of April, 2000, namely :- 'Provided further that where the property is acquired or constructed with capital borrowed on or after the 1st day of April, 1999 and such acquisition or construction is completed before the 1st day of April, 2001, the provisions of the first proviso shall have effect as if for the words "thirty thousand rupees", the.....

Income Tax Act, 1961 Section 36

Title: Other Deductions

State: Central

Year: 1961

.....year on the taxable banking transactions entered into by him. Explanation: For the purposes of this clause, the expressions banking cash transaction tax and taxable banking transaction shall have the same meanings respectively assigned to them under Chapter VII of the Finance Act, 2005;] 12A[(xiv) any sum paid by a public financial institution by way of contribution to such credit guarantee fund trust for small industries as the Central Government may, by notification in the Official Gazette, specify in this behalf. Explanation.--For the purposes of this clause, "public financial institution" shall have the meaning assigned to it in section 4A of the Companies Act, 1956(1 of 1956);] 30[(xv) an amount equal to the securities transaction tax paid by the assessee in respect of the taxable securities transactions entered into in the course of his business during the previous year, if the income arising from such taxable securities transactions is included in the income computed under the head Profits and gains of business or profession. Explanation: For the purposes of this clause, the expressions securities transaction tax and taxable securities transaction shall.....

Finance Act 1999 Section 22

Title: Amendment of Section 36

State: Central

Year: 1999

In section 36 of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 2000, - (a) clause (iia) shall be omitted; (b) in clause (viia), in sub-clause (a), the following shall be inserted, namely :- 'Provided that a scheduled bank or a non-scheduled bank referred to in this sub-clause shall, at its option, be allowed in any of the relevant assessment years, deduction in respect of any provision made by it for any assets classified by the Reserve Bank of India as doubtful assets or loss assets in accordance with the guidelines issued by it in this behalf, for an amount not exceeding five per cent. of the amount of such assets shown in the books of account of the bank on the last day of the previous year. Explanation. - For the purposes of this sub-clause, "relevant assessment years" means the five consecutive assessment years commencing on or after the 1st day of April, 2000 and ending before the 1st day of April, 2005.'; (c) in clause (viii), - (i) the first proviso shall be omitted; (ii) in the second proviso, for the words "Provided further that", the words "Provided that" shall be substituted; (d) after clause (x), the following shall.....

Payment and Settlement Systems Act 2007 Complete Act

Title: Payment and Settlement Systems Act 2007

State: Central

Year: 2007

.....documents in the payment system confidential Section23 - Settlement and netting Chapter VI Section24 - Settlement of disputes Section25 - Dishonour of electronic funds transfer for insufficiency, etc., of funds in the account Chapter VII Section26 - Penalties Section27 - Offences by companies Section28 - Cognizance of offences Section29 - Application of fine Section30 - Power of Reserve Bank to impose fines Section31 - Power to compound offences Chapter VIII Section32 - Act to have overriding effect Section33 - Mode of recovery of penalty Section34 - Act not to apply to stock exchanges or clearing corporations of stock exchanges Section35 - Certain persons deemed to be public servants Section36 - Protection of action taken in good faith Section37 - Power of Reserve Bank to make regulations Section38 - Power of Reserve Bank to make regulations

Bonded Labour System Abolition Act, 1976 Complete Act

Title: Bonded Labour System Abolition Act, 1976

State: Central

Year: 1976

.....not to be evicted from homestead, etc Section9 - Creditor not to accept payment against extinguished debt Chapter IV Section10 - Authorities who may be specified for implementing the provisions of this Act Section11 - Duty of District Magistrate and other officers to ensure credit Section12 - Duty of District Magistrate and officers authorised by him Chapter V Section13 - Vigilance Committees Section14 - Functions of Vigilance Committees Section15 - Burden of proof Chapter VI Section16 - Punishment for enforcement of bonded labour Section17 - Punishment for advancement of bonded debt Section18 - Punishment for extracting bonded labour under the bonded labour system Section19 - Punishment for omission or failure to restore possession of property to bonded labourers Section20 - Abetment to bean offence Section21 - Offences to be tried by Executive Magistrates Section22 - Cognizance of offences Section23 - Offences by companies Chapter VII Section24 - Protection of action taken in good faith Section25 - Jurisdiction of civil courts barred Section26 - Power to make rules Section27 - Repeal and saving

Neyveli Lignite Corporation Limited (Acquisition and Transfer of Power Transmission System) Act, 1994 Complete Act

Title: Neyveli Lignite Corporation Limited (Acquisition and Transfer of Power Transmission System) Act, 1994

State: Central

Year: 1994

Preamble1 - NEYVELI LIGNITE CORPORATION LIMITED (ACQUISITION AND TRANSFER OF POWER TRANSMISSION SYSTEM) ACT, 1994 Chapter I Section1 - Short title, extent and commencement Section2 - Definitions Chapter II Section3 - Acquisition of rights of company in relation to the power transmission system Section4 - General effect of vesting Section5 - Corporation to be liable for certain prior liabilities Section6 - Corporation to be lessee or tenant Section7 - Removal of doubts Section8 - Payment of amount Chapter III Section9 - Duty of persons to account for assets, etc., in their possession Chapter IV Section10 - Continuance of associated personnel Section11 - Provident fund and other funds Chapter V Section12 - Act to have overriding effect Section13 - Penalties Section14 - Offences by companies Section15 - Protection of action taken in good faith Section16 - Power to make rules

Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 Complete Act

Title: Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005

State: Central

Year: 2005

..... Section10 - Prohibition as regards intimidating acts Section11 - Prohibition of export Section12 - Prohibition on brokering Section13 - Regulation of export, transfer, retransfer, transit and trans-shipment Section14 - Offences and penalties Section15 - Punishment for aiding non-State actor or terrorist Section16 - Punishment for unauthorised export Section17 - Punishment for violation of other provisions of Act Section18 - Penalty for using false or making forged documents, etc Section19 - Punishment for offences with respect to which no provision has been made Section20 - Offences by companies Section21 - Cognizance of Offences Section22 - Bar of jurisdiction of civil courts Section23 - Effect of other laws Section24 - Protection of action taken in good faith Section25 - Special provisions as to Central Government Section26 - Power to make rules Section27 - Power to remove difficulties

Finance (No. 2) Act, 2004 Section 90

Title: Amendment of Act 32 of 1994

State: Central

Year: 2004

.....clause shall be inserted, namely:-- '(46a) "forwardcontract" has the meaning assigned to it in clause (c) of section 2 of theForward Contracts (Regulation) Act, 1952(74 of 1952);'; (x) after clause (50), the following clauses shall beinserted, namely:-- '(50a) "goodscarriage" has the meaning assigned to it in clause (14) of section2 of the Motor Vehicles Act, 1988(59 of 1988); (50b) "goodstransport agency" means any commercial concern which provides service inrelation to transport of goods by road and issues consignment note, by whatevername called;'; (xi)after clause (55), the following clauses shall be inserted, namely:-- '(55a) "intellectualproperty right" means any right to intangible property, namely, trademarks, designs, patents or any other similar intangible property, under any lawfor the time being in force, but does not include copyright; (55b) "intellectualproperty service" means,-- (a)transferring, whetherpermanently or otherwise; or (b)permitting the use orenjoyment of, any intellectual property right;'; (xii) after clause (75), the following clauses shall beinserted, namely:-- '(75a) "opinion poll" means any service designedto secure.....