Bare Act Search Results

Finance Act 1972 Chapter III

Title: Direct Taxes-income-tax

State: Central

Year: 1972

.....: Provided that no deduction shall be made under this section from any payment made before the 1st day of June, 1972. 194C. Payments to contractors and sub-contractors. - (1) Any person responsible for paying any sum to any resident (hereafter in this section referred to as the contractor) for carrying out any work (including supply or labour for carrying out any work) in pursuance of a contract between the contractor and - (a) the Central Government or any State Government; or (b) any local authority; or (c) any corporation established by or under a Central, State or provincial Act; or (d) any company, shall, at the time of credit of such sum to the account of the contractor 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 an amount equal to 2 per cent. of such sum as income-tax on income comprised therein. (2) Any person (being a contractor and not being an individual or a Hindu undivided family) responsible for paying any sum to any resident (hereafter in this section referred to as the sub-contractor) in pursuance of a contract with the sub-contractor for carrying out, or for the.....

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.....

Finance Act 1972 Section 23

Title: Substitution of New Section for Section 90

State: Central

Year: 1972

For section 90 of the Income-tax Act, the following section shall be substituted, namely :- "90. Agreement with foreign countries. - The Central Government may enter into an agreement with the Government of any country outside India - (a) for the granting of relief in respect of income on which have been paid both income-tax under this Act and income-tax in that country, or (b) for the avoidance of double taxation of income under this Act and under the corresponding law in force in that country, or (c) for exchange of information for the prevention of evasion or avoidance of income-tax chargeable under this Act or under the corresponding law in force in that country, or investigation of cases of such evasion or avoidance, or (d) for recovery of income-tax under this Act and under the corresponding law in force in that country, and may, by notification in the Official Gazette, make such provisions as may be necessary for implementing the agreement.".

Finance Act 1972 Section 49

Title: Amendment of Section 44a

State: Central

Year: 1972

In section 44A of the Wealth-tax Act, for the portion beginning with the words "the Central Government may" and ending with the words "for implementing the agreement.", the following shall be substituted, namely :- "The Central Government may enter into an agreement with the Government of any reciprocating country - (a) for the avoidance or relief of double taxation with respect to wealth-tax payable under this Act and under the corresponding law in force in the reciprocating country, or (b) for exchange of information for the prevention of evasion or avoidance of wealth-tax chargeable under this Act or under the corresponding law in force in that country or investigation of cases of such evasion or avoidance, or (c) for recovery of tax under this Act and under the corresponding law in force in that country, and may, by notification in the Official Gazette, make such provision as may be necessary for implementing the agreement.".

Finance Act 1972 Section 54

Title: Amendment of Section 44

State: Central

Year: 1972

In section 44 of the Gift-tax Act, for the portion beginning with the words "The Central Government may" and ending with the words "for implementing the agreement.", the following shall be substituted, namely :- "The Central Government may enter into an agreement with the Government of any reciprocating country - (a) for the avoidance or relief of double taxation with respect to gift-tax payable under this Act and under the corresponding law in force in the reciprocating country, or (b) for exchange of information for the prevention of evasion or avoidance of gift-tax chargeable under this Act or under the corresponding law in force in that country or investigation of cases of such evasion or avoidance, or (c) for recovery of tax under this Act and under the corresponding law in force in that country, and may, by notification in the Official Gazette, make such provision as may be necessary for implementing the agreement.".

Finance Act 1972 Section 57

Title: Substitution of New Section for Section 24a

State: Central

Year: 1972

For section 24A of the Companies (Profits) Surtax Act, 1964 (7 of 1964) [hereinafter referred to as the Companies (Profits) Surtax Act], the following section shall be substituted, namely :- "24A. Agreement with foreign countries. - The Central Government may enter into an agreement with the Government of any country outside India - (a) for the granting of relief in respect of chargeable profits on which have been paid both surtax under this Act and tax of a similar character or income-tax on such profits in that country, or (b) for the avoidance of double taxation of chargeable profits under this Act and under any law relating to the taxation of income or profits in force in that country, or (c) for exchange of information for the prevention of evasion or avoidance of surtax chargeable under this Act or the tax chargeable under the corresponding law in force in that country or investigation of cases of such evasion or avoidance, or (d) for recovery of tax under this Act and under any law relating to the taxation of income or profits in force in that country. and may, by notification in the Official Gazette make such provision as may be necessary for implementing the.....

Coking Coal Mines (Nationalisation) Act, 1972 Complete Act

State: Central

Year: 1972

.....suitable notifications if the power In this regard is vested in the Government. In course of the adminstration of the coking coal mines,since the enactment of the 1972 Act. it has been noticed that the previous owners had accumulated large arrears towards workers dues in the shape of contributions to provident fund, wages and other dues. It is proposed to vest the Commissioner of payments appointed underS. 20of that Act with the authority to deduct arrears of wages, employers share of the provident fund contribution, pension fund, gratuity fund or other funds established for the welfare of workers out of the amount payable to the owners specified in the first and second Schedules of the Coking Coal Mines (Nationalisation) Act, 1972, with priority over all other dues, whether secured or unsecured. The relevant clauses of the Bill or in conformity with similar provisions of theCoal Mines (Nationalisation) Act, 1973. Since it may not be possible for a large body of workmen or their dependents to make claims before the Commissioner, both the Acts are being amended with a view to empowering the Coal Mines Provident Fund Commissioner to make the claims on behall of the workmen. It is.....

West Bengal Agricultural Produce Marketing (Regulation) Act, 1972 Complete Act

State: West Bengal

Year: 1972

.....defined and brought within the ambit of regulation, a large part of the buying and selling of agricultural produce may evade the operation of the Act. The Act oriented towards controlling the owners of markets; the primary duty of running the markets is Imposed upon the owners of the market: the market committee or the State Government may not intervene except in the event of formal failure on the part of the owners. If the present owners abide by the fair rents, undertake to check specified malpractices, provide for certain sanitary arrangements and maintain the markets as they are. such markets have to be left in their charge. The owners do not have any obligation to develop the markets and will have no incentive nor will they have resources enough for Investment for new development. An Act to provide for the regulation of marketing of agricultural produce in West Bengal. Assent of the President of India was first published In the Calcutta Gazette, Extraordinary, dated the 31st October. 1972. WHEREAS it is expedient to provide for the regulation of marketing of agricultural produce in West Bengal and for matters connected therewith; AND WHEREAS previous sanction of the.....