Bare Act Search Results

Finance Act, 1995 Complete Act

State: Central

Year: 1995

.....by virtue of holding a capital asset, being a share or any other security within the meaning of clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (hereinafter in this clause referred to as the financial asset), the assessee" (A) becomes entitled to subscribe to any additional financial asset; or (B) is allotted any additional financial asset without any payment. then, subject to the provisions of sub-clauses (i) and (ii) of clause (b)"; (ii) after sub-clause (iii), the following sub-clause shall be inserted, namely :" '(iiia) in relation to the financial asset allotted to the assessee without any payment and on the basis of holding of any other financial asset, shall be taken to be nil in the case of such assessee"; SECTION 15: INSERTION OF NEW SECTION 80DDA After section 80DD of the Income-tax Act, the following section shall be inserted, with effect from the 1st day of April, 1996, namely :" '80DDA. Deduction in respect of deposit made for maintenance of handicapped dependant." (1) In computing the total income of an assessee who is resident in India, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and.....

Finance Act, 1995 Schedule 1

Title: First Schedule

State: Central

Year: 1995

..... (4) Notwithstanding anything contained in this rule, no loss which has not been determined by the Assessing Officer under the provisions of these rules or the rules contained in Part IV of the First Schedule to the Finance Act, 1987 (11 of 1987), or of the First Schedule to the Finance Act, 1988 (26 of 1988), or of the First Schedule to the Finance Act, 1989 (13 of 1989), or of the First Schedule to the Finance Act, 1990 (12 of 1990), or of the First Schedule to the Finance (No. 2) Act, 1991 (49 of 1991), or of the First Schedule to the Finance Act, 1992 (18 of 1992), or of the First Schedule to the Finance Act, 1993 (38 of 1993), or of the First Schedule to the Finance Act, 1994 (32 of 1994), shall be set off under sub-rule (1) or, as the case may be, sub-rule (2). Rule 9 - Where the net result of the computation made in accordance with these rules is a loss, the loss so computed shall be ignored and the net agricultural income shall be deemed to be nil. Rule 10 - The provisions of the Income-tax Act relating to procedure for assessment (including the provisions of section 288A relating to rounding off of income) shall, with the necessary modifications, apply in relation.....

Delhi Rent Act, 1995 Section 2

Title: Definitions

State: Central

Year: 1995

.....a hotel or a lodging house; (k) "prescribed" means prescribed by rules made under this Act; (l) ''Rent Authority" means an authority appointed under sub-section (1) of section 43 and includes an additional Rent Authority appointed under sub-section (2) of that section; (m) "standard rent", in relation to any premises, means the rent calculated under section 7; (n) "tenant" means any person by whom or on whose account or behalf the rent of any premises is or, but for a special contract, would be payable, and includes-- (i) a sub-tenant; (ii) any person continuing in possession after the termination of his tenancy. but does not include-- (i) any person against whom an order or decree for eviction has been made, except where such decree or order for eviction is liable to be re-opened under the proviso to section 3 of the Delhi Rent Control (Amendment) Act, 1976(18 of 1976); (ii) any person to whom a licenses as defined in section 52 of the Indian Easements Act, 1882 has been granted; (o) "Tribunal" means the Delhi Rent Tribunal established under section 46; (p) "urban area" has the same meaning as in the Delhi Municipal Corporation Act, 1957.

Delhi Rent Act, 1995 Section 33

Title: Recovery of Possession in Case of Tenancies for Limited Period

State: Central

Year: 1995

.....not be construed to be consecutive, if a period of five years or more has elapsed after the expiry of the last limited period tenancy; (ii) entertain any application from the tenant calling in question the bona fides of the landlord in letting the premises under this section. (3) All applications made before the Rent Authority and appeals made before the Tribunal by the tenant shall abate on the expiry of period for which permission has been granted under sub-section (1). (4) While making an order under sub-section (1), the Rent Authority may award to the landlord damages for the use or occupation of the premises at double the last rent paid by the tenant together with interest at the rate of fifteen per cent. per annum for the period from the date of such order till the date of actual vacation by the tenant.

Wakf Act, 1995 Section 72

Title: Annual Contribution Payable to Board

State: Central

Year: 1995

.....of the Chief Executive Officer is incorrect or false in any material particular, or which does not comply with the provisions of this Act or any rule or order made thereunder, the Chief Executive Officer may assess the net annual income of the wakf to the best of his judgment or revise the net annual income as shown in the return submitted by the mutawalli and the net annual income as so assessed or revised shall be deemed to be the net annual income of the wakf for the purposes of this section: Provided that no assessment of the net annual income or revision of return submitted by mutawalli shall be made except after giving a notice to the mutawalli calling upon him to show cause, within the time specified in the notice, as to why such assessment or revision of the return shall not be made and every such assessment or revision shall be made after considering the reply if any, given by the mutawalli. (7) Any mutawalli who is aggrieved by the assessment or revision made by the Chief Executive Officer under sub-section (6) may prefer an appeal to the Board within thirty days from the date of the receipt of the assessment or revision of return and the Board may, after giving.....

Delhi Rent Act, 1995 Chapter IV

Title: Protection of Tenants Against Eviction

State: Central

Year: 1995

.....as the case may be, to indicate the dwelling house possession of which he intended to recover. Explanation.-- For the purposes of this sub-section, sections 24, 25 and 26, immediate possession shall mean possession recoverable on the expiry of sixty days from the date of order of eviction.(2) Where a landlord exercises the right of recovery conferred on him by sub-section (1) or section 22, 24, 25 or 26 and he had received,-- (a) any rent in advance from the tenant, he shall, within a period of ninety days from the dale of recovery of possession of the premises by him, refund to the tenant such amount as represents the rent payable for the unexpired portion of the contract, agreement or lease; (b) any other payment, he shall, within the period aforesaid, refund to the tenant a sum which shall bear the same proportion to the total amount so received, as the unexpired portion of the contract, agreement or lease bears to the total period of contract, agreement or lease: Provided that, if any default is made in making any refund as aforesaid, the landlord shall be liable to pay simple interest at the rate of fifteen per cent. per annum on the amount which he has.....

Finance Act, 1995 Section 36

Title: Insertion of New Sections 194j and 194k

State: Central

Year: 1995

.....of section 44AA or of this section; (b) "fees for technical services" shall have the same meaning as in Explanation 2 to clause (vii) of sub-section (1) of section 9; (c) where any sum referred to in sub-section (1) is credited to any account, whether called "Suspense account" or by any other name, in the books of account of the person liable to pay such sum, such crediting shall be deemed to be credit of such sum to the account of the payee and the provisions of this section shall apply accordingly. 194K. Income In Respect Of Units. - (1) Where Any Income Is Payable To A Resident In Respect Of Units Of A Mutual Fund Specified Under Clause (23d) Of Section 10 or of the Unit Trust of India the person responsible for making the payment shall, at the time of credit of such income to the account of the payee 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 income-tax thereon at the rate of, - (a) twenty per cent., if the payee is a company, and (b) fifteen per cent. in the case of other payees. (2) The provisions of sub-section (1) shall not apply - (i) where the amount of such income or,.....

Wakf Act, 1995 Chapter VIII

Title: Finance of the Board

State: Central

Year: 1995

.....which had escaped assessment, and demanding payment thereof within thirty days from the date of service of such notice and the provisions of this Act and the rules made thereunder, shall, as far as may be, apply as if the assessments were made under this Act, in the first instance. Section 73 - Power of Chief Executive Officer to direct banks or other person to make payments (1) Notwithstanding anything contained in any other law for the time being in force, the Chief Executive Officer, if he is satisfied that it is necessary and expedient so to do, make an order directing any bank in which, or any person with whom any money belonging to a wakf is deposited, to pay the contribution, leviable under section 72, out of such money, as may be standing to the credit of the wakf in such bank or may be deposited with such person, or out of the moneys which may, from time to time, be received by bank or other person for or on behalf of the wakf by way of deposit, and on receipt of such orders, the bank or the other person, as the case may be, shall when no appeal has been preferred under sub-section (3), comply with such orders, or where an appeal has been preferred under.....

National Environment Tribunal Act, 1995 Section 5

Title: Procedure and Powers of Tribunal

State: Central

Year: 1995

.....the Code of Civil Procedure, 1908 (5 of 1908), but shall be guided by the principles of natural justice and, subject to the other provisions of this Act and of any rules, the Tribunal shall have power to regulate its own procedure including the fixing of places and times of its inquiry. (4) The Tribunal shall have, for the purpose of discharging its functions under this Act, the same powers as are vested in a civil court under the Code of Civil Procedure, 1908 (5 of 1908), while trying a suit, in respect of the following matters, namely: (a) summoning and enforcing the attendance of any person and examining him on oath; (b) requiring the discovery and production of documents; (c) receiving evidence on affidavits; (d) subject to the provisions of sections 123 and 124 of the Indian Evidence Act, 1872(1 of 1872), requisitioning any public record and document or copy of such record or document from any office; (e) issuing commissions for the examination of witnesses or documents; (f) reviewing its decisions; (g) dismissing an application or default or deciding it ex parte; (h) setting aside any order of dismissal of any application for default or any order passed by.....

Finance Act, 1995 Section 12

Title: Amendment of Section 43

State: Central

Year: 1995

In section 43 of the Income-tax Act, in clause (3), after the words "business or profession", the words "but does not include tea bushes or livestock" shall be inserted and shall be deemed always to have been inserted with effect from the 1st day of April, 1962.