Bare Act Search Results

Finance Act, 1991 Part I

Title: Income-tax

State: Central

Year: 1991

.....income of the assessee for the previous year relevant to the assessment year commencing on the 1st day of April, 1992."; (B) for sub-rule (5), the following sub-rule shall be substituted, namely :- "(5) Notwithstanding anything contained in this rule, no loss which has not been determined by the Assessing Officer under the provisions of these rules or the rules contained in Part IV of the First Schedule to the Finance Act, 1983 (11 of 1983), or of the First Schedule to the Finance Act, 1984 (21 of 1984), or of the First Schedule to the Finance Act, 1985 (32 of 1985), or of the First Schedule to the Finance Act, 1986 (23 of 1986), or of the First Schedule to the Finance Act, 1987 (11 of 1987), or of the First Schedule to the Finance Act, 1988 (26 of 1988), or of the First Schedule to the Finance Act, 1989 (13 of 1989), or of the First Schedule to the Finance Act, 1990 (12 of 1990), shall be set off under sub-rule (1) or, as the case may be, sub-rule (2).".

Finance Act, 1991 Preamble 1

Title: Finance Act, 1991

State: Central

Year: 1991

THE FINANCE ACT, 1991. [Act, No. 18 of 1991] [Extract Relevant To Direct Taxes] [14th March, 1991] PREAMBLE An Act to continue for the financial year 1991-92 the existing rates of income-tax and to provide for the continuance of the provisions relating to auxiliary duties of customs and special duties of excise for the said year. BE it enacted by Parliament in the Forty-second Year of the Republic of India as follows: -

Finance Act, 1991 Complete Act

Title: Finance Act, 1991

State: Central

Year: 1991

Preamble1 - FINANCE ACT, 1991 Section1 - Short Title And Commencement Section2 - Income-Tax PartI - INCOME-TAX Section3 - Auxiliary Duties Of Customs Section4 - Special Duties Of Excise

Finance Act, 1991 Section 1

Title: Short Title and Commencement

State: Central

Year: 1991

(1) This Act may be called the Finance Act, 1991. (2) Save as otherwise provided in this Act, section 2 shall come into force on the 1st day of April, 1991.

Finance Act, 1991 Complete Act

State: Central

Year: 1991

.....the additional duty under section 3 of the Customs Tariff Act, 1975already paid on the raw material or component parts used in the production or manufacture of such goods), there shall be levied and collected a special duty of excise equal to ten per cent of the amount so chargeable on such goods. (2) Sub-section (1) shall cease to have effect after the 31st day of March 1992, and upon such cesser section 6 of the General Clauses Act 1897-, shall apply as if the said sub-section had been repealed by a Central Act. (3) The special duties of excise referred to in sub-section (1) shall be in addition to any duties of excise chargeable on such goods under the Central Excises Act or any other law for the time being in force. (4) The provisions of the Central Excises Act and the rules made thereunder, including those relating to refunds and exemptions from duties, shall, as far as may be. apply' in relation to the levy and collection of the special duties of excise leviable under this section in respect of any goods as they apply in relation to the levy and collection of the duties of excise on such goods under that Act or those rules, as the case may be. Central Bare Acts

Finance Act, 1991 Section 2

Title: Income-tax

State: Central

Year: 1991

..... (B) for the proviso, the following proviso shall be substituted, namely :- "Provided that in respect of any income chargeable to tax under section 115B or section 115BB of the Income-tax Act, - (a) the income-tax computed under section 115B shall be increased by a surcharge calculated at the rate of fifteen per cent. of such income-tax; and (b) the income-tax computed under section 115BB shall be increased, - (i) in the case of a person other than a company, being a resident in India, by a surcharge for purposes of the Union calculated at the rate of twelve per cent. of such income-tax; and (ii) in the case of a domestic company, by a surcharge calculated at the rate of fifteen per cent. of such income-tax."; (v) in sub-section (7), after the word, figures and letter "Chapter VIII-A", the words "of the said Act" shall be inserted; (vi) in sub-section (8), for the proviso, the following proviso shall be substituted, namely :- 'Provided that the amount of income-tax or "advance tax" so arrived at, as reduced by the rebate of income-tax calculated under Chapter VIII-A of the said Act, shall, in the case of every person having a total income exceeding.....

Finance Act, 1991 Section 3

Title: Auxiliary Duties of Customs

State: Central

Year: 1991

.....cease to have effect after the 31st day of March, 1992, and upon such cesser section 6 of the General Clauses Act, 1897 (10 of 1897), shall apply as if the said sub-section had been repealed by a Central Act. (3) The auxiliary duties of customs referred to in sub-section (1) shall be in addition to any duties of customs chargeable on such goods under the Customs Act or any other law for the time being in force. (4) The provisions of the Customs Act and the rules and regulations made thereunder, including those relating to refunds and exemptions from duties, shall, as far as may be, apply in relation to the levy and collection of the auxiliary duties of customs leviable under this section in respect of any goods as they apply in relation to the levy and collection of the duties of customs on such goods under that Act or those rules and regulations, as the case may be.

Finance Act, 1991 Section 4

Title: Special Duties of Excise

State: Central

Year: 1991

.....duty under section 3 of the Customs Tariff Act, 1975 (51 of 1975), already paid on the raw material or component parts used in the production or manufacture of such goods], there shall be levied and collected a special duty of excise equal to ten per cent. of the amount so chargeable on such goods. (2) Sub-section (1) shall cease to have effect after the 31st day of March, 1992, and upon such cesser section 6 of the General Clauses Act, 1897 (10 of 1897), shall apply as if the said sub-section had been repealed by a Central Act. (3) The special duties of excise referred to in sub-section (1) shall be in addition to any duties of excise chargeable on such goods under the Central Excises Act or any other law for the time being in force. (4) The provisions of the Central Excises Act and the rules made thereunder, including those relating to refunds and exemptions from duties, shall, as far as may be, apply in relation to the levy and collection of the special duties of excise leviable under this section in respect of any goods as they apply in relation to the levy and collection of the duties of excise on such goods under that Act or those rules, as the case may be.

Finance (No. 2) Act, 1991 Complete Act

State: Central

Year: 1991

FINANCE (NO. 2) ACT, 1991 FINANCE (NO. 2) ACT, 1991 49 of 1991 An Act to give effect to the financial proposals of the Central Government for the financial year 1991-92. BE it enacted by Parliament in the Forty-second Year of the Republic of India as follows : SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called the Finance (No. 2) Act, 1991. (2) Save as otherwise provided in this Act, Sections 2-to119-and125-(except Sections45-,47-.62- ,66-,67-.69-,75-,76-,78-,79-,87-,88-and120-) shall be deemed to have come into force on the 1st day of April, 1991 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, 1991, income-tax shall be charged at the rates specified in Part I of the First Schedule and such tax as reduced by the rebate of income- tax calculated under Chapter 8-A of the Income-tax Act, 1961(hereinafter referred to as the Income-tax Act) shall be increased,--- (a) in the cases to which Paragraphs A, B, C and D of that Part apply, by a surcharge for purposes of the Union; and (b) in the cases to which Paragraph E of that Part applies, by a surcharge,.....

Finance (No.2) Act, 1991 Complete Act

Title: Finance (No.2) Act, 1991

State: Central

Year: 1991

Preamble1 - FINANCE (NO.2) ACT, 1991 Chapter I Section1 - Short title and commencement Chapter II Section2 - Income-tax Chapter III Section3 to 72 - INCOME-TAX Section73 - Amendment of section 5 Section74 - Amendment of section 16 Section75 - Amendment of section 17A Section76 - Amendment of section 18B Section77 - Amendment of section 22BA Section78 - Amendment of section 22D Section79 - Amendment of section 27 Section80 - Amendment of section 34A Section81 - Amendment of section 35-I Section82 - Amendment of section 37A Section83 - Amendment of Schedule III Section84 to 90 - GIFT-TAX Section91 to 112 - INTEREST-TAX Section113 to 119 - EXPENDITURE-TAX Chapter V Section124 - Omission of Section 35 of Act 18 of 1964 Section125 - Amendment of Section 40 of Act 11 of 1983 ScheduleI - FIRST SCHEDULE