Bare Act Search Results

Special Economic Zones Act, 2005 Schedule 2

Title: The Second Schedule

State: Central

Year: 2005

.....to in clause (u) of section 2 of the Special Economic Zones Act, 2005;"; (B) in clause (23G), after the words, brackets, figures and letters "sub-section (4) of section 80-IA", the words, brackets, figures and letters "or sub-section (3) of section 80-IAB" shall be inserted; (C) in clause (34), the following Explanation shall be inserted, namely:-- "Explanation.--For the removal of doubts, it is hereby declared that the dividend referred to in section 115-O shall not be included in the total income of the assessee, being a Developer or entrepreneur."; (b) in section 10A, after sub-section (7A), the following sub-section shall be inserted, namely:-- "(7B) The provisions of this section shall not apply 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.....

Finance Act, 2005 Complete Act

State: Central

Year: 2005

FINANCE ACT, 2005 FINANCE ACT, 2005 18 of 2005 CHAPTER 1: PRELIMINARY: Section 1: Short title and commencement: (1) This Act may be called the Finance Act, 2005. (2) Save as otherwise provided in this Act, Sections 2 to 64 shall be deemed to have come into force on the 1st day of April, 2005. 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, 2005, income tax shall be charged at the rates special in Part I of the First Schedule and such tax as reduced by the debate of income tax calculated under Chapter VIII-A of the Income Tax Act, 1961 (43 of 1961) (hereinafter referred to as the Income Tax Act) 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 fifty thousand rupees, then, (a) the net agricultural income shall be taken into.....

Finance Act 2005 Section 90

Title: Amendment of Section 5

State: Central

Year: 2005

In section 5 of the Central Sales Tax Act, after sub-section (3), the following sub-sections shall be inserted, namely:-- '(4) The provisions of sub-section (3) shall not apply to any sale or purchase of goods unless the dealer selling the goods furnishes to the prescribed authority in the prescribed manner a declaration duly filled and signed by the exporter to whom the goods are sold in a prescribed form obtained from the prescribed authority. (5) Notwithstanding anything contained in sub-section (1), if any designated Indian carrier purchases Aviation Turbine Fuel for the purposes of its international flight, such purchase shall be deemed to take place in the course of the export of goods out of the territory of India. Explanation.-- For the purposes of this sub-section, "designated Indian carrier" means any carrier which the Central Government may, by notification in the Official Gazette, specify in this behalf.'.

Finance Act 2005 Chapter 6

Title: Central Sales Tax

State: Central

Year: 2005

.....namely:-- '(ja) "works contract" means a contract for carrying out any work which includes assembling, construction, building, altering, manufacturing, processing, fabricating, erection, installation, fitting out, improvement, repair or commissioning of any movable or immovable property;'. Section 90 - Amendment of section 5 In section 5 of the Central Sales Tax Act, after sub-section (3), the following sub-sections shall be inserted, namely:-- '(4) The provisions of sub-section (3) shall not apply to any sale or purchase of goods unless the dealer selling the goods furnishes to the prescribed authority in the prescribed manner a declaration duly filled and signed by the exporter to whom the goods are sold in a prescribed form obtained from the prescribed authority. (5) Notwithstanding anything contained in sub-section (1), if any designated Indian carrier purchases Aviation Turbine Fuel for the purposes of its international flight, such purchase shall be deemed to take place in the course of the export of goods out of the territory of India. Explanation.-- For the purposes of this sub-section, "designated Indian carrier" means any carrier which the Central.....

Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 Section 13

Title: Regulation of Export, Transfer, Retransfer, Transit and Trans-shipment

State: Central

Year: 2005

.....of this Act or any other relevant Act. (2) Any transfer of technology of an item, whose export is prohibited under this Act or any other relevant Act relating to relevant activity shall be prohibited. (3) When any technology is notified under this Act or any other relevant Act, as being subject to transfer controls, the transfer of such technology shall be restricted to the extent notified thereunder. Explanation.--The transfer of technology may take place through either or both of the following modes of transfer, namely:-- (a) by a person or from a place within India to a person or place outside India; (b) by a person or from a place outside India to a person, or a place, which is also outside India (but only where the transfer is by, or within the control of, person, who is a citizen of India, or any person who is a resident in India. (4) The Central Government may notify any item as being subject to the provisions of this Act, whether or not it is covered under any other relevant Act, and when such item is exhibited, sold, supplied or transferred to any foreign entity or a foreigner who is resident, operating, visiting, studying, or conducting research or business.....

Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 Section 11

Title: Prohibition of Export

State: Central

Year: 2005

No person shall export any material, equipment, or technology knowing that such material, equipment, or technology is intended to be used in the design or manufacture of a biological weapon, chemical weapon, nuclear weapon or other nuclear explosive device, or in their missile delivery systems.

Taxation Laws (Amendment) Act, 2005 Section 4

Title: Amendment of Section 80-hhc

State: Central

Year: 2005

In section 80-HHC of the Income-tax Act,-- (i) in sub-section (3),-- (A) after the proviso, the following provisos shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1998, namely:-- 'Provided further that in the case of an assessee having export turnover not exceeding rupees ten crores during the previous year, the profits computed under clause (a) or clause (b) or clause (c) of this subsection or after giving effect to the first proviso, as the case may be, shall be further increased by the amount which bears to ninety per cent. of any sum referred to in clause (iiid) or clause (iiie), as the case may be, of section 28, the same proportion as the export turnover bears to the total turnover of the business carried on by the assessee: Provided also that in the case of an assessee having export turnover exceeding rupees ten crores during the previous year, the profits computed under clause (a) or clause (b) or clause (c) of this sub-section or after giving effect to the first proviso, as the case may be, shall be further increased by the amount which bears to ninety per cent. of any sum referred to in clause (iiid) of section.....

The Special Economic Zones Act, 2005 Complete Act

State: Central

Year: 2005

.....Economic Zones may be demarcated by the Central Government or any authority specified by it as" (a) the processing area for setting up Units for activities, being the manufacture of goods, or rendering services; or (b) the area exclusively for trading or warehousing purposes; or (c) the non-processing areas for activities other than those specified under clause (a) or clause (b). SECTION 07: EXEMPTION FROM TAXES, DUTIES OR CESS Any goods or services exported out of, or imported into, or procured from the Domestic Tariff Area by," (i) a Unit in a Special Economic Zone; or (ii) a Developer, shall, subject to such terms, conditions and limitations, as may be prescribed, be exempt from the payment of taxes, duties or cess under all enactments specified in the First Schedule. COMMENTS Any goods or services exported out of, or imported into, or procured from the Domestic Tariff Area by a Unit in a Special Economic Zone, or a Developer shall be exempt from the payment of taxes, duties or cess subject to prescribed terms, conditions and limitations. CHAPTER III CONSTITUTION OF BOARD OF APPROVAL SECTION 08: CONSTITUTION OF BOARD OF APPROVAL (1) The Central Government shall, within.....

Taxation Laws (Amendment) Act, 2005 Chapter II

Title: Amendments to the Income-tax Act, 1961

State: Central

Year: 2005

.....shall be substituted and shall be deemed to have been substituted. Section 5 - Amendment of section 80-IA In section 80-IA of the Income-tax Act, in sub-section (4), after clause (iv), the following clause shall be inserted with effect from the 1st day of April, 2006, namely:-- "(v) an undertaking owned by an Indian company and set up for reconstruction or revival of a power generating plant, if-- (a) such Indian company is formed before the 30th day of November, 2005 with majority equity participation by public sector companies for the purposes of enforcing the security interest of the lenders to the company owning the power generating plant and such Indian company is notified before the 31st day of December, 2005 by the Central Government for the purposes of this clause; (b) such undertaking begins to generate or transmit or distribute power before the 31st day of March, 2007.". Section 6 - Amendment of section 115W In section 115W of the Income-tax Act, in clause (a), with effect from the 1st day of April, 2006 -- (a) for sub-clause (iii), the following sub-clause shall be substituted, namely:-- "(iii) an association of persons or a body of individuals,.....

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

State: Central

Year: 2005

.....SYSTEMS (PROHIBITION OF UNLAWFUL ACTIVITIES) ACT, 2005 THE WEAPONS OF MASS DESTRUCTION AND THEIR DELIVERY SYSTEMS (PROHIBITION OF UNLAWFUL ACTIVITIES) ACT, 2005 An Act to prohibit unlawful activities, in relation to weapons of mass destruction and their delivery systems and for matters connected therewith or incidental thereto. Whereas India is determined to safeguard its national security as a Nuclear Weapon State; And Whereas India is committed not to transfer nuclear weapons or other nuclear explosive devices, or to transfer control over such weapons or explosive devices, and not in any way to assist, encourage, or induce any other country to manufacture nuclear weapons or other nuclear explosive devices; And Whereas India is committed to prevent a non-State actor and a terrorist from acquiring weapons of mass destruction and their delivery systems; And Whereas India is committed to the objective of global nuclear disarmament; And Whereas India is committed to its obligations as a State Party to the Convention on the Prohibition of the Development, Production, Stockpiling and use of Chemical Weapons and on their Destruction and the Convention on the Prohibition of.....