Bare Act Search Results

Finance Act, 1995 Chapter II

Title: Rates of Income-tax

State: Central

Year: 1995

.....be the income-tax in respect of the total income. (3) In cases to which the provisions of Chapter XII or Chapter XII-A or sub-section (1A) of section 161 or section 164 or section 164A or section 167B of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as Income-tax Act) apply, the tax chargeable shall be determined as provided in that Chapter or that section, and with reference to the rates imposed by sub-section (1) or the rates as specified in that Chapter or section, as the case may be : Provided that the amount of income-tax computed in accordance with the provisions of section 112 shall be increased in the case of a domestic company by a surcharge as provided in Paragraph E of Part I of the First Schedule : Provided further that in respect of any income chargeable to tax under section 115B, or in the case of a domestic company having a total income exceeding seventy-five thousand rupees, under section 115BB, of the Income-tax Act, the income-tax computed shall be increased by a surcharge calculated at the rate of fifteen per cent. of such income-tax. (4) In cases in which tax has to be deducted under sections 193, 194, 194A, 194B, 194BB, 194D and.....

Finance Act, 1995 Section 2

Title: Income-tax

State: Central

Year: 1995

.....be the income-tax in respect of the total income. (3) In cases to which the provisions of Chapter XII or Chapter XII-A or sub-section (1A) of section 161 or section 164 or section 164A or section 167B of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as Income-tax Act) apply, the tax chargeable shall be determined as provided in that Chapter or that section, and with reference to the rates imposed by sub-section (1) or the rates as specified in that Chapter or section, as the case may be : Provided that the amount of income-tax computed in accordance with the provisions of section 112 shall be increased in the case of a domestic company by a surcharge as provided in Paragraph E of Part I of the First Schedule : Provided further that in respect of any income chargeable to tax under section 115B, or in the case of a domestic company having a total income exceeding seventy-five thousand rupees, under section 115BB, of the Income-tax Act, the income-tax computed shall be increased by a surcharge calculated at the rate of fifteen per cent. of such income-tax. (4) In cases in which tax has to be deducted under sections 193, 194, 194A, 194B, 194BB, 194D 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.....

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.....

Technology Development Board Act, 1995 Preamble 1

Title: Technology Development Board Act, 1995

State: Central

Year: 1995

THE TECHNOLOGY DEVELOPMENT BOARD ACT, 1995 [Act, No.44 of 1995] [16th December, 1995] PREAMBLE An Act to provide for the constitution of a Board for payment of equity capital or any other financial assistance to industrial concerns and other agencies attempting development and commercial application of indigenous technology or adapting imported technology to wider domestic applications and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Forty-sixth Year of the Republic of India as follows:-

Technology Development Board Act, 1995 Complete Act

State: Central

Year: 1995

.....Board shall be a body corporate by the name aforesaid having perpetual succession and a common seal with power, subject to the provisions of this Act, to contract and shall, by the said name, sue and be sued. (3) The Board shall consist of the following members, namely:- (a) the Secretary to the Government of India in charge of the ex officio Ministry or Department of the Central Government Chairperson; dealing with Science and Technology (b) the Secretary to the Government of India in charge of the ex officio; Ministry or Department of the Central Government dealing with Scientific and Industrial Research (c) the Secretary to the Government of India in charge of the ex officio', Ministry or Department of the Central Government dealing with Finance (Expenditure) (d) the Secretary to the Government of India in charge of the ex officio, Ministry or Department of the Central Government dealing with Defence Research and Development (e) the Secretary to the Government of India in charge of the ex officio', Ministry or Department of the Central Government dealing with Industrial Development (f) the Secretary to the Government of India in charge of the ex officio', Ministry or.....

Technology Development Board Act, 1995 Section 6

Title: Fractions of the Board

State: Central

Year: 1995

The Board may- (a) provide equity capital, subject to such conditions as may be determined by regulations, or any other financial assistance to industrial concerns and other agencies attempting commercial application of indigenous technology or adapting imported technology of wider domestic applications; (b) provide financial assistance to such research and development institutions engaged in developing indigenous technology or adaptation of imported technology for commercial application, as may be recognised by the Central Government. (c) perform such other functions as may be entrusted to it by the Central Government.

Technology Development Board Act, 1995 Chapter II

Title: Technology Development Board

State: Central

Year: 1995

.....Board shall be a body corporate by the name aforesaid having perpetual succession and a common seal with power, subject to the provisions of this Act, to contract and shall, by the said name, sue and be sued. (3) The Board shall consist of the following members, namely:- (a) the Secretary to the Government of India in-charge of the Ministry or Department of the Central Government dealing with Science and Technology ex officio; Chairperson; (b) the Secretary to the Government of India in-charge of the Ministry or Department of the Central Government dealing with Scientific and Industrial Research ex fficio; (c) the Secretary to the Government of India incharge of the Ministry or epartment of the Central Government dealing with Finance (Expenditure) ex officio; (d) the Secretary to the Government of India incharge of the Ministry of Department of the Central Government dealing with defence Research and Development ex officio; (e) the Secretary to the Government of India incharge of the Ministry of Department of the Central Government dealing with Industrial Development ex officio (f) the Secretary to the Government of India incharge of the Ministry of Department of.....

Finance Act, 1995 Section 4

Title: Amendment of Section 10

State: Central

Year: 1995

.....undertakings in accordance with the prescribed guidelines; and (c) "venture capital undertaking" means such domestic company whose shares are not listed in a recognised stock exchange in India and which is engaged in the manufacture or production of such articles or things (including computer software) as may be notified by the Central Government in this behalf."; (8) after clause (25), the following clause shall be inserted and shall be deemed always to have been inserted with effect from the 1st day of April, 1962, namely :- "(25A) any income of the Employees' State Insurance Fund set up under the provisions of the Employees' State Insurance Act, 1948 (34 of 1948);"; (9) after clause (26B), the following clause shall be inserted, namely :- '(26BB) any income of a corporation established by the Central Government or any State Government for promoting the interests of the members of a minority community. Explanation : For the purposes of this clause, "minority community" means a community notified as such by the Central Government in the Official Gazette in this behalf;'.

Finance Act, 1995 Chapter III

Title: Direct Taxes

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 (42 of 1956 (hereafter 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.....