State : Central
Year : 1970
FINANCE ACT, 1970 FINANCE ACT, 1970 19 of 1970 14th May, 1970 An Act to give effect to the financial proposals of the Central Government for the financial year 1970-71. Be it enacted by Parliament in the Twenty-first Year of the Republic of India as follows :- SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called The Finance Act, 1970. (2) Save as otherwise provided in this Act, sections 2 to27 -(both inclusive) and sections 38 and 39 shall be deemed to have come into force on the 1st day of April, 1970. SECTION 02: INCOME-TAX (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of' April, 1970, income-tax shall be charged at the rates specified in Part I of the First Schedule and, in the..... List Judgments citing this sectionTitle : Finance Act 1970
State : Central
Year : 1970
Preamble1 - FINANCE ACT, 1970 Chapter I Section1 - Short title and commencement Chapter II Section2 - Income-Tax Chapter III Section3 - Amendment of Section 2 Section4 - Amendment of Section 10 Section5 - Amendment of Section 11 Section6 - Substitution of New Section for Section 13 Section7 - Amendment of Section 16 Section8 - Amendment of Section 35B Section9 - Amendment of Section 36 Section10 - Amendment of Section 37 Section11 - Amendment of chapter iv-e relating to capital gains Section12 - Amendment of Section 80-C Section13 - Amendment of Section 80-G Section14 - Substitution of New Section For Section 80-L Section15 - Amendment of Section 80M Section16 - Amendment of Section 80MM Section17 - Amendment of Section 116 Section18 - Amendment of Section 117 Section19..... List Judgments citing this sectionTitle : Amendment of Act 27 of 1957
State : Central
Year : 1970
In the Wealth-tax Act, 1957, - (a) in section 2, to sub-clause (2) of clause (e), the following proviso shall be added and shall be deemed to have been added with effect from the 1st day of April, 1969, namely :- "Provided that, in relation to the State of Jammu and Kashmir, this sub-clause shall have effect subject to the modification that for the assets specified in items (i) to (iii) of this sub-clause, the assets specified in items (i) to (v) of sub-clause (1) shall be substituted and the other provisions of this Act shall be construed accordingly;"; (b) in section 5, - (i) in sub-section (1), - (1) for the words "Wealth-tax shall not be payable by an assessee in respect of the following assets", the words, brackets, figure and letter "Subject to the provisions of..... View Complete Act List Judgments citing this sectionTitle : Discontinuance of Salt Duty
State : Central
Year : 1970
For the year beginning on the 1st day of April, 1970, 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 : 1970
(1) This Act may be called the Finance Act, 1970. (2) Save as otherwise provided in this Act, Sections 2 to 27 (both inclusive) and Sections 38 and 39 shall be deemed to have come into force on the 1st day of April, 1970. View Complete Act List Judgments citing this sectionTitle : Amendment of Act 58 of 1957
State : Central
Year : 1970
In the First Schedule to the Additional Duties of Excise (Goods of Special Importance) Act, 1957, - (i) in Item No. 1, for the entry in the third column, the entry "Seven and a half per cent. ad valorem." shall be substituted; (ii) in Item No. 19, in sub-item I(1), after the word "lappet", the words "butta fabrics, round mesh mosquito netting," shall be inserted; (iii) in Item No. 22, for the entry in the third column against sub-item (1), the entry "Two and a half per cent. ad valorem." shall be substituted. View Complete Act List Judgments citing this sectionTitle : Amendment of Act 6 of 1898
State : Central
Year : 1970
In the First Schedule to the Indian Post Office Act, 1898, - (a) for the sub-heading "Book, Pattern and Sample packets" and the entries thereunder, the following shall be substituted, namely :- "Book, Pattern and Sample packets For the first fifty grams or fraction thereof 20 paise; For every additional twenty-five grams, or fraction thereof, in excess of fifty grams 10 paise"; (b) for the sub-heading "Parcels" and the entries thereunder, the following shall be substituted, namely :- "Parcels" For a weight not exceeding four hundred grams 90 paise; For every four hundred grams, or fraction thereof, exceeding four hundred grams 90 paise"...... View Complete Act List Judgments citing this sectionTitle : Amendment of Act 18 of 1958
State : Central
Year : 1970
In the Gift-tax Act, 1958, - (a) in sub-section (2) of section 5, for the words "ten thousand", the words "five thousand" shall be substituted with effect from the 1st day of April, 1971; (b) section 11A shall be re-numbered as section 11AA, and before the section as so re-numbered, the following section shall be inserted, namely :- "11A. Commissioner competent to perform any function or functions. - In respect of any function to be performed by a Commissioner under any provision of this Act, in relation to an assessee, the Commissioner referred to therein shall, - (a) in a case where only one Commissioner has jurisdiction over such assessee, be such Commissioner; (b) in a case where two or more Commissioners have concurrent jurisdiction over such assessee, be the Commissioner..... View Complete Act List Judgments citing this sectionTitle : Amendment of Act 32 of 1934
State : Central
Year : 1970
The Indian Tariff Act, 1934 (hereinafter referred to as the Tariff Act), shall be amended in the manner specified in the Second Schedule. View Complete Act List Judgments citing this sectionTitle : Amendment of Act 1 of 1949
State : Central
Year : 1970
In the Indian Tariff (Amendment) Act, 1949, in sections 4 and 5, for the figures "1970" the figures "1971" shall be substituted. View Complete Act List Judgments citing this section