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Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, (Central) Section 26

Title : Determination of Market Value of Land by Collector

State : Central

Year : 2013

.....may be discounted for the purposes of calculating market value. (2) The market value calculated as per sub-section (1) shall be multiplied by a factor to be specified in the First Schedule. (3) Where the market value under sub-section (1) or sub-section (2) cannot be determined for the reason that-- (a) the land is situated in such area where the transactions in land are restricted by or under any other law for the time being in force in that area; or (b) the registered sale deeds or agreements to sell as mentioned in clause (a) of sub-section (1) for similar land are not available for the immediately preceding three years; or (c) the market value has not been specified under the Indian Stamp Act, 1899 (2 of 1899) by the appropriate authority, the State Government concerned shall specify the floor price or minimum price per unit area of the said land based on the price calculated in the manner specified in sub-section (1) in respect of similar types of land situated in the immediate adjoining areas: Provided that in a case where the Requiring Body offers its shares to the owners of the lands (whose lands have been acquired) as a part compensation, for acquisition.....

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Wealth-tax Act, 1957 Schedule III

Title : Rules for Determining the Value of Assets

State : Central

Year : 1957

.....in a finished form, meant for personal adornment or for the adornment of any idol, deity or any other object of religious worship, made of, or manufactured from gold, whether or not set with stones or gems, real or artificial, or with pearls, real, cultured or imitation, or with all or any of them and includes parts, pendants or broken pieces of gold ornaments; (6) "investment company" means a company whose gross total income consists mainly of income which is chargeable to income-tax under the heads "Income from house property", "Capital gains" and "Income from other sources". Explanation. -In this clause, the expression "gross total income" shall have the meaning assigned to it in section 80B of the Income-tax Act; (7) "jewellery" includes - (a) ornaments made of gold, silver, platinum or any other precious metal or any alloy containing one or more of such precious metals, whether or not containing any precious or semi-precious stones, and whether or not worked or sewn into any wearing apparel; (b) precious or semi-precious stones, whether or not set in any furniture, utensils or other article or worked or sewn into any apparel; (8) "preference share" has the.....

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Income Tax Act, 1961 Section 115WC

Title : Value of Fringe Benefits.

State : Central

Year : 1961

.....per cent instead of twenty per cent referred to in clause (c) of sub-section (1); (c) in the case of an employer engaged in the business of manufacture or production of pharmaceuticals, the value of fringe benefits for the purposes referred to in clauses (F) and (G) of sub-section (2) of section 115WB shall be five per cent instead of twenty per cent referred to in clause (c) of sub-section (1); (d) in the case of an employer engaged in the business of manufacture or production of computer software, the value of fringe benefits for the purposes referred to in clauses (F) and (G) of sub-section (2) of section 115WB shall be five per cent instead of twenty per cent referred to in clause (c) of sub-section (1); 6[(da) in the case of an employer engaged in the business of carriage of passengers or goods by aircraft, the value of fringe benefits for the purposes referred to in clause (G) of sub-section (2) of section 115WB shall be five per cent instead of twenty per cent referred to in clause (c) of sub-section (1);] 6[(db) in the case of an employer engaged in the business of carriage of passengers or goods by ship, the value of fringe benefits for the purposes referred.....

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Karnataka Value Added Tax Act, 2003 Chapter V

Title : Administration and Collection of Tax

State : Karnataka

Year : 2003

.....not be made after the following time limits. (a) five years after the end of the prescribed tax period; or (b) three years after evidence of facts, sufficient in the opinion of the prescribed authority to justify making of the re-assessment, comes to its knowledge, whichever is later. 1[(2)If any tax is, not paid by a dealer who has failed to get registered though liable to do so or fraudulently evaded attracting punishment under-Section 79, an assessment or re-assessment may be made as if in sub-section (1) reference to five years was a reference to ten years.] (3) In computing the period of limitation specified for assessment or re-assessment, as the case may be under this Act, the period taken for disposal of any appeal against an assessment or other proceeding by the appellate authority, a tribunal or competent court shall not be taken into account in computing such period for assessment or reassessment as the case may be. __________________________ 1. Substituted by Act 6 of 2007 w.e.f. 1.4.2007. "(2) If any tax is fraudulently evaded attracting punishment under Section 79, an assessment may be made as if in sub-section (1), reference to five years was a.....

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Value Added Tax Act, 2003 Chapter 5

Title : Administration and Collection of Tax

State : Karnataka

Year : 2003

.....not be made after the following time limits.- (a) five years after the end of the prescribed tax period; or (b) three years after evidence of facts, sufficient in the opinion of the prescribed authority to justify making of the re-assessment, comes to its knowledge, whichever is later. (2) If any tax is fraudulently evaded attracting punishment under Section 79, an assessment may be made as if in sub-section (1), reference to five years was a reference to ten years. (3) In computing the period of limitation specified for assessment or re-assessment, as the case may be under this Act, the period taken for disposal of any appeal against an assessment or other proceeding by the appellate authority, a tribunal or competent court shall not be taken into account in computing such period for assessment or reassessment as the case may be. Section 41 - Power of rectification of assessment or re-assessment in certain cases (1) Where any assessment or re-assessment or an order of an appellate authority or a revisional authority other than a court or tribunal, is found to be erroneous in so far as it is prejudicial to the interest of the public revenue by a judgement or an.....

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Value Added Tax Act, 2003 Section 55

Title : Penalty in Case of Under-valuation of Goods

State : Karnataka

Year : 2003

.....in the invoice, challan, delivery note, or any other related document involves under-valuation, in the case of owner of the goods other than an owner carrying on business in packaged goods, the authority exercising the power under sub-section (1) shall apply the prevailing market price or fair market value and in the case of an owner carrying on business in packaged goods, shall apply the Maximum Retail Price. (5) Any person objecting to an order affecting him under this Section may appeal to the prescribed authority. (6) Such appeal shall be dealt with as if it were an appeal filed under Section 62 or Section 64, as the case may be, and all the provisions of those Sections shall mutatis mutandis apply to such appeal.

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Karnataka Value Added Tax Act, 2003 Section 55

Title : Penalty in Case of Under - Valuation of Goods

State : Karnataka

Year : 2003

.....the regular trade practice of the seller or any special discount or margin allowed by the seller or the goods being sold by the seller after manufacture to the trade mark or brand holder] such authority or officers, for reasons to be recorded in writing and after allowing the person or dealer a reasonable opportunity of being heard, may impose a penalty of a sum not exceeding twice the amount of the tax due on such goods. (2) The amount of tax and the penalty levied under this Section shall be recovered in the manner specified under sub-Section (14) of Section 53. (3) The value of goods in transit shall be the total price as mentioned in the invoice, challan, delivery note, or any other related document, plus the cost of transportation of the goods incurred up to the time of its interception. (4) In determining whether or not the price shown in the invoice, challan, delivery note, or any other related document involves under-valuation, in the case of owner of the goods other than an owner carrying on business in packaged goods, the authority exercising the power under sub-section (1) shall apply the prevailing market price or fair market value and in the case of an.....

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Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, (Central) Complete Act

Title : the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013

State : Central

Year : 2013

.....REHABILITATION AND RESETTLEMENT ACT, 2013 Chapter I - PRELIMINARY Section 1 - Short title, extent and commencement Section 2 - Application of Act Section 3 - Definitions Chapter II - DETERMINATION OF SOCIAL IMPACT AND PUBLIC PURPOSE Section 4 to 6 - A. Section 4 - Preparation of Social Impact Assessment study Section 5 - Public hearing for Social Impact Assessment Section 6 - Publication of Social Impact Assessment study Section 7 to 9 - B. Section 7 - Appraisal of Social Impact Assessment report by an Expert Group Section 8 - Examination of proposals for land acquisition and Social Impact Assessment report by appropriate Government Section 9 - Exemption from Social Impact Assessment Chapter III - SPECIAL PROVISION TO SAFEGUARD FOOD SECURITY Section 10 - Special provision to safeguard food security Chapter IV - NOTIFICATION AND ACQUISITION Section 11 - Publication of preliminary notification and power of officers thereupon Section 12 - Preliminary survey of land and power of officers to carry out survey Section 13 - Payment for damage Section 14 - Lapse of Social Impact Assessment report Section 15 - Hearing of objections Section 16 - Preparation of.....

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Income Tax Act, 1961 Section 50C

Title : Special Provision for Full Value of Consideration in Certain Cases

State : Central

Year : 1961

.....(2), (3), (4), (5) and (6) of section 16A, clause (f) of sub-section (1) and sub-sections (6) and (7) of section 23A, sub-section (5) of section 24, section 34AA, section 35 and section 37 of the Wealth-tax Act, 1957 (27 of 1957), shall, with necessary modifications, apply in relation to such reference as they apply in relation to a reference made by the Assessing Officer under sub-section (1) of section 16A of that Act. Explanation 3[1]: For the purposes of this section, "Valuation Officer" shall have the same meaning as in clause (r) of section 2 of the Wealth-tax Act, 1957 (27 of 1957). 4[Explanation 2.--For the purposes of this section, the expression "assessable" means the price which the stamp valuation authority would have, notwithstanding anything to the contrary contained in any other law for the time being in force, adopted or assessed, if it were referred to such authority for the purposes of the payment of stamp duty.] (3) Subject to the provisions contained in sub-section (2), where the value ascertained under sub-section (2) exceeds the value adopted 2[or assessed or assessable] by the stamp valuation authority referred to in sub-section (1), the.....

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Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, (Central) Section 29

Title : Determination of Value of Things Attached to Land or Building

State : Central

Year : 2013

(1) The Collector in determining the market value of the building and other immovable property or assets attached to the land or building which are to be acquired, use the services of a competent engineer or any other specialist in the relevant field, as may be considered necessary by him. (2) The Collector for the purpose of determining the value of trees and plants attached to the land acquired, use the services of experienced persons in the field of agriculture, forestry, horticulture, sericulture, or any other field, as may be considered necessary by him. (3) The Collector for the purpose of assessing the value of the standing crops damaged during the process of land acquisition, may use the services of experienced persons in the field of agriculture as may be considered necessary by him.

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