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Companies Profits Surtax Act 1964 Section 3

Title: Tax Authorities

State: Central

Year: 1964

.....under this Act in respect of any company, and for this purpose his jurisdiction under this Act shall be the same as that he has under the Income-tax Act by virtue of orders or directions issued under section 120 of that Act (including orders or directions assigning concurrent jurisdiction) or under any other provision of that Act. (2) The Board may, from time to time issue such orders, instructions and directions to other tax authorities as it may deem fit for the proper adminsitration of this Act, and such authorities and all other persons employed in the execution of this Act shall observe and follow such orders, instructions and directions of the Board: Provided that no such orders, instructions or directions shall be issued-- (a) so as to require any tax authority to make a particular assessment or to dispose of a particular case in a particular manner; or (b) so as to interfere with the discrertion of the Commissioner (Appeals) in the exercise of his appellate functions.] ________________________ 1. Substituted by the Direct Tax Laws (Amdt.) Act (4 of 1988), S. 188 (1-4-1988).

Industrial Development Bank of India Act, 1964 [Repealed] Section 5

Title: Management

State: Central

Year: 1964

Section 5 - Management 1 [(1) The general superintendence, direction and management of the affairs and business of the Development Bank shall vest in a Board of Directors which may exercise all powers and do all such acts and things, as may be exercised or done by the Development Bank and are not by this Act expressly directed or required to be done by the Development Bank in general meeting. (2) The Board may direct that any power exercisable by it under this Act shall also be exercisable in such cases and subject to such conditions, if any, as may be specified by it, by the chairman, managing director or the whole-time director] (3) Subject to the provisions of this Act, the Board in discharging its functions shall act on business principles with due regard to public interest. 2 [***] ______________________ 1. Substituted by Act 5 of 1995, sec. 6, for sub-sections (1) and (2) (w.r.e.f. 12-10-1994). Earlier sub-section (2) was Substituted by Act 52 of 1975, sec. 6. 2. Sub-section (4) Inserted by Act 52 of 1975, sec. 6 and omitted by Act 5 of 1995, sec. 6 (w.r.e.f. 12-10-1994).

Companies Profits Surtax Act 1964 Section 7D

Title: Interest Payable by Assessee in Case of Under-estimate, Etc

State: Central

Year: 1964

.....the amount paid in each such instalment and the amount which should have been paid, having regard to the aggregate advance surtax actually paid during the year. Explanation.-- For the purposes of this section, any instalment due before the expiry of six months from the commencement of the previous year in respect of which it is to be paid shall be deemed to have become due fifteen days after the expiry of the said six months.] ________________________ 1. Substituted for the words "Income-tax Officer" and consequential changes as the rules of grammar may require by the Direct Tax Laws (Amdt.) Act (4 of 1988), S. 187 (1-4-1988). 2. Substituted for the words "twelve per cent" wherever they occur in Ss. 7B to 7D by the Taxation Laws (Amdt.) Act (67 of 1984), S. 77 (1-10-1984).

Companies Profits Surtax Act 1964 Section 9

Title: Penalties

State: Central

Year: 1964

.....required under section 5, or to produce or cause to be produced the accouts, documents or other evidence required by the1[Assessing Officer] under sub-section (1) of section 6, or has concealed the particulars of the chargeable profits or has furnished inaccurate particulars of such profits, he may direct that such person shall pay, by way of penalty, in addition to the amount of surtax payable, a sum not exceeding-- (a) where the person has failed to furnish the return required under section 5, the amount of2[Surtax chargeable under the provisions of this Act] (b) in any other case, the amount of surtax which would have been avoided if the return made had been accepted as correct: Provided that the1[Assessing Officer] shall not impose any penalty under this section without the previous authority of the1[Deputy Commissioner]. ________________________ 1. Substituted for the words "Income-tax Officer"and "Inspecting Assistant Commissioner", wherever they occur, by the Finance Act (4 of 1988), S. 187 (1-4-1988). 2. Substituted and deemed always to have been substituted for the words "Surtax payable" by Direct Taxes (Amdt.) Act, 1974 (26 of 1974), S. 20.

Companies Profits Surtax Act 1964 Section 9A

Title: False Estimate Of, or Failure to Pay, Advance Surtax

State: Central

Year: 1964

.....without reasonable cause failed to furnish a statemnt of the advance surtax payable by him in accordance with the provisions of clause (a) of sub-section (5) of section 7 A, he may direct that such assessee shall, in addition to the amount of surtax, if any, payable by him, pay by way of penalty a sum-- (i) which, in the case referred to in clause (a), shall not be less than ten per cent but shall not exceed one and a half times the amount by which the surtax actually paid during the financial year immediately preceding the assessment year under the provisions of section 7A falls short of-- (1) eighty-three and one-third per cent of the assessed surtax, or (2) the amount which would have been payable by way of advance surtax if the assessee had furnished a correct and complete statement in accordance with the provisions of clause (a) of sub-section (5) of section 7A, whichever is less; (ii) which in the case referred to in clause (b), shall not be less than ten per cent but shall not exceed one and a half times of eighty-three and one-third percent of the assessed surtax. (2) If the Income-tax Officer, in the course of any proceedings in connection with the regular.....

Companies Profits Surtax Act 1964 Section 12

Title: Appeals to Appellate Tribunal

State: Central

Year: 1964

(1) Any assessee aggrieved by an order passed by a1[Chief Commissioner or Commissioner] under section 16, or an order passed by2[a Commissioner (Appeals)] under any provision of this Act, may appeal to the Appellate Tribunal against such order. (2) The1[Chief Commissioner or Commissioner] may, if he objects to any order passed by the3[Commissioner (Appeals)] under any provision of this Act, direct the4[Assessing officer] to appeal to the Appellate Tribunal against the order. (3) Every appeal under sub-section (1) or sub-section (2) shall be filed within sixty days of the date on which the order sought to be appealed against is communicated to the assessee or to the1[Chief Commissioner or Commissioner], as the case may be. (4) The4[Assessing Officer] or the assessee, as the case may be, on receipt of notice that an appeal against the order of the3[Commissioner (Appeal)] has been preferred under sub-section (1) or sub-section (2) by the other party may, notwithstanding that he may not have appealed against such order or any part thereof, within thirty days of the receipt of the notice, file a memorandum of cross-objections, verified in the prescribed manner, against any part.....

Companies Profits Surtax Act 1964 Section 16

Title: Revision of Orders Prejudicial to Revenue

State: Central

Year: 1964

.....assessment and directing a fresh assessment. 2 [Explanation.--For the removal of "doubts, it is hereby declared that, for the purposes ofthis sub-section, an order passed by the 1 [Assessing Officer] shallinclude an order passed by the 1 [Deputy Commissioner] in exercise ofthe powers or in performance of the functions of an 1 [AssessingOfficer] conferred on, or assigned to, him under clause (a) of sub-section (1)of section 125 or under sub-section (1) of section 125A of the Income-tax Act asapplied by section 18 of this Act.] 3 [(2)No order shall be made under sub-section (1) after the expiry of two years fromthe end of the financial year in which the order sought to be revised waspassed]. (3)Notwithstanding anything contained in sub-section (2), an order in revisionunder this section may be passed at any time in the case of an order which hasbeen passed in consequence of, or to give effect to, any finding or directioncontained in an order of the Appellate Tribunal, the High Court or the SupremeCourt. Explanation.--In computing the period oflimitation for the purpose of sub-section (2), anyperiod during which any proceeding under this section is stayed by an order.....

Slum Area(Improvement an Clearance) Amendment Act, 1964 Section 12

Title: Insertion of New Sections 20a and 20b

State: Central

Year: 1964

.....may be necessary and shall, on the basis of such plans and estimates and particulars, if any, furnished and having regard to the provisions of sub-section (3) of section 20B and after holding such inquiry as it may think fit, provisionally determine the rent that would be payable by the tenant if he were to be replaced in occupation of the building in pursuance of the declaration made by him under sub-section (1). (3) The rent provisionally determined under sub-section (2) shall be communicated in the prescribed manner to the tenant and the owner. (4) If the tenant after the receipt of such communication intimates in writing to the competent authority within such time as may be prescribed that when he is replaced in occupation of the building in pursuance of the declaration made by him under sub-section (1), he would pay to the owner until the rent is finally determined under section 20B the rent provisionally determined under sub-section (2), the competent authority shall direct the owner to place the tenant in occupation of the building after the completion of the work of improvement or re-erection of the building, as the case may be, and the owner shall be bound to.....

Merchant Shipping (Distress Messages and Navigational Warnings) Rules, 1964 Complete Act

State: Central

Year: 1964

..... (3) The Distress Signal shall precede the Distress Call and Message. (4) The use of the distress signal in any one of the ways specified in sub-rule (2) except for the purpose mentioned in sub-rule (1), or the use of any signal which is likely to be confused with the distress signal in one of the ways referred to in sub-rule (2) is prohibited. Note. Vessels in distress may use the radiotelegraph alarm signal or the radiotelephone alarm signal to secure attention to distress calls and messages. The radiotelegraph alarm signal, which is designed to actuate the radiotelegraph auto alarms or vessels so fitted, consists of a series of twelve dashes, sent in one minute, the duration of each dash being 4 seconds, and the duration of the interval between 2 consecutive dashes being one second. The radiotelephone alarm signal consists of 2 tones transmitted alternately over periods of from 30 seconds to one minute. Rule 5 Revocation of Distress Signal If, after sending out any distress signal by means of radio, the Master of the vessel which controlled the distress traffic subsequently finds that assistance is no longer required, he shall immediately send out a message notifying.....

Companies (Profits) Surtax Act, 1964 Complete Act

State: Central

Year: 1964

.....of India, 29-2-1964, Pt. II, S. 2, Ext., p. 178. Act 41 of 1975.- The object of this Bill is to amend the income-tax Act, 1961, the Wealth Tax Act. 1957, the Gift Tax Act, 1958 and the Companies (Profits) Surtax Act, 1964. The proposals relating to the amendments to these enactments have been formulated after a detailed examination of the recommendations of the Direct Taxes Enquiry Committee (Wanchoo Committee) and the Forty-seventh Report of the Law Commission on the Trial and Punishment of Social and Economic Offences, the latter in so far as they relate to direct taxes. Opportunity has been taken to sponsor some amendments on the basis of suggestions received from various other quarters as well. Technical difficulties arising in the operation of some of the provisions of these enactments have also been taken into account in formulating these proposals. 2. The main objective of the amendments proposed to be made are to unearth black-money and prevent its proliferation; to fight and curb tax evasion; to check avoidance of tax 'through various legal devices, including the formation of trusts and diversion of income or wealth to members of family; to reduce tax arrears and.....