Bare Act Search Results

Expenditure-tax Act, 1987 Section 7

Title: Collection and Recovery of Expenditure-tax

State: Central

Year: 1987

.....of theCentral Government in accordance with the provisions of sub-section (3).] ___________________________ 1. Substituted by Finance (No. 2) Act (Act 49 of1991) w.e.f. 01.10.1991. Prior to substitution, section 7 read as under: "7. Collection and recovery of expenditure-tax. (1) Where any chargeableexpenditure is incurred in a hotel to which this Act applies, -- ifsuch expenditure relates to any of the services, specified in clauses (a) to (d)of section 5, provided by the hotel, the person who carries on the businessof such hotel; and ifsuch expenditure relates to any of the services, specified in clause (b) orclause (d) of section 5, provided by the other person referred to therein, suchother person, shall collect the expenditure-tax at the rate specified in section4. (2)The tax collected during any calendar month in accordance with the provisions ofsubsection (1) shall be paid to the credit of the Central Government by the10th day of the month immediately following the said calendar month. (3)Any person responsible for collecting the tax who fails to collect the tax inaccordance with the provisions of sub-section (1) shall, notwithstanding suchfailure, be.....

Expenditure-tax Act, 1987 Section 17

Title: Penalty for Concealment of Chargeable Expenditure

State: Central

Year: 1987

.....particulars of such chargeable expenditure : PROVIDED that if the amount of chargeable expenditure (as determined by the1[Assessing Officer] on assessment) in respect of which particulars have been concealed or inaccurate particulars have been furnished exceeds a sum of twenty-five thousand rupees, the1[Assessing Officer] shall not issue any direction for payment by way of penalty without the previous approval of the2[Additional Commissioner or, as the case may be, of the] Deputy Commissioner. ____________________________ 1. Substituted for the words "Income-tax Officer" by Finance Act (Act 26 of 1988) w.e.f 01.04.1988. 2. Substituted for the words "Deputy Commissioner" by the Finance Act (Act 32 of 1994) w.e.f. 01.06.1994.

Expenditure-tax Act, 1987 Section 15

Title: Penalty for Failure to Collect or Pay Expenditure-tax

State: Central

Year: 1987

.....collect or pay expenditure-tax Any person responsible for collecting expenditure-tax in accordance with the provisions of sub-section (1) or sub-section (2) of section 7, who- (a) fails to collect such tax; or (b) having collected the tax, fails to pay such tax to the credit of the Central Government in accordance with the provisions of sub-section (3) of that section, shall pay,- (i) in the case referred to in clause (a), in addition to paying tax in accordance with the provisions of sub-section (4) of that section, by way of penalty, a sum equal to the amount of tax that he failed to collect; and (ii) in the case referred to in clause (b), in addition to paying interest in accordance with the provisions of section 14, by way of penalty, a sum which shall not be less than one hundred rupees, but which may extend to two hundred rupees for every day during which the failure continues, so, however, that the penalty under this clause shall not exceed the amount of tax that he failed to pay.] _____________________________ 1. Substituted by the Finance (No. 2) Act, 1991, w.e.f. 1-10-1991. Prior to substitution, section 15 read as under: "15. Penalty for failure to.....

Expenditure-tax Act, 1987 Section 11

Title: Chargeable Expenditure Escaping Assessment

State: Central

Year: 1987

.....or failure on the part of the assessee to make a return under section 8 for any assessment year or to disclose wholly and truly all material facts necessary for his assessment for any assessment year, chargeable expenditure for that year has escaped assessment or has been under-assessed, or (b) notwithstanding that there has been no omission or failure as mentioned in clause (a) on the part of the assessee, the1[Assessing Officer] has, inconsequence of information in his possession, reason to believe that chargeable expenditure assessable in any assessment year has escaped assessment or has been under-assessed, he may, in cases falling under clause (a), at any time, and in cases falling under clause (b), at anytime within four years from the end of that assessment year, serve on the assessee a notice containing all or any of the requirements which may be included in a notice under section 8-andmay proceed to assess or reassess the chargeable expenditure, and the provisions of this Act shall, so far as may be, apply, as if the notice was a notice issued under that section. ___________________________ 1. Substituted for the words "Income-tax Officer" by Finance Act.....

Bombay Charged Expenditure Act 1957, (Maharashtra) Preamble

Title: the Bombay Charged Expenditure Act 1957

State: Maharashtra

Year: 1957

THE BOMBAY CHARGED EXPENDITURE ACT 1957 [Act No. 5 of 1957]1 [20th March, 1957] PREAMBLE An Act to provide that certain expenditure shall be charged on the Consolidated Fund of the State. WHEREAS it is expedient to declare certain expenditure to be charged on the Consolidated Fund of the State, and for that purpose repeal and enact afresh certain provisions relating thereto in certain enactments; It is hereby enacted in the Eighth Year of the Republic of India as follows :- __________________ 1. For Statement of Objects and Reasons, see Bombay Government Gazette, 1957, Part V, p. 6.

Expenditure-tax Act, 1987 Preamble 1

Title: Expenditure-tax Act, 1987

State: Central

Year: 1987

EXPENDITURE-TAX ACT, 1987 [Act, No. 35 of 1987] [14th September, 1987] PREAMBLE An Act to provide for the levy of a tax on expenditure incurred in certain hotels1[or restaurants and for matters connected therewith or incidental thereto.] BE it enacted by Parliament in the Thirty-eighth Year of the Republic of India as follows: - __________________________ 1. Inserted by Finance (No. 2) Act (Act 49 of 1991) w.e.f. 01.10.1991.

Expenditure-tax Act, 1987 Section 4

Title: Charge of Expenditure-tax

State: Central

Year: 1987

.....(43 of 1961) during the period beginning on the 1st day of April, 1998 andending on the 31st day of March, 2008;] (b)the 1st day of October, 1991 6 [but not after the 31st day of May, 1992],a tax atthe rate of fifteen per cent of the chargeable expenditure incurred in arestaurant referred to in clause (2) of section 3. ___________________________ 1. Inserted by the Finance Act, 2003w.e.f.01.04.2003. 2. Substituted for the words "twenty percent" by the Finance Act (Act 32 of 1994) w.e.f. 01.06.1994. 3. Substituted for "clause (ii) of sub-section(5) of section 80-IA" by the Finance Act, 1999, w.e.f. 01.04.2000. 4.Inserted by the Finance Act, 1997, w.e.f. 01.04.1998. 5.Substituted for "clause (iia) of sub-section (5) of section 80-IA" by theFinance Act, 1999, w.e.f. 01.04.2000. 6. Inserted by Finance Act (Act 18 of 1992)w.e.f.01.06.1992.

Bombay Charged Expenditure Act 1957, (Maharashtra) Section 2

Title: Repeals and Enactment Providing for Charging Certain Expenditure on the Consolidated Fund of the State

State: Maharashtra

Year: 1957

(1) In the Schedule the provisions mentioned in column 2 thereof the enactments set out in column 1, shall with effect from the 1st day of November, 1956 be deemed to have been repealed, and with effect from that date the provisions in column 3 of the Schedule shall be deemed to have been inserted in their place. (2) The Bombay Charged Expenditure Act, 1950 and the Madhya Pradesh Consolidated Fund (Charged Expenditure) Act, 1950, are repealed.

Expenditure-tax Act, 1987 Section 14

Title: Interest on Delayed Payment of Expenditure-tax

State: Central

Year: 1987

Every person responsible for collecting expenditure-tax and paying it to the credit of the Central Government in accordance with the provisions of section 7, who fails to credit the tax to the account of the Central Government within the period specified in that section, shall pay simple interest at the rate of one and1[one] percent for every month or part of a month by which such crediting of tax is delayed. ____________________________ 1. Substituted for "one and one-fourth" by The Taxation Laws (Amendment) Act, 2003 (54 of 2003) w.e.f 08.09.2003

Expenditure Tax Act, 1987 Complete Act

State: Central

Year: 1987

.....but not defined and defined in the Income-tax Act shall have the meanings respectively assigned to them in that Act. SECTION 3: Application of the Act: This Act shall apply in relation to any chargeable expenditure- (1) [incurred before the 1st day of June, 2003 in a hotel wherein the room charges for any unit of residential accommodation at the time of incurring of such expenditure are ["three thousand rupees or more per day"] and where.- (a) a composite charge is payable in respect of such unit and food, the room charges included therein shall be determined in the prescribed manner; (b) (i) a composite charge is payable in respect of such unit, for drinks and other services, or any of them, and the case is not covered by the provisions of sub-clause (a), or (ii) it appears to the Assessing Officer that the charges for such unit, food, drinks or other services are so arranged that the room charges are understated and the other charges are overstated, the Assessing Officer shall, for the purposes of this clause determine the room charges on such reasonable basis as he may deem fit: and (2) incurred in a restaurant [before the 1st day of June, 1992.]] SECTION 4: Charge of.....