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Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Act, 1988 Preamble 1

Title: Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Act, 1988

State: Central

Year: 1988

THE LABOUR LAWS (EXEMPTION FROM FURNISHING RETURNS AND MAINTAINING REGISTERS BY CERTAIN ESTABLISHMENTS) ACT, 1988 [Act, No. 51 of 1988] [24th September, 1988] PREAMBLE An Act to provide for the exemption of employers in relation to establishments employing a small number of persons from furnishing returns and maintaining registers under certain labour laws. BE it enacted by Parliament in the Thirty-ninth Year of the Republic of India as follows :--

Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Act, 1988 Complete Act

Title: Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Act, 1988

State: Central

Year: 1988

Preamble1 - LABOUR LAWS (EXEMPTION FROM FURNISHING RETURNS AND MAINTAINING REGISTERS BY CERTAIN ESTABLISHMENTS) ACT, 1988 Section1 - Short title, extend and commencement Section2 - Definitions Section3 - Amendment of certificate labour laws Section4 - Exemption from returns and registered required under certain labour laws Section5 - Savings Section6 - Penalty Section7 - Power to amend Form Section8 - Power to remove difficulties ScheduleI - FIRST SCHEDULE ScheduleII - SECOND SCHEDULE

Income Tax Act, 1961 Section 271

Title: Failure to Furnish Returns, Comply with Notices, Concealment of Income, Etc.

State: Central

Year: 1961

..... (a) [Omitted by the Direct Tax Laws (Amendment) Act, 1989, with effect from 1st April, 1989], (b) has failed to comply with a notice 3[under sub-section (2) of section 115WD or under sub-section (2) of section 115WE or under sub-section (1) of section 142] or sub-section (2) of section 143 or fails to comply with a direction issued under sub-section (2A) of section 142, or (c) has concealed the particulars of his income or furnished inaccurate particulars of such 4[income, or], 5[(d) has concealed the particulars of the fringe benefits or furnished inaccurate particulars of such fringe benefits,] he may direct that such person shall pay by way of penalty, (i) [Omitted by the Direct Tax Laws (Amendment) Act, 1989, with effect from 1st April, 1989] ; (ii) in the cases referred to in clause (b), 6[in addition to tax, if any, payable] by him, 7[a sum of ten thousand rupees] for each such failure ; (iii) in the cases referred to in 8[clause (c) or clause (d)], 6[in addition to tax, if any, payable] by him, a sum which shall not be less than, but which shall not exceed three times, the amount of tax sought to be evaded by reason of the concealment of particulars of.....

Wealth-tax Act, 1957 Section 18

Title: Penalty for Failure to Furnish Returns, to Comply with Notices and Concealment of Assets, Etc.

State: Central

Year: 1957

.....under this Act is satisfied that any person - 6 (a)[*****] (b) has 7 [*****] failed to comply with a notice under sub-section(2) or sub-section (4) of section 16; or (c) has concealed the particulars of any assets or furnished inaccurate particulars of any assets or debts; he or it may, by order in writing, direct that such person shall pay by way of penalty- (i)8 [*****] 9 [(ii) in the cases referred to in clause (b), in addition to the amount of wealth-tax payable by him, a sum which shall not be less than one thousand rupees but which may extend to twenty-five thousand rupees for each such failure;] (iii) in the cases referred to in clause (c), in addition to any wealth-tax payable by him, a sum which shall not be less than, but which shall not exceed five times, the amount of tax sought to be evaded by reason of the concealment of particulars of any assets or the furnishing of inaccurate particulars in respect of any assets or debts: 10 [Provided that in the cases referred to in clause (b), no penalty shall be imposable if the person proves that there was a reasonable cause for the failure referred to in that clause.] Explanation1. -For the.....

The Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Act, 1988 Complete Act

State: Central

Year: 1988

.....or other establishment" as defined in Sec. 2 of the Payment of Wages Act, 1936 (4 of 1936) ; (ii) a "factory" as defined in Sec. 2 of the Factories Act, 1948 ( 63 of 1948); (iii) a factory, workshop or place where employees are employed or work is given out to workers, in any scheduled employment to which the minimum wages Act, 1948 (11 of 1948), applies. (iv) a "plantation" as defined in Sec. 2 of the Plantations Labour Act, 1951 (69 of 1951) ; and (v) a "newspaper establishment" as defined in Sec. 2 of the Working Journalists and other Newspaper Employees (conditions of Service) and Miscellaneous Provisions Act, 1955 (45 of 1955) ; (c) "Form" means a Form specified in the Second Schedule; (d) "Scheduled Act" means an Act specified in the first Schedule and is in force on commencement of this Act in the territories to which such Act extends generally, and includes the rules made there under ; (e) "small establishment" means an establishment in which not less than ten and not more than nineteen persons are employed or were employed on any day of the preceding twelve months; (f) "very small establishment" means an establishment in which.....

The Labour Laws (Exemption from Furnishing Returns and Maintaining Registers by Certain Establishments) Act, 1988 Complete Act

State: Kerala

Year: 1988

.....or other establishment" as defined in Sec. 2 of the Payment of Wages Act, 1936 (4 of 1936) ; (ii) a "factory" as defined in Sec. 2 of the Factories Act, 1948 ( 63 of 1948); (iii) a factory, workshop or place where employees are employed or work is given out to workers, in any scheduled employment to which the minimum wages Act, 1948 (11 of 1948), applies. (iv) a "plantation" as defined in Sec. 2 of the Plantations Labour Act, 1951 (69 of 1951) ; and (v) a "newspaper establishment" as defined in Sec. 2 of the Working Journalists and other Newspaper Employees (conditions of Service) and Miscellaneous Provisions Act, 1955 (45 of 1955) ; (c) "Form" means a Form specified in the Second Schedule; (d) "Scheduled Act" means an Act specified in the first Schedule and is in force on commencement of this Act in the territories to which such Act extends generally, and includes the rules made thereunder ; (e) "small establishment" means an establishment in which not less than ten and not more than nineteen persons are employed or were employed on any day of the preceding twelve months; (f) "very small establishment" means an establishment in which not more than nine.....

Gift-tax Act, 1958 [Cease to Have Effect on or After the 01.10.1998] Section 16B

Title: Interest for Defaults in Furnishing Return of Gifts

State: Central

Year: 1958

1[16B. Interest for defaults in furnishing return of gifts (1) Where a return of gifts for any assessment year under sub-section (I) of section 13 or section 14, or in response to a notice under clause (i) of sub-section (4) of section 15, is furnished after the 30th day of June of such year, or is not furnished, the assessee shall be liable to pay simple interest at the rate of two percent, for every month or part of a month comprised in the period commencing on the 1st day of July of the assessment year, and,-- (a) where the return is furnished after the 30th day of June ending on the date of furnishing of the return; or (b) where no return has been furnished, ending on the date of completion of the assessment under sub-section (5) of section 15, on the amount of tax payable on the taxable gifts as determined2[under sub-section (1) of section 15 or] on regular assessment. 3[Explanation I.-In this sub-section, "tax payable on the taxable gifts as determined under sub-section (1) of section 15" shall not include the additional gift-tax, if any payable under section 15.] Explanation 2.-- Where in relation to an assessment year the assessment is made for the first time.....

Wealth-tax Act, 1957 Section 17B

Title: Interest for Defaults in Furnishing Return of Net Wealth

State: Central

Year: 1957

.....section 16 or]on the basis of the earlier assessment aforesaid. 8 [*****] (4)Where, as a result of an order under section 23or section 24or section25or section 27or section 29or section 35or any order of the Wealth-tax Settlement Commissioner under sub-section (4)of section 22D,the amount of tax on which interest was payable under this section has beenincreased or reduced, as the case may be, the interest shall be increased orreduced accordingly, and, - (i) in a case where the interest is increased,the Assessing Officer shall serve on the assessee a notice of demand in theprescribed form specifying the sum payable, and such notice of demand shall bedeemed to be a notice under section 30and the provisions of this Act shall apply accordingly, and (ii)in a case where the interest is reduced, the excess interest paid, if any, shallbe refunded. (5)The provisions of this section shall apply in respect of assessments for theassessment year commencing on the 1stday of April, 1989and subsequent assessment years.] ___________________________ 1.Inserted by Act 4 of 1988, Section 141 w.e.f. 1-4-1989. 2.Substitutedfor "one and one-fourth" by TheTaxation Laws (Amendment).....

Income Tax Act, 1961 Section 234A

Title: Interest for Defaults in Furnishing Return of Income

State: Central

Year: 1961

(1) Where the return of income for any assessment year under sub-section (1) or sub-section (4) of section 139, or in response to a notice under sub-section (1) of section 142, is furnished after the due date, or is not furnished, the assessee shall be liable to pay simple interest at the rate of 1[one per cent] for every month or part of a month comprised in the period commencing on the date immediately following the due date, and, (a) where the return is furnished after the due date, ending on the date of furnishing of the return ; or (b) where no return has been furnished, ending on the date of completion of the assessment under section 144, 2[on the amount of the tax on the total income as determined under sub-section (1) of section 143, and where a regular assessment is made, on the amount of the tax on the total income determined under regular assessment, as reduced by the amount of, (i) advance tax, if any, paid; (ii) any tax deducted or collected at source; (iii) any relief of tax allowed under section 90 on account of tax paid in a country outside India; (iv) any relief of tax allowed under section 90A on account of tax paid in a specified territory.....

Income Tax Act, 1961 Section 285BA

Title: Obligation to Furnish Annual Information Return

State: Central

Year: 1961

.....of India, constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934); or (j) a depository referred to in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996), who is responsible for registering, or maintaining books of account or other documents containing a record of any specified financial transaction, under any law for the time being in force, shall furnish an annual information return, in respect of such specified3 financial transaction which is registered or recorded by him during any financial year beginning on or after the 1st day of April, 2004 and information relating to which is relevant and required for the purposes of this Act, to the prescribed4 income-tax authority or such other authority or agency as may be prescribed4. (2) The annual information return referred to in sub-section (1) shall be furnished within the prescribed5 time after the end of such financial year, in such form and manner (including on a floppy, diskette, magnetic cartridge tape, CD-ROM or any computer readable media) as may be prescribed6. (3) For the purposes of sub-section (1), "specified financial transaction" means any- (a).....