Title : Preliminary
State : Central
Year : 2007
(1) This Act may be called the Finance Act, 2007. (2) Save as otherwise provided in this Act, sections 2 to 93 shall be deemed to have come into force on the 1st day of April, 2007. View Complete Act List Judgments citing this sectionTitle : Direct Taxes
State : Central
Year : 2007
In section 2 of the Income-tax Act,-- (a) after clause (1B), the following clauses shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 1994, namely:-- '(1C) "Additional Commissioner" means a person appointed to be an Additional Commissioner of Income-tax under sub-section (1) of section 117; (1D) "Additional Director" means a person appointed to be an Additional Director of Income-tax under sub-section (1) of section 117;'; (b) in clause (7A),-- (i) after the words "any other provision of this Act, and the", the words "Additional Commissioner or" shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 1994; (ii) after the words "Additional Commissioner or", as so inserted, the words..... View Complete Act List Judgments citing this sectionTitle : Service Tax
State : Central
Year : 2007
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, appoint1,-- (1) in clause (12),-- (a) in sub-clause (a),-- (i) for the words "or any other person", the words "or commercial concern" shall be substituted; (ii) in item (i), the following Explanation shall be inserted at the end, namely:-- 'Explanation.--For the purposes of this item, "financial leasing" means a lease transaction where-- (i) contract for lease is entered into between two parties for leasing of a specific asset; (ii) such contract is for use and occupation of the asset by the lessee; (iii) the lease payment is calculated so as to cover the full cost of the asset together with the interest charges; and (iv)..... View Complete Act List Judgments citing this sectionTitle : Secondary and Higher Education Cess
State : Central
Year : 2007
(1) Without prejudice to the provisions of sub-section (12) of section 2, there shall be levied and collected, in accordance with the provisions of this Chapter as surcharge for purposes of the Union, a cess to be called the Secondary and Higher Education Cess, to fulfil the commitment of the Government to provide and finance secondary and higher education. (2) The Central Government may, after due appropriation made by Parliament by law in this behalf, utilise, such sums of money of the Secondary and Higher Education Cess levied under sub-section (12) of section 2 and this Chapter for the purposes specified in sub-section (1) as it may consider necessary. Section 137 - Definition The words and expressions used in this Chapter and defined in the Central Excise Act, 1944(1 of..... View Complete Act List Judgments citing this sectionTitle : Rates of Income-tax
State : Central
Year : 2007
(1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2007, 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 VIII-A of the Income-tax Act, 1961(43 of 1961) (hereinafter referred to as the Income-tax Act) shall be increased by a surcharge for purposes of the Union calculated in each case in the manner provided therein. (2) In the cases to which Paragraph A of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income exceeding five thousand rupees, in addition to total income, and the total income exceeds one lakh rupees, then,-- (a) the net agricultural..... View Complete Act List Judgments citing this sectionTitle : Indirecttaxes
State : Central
Year : 2007
In section 2 of the Customs Act, 1962(52 of 1962) (hereinafter referred to as the Customs Act), in clause (41), for the words, brackets and figures "sub-section (1) of section 14", the words, brackets and figures "sub-section (1) or sub-section (2) of section 14" shall be substituted with effect from such date1 as the Central Government may, by notification in the Official Gazette, appoint. __________________________________ 1. w.e.f. from 10.10.2007, as per notification No. 93/2007-Customs (N.T.) dated 13.09.2007 Section 95 - Substitution of new section for section 14 For section 14 of the Customs Act, the following section shall be substituted with effect from such date1 as the Central Government may, by notification in the Official Gazette, appoint, namely:-- '14. Valuation..... View Complete Act List Judgments citing this sectionTitle : Miscellaneous
State : Central
Year : 2007
In the Central Sales Tax Act, 1956, in section 14, for clause (iid), the following clause shall be substituted, namely:-- '(iid) Aviation Turbine Fuel sold to an aircraft with a maximum take-off mass of less than forty thousand kilograms operated by scheduled airlines. Explanation.--For the purposes of this clause, "scheduled airlines" means the airlines which have been permitted by the Central Government to operate any Scheduled air transport service.'. Section 143 - Amendment of First Schedule to Act 58 of 1957 In the Additional Duties of Excise (Goods of Special Importance) Act, 1957, the First Schedule shall be amended in the manner specified in the Sixth Schedule. Section 144 - Amendment of section 94 of Act 18 of 2005 In Chapter VII of the Finance Act, 2005, in section..... View Complete Act List Judgments citing this sectionState : Central
Year : 2007
FINANCE ACT, 2007 FINANCE ACT, 2007 22 of 2007 PREAMBLE An Act to give effect to the financial proposals of the Central Government for the financial year 2007-2008. BE it enacted by Parliament in the Fifty-eighth Year of the Republic of India as follows- CHAPTER 1: PRELIMINARY: SECTION 1: Short title and commencement: (1) This Act may be called the Finance Act, 2007. (2) Save as otherwise provided in this Act, sections 2 to 93 shall be deemed to have come into force on the 1st day of April, 2007. CHAPTER 2: RATES OF INCOME-TAX: SECTION 2: Income-tax: (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2007, income-tax shall be charged at the rates specified in Part I of the First Schedule and..... List Judgments citing this sectionTitle : Preliminary
State : Maharashtra
Year : 2007
Chapter I PRELIMINARY View Complete Act List Judgments citing this sectionTitle : Finance Act, 2007
State : Central
Year : 2007
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