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Income Tax Act, 1961 Complete Act

State: Central

Year: 1961

INCOME TAX ACT, 1961 INCOME TAX ACT, 1961 43 of 1961 [AS AMENDED BY FINANCE ACT, 2003] An Act to consolidate and amend the law relating to income-tax and super-tax BE it enacted by Parliament in the Twelfth 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 Income-tax Act, 1961. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act, it shall come into force on the 1st day of April, 1962. Section 2 Definitions 1 Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1) "advance tax" means the advance tax payable in accordance with the provisions of Chapter XVII-C;] 2 Renumbered as clause (1A) by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1A)] 3 For manner of computation of income which is partially agricultural and partially frombusiness, see rules 7, 7A, 7B and 8. For analysis, see Mashbra's Income-tax Rules."agricultural income" means - 4 Substituted by the Taxation Laws (Amendment) Act, 1970, w.r.e.f. 1-4-1962.[(a) any rent or revenue derived from land which is situated in India and is used for.....

Income Tax Act, 1961 Chapter VIA

Title: Deductions to Be Made in Computing Total Income

State: Central

Year: 1961

.....any premium or other payment made on an insurance policy other than a contract for a deferred annuity as is not in excess of twenty per cent of the actual capital sum assured. Explanation : In calculating any such actual capital sum assured, no account shall be taken (i) of the value of any premiums agreed to be returned, or (ii) of any benefit by way of bonus or otherwise over and above the sum actually assured, which is to be or may be received under the policy by any person. (4) The persons referred to in sub-section (2) shall be the following, namely: (a) for the purposes of clauses (i), (v), (x) and (xi) of that sub-section, (i) in the case of an individual, the individual, the wife or husband and any child of such individual, and (ii) in the case of a Hindu undivided family, any member thereof; (b) for the purposes of clause (ii) of that sub-section, in the case of an individual, the individual, the wife or husband and any child of such individual; (c) for the purpose of clause (xvii) of that sub-section, in the case of an individual, any two children of such individual. (5) Where, in any previous year, an assessee (i) terminates his contract of insurance.....

Income Tax Act, 1961 Section 80G

Title: Deduction in Respect of Donations to Certain Funds, Charitable Institutions, Etc.

State: Central

Year: 1961

..... 21. Omitted by the Finance (No. 2) Act, 2009 for the word :- "and" 22. See rule 11AA and Form No. 10G. For analysis, see Mashbra's Income-tax Rules. 23. Substituted by the Finance (No. 2) Act, 2009 for the words : - "made in this behalf" 24. Omitted by the Finance (No. 2) Act, 2009 for the following :- Provided that any approval shall have effect for such assessment year or years, not exceeding five assessment years, as may be specified in the approval. 25. Inserted by the Finance (No. 2) Act, 2009, with retrospective effect from 1st April, 2009. 26. Inserted by the Finance Act, 1999, with effect from 1st April, 2000. 27. Inserted by the Taxation Laws (Amendment) Act, 2001, with effect from 3rd February, 2001. 28. Substituted for This sub-section by the Finance Act, 2002, with retrospective effect from 3rd February, 2001. 29. Substituted for on or before the 31st day of March, 2002 by the Finance Act, 2002, with retrospective effect from 3rd February, 2001. 30. Substituted for 2003 by the Finance Act, 2003, with retrospective effect from 3rd February, 2001. 31. Substituted by the Finance Act, 2002, with retrospective effect from 3rd February, 2001......

Income Tax Act, 1961 Amending Act 1

Title: Taxation Laws (Amendment) Act, 2001

State: Central

Year: 1961

.....proviso snail be inserted, namely:-- "Providedalso that any amount of donation received by the fund or institution in terms of clause (d) of sub-section (2) of section 80G which has been utilised for purposes other than providing relief to the victims of earthquake in Gujarat or which remains unutilised in terms of sub-section (5C) of section 80G and not transferred to the Prime Minister's National Relief Fund on or before the 31st day of March, 2002 shall be deemed to be the income of the previous year and shall accordingly be charged to tax.". 5. Amendment of section 12 - In section 12 of the Income-tax Act, after sub-section (2) and the Explanation thereto, the following sub-section shall be inserted, namely: -- "(3) Notwithstanding anything contained in section 11, any amount of donation received by the trust or institution in terms of clause (d) of sub-section (2) of section 80G which has been utilised for purposes other than providing relief to the victims of earthquake in Gujarat or which remains unutilised in terms of sub-section (5C) of section 80G and not transferred to the Prime Minister's National Relief Fund on or before the 31st day of March, 2002 shall be.....

Taxation Laws (Amendment) Act, 2001 Section 6

Title: Amendment of Section 80g

State: Central

Year: 2001

In section 80G of the Income-tax Act, -- (a) In sub-section (1), in clause (i), -- (i) After the words, brackets, figures and letter "or in sub-clause (iiig)", the words, brackets, figures and letters "or in sub-clause (iiiga)" shall be inserted; (ii) After the words, brackets and letter "or in clause (c)", the words, brackets and letter "or in clause (d)" shall be inserted; (b) In sub-section (2),-- (i) In clause (a), after sub-clause (iiig), the following sub-clause shall be inserted, namely: -- "(iiiga) any fund set up by the Slate Government of Gujarat exclusively for providing relief to the victims of earthquake in Gujarat;"; (ii) After clause (c), the following clause shall be inserted, namely: -- "(d) Any sums paid by the assessee, during the period beginning on the 26th day of January, 2001 and ending on the 30th day of September, 2001, to any trust, institution or fund to which this section applies for providing relief to the victims of earthquake in Gujarat." (c) After sub-section (55), the following sub-section shall be inserted, namely: -- "(5C) This sub-section applies in relation to amounts referred to in clause (d) Of sub-section (2) only.....

The Jharkhand Municipal Act, 2011 Complete Act

State: Jharkhand

Year: 2011

.....or the Nagar Panchayat, the Executive Officer of the Municipal Council or the Nagar Panchayat; (47) "Factory" means a factory as defined in the Factories Act, 1948; (48) "Filth" means (a) night soil or other contents of latrines, cesspools and drains; (b) dirt, dung, refuse, useless or offensive materials thrown out in consequence of any process of manufacture, industry or trade; and (c) putrid or putrifying substance, (49) "Finance Commission" means the State Finance Commission constituted under Article 243-I of the Constitution of India and referred to in section 97 of this Act; (50) "Food" includes every article used for food or drink by man, other than drugs or water, and any article which ordinarily enters into, or is used in the composition or preparation of, human food, and also includes confectionery, flavouring and colouring matters, spices and condiments; (51) "Footpath" means a pavement, for use by pedestrians; (52) "Goods" include animals; (53) "Government" means the State Government of Jharkhand; (54) "Holding" means land held under one title or agreement and surrounded by one set of boundaries: Provided that, where two or more adjoining holdings held by the same.....

Bengal Famine Insurance Fund Act, 1938 Complete Act

State: West Bengal

Year: 1938

.....there is anything repugnant in the subject or context, "Fund" means the 22. Words subs. by the Indian Independence (Adaptation of Bengal and Punjab Acts) Order, 1948. [West Bengal] Famine Insurance Fund established under section 3. Section 3 Establishment of the West Bengal Famine Insurance Fund On the commencement of this Act, the 33. Word subs. by the Adaptation of Laws Order, 1950. [State] Government shall establish in and for 3a3a. Words subs. by the Indian Independence (Adaptation of Bengal and Punjab Acts) Order, 1948. [West Bengal] a Fund, called the 3a[West Bengal] Famine Insurance Fund. The Fund shall consist of (i) the contribution by the 44. Word subs. by the Adaptation of Laws Order. 1950. [State] Government under section 4; (ii) such other sums as the 44. Word subs. by the Adaptation of Laws Order. 1950. [State] Government may contribute to the Fund under section 7; and (iii) the interest which may from time to time accrue on the securities in which the sums to the credit of the Fund may be invested or re-invested under section 6. Section 4 Initial contribution to the Famine Insurance Fund by State Government As soon as may be after the commencement of this.....

Finance Act, 2003 Schedule II

Title: The Second Schedule

State: Central

Year: 2003

..... "(iv) where the licensing authority grants an extension of the period for fulfilment of export obligation in terms of, and subject to the satisfaction of such condition as may be specified in a Public Notice of the Government of India in the Ministry of Commerce and Industry in this regard and the licence-holder units are affected by the earthquake which took place in the State of Gujarat in the month of January, 2001, then, the said period of fulfilment of export obligation may, notwithstanding anything contained in condition (iii), be extended and be deemed to have been extended beyond the 31st day of March, 2002, but shall in no case be extended beyond the 31st day of March, 2004.". 3rd May, 1990. 2 G.S.R. 423 (E), dated the 20th April, 1992 (160/ 1992-CUSTOMS, dated the 20th April, 1992) In the said notification, after condition (iv), the following condition shall be inserted, namely: -- "(v) where the licensing authority, in respect of a licence-holder unit affected by the earthquake which took place in the State of Gujarat in the month of January, 2001, grants extension of the period for fulfilment of export obligation, in terms.....

Income Tax Act, 1961 Chapter III

Title: Incomes Which Do Not Form Part of Total Income

State: Central

Year: 1961

.....him as an employee of the employer from whose service he has retired; (10B) any compensation received by a workman under the Industrial Disputes Act, 1947 (14 of 1947), or under any other Act or Rules, orders or notifications issued thereunder or under any standing orders or under any award, contract of service or otherwise, at the time of his retrenchment: Provided that the amount exempt under this clause shall not exceed (i) an amount calculated in accordance with the provisions of clause (b) of section 25F of the Industrial Disputes Act, 1947 (14 of 1947); or (ii) such amount, not being less than fifty thousand rupees, as the Central Government may, by notification in the Official Gazette, specify in this behalf, whichever is less : Provided further that the preceding proviso shall not apply in respect of any compensation received by a workman in accordance with any scheme which the Central Government may, having regard to the need for extending special protection to the workmen in the undertaking to which such scheme applies and other relevant circumstances, approve in this behalf. Explanation : For the purposes of this clause (a) compensation received by a.....

Motor Vehicles Act, 1939 Complete Act

State: Central

Year: 1939

.....that Chapter so takes effect in that State, Chapter VII of the Travancore-Cochin Motor Vehicles Act, 1125, shall have effect in that State as if enacted in this Act.] SECTION 02: DEFINITIONS - In this Act unless there is anything repugnant in the subject or context- 6(1) "Area", in relation to any provision of this Act, means such area as the State Government may, having regard to the requirements of that provision specify by Notification in the official Gazette. (1A) "articulated vehicle" means a tractor to which a trailer is attached in such a manner that a part of the trailer is super-imposed on, and a part of the weight of the trailer is borne by, the tractor;] "The 'Committee are of the opinion that the explanation In Form E of the First dule terms "area" and "route", which occur dule; should be brought to the section by to the various sections of the principal Act which the various expressions have been and In the clauses of the Bill, should be de defined. The Committee have accordingly fined. The Committee also feel that the de- Inserted suitable definitions of these terms In finition of 'articulated vehicle' as given in the clause."-J.C. R.-Gaz of India. 25-11- 1968,.....