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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.....

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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.....

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Income Tax Act, 1961 Section 36

Title: Other Deductions

State: Central

Year: 1961

.....date by which the assessee is required as an employer to credit an employees contribution to the employees account in the relevant fund under any Act, rule, order or notification issued thereunder or under any standing order, award, contract of service or otherwise; (vi) in respect of animals which have been used for the purposes of the business or profession otherwise than as stock-in-trade and have died or become permanently useless for such purposes, the difference between the actual cost to the assessee of the animals and the amount, if any, realised in respect of the carcasses or animals; (vii) subject to the provisions of sub-section (2), the amount of any bad debt or part thereof which is written off as irrecoverable in the accounts of the assessee for the previous year: Provided that in the case of an assessee to which clause (viia) applies, the amount of the deduction relating to any such debt or part thereof shall be limited to the amount by which such debt or part thereof exceeds the credit balance in the provision for bad and doubtful debts account made under that clause; 11[Explanation: For the purposes of this clause, any bad debt or part thereof.....

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Income Tax Act, 1961 Section 40

Title: Amounts Not Deductible

State: Central

Year: 1961

.....or, after deduction, has not been paid during the previous year, or in the subsequent year before the expiry of the time prescribed under sub-section (1) of section 200: Provided that where in respect of any such sum, tax has been deducted in any subsequent year or, has been deducted in the previous year but paid in any subsequent year after the expiry of the time prescribed under sub-section (1) of section 200, such sum shall be allowed as a deduction in computing the income of the previous year in which such tax has been paid. Explanation: For the purposes of this sub-clause,- (A) royalty shall have the same meaning as in Explanation 2 to clause (vi) of sub-section (1) of section 9: (B) fees for technical services shall have the same meaning as in Explanation 2 to clause (vii) of sub-section (1) of section 9: (ia) any interest, commission or brokerage, 2[rent, royalty] fees for professional services or fees for technical services payable to a resident, or amounts payable to a contractor or sub-contractor, being resident, for carrying out any work (including supply of labour for carrying out any work), on which tax is deductible at source under Chapter XVIIB.....

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Income Tax Act, 1961 Section 80IA

Title: Deductions in Respect of Profits and Gains from Industrial Undertakings or Enterprises Engaged in Infrastructure Development, Etc.

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-clause (b) of clause (iv) which begins to manufacture or produce an article or thing during the period beginning on the 1st day of April, 1993 and ending on the 31st day of March, 2000 apply as if the words not being any article or thing specified in the list in the Eleventh Schedule had been omitted; (iv) (a) in the case of an industrial undertaking not specified in sub-clause (b) or sub-clause (c), it begins to manufacture or produce articles or things or to operate such plant or plants, at any time during the period beginning on the 1st day of April, 1991 and ending on the 31st day of March, 1995, or such further period as the Central Government may, by notification in the Official.....

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Payment of Wages Act, 1936 Section 7

Title: Deductions Which May Be Made from Wages

State: Central

Year: 1936

.....17 [ theRailways Act, 1989.] ____________________________ 1. Substituted vide Payment of Wages (Amendment) Act, 2005. Previous text was "sub-section (2) of section 47 of the Indian Railways Act, 1890 (9 of 1890)" 2. Explanation re-numbered as Explanation I by Act 68 of 1957, section 5 w.e.f. 1-4-1958. 3. Inserted by Act 68 of 1957, section 5 w.e.f. 1-4-1958. 4. Substituted by Act 68 of 1957, section 5, for clause (d) w.e.f. 1-4-1958. 5. The words "Governor-General in Council or" omitted by the A.O. 1937. 6. Inserted by Act 53 of 1964, section 6 w.e.f. 1-2-1965. 7. Substituted by Act 56 of 1974, section 3 and Schedule II, for "this sub-clause". 8. Substituted by Act 53 of 1964, section 6, for clause (f) w.e.f. 1-2-1965. 9. Substituted vide Payment of Wages (Amendment) Act, 2005 10. The word "and" omitted by Ordinance 3 of 1940, section 2. 11. Added by Ordinance 3 of 1940, section 2. 12. Substituted by Act 68 of 1957, section 5, for clause (k) w.e.f 1-4-1958. 13. Inserted by Act 38 of 1982, section 7 w.e.f. 15-10-1982. 14. Inserted by Act 29 of 1976, section 4 w.e.f 12-11-1876. 15. Inserted by Act 19 of 1977, section 2, w.e.f. 30-6-1977. 16......

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Karnataka Value Added Tax Act, 2003 Section 9A

Title: Deduction of Tax at Source (in Case of Works Contract)

State: Karnataka

Year: 2003

.....(5) , the authority making deductions under sub section (1) shall pay , by way of interest, a sum equal to the interest specified under sub -section (1) of Section 37 during the period in which such default is continued. (8) The authority making deduction under sub -section (1) , shall furnish to the dealer from whom such deduction is made, a certificate obtained from the prescribed authority containing such particulars as may be prescribed. (9) Payment by way of deduction in accordance with sub -section (5), shall be without prejudice to any other mode of recovery of tax due under this Act from the dealer executing the works contract. (10) Where tax in respect of the works contract is remitted under sub -section (5), the tax payable by the dealer for any period, 3[***] shall be reduced by the amount of tax already remitted under the said sub-section. (11) The burden of proving that the tax on such works contract has already been remitted and of establishing the exact quantum of tax so remitted shall be on the dealer claiming the reduction of t ax under sub-section (10).] ______________________________ 1. Inserted by Karnataka Value Added Tax (Amendment) Act.....

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Income Tax Act, 1961 Section 201

Title: Consequences of Failure to Deduct or Pay

State: Central

Year: 1961

.....date on which such tax is actually paid, and such interest shall be paid before furnishing the statement in accordance with the provisions of sub-section (3) of section 200.] (2) Where the tax has not been paid as aforesaid after it is deducted the amount of the tax together with the amount of simple interest thereon referred to in sub-section (1A) shall be a charge upon all the assets of the person, or the company, as the case may be, referred to in sub-section (1). 8[(3) No order shall be made under sub-section (1) deeming a person to be an assessee in default for failure to deduct the whole or any part of the tax from a person resident in India, at any time after the expiry of- (i) two years from the end of the financial year in which the statement is filed in a case where the statement referred to in section 200 has been filed; (ii) four years from the end of the financial year in which payment is made or credit is given, in any other case: Provided that such order for a financial year commencing on or before the 1st day of April, 2007 may be passed at any time on or before the 31st day of March, 2011. (4) The provisions of sub-clause (ii) of sub-section (3) of.....

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Income Tax Act, 1961 Section 80HHD

Title: Deduction in Respect of Earnings in Convertible Foreign Exchange

State: Central

Year: 1961

.....assessee furnishes in the prescribed form12, along with the return of income, the report of an accountant, as defined in the Explanation below sub-section (2) of section 288, certifying that the deduction has been correctly claimed on the basis of the amount of convertible foreign exchange received by the assessee for services provided by him to foreign tourists, payments made by him to any assessee referred to in sub-section (2A) and the payments received by him in Indian currency as referred to in the 13[Explanation 1 to sub-section (2)]. 14[(7) Where a deduction under sub-section (1) is claimed and allowed in respect of profits derived from the business of a hotel, such part of profits shall not qualify to that extent for deduction for any assessment year under any other provisions of this Chapter under the heading C. Deductions in respect of certain incomes, and shall in no case exceed the profits and gains of such hotel.] Explanation : For the purposes of this section, (a) travel agent means a travel agent or other person (not being an airline or a shipping company) who holds a valid licence granted by the Reserve Bank of India under section 32* of the Foreign.....

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Karnataka Sales Tax Act, 1957 Section 19

Title: Deduction of Tax at Source in Other Cases

State: Karnataka

Year: 1957

.....(2), the authority making deductions under sub-section (1) shall pay by way of penalty a sum equal to the penalty specified under clause (ii) of sub-section (2) of section 13 during the period in which such default is continued.] (3) The authority making deduction under sub-section (1) shall furnish to the dealer from whom such deduction is made, a certificate obtained from the prescribed authority containing such particulars as may be prescribed. (4) Payment by way of deduction in accordance with sub-section (1) shall be without prejudice to any other mode of recovery of tax due under this Act from the dealer effecting the sales to the authorities mentioned in subsection (1). (5) Where tax in respect of the purchases is remitted under sub-section(2), the tax payable by the dealer for any month, quarter or for the whole year, as the case may be, in respect of such sales shall be reduced by the amount of tax already remitted under the said sub-section: Provided that the burden of proving that the tax on such sales has already been remitted and of establishing the exact quantum of tax so remitted shall be on the dealer claiming the reduction.] .....

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