Bare Act Search Results
Home Bare Acts Phrase: his businessChit Funds Act, 1982 Chapter II
Title : Registration of Chits, Commencement and Conduct of Chit Business
State : Central
Year : 1982
.....foreman; (b) his methods of operation; (c) the interests of prospective subscribers; (d) the requirements as to security; and (e) such other factors as the circumstances of the case may require. (3) The amount of discount referred to in clause (f) of sub-section (1) shall not exceed1[forty per cent.] of the chit amount. (4) Where the prized subscriber at any instalment of the chit is required to be determined by auction and more than one person offer the maximum discount, the prized subscriber shall be determined by lot. ______________________ 1. Substituted for the words "thirty per cent" by The Chit Funds (Amdt.) Act, 2001. w.e.e. 01.10.2001 Section 7 - Filing of chit agreement (1) Every chit agreement shall be filed in duplicate by the foreman with Registrar. (2) The Registrar shall retain one copy of the chit agreement and return the duplicate to the foreman with an endorsement that the chit agreement has been registered: Provided that the Registrar may refuse to register the chit agreement on any one or more of the following grounds, namely: (a) that the security offered by the foreman under section 20 is insufficient; (b) that the foreman had.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 43
Title : Definitions of Certain Terms Relevant to Income from Profits and Gains of Business or Profession
State : Central
Year : 1961
.....that for the purposes of this clause (a) a contract in respect of raw materials or merchandise entered into by a person in the course of his manufacturing or merchanting business to guard against loss through future price fluctuations in respect of his contracts for actual delivery of goods manufactured by him or merchandise sold by him; or (b) a contract in respect of stocks and shares entered into by a dealer or investor therein to guard against loss in his holdings of stocks and shares through price fluctuations; or (c) a contract entered into by a member of a forward market or a stock exchange in the course of any transaction in the nature of jobbing or arbitrage to guard against loss which may arise in the ordinary course of his business as such member; 8[or] 8[(d) an eligible transaction in respect of trading in derivatives referred to in clause 9[(ac)] of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) carried out in a recognised stock exchange:] shall not be deemed to be a speculative transaction. 8[Explanation: For the purposes of this clause, the expressions (i) eligible transaction means any transaction, (A) carried out.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 44AA
Title : Maintenance of Accounts by Certain Persons Carrying on Profession or Business
State : Central
Year : 1961
.....year; or (iii) where the profits and gains from the business are deemed to be the profits and gains of the assessee under 3[section 44AE] 4[or section 44BB or section 44BBB], as the case may be, and the assessee has claimed his income to be lower than the profits or gains so deemed to be the profits and gains of his business, as the case may be, during such 5[previous year; or] 5a[(iv) where the profits and gains from the business are deemed to be the profits and gains of the assessee under section 44AD and he has claimed such income to be lower than the profits and gains so deemed to be the profits and gains of his business and his income exceeds the maximum amount which is not chargeable to income-tax during such previous year;] keep and maintain such books of account and other documents as may enable the Assessing Officer to compute his total income in accordance with the provisions of this Act. (3) The Board may, having regard to the nature of the business or profession carried on by any class of persons, prescribe6, by rules, the books of account and other documents (including inventories, wherever necessary) to be kept and maintained under sub-section (1) or.....
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Act,1972 Chapter II
Title : Transfer to Public Ownership of Genral Insurance Business
State : Central
Year : 1972
.....Government to the concerned Indian insurance company, who shall, on receipt of such copy, and notwithstanding anything contained in the Companies Act or in its articles of association, forthwith rectify its register of members by including therein the persons mentioned in the notification as the holders of the shares specified therein. (5) For the removal of doubts it is hereby declared that the transfer and vesting of shares effected under sub-section (1) shall not be deemed to affect any right of the Indian insurance company subsisting immediately before the appointed day against any shareholder to recover from him any sum of money on the ground that that shareholder has not paid or credited to the insurer the whole or any part of the value of the shares held by him or on any other ground whatsoever. Section 5 - Transfer of undertakings of other existing insurers (1) On the appointed day, the undertaking of every existing insurer who is not an Indian insurance company shall stand transferred to and vested in the Central Government and the Central Government shall immediately thereafter provide, by notification, for the transfer to and vesting in such Indian insurance.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 44AB
Title : Audit of Accounts of Certain Persons Carrying on Business or Profession
State : Central
Year : 1961
.....under this section. Explanation: For the purposes of this section, - (i) accountant shall have the same meaning as in the Explanation below sub-section (2) of section 288; 7[(ii) specified date, in relation to the accounts of the assessee of the previous year relevant to an assessment year, means the 8[30th day of September] of the assessment year.] ___________________________ 1. For the expression within bold square brackets, the expression Section 44AE; or shall be substituted by the Finance (No. 2) Act, 2009, with effect from 1st April, 2011. 2. Inserted by the Finance Act, 2003, with effect from 1st April, 2004. 3. For the expression within bold square brackets the expression previous year; or shall be substituted by the Finance (No. 2) Act, 2009, with effect from 1st April, 2011. 3a. The clause (d) shall be inserted by te Finance (No. 2) Act, 2009, with effect from 1st April, 2011. 4. See rule 6G and Form Nos. 3CA, 3CB and 3CD. For analysis, see Mashbras Income-tax Rules. 5. Substituted for section 44BB or section 44BBA or section 44BBB by the Finance Act, 2003, with effect from 1st April, 2004. 6. Inserted by the Finance Act, 2001, with effect from.....
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Section 40B
Title : Limitation of Expenses of Management in Life Insurance Business
State : Central
Year : 1938
.....this section,-- (a) "calendar year" or "year" means, in relation to an insurer who is required to furnish returns in accordance with sub-section (2) of section 16, the period covered by the revenue account furnished by such insurer under clause (b) of that sub-section; (b) "expenses of management" means all charges wherever incurred whether directly or indirectly, and includes-- (i) commission payments of all kinds, (ii) any amount of expenses capitalised, (iii) in the case of an insurer having his principal place of business outside India, a proper share of head office expenses which shall not be less than such percentage as may be prescribed of the total premiums (less re-insurances) received during that year in respect of life insurance business transacted by him in India, but does not include in the case of an insurer having his principal place of business in India any share of head office expenses in respect of life insurance business transacted by him outside India.] ________________________ 1. Inserted by Act 47 of 1950, section 31 (w.e.f. 1-9-1950). 2. Substituted by Act 41 of 1999, section 30 and Schedule I, for "Controller".
View Complete Act List Judgments citing this sectionChit Funds Act, 1982 Section 19
Title : Restriction on Opening of New Place of Business
State : Central
Year : 1982
.....his registered office or, as the case may be, the place or the principal place of business is situated. (2) Before granting approval under sub-section (1), the Registrar shall consult the Registrar of that State within whose territorial jurisdiction the new place of business is proposed to be opened and shall also keep in view the financialcondition and methods of operation of the foreman, the extent to which public interest will be served by the opening of the new place of business and such other matters as may be prescribed. (3) Where a person carrying on chit business opens a new place of business in a State other than the State (hereinafter referred to as the State of origin) in which his registered office or the place or the principal place of his business is situated, the Registrar of the State in which such new place of business is opened may also exercise and perform any of the powers and functions which the Registrar of the State of origin may exercise and perform in respect of the chit business carried on at such new place of business. (4) For the purposes of this section, "place of business" shall include any branch office, sub-office, or any place of.....
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 592
Title : Documents, Etc., to Be Delivered to Registrar by Foreign Companies Carrying on Business in India
State : Central
Year : 1956
.....office: Provided that, where all the partners in a firm are joint secretaries of the company, the name and principal office of the firm may be stated instead of the particulars mentioned in clause (b) of this sub-section, (3) Clauses (2) and (3) of the Explanation to sub-section (1) of section 303 shall apply for the purpose of the construction of references in sub-section (2) to present and former names and surnames as they apply for the purposes of the construction of such references in sub-section (1) of section 303. (4) Foreign companies, other than those mentioned in sub-section (1), shall, if they have not delivered to the Registrar before the commencement of this Act the documents and particulars specified in sub-section (1) of section 277 of the Indian Companies Act, 1913 (7 of 1913), continue to be subject to the obligation to deliver those documents and particulars in accordance with that Act. _____________________ 1. Substituted by Act 31 of 1965, Section 62 and Schedule, for "one month" (w.e.f. 15-10-1965).
View Complete Act List Judgments citing this sectionPunjab General Sales Tax Act, 1948 [Repealed] Section 16
Title : Information to Be Furnished Regarding Change of Business
State : Central
Year : 1948
If any dealer to whom the provisions of sub-section (3) of section 10 apply- a. Sells or otherwise disposes of his business or any place of business or b. Discontinues or transfers his business or changes his place of business or opens a new place of business; or c. Changes the name, constitution or nature of his business or d. Wants to make any change in the class or classes of goods specified in his certificate of registration for use in the manufacture of any goods for sale. he shall with in the prescribed time inform the prescribed authority accordingly and if any such dealer dies, his legal representative shall in like manner inform the said authority.
View Complete Act List Judgments citing this sectionMental Health Act, 1987 Chapter VI
Title : Judicial Inquisition Regarding Alleged Mentally Ill Person Possessing Property,custody of His Person and Management of His Property
State : Central
Year : 1987
..... On completion of the inquisition, the District Court shall record its findings on,-- (i) whether the alleged mentally ill person is in fact mentally ill or not, and (ii) where such person is mentally ill, whether he is incapable of taking care of himself and of managing his property, or incapable of managing his property only. Section 52 - Provision for appointing guardian of mentally ill person and for manager of property (1) Where the District Court records a finding that the alleged mentally ill person is in fact mentally ill and is incapable of taking care of himself and of managing his property, it shall make an order for the appointment of a guardian under section 53 to take care of his person and of a manager under section 54 for the management of his property. (2) Where the District Court records a finding that the alleged mentally ill person is in fact mentally ill and is incapable of managing his property but capable of taking care of himself, il shall make an order under section 54 regarding the management of his property. (3) Where the District Court records a finding that the alleged mentally ill person is not mentally ill, it shall dismiss.....
View Complete Act List Judgments citing this section