Bare Act Search Results

Finance Act 1997 Chapter III

Title: Direct Taxes

State: Central

Year: 1997

.....of a recognised stock exchange" means the membership of a stock exchange in India which is recognised under the provisions of the Securities Contract (Regulation) Act, 1956 (42 of 1956); (xii) any transfer of a capital asset, being land of sick industrial company, made under a scheme prepared and sanctioned under section 18 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), where such sick industrial company is being managed by its workers' co-operative : Provided that such transfer is made during the period commencing from the previous year in which the said company has become a sick industrial company under sub-section (1) of section 17 of that Act and ending with the previous year during which the entire net worth of such company becomes equal to or exceeds the accumulated losses. Explanation. - For the purposes of this clause, "net worth" shall have the meaning assigned to it in clause (ga) of sub-section (1) of section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986).'. Section 17 - Amendment Of Section 47A Section 47A of the Income-tax Act shall be renumbered as sub-section (1) thereof and after sub-section.....

Finance Act, 1997 Complete Act

State: Central

Year: 1997

.....actually paid and the subsequent previous year or years during which the licence, for which the fee is paid, shall be in force; (ii) 'appropriate fraction' means the fraction the numerator of which is one and the denominator of which is the total number of the relevant previous years; (iii) 'payment has actually been made' means the actual payment of expenditure irrespective of the previous year in which the liability for the expenditure was incurred according to the method of accounting regularly employed by the assessee. (2) Where the licence is transferred and the proceeds of the transfer (so far as they consist of capital sums) are less than the expenditure incurred remaining unallowed, a deduction equal to such expenditure remaining unallowed, as reduced by the proceeds of the transfer, shall be allowed in respect of the previous year in which the licence is transferred. (3) Where the whole or any part of the licence is transferred and the proceeds of the transfer (so far as they consist of capital sums) exceed the amount of the expenditure incurred remaining unallowed, so much of the excess as does not exceed the difference between the expenditure incurred to obtain the.....

Finance Act 1997 Section 40

Title: Insertion of New Chapter Xii-d

State: Central

Year: 1997

.....Companies - Where the principal officer of a domestic company and the company fails to pay the whole or any part of the tax on distributed profits referred to in sub-section (1) of section 115-O, within the time allowed under sub-section (3) of that section, he or it shall be liable to pay simple interest at the rate of two per cent. for every month or part thereof on the amount of such tax for the period beginning on the date immediately after the last date on which such tax was payable and ending with the date on which the tax is actually paid. 115Q. When Company Is Deemed To Be In Default. - If any principal officer of a domestic company and the company does not pay tax on distributed profits in accordance with the provisions of section 115-O, then, he or it shall be deemed to be an assessee in default in respect of the amount of tax payable by him or it and all the provisions of this Act for the collection and recovery of income-tax shall apply. Explanation. - For the purposes of this Chapter, the expression "dividends" shall have the same meaning as is given to "dividend" in clause (22) of section 2 but shall not include sub-clause (e) thereof.'

Vidarbha Irrigation Development Corporation Act, 1997 Complete Act

State: Central

Year: 1997

VIDARBHA IRRIGATION DEVELOPMENT CORPORATION ACT, 1997 VIDARBHA IRRIGATION DEVELOPMENT CORPORATION ACT, 1997 MAHARASHTRA ACT NO. XXVI OF 1997 (First published, after having received the assent of the Governor, in the "Maharashtra Government Gazette" on 28th April 1997). Amended by VI of 1999 - (23.12.1998) An Act to make special provisions for mobilisation of resources for completion of some ongoing irrigation protects in time bound manner, for promotion and operation of the said irrigation projects in Vidarbha region and command area development and schemes for generation of hydro-electric energy to harness the water of Godavari and Tapi Rivers allocated to the State of Maharashtra under the Water Disputes Tribunal Award and other allied and incidental activities including flood control by establishing the Vidarbha Irrigation Development Corporation. WHEREAS, it was expedient to make special provisions for promotion and operation of some irrigation projects in Vidarbha region, command area development and schemes for generation of hydro- electric energy to harness the water of Godavari and Tapi Rivers allocated to the State of Maharashtra under the Water Disputes.....

Karnataka Souharda Sahakari Act, 1997 Chapter II

Title: Registration

State: Karnataka

Year: 1997

.....of funds, maintenance of reserve fund, appropriation of profit. grant of loan, fixation of interest rate on deposits and advances, and such other activities as mentioned in section 6 of the Banking Regulation Act, 1949 as applicable toco-operative societies shall be subject to the provisions of the said Act, the rules, regulations or directions made or issued thereunder from time to time by the Reserve Bank or the National Bank.] ______________________________________ 1. Omitted by Act 21 of 2004 w.e.f. 31.3.2004. Section 10 - Bye--laws (1) Subject to the provisions of this Act or rules, everyCo-operative shall function in accordance with its bye-laws which as far as possible shall adhere to theCo-operative principles. (2) Thebye-laws of every Co-operative shall provide for the following matters, namely:- (i) the name, address and area of operation of theCo-operative; (ii) the objects of theCo-operative; (iii) conditions of eligibility, disqualifications for, and procedure for admission, withdrawal, removal or cessation of membership including that of the directors and office bearers; 1 ["(iiia) the rights, privileges, duties and liabilities of membership.....

Finance Act 1997 Section 32

Title: Amendment of Section 115a

State: Central

Year: 1997

In section 115A of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 1998, - (a) in clause (a), for the word "dividends", wherever it occurs, the words "dividends other than dividends referred to in section 115-O" shall be substituted; (b) in clause (b), for sub-clauses (A) and (B), the following sub-clauses shall be substituted, namely :- "(A) the amount of income-tax calculated on the income by way of royalty, if any, included in the total income, at the rate of thirty per cent. if such royalty is received in pursuance of an agreement made on or before the 31st day of May, 1997, and twenty per cent. where such royalty is received in pursuance of an agreement made after the 31st day of May, 1997; (B) the amount of income-tax calculated on the income by way of fees for technical services, if any, included in the total income, at the rate of thirty per cent. if such fees for technical services are received in pursuance of an agreement made on or before the 31st day of May, 1997, and twenty per cent. where such fees for technical services are received in pursuance of an agreement made after the 31st day of May, 1997; and".

Finance Act 1997 Section 33

Title: Amendment of Section 115ac

State: Central

Year: 1997

In section 115AC of the Income-tax Act, for the word "dividends", wherever it occurs, the words "dividends other than dividends referred to in section 115-O" shall be substituted with effect from the 1st day of April, 1998.

The Assam Nongovernment (Deficit) College Central Pension and Provident Fund Act, 1997 Complete Act

State: Assam

Year: 1997

.....(DEFICIT) COLLEGE CENTRAL PENSION AND PROVIDENT FUND ACT, 1997 THE ASSAM NON-GOVERNMENT (DEFICIT) COLLEGE CENTRAL PENSION AND PROVIDENT FUND ACT, 1997 [Act No. XVII of 1997] Published in the Assam Gazette, Extraordinary No. 132, dated the 16th May, 1997 [08th May, 1997] PREAMBLE An Act to constitute a Central Pension and Provident Fund for the employees of the Non-Government (Deficit) Colleges in Assam. Whereas it is expedient to establish and constitute a Central Pension and Provident Fund for the employees of the Non-Government Deficit Colleges in Assam to make provisions for payment of pension and other retirement benefits to the employees of the said Colleges. It is hereby enacted in the Forty-eighth year of the Republic of India as follows- STATEMENT OF OBJECT AND REASONS The Non-Government (Deficit) Colleges in Assam have been established from time to time due to demand of the situation. These Non-Government (Deficit) Colleges have also been given Government grants-in-aid with facilities for Contributory Provident Fund and Death-cum-Retirement gratuity. As there is a pressing demand from the employees (Both teaching and Non-Teaching) of the.....

The Punjab Technical University Act, 1997 Complete Act

State: Punjab

Year: 1997

.....the assent of the Governor of Punjab on the 11th January, 1997, and is hereby published for general information:- The Punjab Technical University Act, 1996 (Punjab Act No.-1 of 1997) AN ACT To provide for the establishment and incorporation of a University for the advancement of Technical Education and development thereof in the state of Punjab and for matters connected therewith. Be it enacted by the Legislature of the State of Punjab in the Forty-seventh year of the Republic of India as follows:- 1. (1) This Act may be called the Punjab Technical University Act, 1996 (2) It shall come into force at once. Short title and commencement 2. In this Act and in all regulations made hereunder, unless the context otherwise requires:- (a) "college" means a college or an institution maintained by or admitted to the privileges of the University under this Act; (b) "member" means a member of the Board of Governors established under this Act and includes its Chairman; (c) "Principal" means the Head of a College( by whatever name he may be called) and includes when there is no Principal the person for the time being duly appointed, to act as Principal, and in the absence.....

Karnataka Souharda Sahakari Act, 1997 Section 10

Title: Bye--laws

State: Karnataka

Year: 1997

Section 10 - Bye--laws (1) Subject to the provisions of this Act or rules, everyCo-operative shall function in accordance with its bye-laws which as far as possible shall adhere to theCo-operative principles. (2) Thebye-laws of every Co-operative shall provide for the following matters, namely:- (i) the name, address and area of operation of theCo-operative; (ii) the objects of theCo-operative; (iii) conditions of eligibility, disqualifications for, and procedure for admission, withdrawal, removal or cessation of membership including that of the directors and office bearers; 1 ["(iiia) the rights, privileges, duties and liabilities of membership including those of nominal and associate members"] (iv) recruitment and conditions of service of staff of theCo-operative; (v) procedure to conduct the board meetings, rights of members including the right to vote and contest for elections; (vi) the consequences of default in payment of any sum due by a member to theCo-operative; (vii) the powers and functions of the general body and the manner of election of representative general body, if any, and matters which must.....