Bare Act Search Results

Finance Act,1990 Schedule I

Title: First Schedule

State: Central

Year: 1990

.....of section 288A relating to rounding off of income) shall, with the necessary modifications, apply in relation to the computation of the net agricultural income of the assessee as they apply in relation to the assessment of the total income. Rule 12 - For the purposes of computing the net agricultural income of the assessee, the Assessing Officer shall have the same powers as he has under the Income-tax Act for the purposes of assessment of the total income. (C) any debentures issued by a company where such debentures are listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 and any rules made thereunder,

Finance Act, 1990 Complete Act

State: Central

Year: 1990

FINANCE ACT, 1990 FINANCE ACT, 1990 12 of 1990 An Act to give effect to the financial proposals of the Central Government for the financial year 1990-91. Be it enacted by Parliament in the Forty-first Year of the Republic of India as follows : SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called The Finance Act, 1990 (2) Save as otherwise provided in this Act, sections 2 to 61 shall be deemed to have come into force on the 1st day of April, 1990. SECTION 02: INCOME-TAX (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 1990, income-tax shall be charged at the rates specified.in Part I of the First Schedule and shall be increased,--- (a) in the cases to which Paragraphs A, B, C, and D of that Part apply, by a surcharge for purposes of theUnion; and (b) in the cases to which Paragraph E of that Part applies, by a surcharge, calculated in each case in the manner manner provided therein. (2) In the cases to which Sub-Paragraph I or Sub-Paragraph II of Paragraph A.of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income exceeding.....

Finance Act,1990 Chapter III

Title: Direct Taxes

State: Central

Year: 1990

.....turnover" shall not include any sum referred to in clauses (iiia), (iiib) and (iiic) of section 28;'; (iii) in clause (d), for the words "manufacturing goods", the words and brackets "manufacturing (including processing) goods" shall be substituted. Section 23 - Amendment Of Section 80HHD In section 80HHD of the Income-tax Act, with effect from the 1st day of April, 1991, - (a) in sub-section (2), for the words "by the assessee in convertible foreign exchange", the words and brackets "in, or brought into, India by the assessee in convertible foreign exchange within a period of six months from the end of the previous year or, where the Chief Commissioner or Commissioner is satisfied (for reasons to be recorded in writing) that the assessee is, for reasons beyond his control, unable to do so within the said period of six months, within such further period as the Chief Commissioner or Commissioner may allow in this behalf" shall be substituted; (b) for sub-section (3), the following sub-section shall be substituted, namely :- '(3) For the purposes of sub-section (1), profits derived from services provided to foreign tourists shall be the amount which bears to the.....

Finance Act,1990 Section 30

Title: Amendment of Chapter Viii

State: Central

Year: 1990

.....and subject to the provisions of sections 88 and 88A, the deductions specified in those sections. (2) The aggregate amount of the deductions under section 88 or section 88A shall not, in any case, exceed the amount of income-tax (as computed before allowing the deductions under this Chapter) on the total income of the assessee with which he is chargeable for any assessment year. 88. Rebate on life insurance premia, contribution to provident fund, etc. - (1) Subject to the provisions of this section, an assessee, being - (a) an individual, or (b) a Hindu undivided family, or (c) an association of persons or a body of individuals consisting, in either case, only of husband and wife governed by the system of community of property in force in the State of Goa and the Union territories of Dadra and Nagar Haveli and Daman and Diu, shall be entitled to a deduction, from the amount of income-tax (as computed before allowing the deductions under this Chapter) on his total income with which he is chargeable for any assessment year, of an amount equal to twenty per cent. of the aggregate of sums referred to in sub-section (2). (2) The sums referred to in sub-section (1).....

Finance Act,1990 Section 26

Title: Substitution of New Section for Section 80m

State: Central

Year: 1990

.....(Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), or any other bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934) and which is a domestic company; (ii) "public financial institution" shall have the meaning assigned to it in section 4A of the Companies Act, 1956 (1 of 1956); (iii) "State financial corporation" and "State industrial investment corporation" shall have the same meanings as in section 43B; (iv) "due date" means the date for furnishing the return of income under sub-section (1) of section 139.'.

Finance Act,1990 Section 58

Title: Amendment of Schedule Iii

State: Central

Year: 1990

.....valuer in the prescribed form, where the value of the jewellery on the valuation date exceeds rupees five lakhs. (3) Notwithstanding anything mentioned in sub-rule (2), the Assessing Officer may, if he is of opinion, that the value of the jewellery declared in the return, - (a) is less than its fair market value by such percentage or such amount as is prescribed under sub-clause (i) of clause (b) of sub-section (1) of section 16A; (b) is less than its fair market value as referred to in clause (a) of sub-section (1) of section 16A, he may refer the valuation of such jewellery to a Valuation Officer under sub-section (1) of the said section and the value of such jewellery shall be the fair market value as estimated by the Valuation Officer."; (b) in rule 19, in the opening portion, for the words, brackets and letter "clause (b) of", the words, brackets and figure "sub-rule (3) of" shall be substituted.

Prasar Bharati (Broadcasting Corporation of India) Act, 1990 Section 2

Title: Definitions

State: Central

Year: 1990

.....Fund created from the commercial revenues of Akashvani and Doordarshan to meet expenditure on certain schemes; (q) "notification" means a notification published in the Official Gazette; (r) "Part-time Member" means a Part-time Member of the Board appointed under section 4, but does not include an ex officio Member, the Nominated Member or an elected Member; (s) "prescribed" means prescribed by rules made under this Act; (t) "Recruitment Board" means a board established under sub-section (1) of section 10; (u) "regulations" means regulations made by the Corporation under this Act; (v) "station" means any broadcasting station with studios or transmitters or both and includes a relay station; (w) "whole-time Member" means the Executive Member, Member (Finance) or Member (Personnel); (x) "year" means the financial year.

Finance Act,1990 Section 17

Title: Insertion of New Section 80ccb

State: Central

Year: 1990

After section 80CCA of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 1991, namely :- "80CCB. Deduction in respect of investment made under Equity Linked Savings Scheme. - (1) Where an assessee, being - (a) an individual, or (b) a Hindu undivided family, or (c) an association of persons or a body of individuals consisting, in either case, only of husband and wife governed by the system of community of property in force in the State of Goa and the Union territories of Dadra and Nagar Haveli and Daman and Diu, has acquired in the previous year, out of his income chargeable to tax, units of any Mutual Fund specified under clause (23D) of section 10 or of the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963), under any plan formulated in accordance with such scheme as the Central Government may, by notification in the Official Gazette, specify in this behalf (hereafter in this section referred to as the Equity Linked Savings Scheme), he shall, in accordance with, and subject to, the provisions of this section, be allowed a deduction in the computation of his total income of so much of.....

Prasar Bharati (Broadcasting Corporation of India) Act, 1990 Chapter I

Title: Preliminary

State: Central

Year: 1990

.....Fund created from the commercial revenues of Akashvani and Doordarshan to meet expenditure on certain schemes; (q) "notification" means a notification published in the Official Gazette; (r) "Part-time Member" means a Part-time Member of the Board appointed under section 4, but does not include an ex officio Member, the Nominated Member or an elected Member; (s) "prescribed" means prescribed by rules made under this Act; (t) "Recruitment Board" means a board established under sub-section (1) of section 10; (u) "regulations" means regulations made by the Corporation under this Act; (v) "station" means any broadcasting station with studios or transmitters or both and includes a relay station; (w) "whole-time Member" means the Executive Member, Member (Finance) or Member (Personnel); (x) "year" means the financial year.

Prasar Bharati (Broadcasting Corporation of India) Act, 1990 Complete Act

State: Central

Year: 1990

PRASAR BHARATI (BROADCASTING CORPORATION OF INDIA) ACT, 1990 PRASAR BHARATI (BROADCASTING CORPORATION OF INDIA) ACT, 1990 25 OF 1990 An Act to provide for the establishment of a Broadcasting Corporation of India, to be known as Prasar Bharati, to define its composition, functions and powers and to provide for matters connected therewith or incidental thereto. Be it enacted by Parliament in the Forty-first Year of the Republic of India as follows :- CHAPTER 1 : PRELIMINARY SECTION 1 : Short title, extent and commencement (1) This Act may be called the Prasar Bharati (Broadcasting Corporation of India) Act, 1990. (2) It extends to the whole of India. (3) It shall come into force on such date 3 (a) [a] 15-9-1997 Gaz. of Ind., 22-7-1997, Pt. II. S. 3 (ii),Ext., p. I (No. 408). as the Central Government may, by notification, appoint. SECTION 2 : Definitions In this Act, unless the context otherwise requires,- (a) "Akashvani" means the offices, stations and other establishments by whatever name called which immediately before the appointed day, formed part of or were under the Director-General, All India Radio of the Union Ministry of Information and Broadcasting; .....