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Finance Act 2005 Section 3
Title: Amendment of Section 2
State: Central
Year: 2005
..... (b) after clause (23A), the following clause shall be inserted, namely:- '(23B) "fringe benefits" means any fringe benefits referred to in section 115WB;'; (c) in clause (42A), in the proviso, after the words, brackets, figures and letter "clause (23D) of section 10", the words "or a zero coupon bond" shall be inserted; (d) in clause (43), after the words "the aforesaid date", the words, figures and letters "and in relation to the assessment year commencing on the 1st day of April, 2006, and any subsequent assessment year includes the fringe benefit tax payable under section 115WA" shall be inserted; (e) in clause (47), after sub-clause (iv), the following sub-clause shall be inserted, namely:- "(iva) the maturity or redemption of a zero coupon bond; or"; (f) after clause (47) and the Explanation relating thereto, the following shall be inserted, namely:- '(48) "zero coupon bond" means a bond- (a) issued by any infrastructure capital company or infrastructure capital fund or public sector company on or after the 1st day of June, 2005; (b) in respect of which no payment and benefit is received or receivable before maturity or redemption from.....
View Complete Act List Judgments citing this sectionCompanies (Surcharge on Income-tax) Act, 1971 [Repealed] Complete Act
Title: Companies (Surcharge on Income-tax) Act, 1971 [Repealed]
State: Central
Year: 1971
Preamble1 - COMPANIES (SURCHARGE ON INCOME-TAX) ACT, 1971 Section1 - Short title Section2 - Definitions Section3 - Levy of surcharge on income-tax payable by companies during 1971-72 Section4 - Mode of recovery Section5 - Credit for surcharge Repealing Act1 - DIRECT-TAX LAWS (MISCELLANEOUS) REPEAL ACT, 2000
List Judgments citing this sectionMadhya Bharat Taxes on Income (Validation) Act, 1954 [Repealed] Complete Act
Title: Madhya Bharat Taxes on Income (Validation) Act, 1954 [Repealed]
State: Central
Year: 1954
Preamble1 - MADHYA BHARAT TAXES ON INCOME (VALIDATION) ACT, 1954 Section1 - Short title Section2 - Definitions Section3 - Validation of action taken in connection with the levy, assessment and collection of certain taxes on income Section4 - Continuance of pending proceedings Repealing Act1 - DIRECT-TAX LAWS (MISCELLANEOUS) REPEAL ACT, 2000
List Judgments citing this sectionCompulsory Deposit Scheme (Income Tax Payers) Act, 1974, Complete Act
Title: Compulsory Deposit Scheme (Income Tax Payers) Act, 1974,
State: Central
Year: 1974
.....of wealth-tax Section8 - Repayment of compulsory deposit Section9 - Intimation regarding compulsory deposit Section10 - Penalty for failure to make compulsory deposit Section11 - Authorities Section12 - Appeals and revisions Section12A - Special review in certain cases Section13 - Rectification of mistakes Section14 - Collection and recovery of compulsory deposit and penalty Section15 - Rounding off Section16 - Applicability of Chapter XV of Income-tax Act Section17 - Protection against attachment Section18 - Protection of action taken in good faith Section19 - Compulsory Deposit Scheme Section20 - Power to remove difficulties Section21 - Repeal and saving ScheduleI - SCHEDULE Amending Act1 - COMPULSORY DEPOSIT SCHEME (INCOME-TAX PAYERS) AMENDMENT ACT, 1981 Amending Act2 - COMPULSORY DEPOSIT SCHEME (INCOME-TAX PAYERS) AMENDMENT ACT, 1985
List Judgments citing this sectionIncome Tax Act, 1961 Complete Act
Title: Income Tax Act, 1961
State: Central
Year: 1961
.....Section4 - Charge of income-tax Section5 - Scope of total income Section5A - Apportionment of income between spouses governed by Portuguese Civil Code Section6 - Residence in India Section7 - Income deemed to be received Section8 - Dividend income Section9 - Income deemed to accrue or arise in India Chapter III Section10 - Incomes not included in total income Section10A - Special provision in respect of newly established undertakings in free trade zone, etc. Section10AA - Special provisions in respect of newly established Units in Special Economic Zones Section10B - Special provisions in respect of newly established hundred per cent export-oriented undertakings Section10BA - Special provisions in respect of export of certain articles or things Section10BB - Meaning of computer programmes in certain cases Section10C - Special provision in respect of certain industrial undertakings in North-Eastern Region Section11 - Income from property held for charitable or religious purposes Section12 - Income of trusts or institutions from contributions Section12A - Conditions as to registration of trusts, etc. Section12AA - Procedure for registration Section13 - Section 11.....
List Judgments citing this sectionAgricultural Income-tax Act, 1957 Complete Act
Title: Agricultural Income-tax Act, 1957
State: Karnataka
Year: 1957
.....title, extent and commencement Section 2 - Definitions Chapter 2 Section 3 - Charge of Agricultural Income-Tax Section 4 - Application of the Act Section 5 - Computation of agricultural Income Section 5A - Exemption in respect of insurance premia, contribution to provident fund etc,. Section 5B - [Omitted] Section 6 - Assessment of income derived from lands partly within the State and party without Section 7 - Method of accounting Section 7A - Accounts to be maintained by certain assessees Section 8 - Assessment of agricultural income in regard to tea, coffee and rubber Section 9 - Assessment of a Hindu undivided Family Section 10 - Liability of Court of Wards, Administrator-General, etc. Section 11 - Income from settlement, disposition etc. Section 12 - Exemption from assessment of income-tax Section 12A - Power of State Government to reduce, excempt or remit tax Section 13 - [Omitted] Section 14 - Non-residents Section 15 - Carrying forward of loss Section 16 - Certificate in respect of payment of tax by companies Chapter 3 Section 17 - Income-Tax Authotities Section 17A - Powers of Comissioner to transfer cases Chapter 4 Section 18 - Return of Income .....
List Judgments citing this sectionFinance Act 2001 Chapter 3
Title: Direct Taxes
State: Central
Year: 2001
.....consists of a house or part of a house which - (a) is in the occupation of the owner for the 'purposes of his own residence; or (b) cannot actually be occupied by the owner by reason of the fact that owing to his employment, business or profession carried on at any other place, he has to reside at that other place in a building not belonging to him. the annual value of such house or part of the house shall be taken to be nil. (3) The provisions of sub-section (2) shall not apply if- (a) the house or part of the house is actually let during the whole or any part of the previous year; or (b) any other benefit there from is derived by the owner. (4) Where the property referred to in sub-section (2) consists of more than one house (a) the provisions of that sub-section shall apply only in respect of one of such houses, which the assessee may, at his option, specify in this behalf ; (b) the annual value of the house or houses, other than the house in respect of which the assessee has exercised an option under clause (a), shall be determined under sub-section (1) as if such house or houses had been let.". Section 15 - Substitution of new section for section 24.....
View Complete Act List Judgments citing this sectionIncome 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.....
View Complete Act List Judgments citing this sectionFinance Act, 1983 Section 36
Title: Insertion of New Chapter Xii-a
State: Central
Year: 1983
.....into money. 115G. Return of income not to be filed in certain cases. - It shall not be necessary for a nonresident Indian to furnish under sub-section (1) of section 139 A return of his income if - (a) his total income in respect of which he is assessable under this Act during the previous year consisted only of investment income or income by way of long-term capital gains or both; and (b) the tax deductible at source under the provisions of Chapter XVII-B has been deducted from such income. 115H. Benefit under Chapter to be available in certain cases even after the assessee becomes resident. - Where a person, who is a non-resident Indian In Any previous year, becomes assessable as resident in India in respect of the total income of any subsequent year, he may furnish to the Income-tax Officer a declaration in writing along with his return of income under section 139 for the assessment year for which he is so assessable, to the effect that the provisions of this Chapter shall continue to apply to him in relation to the investment income derived from any foreign exchange asset being an asset of the nature referred to in sub-clause (ii) or sub-clause (iii) or.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 115AC
Title: Tax on Income from Bonds or Global Depository Receipts Purchased in Foreign Currency or Capital Gains Arising from their Transfer
State: Central
Year: 1961
.....asset, being bonds or shares referred to in clause (b) of sub-section (1). (4) It shall not be necessary for a non-resident to furnish under sub-section(1) of section 139 a return of his income if (a) his total income in respect of which he is assessable under this Act during the previous year consisted only of income referred to in clause (a) of sub-section (1) ; and (b) the tax deductible at source under the provisions of Chapter XVIIB has been deducted from such income. (5) Where the assessee acquired shares or bonds in an amalgamated or resulting company by virtue of his holding shares or bonds in the amalgamating or demerged company, as the case may be, in accordance with the provisions of sub-section (1), the provisions of the said sub-section shall apply to such shares or bonds. 2. Substituted for dividends by the Finance Act, 2003, with effect from 1st April, 2004. Earlier, the expression other than dividends referred to in section 115-O was omitted by the Finance Act, 2002, with effect from 1st April, 2003. 3. Substituted for re-issued by the Finance Act, 2002, with effect from 1st April, 2002. 4. Omitted by the Finance Act, 2002, with effect from 1st.....
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