Bare Act Search Results

Prevention of Money-laundering (Amendment) Act 2009 Section 2

Title: Amendment of Section 2

State: Central

Year: 2009

In section 2 of the Prevention of Money-laundering Act, 2002(15 of 2003) (hereinafter referred to as the principal Act), in sub-section (1),-- (i) after clause (d), the following clause shall be inserted, namely:-- '(da) "authorised person" means an authorised person as defined in clause (c) of section 2 of the Foreign Exchange Management Act, 1999(42 of 1999);'; (ii) after clause (j), the following clause shall be inserted, namely:-- '(ja) "designated business or profession" means carrying on activities for playing games of chance for cash or kind, and includes such activities associated with casino or such other activities as the Central Government may, by notification, so designate, from time to time;'; (iii) in clause (l), for the words "a non-banking financial company", the words "an authorised person, a payment system operator and a non-banking financial company" shall be substituted; (iv) in clause (q), after the words and figures "Reserve Bank of India Act, 1934(2 of 1934)", the words "and includes a person carrying on designated business or profession" shall be inserted; (v) after clause (r), the following clauses shall be inserted, namely:-- '(ra).....

Finance (No. 2) Act 2009 Chapter III

Title: Direct Taxes

State: Central

Year: 2009

.....For the purposes of this sub-clause,-- (a) "specified security" means the securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and, where employees' stock option has been granted under any plan or scheme therefor, includes the securities offered under such plan or scheme; (b) "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; (c) the value of any specified security or sweat equity shares shall be the fair market value of the specified security or sweat equity shares, as the case may be, on the date on which the option is exercised by the assessee as reduced by the amount actually paid by, or recovered from, the assessee in respect of such security or shares; (d) "fair market value" means the value determined in accordance with the method as may be prescribed; (e) "option" means a right but not an obligation granted to an employee to apply for the specified security or sweat equity.....

Finance (No.2) Act, 2009 Complete Act

State: Central

Year: 2009

.....Parliament in the Sixtieth Year of the Republic of India as follows CHAPTER 1: Preliminary: Section 1: Short title and commencement: (1) This Act may be called the Finance (No. 2) Act, 2009. (2) Save as otherwise provided in this Act, sections 2 to 83 shall be deemed to have come into force on the 1st day of April, 2009. CHAPTER 2: RATES OF INCOME-TAX SECTION 2: Income-tax: (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2009, income-tax shall be charged at the rates specified in Part I of the First Schedule and such tax shall be increased by a surcharge, for purposes of the Union, calculated in each case in the manner provided therein. (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 five thousand rupees, in addition to total income, and the total income exceeds one lakh 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.....

Finance (No. 2) Act 2009 Schedule I

Title: First Schedule

State: Central

Year: 2009

.....any debentures issued by a company where such debentures are listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder; (C) any security of the Central or State Government (vi) on any other income 10 per cent.; (b) where the person is not resident in India-- (i) in the case of a non-resident Indian-- (A) on any investment income 20 per cent.; (B) on income by way of long-term capital gains referred to in section 115E 10 per cent.; (C) on income by way of short-term capital gains referred to in section 111A 15 percent.; (D) on other income by way of long-term capital gains [not being long-term capital gains referred to in clauses (33), (36) and (35) of section 10] 20 per cent.; (E) on income by way of interest payable by Government, or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency 20 per cent.; (F) on income by way of royalty.....

Finance (No. 2) Act 2009 Section 44

Title: Amendment of Section 115ja

State: Central

Year: 2009

In section 115 JA of the Income-tax Act, in sub-section (2), after the second proviso, in the Explanation, after clause (f), for the words, brackets and letters "if any amount referred to in clauses (a) to (f) is debited to the profit and loss account, and as reduced by,--" the following shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 1998, namely:-- "(g) the amount or amounts set aside as provision for diminution in the value of any asset, if any amount referred to in clauses (a) to (g) is debited to the profit and loss account, and as reduced by,--".

Finance (No. 2) Act 2009 Section 46

Title: Amendment of Section 115jb

State: Central

Year: 2009

In section 115JB of the Income-tax Act,-- (a) in sub-section (1), with effect from the 1st day of April, 2010,-- (i) for the words, figures and letters "the 1st day of April, 2007", the words, figures and letters "the 1st day of April, 2010" shall be substituted; (ii) for the words "ten per cent.", at both the places where they occur, the words "fifteen per cent." shall be substituted; (b) in sub-section (2), after the second proviso, in Explanation 1, after clause (h), for the words, brackets and letters "if any amount referred to in clauses (a) to (h) is debited to the profit and loss account, and as reduced by--", the following shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2001, namely:-- "(i) the amount or amounts set aside as provision for diminution in the value of any asset, if any amount referred to in clauses (a) to (i) is debited to the profit and loss account, and as reduced by,--".

Central Universities Act 2009 Schedule II

Title: Second Schedule

State: Central

Year: 2009

.....meeting of the Council be held in the beginning of the academic session. 37. Ordinances. how to be made. (1) The first Ordinances made under sub-section (2) of section 28 may be amended, repealed or added to at any time by the Executive Council in the manner specified in the following sub-clauses. (2) No Ordinances in respect of the matters enumerated in sub-section (1) of section 28 of this Act shall be made by the Executive Council unless a draft of such Ordinances has been proposed by the Academic Council. (3) The Executive Council shall not have power to amend any draft of any Ordinances proposed by the Academic Council under clause (2), but may reject the proposal or return the draft to the Academic Council for re-consideration, either in whole or in part, together with any amendment which the Executive Council may suggest. (4) Where the Executive Council has rejected or returned the draft of an Ordinances proposed by the Academic Council, the Academic Council may consider the question afresh and in case the original draft is reaffirmed by a majority of not less than two-thirds of the members present and voting and more than half the total number of members of the.....