Bare Act Search Results

Finance Act 1972 Schedule I

Title: First Schedule

State: Central

Year: 1972

.....or charging income-tax in certain cases, deducting income-tax from income chargeable under the head "salaries" or any payment referred to in Sub-section (9) of Section 80E and computing "advance tax" In cases in which income-tax has to be calculated under the first proviso to sub-section (5) of section 132 of the Income-tax Act or charged under sub-section (4) of section 172 or sub-section (2) of section 174 or section 175 or sub-section (2) of section 176 of the said Act or deducted under section 192 of the said Act from income chargeable under the head "Salaries" or deducted under sub-section (9) of section 80E of the said Act from any payment referred to in the said sub-section (9) or in which the "advance tax" payable under Chapter XVII-C of the said Act has to be computed, at the rate or rates in force, such income-tax or, as the case may be, "advance tax" (not being "advance tax" in respect of any income chargeable to tax under section 164 of the Income-tax Act at the rate of sixty-five per cent.) shall be so calculated, charged, deducted or computed at the following rate or rates :- Paragraph A In the case of every individual or Hindu undivided family or.....

Finance Act, 1972 Complete Act

State: Central

Year: 1972

.....AND NON-RECURRING RECEIPTS NOT TO BE INCLUDED IN THE TOTAL INCOME FOR THE ASSESSMENT YEAR 1972-73 - Notwithstanding the amendments made by this Act to the income-tax Act, in computing, in the case of any person, the total income of a previous year relevant to the assessment year commencing on the 1st day of April, 1972, any income falling within clause (3) ofsection 10 of the Income-tax Act-as it stood immediately before the 1st day of April, 1972, shall not be included. SECTION 60: APPLICABILITY OF REVISED RATE OF INTEREST -- For the removal of doubts, it is hereby declared that where interest is payable under " (a)section 139 of the Income-tax Act-or any other provision of that Act referred to insection 25-of this Act: or (b)section 31-orsection 34A of the Wealth-tax Act-: or (c)section 32-orsection 33A of the Gift-tax Act-; or (d)section 18 of the Companies (profits) sur-tax Act-, in respect of any period commencing on or before the 31st day of March, 1972, and ending after that date, such interest shall, in respect of so much of such period as falls after that date, be calculated at the rate of twelve per cent. per annum. SECTION 61: AMENDMENT OF ACT 32 OF 1934 --.....

Wild Life (Protection) Act, 1972 Section 58B

Title: Definitions

State: Central

Year: 1972

.....or by any other means; (e) "freezing" means temporarily prohibiting the transfer, conversion, disposition or movement of property by an order issued under section 58F; (f) "identifying" includes establishment of proof that the property was derived from, or used in, the illegal hunting and trade of wild life and its products; (g) "illegally acquired property" in relation to any person to whom this Chapter applies, means, (i) any property acquired by such person, wholly or partly out of or by means of any income, earnings or assets derived or obtained from or attributable to illegal hunting and trade of wild life and its products and derivatives; (ii) any property acquired by such person, for a consideration or by any means, wholly or partly traceable to any property referred to in sub-clause (i) or the income or earning from such property, and includes (A) any property held by such person which would have been, in relation to any previous holder thereof, illegally acquired property under this clause if such previous holder had not ceased to hold it, unless such person or any other person who held the property at any time after such previous holder or,.....

Finance Act 1972 Chapter III

Title: Direct Taxes-income-tax

State: Central

Year: 1972

.....: Provided that no deduction shall be made under this section from any payment made before the 1st day of June, 1972. 194C. Payments to contractors and sub-contractors. - (1) Any person responsible for paying any sum to any resident (hereafter in this section referred to as the contractor) for carrying out any work (including supply or labour for carrying out any work) in pursuance of a contract between the contractor and - (a) the Central Government or any State Government; or (b) any local authority; or (c) any corporation established by or under a Central, State or provincial Act; or (d) any company, shall, at the time of credit of such sum to the account of the contractor or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct an amount equal to 2 per cent. of such sum as income-tax on income comprised therein. (2) Any person (being a contractor and not being an individual or a Hindu undivided family) responsible for paying any sum to any resident (hereafter in this section referred to as the sub-contractor) in pursuance of a contract with the sub-contractor for carrying out, or for the.....

Finance Act 1972 Section 7

Title: Amendment of Section 13

State: Central

Year: 1972

.....in so far as such use or application relates to any period before the 1st day of July, 1972, no regard shall be had to the amendments made to this section by section 7 [other than sub-clause (ii) of clause (a) thereof] of the Finance Act, 1972."; (b) in sub-section (2), for clause (g), the following clause shall be substituted, namely :- "(g) if any income or property of the trust or institution is diverted during the previous year in favour of any person referred to in sub-section (3) : Provided that this clause shall not apply where the income, or the value of the property or, as the case may be, the aggregate of the income and the value of the property, so diverted does not exceed one thousand rupees;"; (c) in sub-section (3), - (i) after clause (c), the following clause shall be inserted, namely :- "(cc) any trustee of the trust or manager (by whatever name called) of the institution;"; (ii) in clause (d), for the words "or member", the words "member, trustee or manager" shall be substituted; (iii) in clause (e), for the brackets and letter "(c)", the brackets and letters "(c), (cc)" shall be substituted; (d) in sub-section (4), for the word and figures.....