Bare Act Search Results

Registration Act, 1908 Section 53

Title: Entries to Be Numbered Consecutively

State: Central

Year: 1908

All entries in each book shall be numbered in a consecutive series, which shall commence and terminate with the year, a fresh series being commenced at the beginning of each year. STATE AMENDMENT Maharashtra and Gujarat: For modifiaction of section 53, see sub-section (3) of section 70D in Part XIA inserted in the main Act by the Indian Registration (Bombay Amendment) Act, 1930 (17 of 1930) (w.e.f. 4-9-1930) and Act 11 of 1960, section 87.

Income Tax Act, 1961 Complete Act

State: Central

Year: 1961

.....data stored in a floppy, disc, tape or any other form of electro-magnetic data storage device;] (13) "business" includes any trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture; (14)"capital asset" means property of any kind held by an assessee, whether or not connected with his business or profession, but does not include- (i) any stock-in-trade, consumable stores or raw materials held for the purposes of his business or profession; 29 The following shall be substituted by the Finance Act, 2007, w.e.f. 01.04.2008. "(ii) personal effects, that is to say, movable property (including wearing apparel and furniture) held for personal use by the assessee or any member of his family dependent on him, but excludes- (a) jewellery; (b) archaeological collections; (c) drawings; (d) paintings; (e) sculptures; or (f) any work of art. Explanation.--For the purposes of this sub-clause, "jewellery" includes-- (a) ornaments made of gold, silver, platinum or any other precious metal or any alloy containing one or more of such precious metals, whether or not containing any precious or semi-precious stone, and whether or not worked or sewn.....

Income Tax Act, 1961 Chapter VIA

Title: Deductions to Be Made in Computing Total Income

State: Central

Year: 1961

..... (2) This section applies to any industrial undertaking which fulfils all the following conditions, namely : (i) it has begun or begins to manufacture or produce articles after the 31st day of December, 1970 but before the 1st day of April, 1990, in any backward area ; (ii) it is not formed by the splitting up, or the reconstruction, of a business already in existence in any backward area : Provided that this condition shall not apply in respect of any industrial undertaking which is formed as a result of the re-establishment, reconstruction or revival by the assessee of the business of any such industrial undertaking as is referred to in section 33B, in the circumstances and within the period specified in that section ; (iii) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose in any backward area ; (iv) it employs ten or more workers in a manufacturing process carried on with the aid of power, or employs twenty or more workers in a manufacturing process carried on without the aid of power. Explanation : Where any machinery or plant or any part thereof previously used for any purpose in any backward area is.....

Income Tax Act, 1961 Chapter III

Title: Incomes Which Do Not Form Part of Total Income

State: Central

Year: 1961

.....1] : For the purposes of this sub-clause, the expression industrial undertaking means any undertaking which is engaged in (a) the manufacture or processing of goods; or 53[(aa) the manufacture of computer software or recording of programme on any disc, tape, perforated media or other information device; or] (b) the business of generation or distribution of electricity or any other form of power; or 54[(ba) the business of providing telecommunication services; or] (c) mining; or (d) the construction of ships; or 55[(da) the business of ship-breaking; or] (e) the operation of ships or aircrafts or construction or operation of rail systems; 56[Explanation 1A : For the purposes of this sub-clause, the expression interest shall not include interest paid on delayed payment of loan or on default if it is in excess of two per cent per annum over the rate of interest payable in terms of such loan.] 57[Explanation 2 : For the purposes of this clause, the expression interest includes hedging transaction charges on account of currency fluctuation;] (v) interest on (a) securities held by the Welfare Commissioner, Bhopal Gas Victims, Bhopal, in the Reserve.....

Income Tax Act, 1961 Section 80IB

Title: Deduction in Respect of Profits and Gains from Certain Industrial Undertakings Other Than Infrastructure Development Undertakings

State: Central

Year: 1961

.....in that section; (ii) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose; (iii) it manufactures or produces any article or thing, not being any article or thing specified in the list in the Eleventh Schedule, or operates one or more cold storage plant or plants, in any part of India: Provided that the condition in this clause shall, in relation to a small-scale industrial undertaking or an industrial undertaking referred to in sub-section (4) shall apply as if the words not being any article or thing specified in the list in the Eleventh Schedule had been omitted. Explanation 1 : For the purposes of clause (ii), any machinery or plant which was used outside India by any person other than the assessee shall not be regarded as machinery or plant previously used for any purpose, if the following conditions are fulfilled, namely: (a) such machinery or plant was not, at any time previous to the date of the installation by the assessee, used in India; (b) such machinery or plant is imported into India from any country outside India; and (c) no deduction on account of depreciation in respect of such machinery or.....

Finance Act 1999 Chapter III

Title: Direct Taxes Income-tax

State: Central

Year: 1999

.....agriculture and allied sectors; or (F) such other sectors as may be notified by the Central Government in this behalf; or (ii) production or manufacture of any article or substance for which patent has been granted to the National Research Laboratory or any other scientific research institution approved by the Department of Science and Technology;'; (k) in clause (23G), with effect from the 1st day of April, 2000, - (A) for the words "the business of developing, maintaining and operating", the words, brackets and figures "the business of (i) developing, (ii) maintaining and operating, or (iii) developing, maintaining and operating" shall be substituted; (B) in the Explanation, in clause (c), - (i) in sub-clause (i), for the word, brackets, figure and letter "sub-section (4A)", the words, brackets and figures "sub-clause (i) of sub-section (4)" shall be substituted; (ii) for sub-clause (ii), the following sub-clause shall be substituted, namely :- "(ii) an industrial undertaking which - (a) is set up in any part of India for the generation or generation and distribution of power if it begins to generate power at any time during the period beginning on the 1st day.....

Finance Act, 1999 Complete Act

State: Central

Year: 1999

.....(E) agriculture and allied sectors; or (F) such other sectors as may be notified by the Central Government in this behalf; or (ii) production or manufacture of any article or substance for which patent has been granted to the National Research Laboratory or any other scientific research institution approved by the Department of Science and Technology;'; (k) in clause (23-G), with effect from the 1st day of April, 2000- (A) for the words "the business of developing, maintaining and operating", the words, brackets and figures "the business of (i) developing, (ii) maintaining and operating, or (iii) developing, maintaining and operating" shall be substituted', (B) in the Explanation, in clause (c),- (i) in sub-clause (i), for the word, brackets, figure and letter "sub -section (4-A)", the words, brackets and figures "clause (i) of subsection (4)" shall be substituted', (ii) for sub-clause (ii), the following sub -clause shall be substituted, namely: - "(ii) an industrial undertaking which- (a) is set up in any part of India for the generation or generation and distribution of power if it begins to generate power at any time during the period beginning on the 1st day of April, 1993.....

Finance Act 1999 Section 50

Title: Substitution of New Sections for Section 80-ia

State: Central

Year: 1999

.....in that section; (ii) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose; (iii) it manufactures or produces any article or thing, not being any article or thing specified in the list in the Eleventh Schedule, or operates one or more cold storage plant or plants, in any part of India : Provided that the condition in this clause shall, in relation to a small scale industrial undertaking or an industrial undertaking referred to in sub-section (4) shall apply as if the words "not being any article or thing specified in the list in the Eleventh Schedule" had been omitted. Explanation 1. - For the purposes of clause (ii), any machinery or plant which was used outside India by any person other than the assessee shall not be regarded as machinery or plant previously used for any purpose, if the following conditions are fulfilled, namely :- (a) such machinery or plant was not, at any time previous to the date of the installation by the assessee, used in India; (b) such machinery or plant is imported into India from any country outside India; and (c) no deduction on account of depreciation in respect of such machinery.....

Special Economic Zones Act, 2005 Schedule 2

Title: The Second Schedule

State: Central

Year: 2005

.....to any undertaking, being a Unit referred to in clause (zc) of section 2 of the Special Economic Zones Act, 2005, which has begun or begins to manufacture or produce articles or things or computer software during the previous year relevant to the assessment year commencing on or after the 1st day of April, 2006 in any Special Economic Zone."; (c) after section 10A, the following section shall be inserted, namely:-- '10AA. Special provisions in respect of newly established Units in Special Economic Zones.--(1) Subject to the provisions of this section, in computing the total income of an assessee, being an entrepreneur as referred to in clause (j) of section (2) of the Special Economic Zones Act, 2005, from his Unit, who begins to manufacture or produce articles or things or provide any services during the previous year relevant to any assessment year commencing on or after the 1st day of April, 2006, a deduction of-- (i) hundred per cent. of profits and gains derived from the export, of such articles or things or from services for a period of five consecutive assessment years beginning with the assessment year relevant to the previous year in which the Unit begins to.....

Income Tax Act, 1961 Section 10A

Title: Special Provision in Respect of Newly Established Undertakings in Free Trade Zone, Etc.

State: Central

Year: 1961

.....a period of ten consecutive assessment years beginning with the assessment year relevant to the previous year in which the undertaking begins to manufacture or produce such articles or things or computer software, as the case may be, shall be allowed from the total income of the assessee : Provided that where in computing the total income of the undertaking for any assessment year, its profits and gains had not been included by application of the provisions of this section as it stood immediately before its substitution by the Finance Act, 2000, the undertaking shall be entitled to deduction referred to in this sub-section only for the unexpired period of the aforesaid ten consecutive assessment years : Provided further that where an undertaking initially located in any free trade zone or export processing zone is subsequently located in a special economic zone by reason of conversion of such free trade zone or export processing zone into a special economic zone, the period of ten consecutive assessment years referred to in this sub-section shall be reckoned from the assessment year relevant to the previous year in which the 2[undertaking began to manufacture or produce such.....