Title : Income-tax
State : Central
Year : 1968
(1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 1968, income-tax shall be charged at the rates specified in Part I of the First Schedule and, in the cases to which Paragraphs A, B, C and D of that Part apply, shall be increased by a surcharge for purposes of the Union and a special surcharge for purposes of the Union calculated in either case in the manner provided therein. (2) In making any assessment for the assessment year commencing on the 1st day of April, 1968, where the total income of a company, other than the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956), includes any profits and gains from life insurance business, the income-tax payable by it..... View Complete Act List Judgments citing this sectionState : Central
Year : 1968
FINANCE ACT, 1968 FINANCE ACT, 1968 19 of 1968 11th May, 1968 An Act to give effect to the financial proposals of the Central Government for the financial year 1968-69. Be it enacted by Parliament in the nineteenth Year of the Republic of India as follows :- SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called The Finance Act, 1968. (2) Save as otherwise provided in this Act, sections 2-to33-shall be deemed to have come into force on the 1st day of April, 1968. SECTION 02: INCOME TAX (1) Subject to the provisions of sub-sees. (2) and (3), for the assessment year commencing on the 1st day of April. 1968, income-tax shall be charged at the rates specified in Part I of the First Schedule, and, in the cases to which Paragraphs A, B, C and D of that Part apply,..... List Judgments citing this sectionTitle : Finance Act 1968
State : Central
Year : 1968
Preamble1 - FINANCE ACT 1968 Chapter I Section1 - Short Title and Commencement Chapter II Section2 - Income-Tax Section3 - Annuity Deposit Chapter III Section4 - Amendment of Section 2 Section5 - Insertion of New Sections 35B and 35C Section6 - Amendment of Section 37 Section7 - Insertion of New Section 40A Section8 - Amendment of Section 58 Section9 - Amendment of Section 80K Section10 - Amendment of Section 80M Section11 - Insertion of New Section 141A Section12 - Amendment of Section 153 Section13 - Amendment of Section 192 Section14 - Amendment of Section 194A Section15 - Amendment of Section 199 Section16 - Amendment of Section 214 Section17 - Amendment of Section 219 Section18 - Amendment of Section 239 Section19 - Amendment of Section 271 Section20 - Amendment..... List Judgments citing this sectionTitle : Second Schedule
State : Central
Year : 1968
The Second Schedule (See section 3) Rates of Annuity Deposit for the Assessment Year 1968-69 (i) In the case of any depositor whose total income does not exceed Rs. 15,000 Nil. (ii) In the case of any depositor whose total income exceeds 15,000 but does not exceed 6 per cent. of the adjusted total income: Provided that the annuity deposit to be made shall in no case exceed half the amount by which the total income exceeds Rs. 15,000. (iii) In the case of a depositor whose total income exceeds Rs. 20,000 but does not exceed Rs. 40,000 9 per cent. of the adjusted total income : Provided that the annuity deposit to be made shall in no case exceed the aggregate of the following sums, namely :- ..... View Complete Act List Judgments citing this sectionTitle : Rates of Income-tax and Annuity Deposit
State : Central
Year : 1968
(1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 1968, income-tax shall be charged at the rates specified in Part I of the First Schedule and, in the cases to which Paragraphs A, B, C and D of that Part apply, shall be increased by a surcharge for purposes of the Union and a special surcharge for purposes of the Union calculated in either case in the manner provided therein. (2) In making any assessment for the assessment year commencing on the 1st day of April, 1968, where the total income of a company, other than the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956), includes any profits and gains from life insurance business, the income-tax payable by it..... View Complete Act List Judgments citing this sectionTitle : Discontinuance of Salt Duty
State : Central
Year : 1968
For the year beginning on the 1st day of April, 1968, no duty under the Central Excises Act, or the Tariff Act shall be levied in respect of salt manufactured in, or imported into, India. View Complete Act List Judgments citing this sectionTitle : Short Title and Commencement
State : Central
Year : 1968
(1) This Act may be called the Finance Act, 1968. (2) Save as otherwise provided in this Act, sections 2 to 33 shall be deemed to have come into force on the 1st day of April, 1968. View Complete Act List Judgments citing this sectionTitle : Amendment of Act 7 of 1964
State : Central
Year : 1968
In the Companies (Profits) Surtax Act, 1964, in the Third Schedule, - (a) the figures "1", occurring before the words "On the amount by which" shall be omitted; (b) for the figures and words "35 per cent.", the figures and words "25 per cent." shall be substituted with effect from the 1st day of April, 1969. View Complete Act List Judgments citing this sectionTitle : Amendment of Act 6 of 1898
State : Central
Year : 1968
For the First Schedule to the Indian Post Office Act, 1898, the following schedule shall be substituted, namely :- View Complete Act List Judgments citing this sectionTitle : Amendment of Section 37
State : Central
Year : 1968
In section 37 of the Income-tax Act, after sub-section (2A), the following Explanation shall be inserted, namely :- Explanation : For the purposes of this sub-section, "entertainment expenditure" includes - (i) the amount of any allowance in the nature of entertainment allowance paid by the assessee to any employee or other person after the 29th day of February, 1968; (ii) the amount of any expenditure in the nature of entertainment expenditure [not being expenditure incurred out of an allowance of the nature referred to in clause (i)] incurred after the 29th day of February, 1968, for the purposes of the business or profession of the assessee by any employee or other person.. View Complete Act List Judgments citing this section