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Companies (Surcharge on Income-tax) Act, 1971 [Repealed] Preamble 1

Title: Companies (Surcharge on Income-tax) Act, 1971

State: Central

Year: 1971

COMPANIES (SURCHARGE ON INCOME-TAX) ACT, 1971 [Act, No. 62 of 1971] [23rd December, 1971] PREAMBLE An Act to provide for the levy of a surcharge on income-tax payable in advance by companies during the financial year 1971-72 under the Income-tax Act, 1961. BE it enacted by Parliament in the Twenty-second Year of the Republic of India as follows: -

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Companies (Surcharge on Income-tax) Act, 1971 [Repealed] Section 3

Title: Levy of Surcharge on Income-tax Payable by Companies During 1971-72

State: Central

Year: 1971

(1) Every company which is liable to pay advance tax under Section 210 or Section 212 of the Income-tax Act during the financial year commencing on the 1st day of April, 1971, shall, in addition to the advance tax so payable, pay to the credit of the Central Government on or before the15th day of March, 1972, a further sum, by way of surcharge on income-tax, calculated at the rate of two and one-half per cent, of the amount specified in sub-section (2). (2) The amount referred to in sub-section (1) shall be (i) In a case where advance tax is required to be paid by an order under sub-section (1) or sub-section (3) of Section 210 of the Income-tax Act, the amount specified in such order; (ii) In a case where advance tax is payable under sub-section (1) or sub- section (2) or sub-section (3) or sub-section (3A) of Section 212 of the Income-tax Acton the basis of the estimate furnished by the company, the amount of advance tax so payable. (3) Any sum required to be paid by a company as surcharge on income tax under sub-section (1) shall be paid without any notice of demand to the company in that behalf from the Income-tax Officer.

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Income Tax Act, 1961 Preamble 1

Title: Income-tax Act, 1961

State: Central

Year: 1961

THE INCOME-TAX ACT, 1961 [43 of 1961] An Act to consolidate and amend the law relating to income-tax and super-tax Be it enacted by Parliament in the Twelfth Year of the Republic of India as follows :

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Income Tax Act, 1961 Section 4

Title: Charge of Income-tax

State: Central

Year: 1961

(1) Where any Central Act enacts that income-tax shall be charged for any assessment year at any rate or rates, income-tax at that rate or those rates shall be charged for that year in accordance with, and subject to the provisions (including provisions for the levy of additional income-tax) of, this Act in respect of the total income of the previous year of every person : Provided that where by virtue of any provision of this Act income-tax is to be charged in respect of the income of a period other than the previous year, income-tax shall be charged accordingly. (2) In respect of income chargeable under sub-section (1), income-tax shall be deducted at the source or paid in advance, where it is so deductible or payable under any provision of this Act.

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Income Tax Act, 1961 Section 25AA

Title: Unrealised Rent Received Subsequently to Be Charged to Income-tax

State: Central

Year: 1961

1[Where the assessee cannot realise rent from a property let to a tenant and subsequently the assessee has realised any amount in respect of such rent, the amount so realised shall be deemed to be income chargeable under the head Income from house property and accordingly charged to income-tax as the income of that previous year in which such rent is realised whether or not the assessee is the owner of that property in that previous year.] ______________________ 1. Inserted by the Finance Act, 2001, with effect from 1st April, 2002.

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Income Tax Act, 1961 Chapter VII

Title: Incomes Formaing Part of Total Incomeon Which No Income-tax is Payable

State: Central

Year: 1961

.....or body is chargeable to tax on its total income at the maximum marginal rate or any higher rate under any of the provisions of this Act, the share of a member computed as aforesaid shall not be included in his total income ; (b) in any other case, the share of a member computed as aforesaid shall form part of his total income : Provided further that where no income-tax is chargeable on the total income of the association or body, the share of a member computed as aforesaid shall be chargeable to tax as part of his total income and nothing contained in this section shall apply to the case. Section 86A - [Omitted] 1[***] ________________________ 1. Omitted by the Finance Act, 1988, with effect from 1st April, 1989.

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Income Tax Act, 1961 Section 87 to 88E

Title: A.rebate of Income-tax

State: Central

Year: 1961

1[A.-Rebate of income-tax _____________________ 1. Inserted by the Finance Act, 1990, w.e.f. 1-4-1991.

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Income Tax Act, 1961 Section 87

Title: Rebate to Be Allowed in Computing Income-tax

State: Central

Year: 1961

(1) In computing the amount of income-tax on the total income of an assessee with which he is chargeable for any assessment year, there shall be allowed from the amount of income-tax (as computed before allowing the deductions under this Chapter), in accordance with and subject to the provisions of 1[sections 88, 88A, 88B, 88C, 88D and 88E], the deductions specified in those sections. (2) The aggregate amount of the deductions under section 88 or section 88A or section 88B 2[or section 88C] 3[or section 88D or section 88E] shall not, in any case, exceed the amount of income-tax (as computed before allowing the deductions under this Chapter) on the total income of the assessee with which he is chargeable for any assessment year. ____________________ 1. Substituted for sections 88, 88A, 88B and 88C by the Finance (No. 2) Act, 2004, with effect from 1st April, 2005. Earlier, 88B and 88C was substituted for and 88B by the Finance Act, 2000, with effect from 1st April, 2001. 2. Inserted by the Finance Act, 2000, with effect from 1st April, 2001. 3. Inserted by the Finance (No. 2) Act, 2004, with effect from 1st April, 2005.

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Income Tax Act, 1961 Section 88B

Title: Rebate of Income-tax in Case of Individuals of Sixty-five Years or Above [Omitted]

State: Central

Year: 1961

1[***] ____________________ 1. Omitted by the Finance Act, 2005, with effect from 1st April, 2006. Prior to omission, section 88B as amended by the Finance Act, 1997, with effect from 1st April, 1998; Finance Act, 2000, with effect from 1st April, 2001 and Finance Act, 2003, with effect from 1st April, 2004, stood as under: 88B. Rebate of income-tax in case of individuals of sixty-five years or above An assessee, being an individual resident in India, who is of the age of sixty-five years or more at any time during the previous year shall be entitled to a deduction from the amount of income-tax (as computed before allowing the deduction under this Chapter) on his total income, with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of twenty thousand rupees, whichever is less.

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Income Tax Act, 1961 Section 88C

Title: Rebate of Income-tax in Case of Women Below Sixty-five Years [Omitted]

State: Central

Year: 1961

1[***] ____________________ 1. Omitted by the Finance Act, 2005, with effect from 1st April, 2006. Prior to omission, section 88C, as inserted by the Finance Act, 2000, with effect from 1st April, 2001, stood as under: 88C. Rebate of income-tax in case of women below sixty-five years. An assessee, (a) being a woman resident in India ; and (b) below the age of sixty-five years, at any time during the previous year, shall be entitled to a deduction from the amount of income-tax (as computed before allowing the deductions under this Chapter) on her total income, with which she is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of five thousand rupees, whichever is less.

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