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Add Emoluments Compulsory Deposit Act 1974 Section 5

Title: Additional Wages Deposit Account and Additional Dearness Allowance Deposit

State: Central

Year: 1974

(1) There shall be opened by such authorities as may be specified in the scheme two separate accounts, to be known, respectively, as the Additional Wages Deposit Account and the Additional Dearness Allowance Deposit Account, and different authorities may be specified for different establishments or different categories of employees or establishments. (2) The specified authority shall, in relation to each Deposit Account, open a separate ledger account in the name of each employee in relation to whom any contribution is made to the said Account, and credit the contributions so made in the said ledger account.

Add Emoluments Compulsory Deposit Act 1974 Chapter II

Title: Compulsory Deposit of Additional Emoluments

State: Central

Year: 1974

.....of its provisions shall take effect, either prospectively or retrospectively, on such date, not being a date earlier than the appointed day, as may be specified in this behalf in the scheme and every scheme framed under this section shall have effect notwithstanding anything contained in any law (other than this Act) for the time being in force or in any instrument having effect by virtue of any enactment other than this Act. (4) The Central Government may make a scheme to add to, amend or vary any scheme framed under sub-section M. Section 11 - Rounding off Where the amount of any credit to be made in any Deposit Account contains a part of a rupee, then, such part, if it is fifty paise or more, shall be increased to one complete rupee and if it is less than fifty paise, it shall be ignored.

Add Emoluments Compulsory Deposit Act 1974 Section 9

Title: Repayment of Deposits

State: Central

Year: 1974

.....of any amount credited to the Additional Dearness Allowance Deposit Account for any period ending on the 30th day of June, 1976; (b) in the case of any amount credited to the Additional Dearness Allowance Deposit Account for any period ending, after the 30th day of June, 1976, (i) by crediting such amount to the provident fund account of such employee, if he is the subscriber of any such account, or (ii) in cash, where such employee is not a subscriber to any provident fund. Explanation. --For the purposes of this section, "provident fund" has the meaning assigned to it in section 2(e) of the Provident Funds Act, 1925.] ____________________________ 1. Substituted, omitted & inserted by Act 74 of 1976 w.e.f. 11.06.1976.

Income Tax Act, 1961 Section 32AB

Title: Investment Deposit Account

State: Central

Year: 1961

.....in this section referred to as the scheme) to be framed by the Central Government, or if the assessee is carrying on the business of growing and manufacturing tea in India, to be approved in this behalf by the Tea Board, the assessee shall be allowed a deduction (such deduction being allowed before the loss, if any, brought forward from earlier years is set-off under section 72) of - (i) a sum equal to the amount, or the aggregate of the amounts, so deposited and any amount so utilised; or (ii) a sum equal to twenty per cent of the profits of business or profession as computed in the accounts of the assessee audited in accordance with sub-section (5), whichever is less: Provided that where such assessee is a firm, or any association of persons or any body of individuals, the deduction under this section shall not be allowed in the computation of the income of any partner, or as the case may be, any member of such firm, association of persons or body of individuals: Provided further that no such deduction shall be allowed in relation to the assessment year commencing on the 1st day of April, 1991, or any subsequent assessment year. (2) For the purposes of this section,.....

Add Emoluments Compulsory Deposit Act 1974 Chapter I

Title: Additional Emoluments (Compulsory Deposit) Act, 1974

State: Central

Year: 1974

.....dearness allowance is to take effect. Explanation I. --Where payment of dearness allowance is linked to a cost of living index or any other factor, any automatic payment, after the appointed day, of dearness allowance in consequence of any rise in such cost of living index or in consequence of any change in such other factor shall, notwithstanding the provisions of this clause, be deemed to be the additional dearness allowance. Explanation II. --For the purpose of computation of the additional dearness allowance in relation to an employee who enters into any post after the appointed day, dearness allowance payable, immediately before the appointed day, in relation to such post shall be deemed to be the dearness allowance payable to such employee as if, he were holding that post on the appointed day and any excess over and above the said dearness allowance shall be deemed, for the purposes of this Act, to be the additional dearness allowance in relation to such employee; (c) "additional wages" means such wages, over and above the wages payable to an employee in accordance with the rates in force immediately before the appointed day, as may become payable to the.....

Add Emoluments Compulsory Deposit Act 1974 Section 7

Title: Deposit to Carry Simple Interest

State: Central

Year: 1974

(1) Every amount credited under section 6, in relation to an employee in a Deposit Account, shall carry simple interest at a rate, which shall be two and a half per cent over and above the bank deposit rate. (2) The interest due on the amount credited in any Deposit Account shall be calculated in such manner as may be specified in the scheme. (3) Interest accruing on amounts credited under section 6 to any Deposit Account shall ensure to the benefit of the employees in relation to whom such amounts have been credited. (4) For the purpose of the deductions under section 80L of the Income-tax Act, 1961, (43 of 1961) interest received on a deposit under this Act shall be deemed to be interest received on a deposit with a banking company to which the Banking Regulation Act, 1949, (10 of 1949) applies.

Add Emoluments Compulsory Deposit Act 1974 Complete Act

Title: Add Emoluments Compulsory Deposit Act 1974

State: Central

Year: 1974

.....DEPOSIT) ACT, 1974 Chapter I Section1 - Short title, extent and commencement Section2 - Definitions Section3 - Persons to whom this Act applies Section4 - Act to have overriding effect Chapter II Section5 - Additional Wages Deposit Account and Additional Dearness Allowance Deposit Section6 - Duty of employer or other person to make deductions of additional wages and additional dearness allowance from emoluments Section7 - Deposit to carry simple interest Section8 - Assessment for purpose of income tax Section9 - Repayment of deposits Section10 - Power of Central Government to frame scheme Section11 - Rounding off Chapter III Section12 - Amounts due to be first charge in the case of insolvency or liquidation of the employer Section13 - Transfer of establishments Section14 - Penalties Section15 - Offences by companies Section16 - Cognizance of offences Section17 - Power to exempt Section18 - Power to delegate Section19 - Protection against attachment Section20 - Power to call for returns and inspect accounts Section21 - Protection of action taken in good faith Section22 - Persons performing functions under this Act to be public servants Section23 - Recovery.....

Add Emoluments Compulsory Deposit Act 1974 Section 20

Title: Power to Call for Returns and Inspect Accounts

State: Central

Year: 1974

.....determine the amount in respect of which such credit or remittance has not been made: PROVIDED that no such determination shall be made except after giving to the employer a reasonable opportunity of being heard. (5) It shall be the duty of every employer to whom this Act applies, to furnish to the nominated authority a copy of the award, decree or order of any court, tribunal or other authority or agreement or settlement relating to wage revision or revision of dearness allowance and also to produce such books of account and other books and papers as the nominated authority or the officer making the inspection may require. (6) Where any revision of wages or dearness allowance is made otherwise than in pursuance of any award, decree or order of any court, tribunal or other authority or agreement or settlement, the employer shall give an intimation to the nominated authority about such revision of wages or dearness allowance and furnish to the nominated authority such books of account and other books and papers as that authority may require.

Additional Emoluments (Compulsory Deposit) Act, 1974 Complete Act

State: Central

Year: 1974

.....the agent of such owner or occupier, and where a person is named as manager of the factory under clause (f) of sub-section (1) of section 7 of the Factories Act, 1948, ( 63 of 1948)-.the person so named; (ii) In relation to an establishment belonging to or under the control of the Central Government or a State Government, the person or authority appointed by the appropriate Government for the supervision and control of the employees, or where no person has been so appointed, the head of the Department concerned; (iii) in relation to an establishment belonging to or under the control of any local authority, the person appointed by such authority for the supervision and control of the employees, or where no person has been so appointed, the Chief Executive Officer of the local authority; (iv) in any other case, the person who, or the authority which, has the ultimate control over the affairs of the establishment, and where the said affairs are entrusted to any other person, whether called a manager, managing director or by any other name, such person; and includes, in the case of a deceased employer, the legal representative of such deceased employer; (i) "local authority" means.....

Income Tax Act, 1961 Section 33AB

Title: Tea Development Account, Coffee Development Account and Rubber Development Account

State: Central

Year: 1961

.....year relevant to the assessment year for which the deduction is claimed have been audited by an accountant as defined in the Explanation below sub-section (2) of section 288 and the assessee furnishes, along with his return of income, the report of such audit in the prescribed form7 duly signed and verified by such accountant: Provided that in a case where the assessee is required by or under any other law to get his accounts audited, it shall be sufficient compliance with the provisions of this sub-section if such assessee gets the accounts of such business audited under such law and furnishes the report of the audit as required under such other law and a further report in the form prescribed7 under this sub-section. (3) Any amount standing to the credit of the assessee in the special account or the 6[Deposit Account] shall not be allowed to be withdrawn except for the purposes specified in the scheme, or, as the case may be, in the deposit scheme or in the circumstances specified below: (a) closure of business; (b) death of an assessee; (c) partition of a Hindu undivided family; (d) dissolution of a firm; (e) liquidation of a company. 8[(4) Notwithstanding.....