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Start Free TrialIncome Tax Act, 1961 Chapter VIA
Title: Deductions to Be Made in Computing Total Income
State: Central
Year: 1961
.....any premium or other payment made on an insurance policy other than a contract for a deferred annuity as is not in excess of twenty per cent of the actual capital sum assured. Explanation : In calculating any such actual capital sum assured, no account shall be taken (i) of the value of any premiums agreed to be returned, or (ii) of any benefit by way of bonus or otherwise over and above the sum actually assured, which is to be or may be received under the policy by any person. (4) The persons referred to in sub-section (2) shall be the following, namely: (a) for the purposes of clauses (i), (v), (x) and (xi) of that sub-section, (i) in the case of an individual, the individual, the wife or husband and any child of such individual, and (ii) in the case of a Hindu undivided family, any member thereof; (b) for the purposes of clause (ii) of that sub-section, in the case of an individual, the individual, the wife or husband and any child of such individual; (c) for the purpose of clause (xvii) of that sub-section, in the case of an individual, any two children of such individual. (5) Where, in any previous year, an assessee (i) terminates his contract of insurance.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 80C
Title: Deduction in Respect of Life Insurance Premia, Deferred Annuity, Contributions to Provident Fund, Subscription to Certain Equity Shares or Debentures, Etc.
State: Central
Year: 1961
.....to keep in force a contract for a deferred annuity, not being an annuity plan referred to in clause (xii), on the life of persons specified in sub-section (4): Provided that such contract does not contain a provision for the exercise by the insured of an option to receive a cash payment in lieu of the payment of the annuity; (iii) by way of deduction from the salary payable by or on behalf of the Government to any individual being a sum deducted in accordance with the conditions of his service, for the purpose of securing to him a deferred annuity or making provision for his spouse or children, in so far as the sum so deducted does not exceed one-fifth of the salary; (iv) as a contribution by an individual to any provident fund to which the Provident Funds Act, 1925 (19 of 1925), applies; (v) as a contribution to any provident fund set-up by the Central Government and notified by it in this behalf in the Official Gazette, where such contribution is to an account standing in the name of any person specified in sub-section (4); (vi) as a contribution by an employee to a recognised provident fund; (vii) as a contribution by an employee to an approved superannuation.....
View Complete Act List Judgments citing this sectionAgricultural Income-tax Act, 1957 Chapter 2
Title: Charge of Agricultural Income-tax
State: Karnataka
Year: 1957
.....needs of the company and the benefit derived by or accruing to it therefrom;] 7 [(iii) any sum paid on account of wealth tax under the Wealth Tax Act, 1957 (Central Act XXVII of 1957);] 8 [Explanation.--For the removal of doubts it is hereby declared that deductions under this clause shall not include deductions specifically provided for or allowed under other clauses of this section or rules made under this section.] (l) such other deductions as may be prescribed generally or in particular cases; (m) in the case of agricultural income under the head rent or revenue derived from land referred to in sub-clause (1) of clause (a) of section 2,-- (i) any expenses actually incurred in the previous year in the collection of agricultural income; (ii) any expenses incurred in the previous year on repairs in respect of any capital asset used in connection with the collection of rents due in respect of the land from which the agricultural income is derived; (n) in the case of agricultural income referred to in sub-clause (2) of clause (a) of section 2,-- (i) the expenses other than capital expenditure incurred in the previous year of raising the crop from which the.....
View Complete Act List Judgments citing this sectionKarnataka Prevention of Incitement to Refuse or to Defer Payment of Tax Act, 1981 Preamble 1
Title: Karnataka Prevention of Incitement to Refuse or to Defer Payment of Tax Act, 1981
State: Karnataka
Year: 1981
THE KARNATAKA PREVENTION OF INCITEMENT TO REFUSE OR TO DEFER PAYMENT OF TAX ACT, 1981. [Act, No. 52 of 1981] [25th November, 1981] PREAMBLE An Act to prevent incitement to refuse or to defer payment of tax and other dues payable to the Government and other authorities WHEREAS it is expedient to prevent incitement to refuse or to defer payment of tax and other dues payable to the Government and other authorities; BE it enacted by the Karnataka State Legislature in the Thirty--second Year of the Republic of India as follows: --
View Complete Act List Judgments citing this sectionAgricultural Income-tax Act, 1957 Chapter 4
Title: Return of Income, Assessment, Etc.
State: Karnataka
Year: 1957
..... ________________________ 1. Substituted by Act 18 of 1999 w.e.f. 1.9.1999 by notification. Text of the notification is at the end of the Act. 2. Inserted by Act 7 of 1997 w.e.f. 1.4.1997. Section 20 - Power to make provisional assessment in advance of regular assessment (1) The1[Assistant Commissioner of Agricultural Income-tax] may, at any time after the receipt of a return made under section 18, proceed to make in a summary manner, a provisional assessment of the tax payable by the assessee, on the basis of his return and the accounts and documents, if any, accompanying it, after giving due effect to (i) the allowance referred to in paragraph (2) of the proviso to clause (c) of section 5, and (ii) any loss carried forward under section 15. (2) A partner of a firm may be provisionally assessed under sub-section (1) in respect of his share in the firm's income, profits and gains, if its return has been received, although the return of the partner himself may not have been received. (3) There shall be no right of appeal against a provisional assessment made under sub-section (1). (4) After a regular assessment has been made under section 19, any amount paid.....
View Complete Act List Judgments citing this sectionKarnataka Prevention of Incitement to Refuse or to Defer Payment of Tax Act, 1981 Complete Act
Title: Karnataka Prevention of Incitement to Refuse or to Defer Payment of Tax Act, 1981
State: Karnataka
Year: 1981
Preamble 1 - KARNATAKA PREVENTION OF INCITEMENT TO REFUSE OR TO DEFER PAYMENT OF TAX ACT, 1981 Section 1 - Short title and commencement Section 2 - Punishment for incitement to refuse or to defer payment of land revenue, tax, etc., due to the State Government Section 3 - Abetment to be an offence Section 4 - Offences by companies Section 5 - Power to make rules Section 6 - Repeal and savings
List Judgments citing this sectionIncome Tax Act, 1961 Complete Act
Title: Income Tax Act, 1961
State: Central
Year: 1961
.....Section4 - Charge of income-tax Section5 - Scope of total income Section5A - Apportionment of income between spouses governed by Portuguese Civil Code Section6 - Residence in India Section7 - Income deemed to be received Section8 - Dividend income Section9 - Income deemed to accrue or arise in India Chapter III Section10 - Incomes not included in total income Section10A - Special provision in respect of newly established undertakings in free trade zone, etc. Section10AA - Special provisions in respect of newly established Units in Special Economic Zones Section10B - Special provisions in respect of newly established hundred per cent export-oriented undertakings Section10BA - Special provisions in respect of export of certain articles or things Section10BB - Meaning of computer programmes in certain cases Section10C - Special provision in respect of certain industrial undertakings in North-Eastern Region Section11 - Income from property held for charitable or religious purposes Section12 - Income of trusts or institutions from contributions Section12A - Conditions as to registration of trusts, etc. Section12AA - Procedure for registration Section13 - Section 11.....
List Judgments citing this sectionAgricultural Income-tax Act, 1957 Section 11
Title: Income from Settlement, Disposition Etc.
State: Karnataka
Year: 1957
.....shall be deemed to arise to the spouse or minor child from assets transferred indirectly by the individual to the spouse or minor child and the provisions of sub-section (1) shall, so far as may be, apply accordingly: Provided that the income referred to in clause (b) or clause (c) shall, on being included in the total income of the individual, be excluded from the total income of the family, or, as the case may be, the spouse or minor child of the individual.] ________________________ 1. Substituted by Act 14 of 1983 w.e.f. 1.12.1982. 2. Re-numbered by Act 38 of 1986 w.e.f. 9.11.1992. 3. Substiuted by Act 5 of 1993 w.e.f. 9.11.1992. 4. Inserted by Act 38 of 1986 w.e.f. 17.10. 1986.
View Complete Act List Judgments citing this sectionKarnataka Prevention of Incitement to Refuse or to Defer Payment of Tax Act, 1981 Section 2
Title: Punishment for Incitement to Refuse or to Defer Payment of Land Revenue, Tax, Etc., Due to the State Government
State: Karnataka
Year: 1981
.....Act 11 of 1959); or (b) instigates, directly or indirectly the use of criminal force against public servants generally or any class of public servants or any individual public servant, so as to obstruct in the discharge of their public functions, shall be punished with rigorous imprisonment for a term which may extend to five years and with fine which may extend to five thousand rupees, but such rigorous imprisonment shall not be less than two years and such fine shall not be less than three thousand rupees. Explanation.--For the purposes of this section 'public servant' shall have the same meaning as in section 21 of the Indian Penal Code, 1860 (Central Act XLV of 1860).
View Complete Act List Judgments citing this sectionINCOME TAX ACT, 1961 Chapter V
Title: INCOME OF OTHER PERSONS, INCLUDED IN ASSESSEE'S TOTAL INCOME
State: Central
Year: 1961
.....of sale thereof and where the property is converted into any other property by any method, such other property. Explanation 2: For the purposes of this section, income includes loss. Section 65 - Liability of person in respect of income included in the income of another person Where, by reason of the provisions contained in this Chapter or in clause (i) of section 27, the income from any asset or from membership in a firm of a person other than the assessee is included in the total income of the assessee, the person in whose name such asset stands or who is a member of the firm shall, notwithstanding anything to the contrary contained in any other law for the time being in force, be liable, on the service of a notice of demand by the Assessing Officer in this behalf, to pay that portion of the tax levied on the assessee which is attributable to the income so included, and the provisions of Chapter XVIID shall, so far as may be, apply accordingly: Provided that where any such asset is held jointly by more than one person, they shall be jointly and severally liable to pay the tax which is attributable to the income from the assets so included.
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