Title : Direct Taxes Income-tax
State : Central
Year : 1999
In section 2 of the Income-tax Act, - (a) in clause (1B), in sub-clause (iii), for the words "nine-tenths", the words "three-fourths" shall be substituted with effect from the 1st day of April, 2000; (b) in clause (14), after sub-clause (v), the following sub-clause shall be inserted with effect from the 1st day of April, 2000, namely :- "(vi) Gold Deposit Bonds issued under the Gold Deposit Scheme, 1999 notified by the Central Government;"; (c) after clause (19A), the following clauses shall be inserted with effect from the 1st day of April, 2000, namely :- '(19AA) "demerger", in relation to companies, means the transfer, pursuant to a scheme of arrangement under sections 391 to 394 of the Companies Act, 1956 (1 of 1956), by a demerged company of its one or more undertakings..... View Complete Act List Judgments citing this sectionTitle : Direct Taxes
State : Central
Year : 2002
Section 3 - Amendment of Section 2 In section 2 of the Income-tax Act,-- (a) in clause (24), after sub-clause (xi), the following sub-clause shall be inserted with effect from the 1st day of April, 2003, namely:-- "(xii) any sum referred to in clause (vii) of section 28;"; (b) in clause (31), after sub-clause (vii), the following Explanation shall be inserted, namely:-- "Explanation.--For the purposes of this clause, an association of persons or a body of individuals or a local authority or an artificial juridical person shall be deemed to be a person, whether or not such person or body or authority or juridical person was formed or established or incorporated with the object of deriving income, profits or gains;"; (c) in clause (37A), in sub-clause (i), for the words,..... View Complete Act List Judgments citing this sectionTitle : Direct Taxes
State : Central
Year : 2003
Section 3 - Amendment of section 2 In section 2 of the Income-tax Act,-- (a) in clause (24), in sub-clause (xii), for the word, brackets and figures "clause (vii)", the word, brackets, figure and letter "clause (va)" shall be substituted; (b) in clause (42A), in Explanation 1, in clause (i), after sub-clause (g), the following sub-clauses shall be inserted with effect from the 1st day of April, 2004, namely:-- "(h) in the case of a capital asset, being trading or clearing rights of a recognised stock exchange in India acquired by a person pursuant to demutualisation or corporatisation of the recognised stock exchange in India as referred to in clause (xiii) of section 47, there shall be included the period for which the person was a member of the recognised stock exchange in..... View Complete Act List Judgments citing this sectionTitle : Direct Taxes Income-tax
State : Central
Year : 1985
In section 2 of the Income-tax Act, in clause (18), after sub-clause (ab), the following sub-clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1984, namely :- "(ac) if it is a mutual benefit finance company, that is to say, a company which carries on, as its principal business, the business of acceptance of deposits from its members and which is declared by the Central Government under section 620A of the Companies Act, 1956 (1 of 1956), to be a Nidhi or Mutual Benefit Society; or". Section 4 - Amendment Of Section 10 In section 10 of the Income-tax Act :- (a) in clause (10B), for the portion beginning with the words "at the time of his retrenchment", and ending with the words "whichever is less", the following shall be..... View Complete Act List Judgments citing this sectionTitle : Direct Taxes
State : Central
Year : 2006
Section 3 - Amendment of section 2 In section 2 of the Income-tax Act,-- (i) in clause (24),-- (A) in sub-clause (iia),-- (a) after the words, brackets and figures "sub-clause (iv) or sub-clause (v)", the words, brackets, figures and letter "or by any university or other educational institution referred to in sub-clause (vi) or by any hospital or other institution referred to in sub-clause (via)" shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1999; (b) for the words, brackets, figures and letter "or by any university or other educational institution referred to in sub-clause (vi) or by any hospital or other institution referred to in sub-clause (via)", as so inserted by sub-item (a), the words, brackets, figures and letters..... View Complete Act List Judgments citing this sectionTitle : Direct Taxes
State : Central
Year : 2008
Section 3 - Amendment of section 2 In section 2 of the Income-tax Act,-- (a) in clause (1A), after Explanation 2, the following Explanation shall be inserted with effect from the 1st day of April, 2009, namely:-- "Explanation 3.--For the purposes of this clause, any income derived from saplings or seedlings grown in a nursery shall be deemed to be agricultural income;"; (b) for clause (15), the following clause shall be substituted with effect from the 1st day of April, 2009, namely:-- (15) charitable purpose includes relief of the poor, education, medical relief, and the advancement of any other object of general public utility: Provided that the advancement of any other object of general public utility shall not be a charitable purpose, if it involves the carrying on of..... View Complete Act List Judgments citing this sectionTitle : Direct Taxes
State : Central
Year : 1976
In the Income-tax Act, in section 2, with effect from the 1st day of June, 1976, - (a) after clause (28), the following clause shall be inserted, namely :- (28A) "interest" means interest payable in any manner in respect of any moneys borrowed or debt incurred (including a deposit, claim or other similar right or obligation) and includes any service fee or other charge in respect of the moneys borrowed or debt incurred or in respect of any credit facility which has not been utilised;; (b) in clause (37A), in sub-clause (i), - (i) for the words and figures "in a case not falling under section 164", the words, figures and letters "in a case not falling under section 115A or section 115B or section 164" shall be substituted; (ii) for the words and figures "in a case falling under..... View Complete Act List Judgments citing this sectionTitle : Direct Taxes
State : Central
Year : 2010
In section 2 of the Income-tax Act,-- (a) in clause (15), after the proviso, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2009, namely:-- "Provided further that the first proviso shall not apply if the aggregate value of the receipts from the activities referred to therein is ten lakh rupees or less in the previous year;"; (b) in clause (24), in sub-clause (xv), after the words, brackets and figures "value of property referred to in clause (vii)", the words, brackets, figures and letter "or clause (viia)" shall be inserted with effect from the 1st day of June, 2010. Section 4 - Amendment of section 9 In section 9 of the Income-tax Act, for the Explanation occurring after sub-section (2), the following..... View Complete Act List Judgments citing this sectionTitle : Direct Tax
State : Central
Year : 1993
In section 10 of the Income-tax Act, - (a) after clause (5A), the following clause shall be inserted with effect from the 1st day of April, 1994, namely :- '(5B) in the case of an individual who renders services as a technician in the employment (commencing from a date after the 31st day of March, 1993) of the Government or of a local authority or of any corporation set up under any special law or of any such institution or body established in India for carrying on scientific research as is approved for the purposes of this clause or sub-clause (viia) of clause (6) by the prescribed authority or in any business carried on in India and the individual was not resident in India in any of the four financial years immediately preceding the financial year in which he arrived in India and..... View Complete Act List Judgments citing this sectionTitle : Direct Taxes
State : Central
Year : 1978
In section 6 of the Income-tax Act, in clause (1), the following Explanation shall be inserted at the end with effect from the 1st day of April, 1979 :- Explanation : In the case of an individual, being a citizen of India, who is rendering service outside India and who is or has been in India on leave or vacation in the previous year, the provisions of sub-clauses (b) and (c) shall apply in relation to that year as if for the words "thirty days" and "sixty days", respectively occurring in the said sub-clauses, the words "ninety days" had been substituted.. Section 4 - Amendment of Section 23 In section 23 of the Income-tax Act, in the second proviso to sub-section (1) with effect from the 1st day of April, 1979, - (a) in clause (b), for the words, figures and letters "completed..... View Complete Act List Judgments citing this section