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 --.....

Diplomatic Relations (Vienna Conventions) Act, 1972 Schedule I

Title: The Schedule

State: Central

Year: 1972

.....rendered; (f) registration, court or record fees, mortgage dues and stamp duty, with respect to immovable property, subject to the provisions of article 23. Article 35 The receiving State shall exempt diplomatic agents from all personal services, from all public service of any kind whatsoever, and from military obligations such as those connected with requisitioning, military contributions and billeting. Article 36 1. The receiving State shall, in accordance with such laws and regulations as it may adopt, permit, entry of and grant exemption from all customs duties, taxes, and related charges other than charges for storage, cartage and similar services, on : (a) articles for the official use of the mission; (b) articles for the personal use of a diplomatic agent or members of his family forming part of his household, including articles intended for his establishment. 2. The personal baggage of a diplomatic agent shall be exempt from inspection, unless there are serious grounds for presuming that it contains articles not covered by the exemptions mentioned in paragraph 1 of this article, or articles the import or export of which is prohibited by the law or.....

Diplomatic Relations (Vienna Convention) Act 1972 Complete Act

State: Central

Year: 1972

.....to the Government of India in the Ministry of External Affairs stating any fact relating to that question shall be conclusive evidence of that fact. SECTION 10: POWER TO MAKE RULES - The Central Government may2[, by notification in the official Gazette.] make rules for carrying out the purposes of this Act. SECTION 11: NOTIFICATIONS ISSUED AND RULES MADE UNDER THIS ACT TO BE LAID BEFORE PARLIAMENT - Every notification issued and every rule made under this Act shall be laid as soon as may be after it is issued or made before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the notification or, as the case may be, in the rule, or both Houses agree that the notification or rule should not be issued or made, the notification or rule shall thereafter have effect only in such modified form or be of no effect, as the case may be, so, however, that any such modification or annulment shall be without prejudice to.....

Finance Act 1972 Chapter II

Title: Rates of Income-tax

State: Central

Year: 1972

.....is mainly enganged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining. Explanation : For the purposes of this clause, a company shall be deemed to be mainly enganged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining, if the income attributable to any one or more of the aforesaid activities included in its total income of the previous year (as computed before making any deduction under Chapter VIA of the Income-tax Act) is not less than 51 per cent. of such total income; (d) "tax free security" means any security of the Central Government issued or declared to be income-tax free, or any security of a State Government issued income-tax free, the income-tax whereon is payable by the State Government; (e) all other words and expressions used in this section and the First Schedule but not defined in this sub-section and defined in the Income-tax Act shall have the meanings, respectively, assigned to them in that Act.

Finance Act 1972 Section 2

Title: Income-tax

State: Central

Year: 1972

.....is mainly enganged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining. Explanation : For the purposes of this clause, a company shall be deemed to be mainly enganged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining, if the income attributable to any one or more of the aforesaid activities included in its total income of the previous year (as computed before making any deduction under Chapter VIA of the Income-tax Act) is not less than 51 per cent. of such total income; (d) "tax free security" means any security of the Central Government issued or declared to be income-tax free, or any security of a State Government issued income-tax free, the income-tax whereon is payable by the State Government; (e) all other words and expressions used in this section and the First Schedule but not defined in this sub-section and defined in the Income-tax Act shall have the meanings, respectively, assigned to them in that Act.

Carriage by Air Act, 1972 Complete Act

State: Central

Year: 1972

.....a reference to servants of the carrier. SECTION 05: LIABILITY IN CASE OF DEATH (1) Notwithstanding anything contained in the Fatal Accidents Act, 1855-or any other enactment or rule of law in force in any part of India, the rules contained in the First Schedule and in the Second Schedule shall, in all cases to which those rules apply, determine the liability of a carrier in respect of the death of a passenger. (2) The liability shall be enforceable for the benefit of such of the members of the passenger's family as sustained damage by reason of his death. (3) An action to enforce the liability may be brought by the personal representative of the passenger or by any person for whose benefit the liability is under sub-section (2) enforceable, but only one action shall be brought in India in respect of the death of any one passenger, and every such action by whomsoever brought shall be for the benefit of all such persons so entitled as aforesaid as either are domiciled in India or not being domiciled there express a desire to take the benefit of the action. (4) Subject to the provisions of sub-section (5) the amount recovered in any such action, after deducting any costs.....

Indian Copper Corporation (Acquisition of Undertaking) Act, 1972 Complete Act

State: Central

Year: 1972

.....restricting the use of such property in any manner shall be deemed to have been withdrawn. (3) Subject to the other provisions contained in this Act, all contracts and working arrangements which are subsisting immediately before the appointed day and affecting the company shall, in so far as they relate to the undertaking of the company, cease to have effect or be enforceable against the company or any person who was surety, or had guaranteed the performance thereof, and shall be of as full force and effect against or in favour of the Central Government and enforceable as fully and effectually as if instead of the company, the Central Government had been named therein or had been a party thereto. (4) Subject to the other provisions contained in this Act, any proceeding or cause of action pending or existing immediately before the appointed day by or against the company in relation to its undertaking in India may, as from such commencement, be continued and enforced by or against the Central Government as it might have been enforced by or against the company if this Act had not been passed, and shall cease to be enforceable by or against the company, its surety or guarantor. .....

Iron and Steel Company (Taking over of Management) Act, 1972 Complete Act

State: Central

Year: 1972

.....Government or the company for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act. SECTION 14: CONTRACTS IN BAD FAITH MAY BE CANCELLED OR VARIED - (1) If the Central Government is satisfied, after such enquiry as it may think fit, that any contract or ageement entered into at any time within three years immediately preceding the appointed day, between the company or the managing agents of the company and any other person, in so far as such contract or . agreement relates to the undertaking of the comany, has been entered into in bad faith, or is detrimental to the interests of the undetaking of the company, it may make an order cancelling or varying (either unconditionally or subject to such conditions as it may think fit to impose) such contract or agreement and thereafter the contract or agreement shall have effect accordingly: . . Provided that no contract or agreement shall be cancelled or varied except after giving to the parties to the contract or agreement reasonable opportunity of being heard. (2) Any person aggrieved by an order under sub-section (1) may make an application to the High Court at.....