Bare Act Search Results

Companies Act, 1956 Section 441A

Title: Levy and Collection of Cess on Turnover or Gross Receipts of Companies

State: Central

Year: 1956

(1) There shall be levied and collected, for the purposes of rehabilitation or revival or protection of assets of the sick industrial company, a levy by way of cess at such rate not less than 0.005 per cent, and not more than 0.1 per cent, on the value of annual turnover of every company or its annual gross receipt, whichever is more as the Central Government may, from time to time, specify by notification in the Official Gazette. (2) Every company shall pay to the Central Government the cess referred to in sub-section (1) within three months from the close of every financial year. (3) Every company shall furnish, in such form as may be prescribed, to the Central Government and the Tribunal the details of its turnover and gross receipts with payment of cess under sub-section (1), (4) The Central Government may, by rules made in this behalf, specify the manner in which the cess shall be paid under sub-section (2).

Income Tax Act, 1961 Section 80AB

Title: Deductions to Be Made with Reference to the Income Included in the Gross Total Income

State: Central

Year: 1961

Where any deduction is required to be made or allowed under any section included in this Chapter under the heading C. Deductions in respect of certain incomes in respect of any income of the nature specified in that section which is included in the gross total income of the assessee, then, notwithstanding anything contained in that section, for the purpose of computing the deduction under that section, the amount of income of that nature as computed in accordance with provisions of this Act (before making any deduction under this Chapter) shall alone be deemed to be the amount of income of that nature which is derived or received by the assessee and which is included in his gross total income.

Payment of Bonus Act, 1965 Section 4

Title: Computation of Gross Profits

State: Central

Year: 1965

1 [4. Computation of gross profits The gross profits derived by an employer from an establishment in respect of the accounting year shall- (a) in the case of a banking company, be calculated in the manner specified in the First Schedule; (b) in any other case, be calculated in the manner specified in the Second Schedule.] _______________________ 1. Substituted by Act 66 of 1980, Section 3, for section 4 (w.r.e.f 21-8-1980).

Payment of Bonus Act, 1965 Section 6

Title: Sums Deductible from Gross Profits

State: Central

Year: 1965

.....year from the date) continue to be such notional normal depreciation; (b) any amount by way of1[development rebate or investment allowance or development allowance] which the employer is entitled to deduct from hi s income under the income-tax Act; (c) subject to the provisions of section 7 , any direct tax which the employer is liable to pay for the accounting year in respect of hi s income, profits and gains during that year; (d) such further sums as are specified in respect of the employer in the2[Third Schedule]. ______________________ 1. Substituted by Act 66 of 1980, Section 4, for "development rebate or development allowance" (w.r.e.f. 21-8-1980). 2. Substituted by Act 66 of 1980, Section 4, for "Second Schedule" (w.r.e.f. 21-8-1980).

Forest Act, 1963 Section 34

Title: Suspension of Rights in Cases of Fires Caused Wilfully or by Gross Negligence

State: Karnataka

Year: 1963

Whenever fire is caused wilfully or by gross negligence in any land notified as protected forest under sub-section (4) of section 33; by any person having rights of pasture or to forest produce or by any person in his employment, the State Government may, without prejudice to any punishment under this Act direct that in such land, or any specified portion thereof, the exercise of all or any rights of pasture or to forest produce of any such person shall, for such period as it thinks fit, be suspended.

Bombay Local Fund Audit Act, 1930, (Maharashtra) Section 11

Title: Commissioner to Surcharge or Charge Illegal Pay???ment or Loss Caused by Gross Negligence or Misconduct

State: Maharashtra

Year: 1930

.....it on the day on which it was refused by him. 5[(4) If the Commissioner after considering the recommen dation of the Chief Auditor under sub-section (3) of section 10, or of the head of the department or other officer under the first proviso to sub-section (3) of section 10, as the case may be, and after obtaining the explanation of the person concerned, or making such further enquiry as he may consider neces sary, decides not to proceed further in the matter, he may waive the objection after recording his reasons therefor, and shall communicate the same to the Chief Auditor or the head of the department or other officer, as the case may be.] ________________ 1. This portion was substituted for the words, brackets and figures "recommendation of the Examiner or of any head of a department under the proviso to sub-section (3) of section 10" by Mah. 3 of 1961, section 11(1)(a). 2. This portion was substituted for the words and figures for any period prior to the 1st april, 1930 by Mah. 3 of 1961, section 11(1)(b). 3. This proviso was inserted by Mah. 5 of 1962, section 286, Tenth Sch. 4. This words were inserted by Mah. 35 of 1963, section 80, Sch. 5. Sub-section.....

Income Tax Act, 1961 Complete Act

State: Central

Year: 1961

INCOME TAX ACT, 1961 INCOME TAX ACT, 1961 43 of 1961 [AS AMENDED BY FINANCE ACT, 2003] 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 : CHAPTER 1 PRELIMINARY Section 1 Short title, extent and commencement (1) This Act may be called the Income-tax Act, 1961. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act, it shall come into force on the 1st day of April, 1962. Section 2 Definitions 1 Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1) "advance tax" means the advance tax payable in accordance with the provisions of Chapter XVII-C;] 2 Renumbered as clause (1A) by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1A)] 3 For manner of computation of income which is partially agricultural and partially frombusiness, see rules 7, 7A, 7B and 8. For analysis, see Mashbra's Income-tax Rules."agricultural income" means - 4 Substituted by the Taxation Laws (Amendment) Act, 1970, w.r.e.f. 1-4-1962.[(a) any rent or revenue derived from land which is situated in India and is used for.....

Merchant Shipping Act, 1958 Complete Act

State: Central

Year: 1958

.....To meet the immediate requirements of the country soon after independence the Merchant Shipping Laws. (Extension to Acceding States and Amendment) Act, 1949 was enacted, by which the British Merchant Shipping Acts 1894 to 1938 were extended to the Acceding States (later known as Part B States) and Indian Consular Officers were empowered to perform functions in relation to Indian ships outside India and provision was made to enable Government to prescribe the proper national colours for ships registered in India, The Control of Shipping Act, 1947, was another short-term measure which continued the war-time control over Indian shipping and controlled the coastal trade by a system of licensing. This Act, which has been renewed from time to time, is due to expire on the 31st March, 1958. 3. The present Bill revises and consolidates all laws in force in India relating to merchant shipping, whether passed by the British Parliament or the Indian Legislature, and makes provision for the matters discussed in the succeedihg paragraphs, which also indicate the principal changes made in the law ........... -Gaz. of Ind., 1958, Extra., Pt. II, S. 2, p. 203.Act 21 of 1966.- The minimum.....

Merchant Shipping Act, 1958 Part IX

Title: Safety

State: Central

Year: 1958

.....at Sea (known briefly as the Safety Convention) of 1960, replacing the Safety Convention of 1948. This Convention contains a provision for the enactment and promulgation by Contracting Governments of laws and regulations to give effect to its provisions. This Convention came into force on the 17-6-1960. For definition of "Safety Convention",see Section 3 (37). Section 283A - Definitions 1[283A. Definitions (1) In this Part, unless the context otherwise requires,- (a) "existing ship" or "existing vessel" means a ship or vessel which is not a new ship or a new vessel, (b) "new ship" or "new vessel" means a ship or vessel whose keel is laid or which is at a similar stage of construction on or after the material date as defined in sub-section (2). (2) For the purposes of sub-section (1) "material date",- (i) in relation to an Indian ship, means the 21st July, 1968: (ii) in relation to a foreign ship belonging to a country to which the Load Line Convention applies, means the date as from which it is declared under section 283 that the Government of such country has accepted the Load Line Convention or, as the case may be, that the said Convention has been applied.....

Income Tax Act, 1961 Chapter VIA

Title: Deductions to Be Made in Computing Total Income

State: Central

Year: 1961

.....any premium or other payment made on an insurance policy other than a contract for a deferred annuity as is not in excess of twenty per cent of the actual capital sum assured. Explanation : In calculating any such actual capital sum assured, no account shall be taken (i) of the value of any premiums agreed to be returned, or (ii) of any benefit by way of bonus or otherwise over and above the sum actually assured, which is to be or may be received under the policy by any person. (4) The persons referred to in sub-section (2) shall be the following, namely: (a) for the purposes of clauses (i), (v), (x) and (xi) of that sub-section, (i) in the case of an individual, the individual, the wife or husband and any child of such individual, and (ii) in the case of a Hindu undivided family, any member thereof; (b) for the purposes of clause (ii) of that sub-section, in the case of an individual, the individual, the wife or husband and any child of such individual; (c) for the purpose of clause (xvii) of that sub-section, in the case of an individual, any two children of such individual. (5) Where, in any previous year, an assessee (i) terminates his contract of insurance.....