Title : Insertion of New Section 80c
State : Central
Year : 2005
After section 80B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2006, namely:-- '80C. Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund subscription to certain equity shares or debentures, etc.:-- (1) In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid or deposited in the previous year, being the aggregate of the sums referred to in sub-section (2), as does not exceed one lakh rupees. (2) The sums referred to in sub-section (1) shall be any sums paid or deposited in the previous year by the assessee-- (i) to effect or..... View Complete Act List Judgments citing this sectionTitle : Substitution of New Section for Section 80e
State : Central
Year : 2005
For section 80E of the Income-tax Act, the following section shall be substituted with effect from the 1st day of April, 2006, namely:-- '80E. Deduction in respect of interest on loan taken for higher education:-- (1) Iacn computing the total income of an assessee, being an individual, there shall be deducted, in accordance with and subject to the provisions of this section, any amount paid by him in the previous year, out of his income chargeable to tax, by way of interest on loan taken by him from any financial institution or any approved charitable institution for the purpose of pursuing his higher education. (2) The deduction specified in sub-section (1) shall be allowed in computing the total income in respect of the initial assessment year and seven assessment years..... View Complete Act List Judgments citing this sectionTitle : Definitions
State : Central
Year : 2005
In this Act, and in all Statutes made hereunder, unless the context otherwise requires,-- (a) "Academic Council" means the Academic Council of the University; (b) academic staff means such categories of staff as are designated as academic staff by the Ordinances; (c) "Affiliated College" means a college admitted to the privileges of the University; (d) "Board of Studies" means the Board of Studies of the University; (e) "Chancellor", "Vice-Chancellor" and "Pro-Vice-Chancellor" mean, respectively, the Chancellor, Vice-Chancellor and Pro-Vice-Chancellor of the University; (f) "College Development Council" means the College Development Council of the University; (g) "Constituent College" means a college maintained by the University; (h) "Court" means the Court of the..... View Complete Act List Judgments citing this sectionTitle : Amendment of Act 32 of 1994
State : Central
Year : 2005
In the Finance Act, 1994,-- (a) in section 65, with effect from such date as the Central Government may, by notification in the Official Gazette, appoint,-- (i) in clause (9), for the words "service or repair", the words "service, repair, reconditioning or restoration" shall be substituted; (ii) in clause (15), for the words "collecting the broadcasting charges on behalf of the said agency", the words "collecting the broadcasting charges or permitting the rights to receive any form of communication like sign, signal, writing, picture, image and sounds of all kinds by transmission of electro-magnetic waves through space or through cables, direct to home signals or by any other means to cable operator including multi system operator or any other person on behalf of the said agency"..... View Complete Act List Judgments citing this sectionTitle : Act in Addition to Other Laws
State : Central
Year : 2005
Save as otherwise expressly provided in this Act, the provisions of this Act shall be in addition to any other relevant Act for the time being in force in relation to any matter covered under this Act. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 6
State : Central
Year : 2005
In section 6 of the Sree Chitra Tirunal Institute for Medical Sciences and Technology, Trivandrum Act, 1980(52 of 1980), in sub-section (2), the following words shall be added at the end, namely:-- "or he becomes Speaker or Deputy Speaker of the House of the People, or Deputy Chairman of the Council of States, or a Minister." View Complete Act List Judgments citing this sectionTitle : Amendment of Section 10
State : Central
Year : 2005
In section 10 of the Income-tax Act, 1961(43 of 1961) (hereafter in this Chapter referred to as the Income-tax Act), with effect from the 1st day of April, 2006,-- (a) in clause (6BB), for the words, figures and letters "or entered into after the 30th day of September, 2005 and approved by the Central Government in this behalf, the words, figures and letters "or entered into after the 31st day of March, 2006 and approved by the Central Government in this behalf shall be substituted; (b) in clause (15A), in the proviso, for the words, figures and letters "the 1st day of October, 2005", the words, figures and letters "the 1st day of April, 2006" shall be substituted; (c) after clause (38), the following clauses shall be inserted, namely:-- '(39) any specified income, arising from..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 43
State : Central
Year : 2005
In section 43 of the Income-tax Act, in clause (5), with effect from the 1st day of April, 2006,-- (A) in the proviso,- (i) in clause (c), the word "or" shall be inserted at the end; (ii) after clause (c), as so amended, the following clause shall be inserted, namely:- "(d) an eligible transaction in respect of trading in derivatives referred to in clause (aa) of section 2 of the Securities Contracts (Regulation) Act, 1956(42 of 1956) carried out in a recognised stock exchange;"; (B) after the proviso, the following Explanation shall be inserted, namely:- 'Explanation.-For the purposes of this clause, the expressions-- (i) "eligible transaction" means any transaction,- (A) carried out electronically on screen-based systems through a stock broker or sub-broker or such..... View Complete Act List Judgments citing this sectionTitle : Insertion of New Section 72aa
State : Central
Year : 2005
After section 72A of the Income-tax Act, the following section shall be inserted, namely:- '72AA. Provisions relating to carry forward and set-off of accumulated loss and unabsorbed depreciation allowance in scheme of amalgamation of banking company in certain cases -- Notwithstanding anything contained in sub-clauses (i) to (iii) of clause (1B) of section 2 or section 72A, where there has been an amalgamation of a banking company with any other banking institution under a scheme sanctioned and brought into force by the Central Government under subsection (7) of section 45 of the Banking Regulation Act, 1949(10 of 1949), the accumulated loss and the unabsorbed depreciation of such banking company shall be deemed to be the loss or, as the case may be, allowance for depreciation of such..... View Complete Act List Judgments citing this sectionTitle : Insertion of New Section 8b in Act 2 of 1899
State : Central
Year : 2005
After section 8A of the Indian Stamp Act, 1899, the following section shall be inserted, namely:-- '8B. Corporatisation and demutualisation schemes and related instruments not liable to duty:-- Notwithstanding anything contained in this Act or any other law for the time being in force,-- (a) a scheme for corporatisation or demutualisation, or both of a recognised sk exchange; or (b) any instrument, including an instrument of, or relating to, transfer of any property, business, asset whether movable or immovable, contract, right, liability and obligation, for the purpose of, or in connection with, the corporatisation or demutualisation, or both of a recognised sk exchange pursuant to a scheme, as approved by the Securities and Exchange Board of India under sub-section (2) of..... View Complete Act List Judgments citing this section