Bare Act Search Results

The Tamil Nadu Horse Race (Abolition of Turf Agencies) Act, 1979 Complete Act

State: Tamil Nadu

Year: 1979

THE TAMIL NADU HORSE RACE (ABOLITION OF TURF AGENCIES) ACT, 1979 THE TAMIL NADU HORSE RACE (ABOLITION OF TURF AGENCIES) ACT, 1979, Act No.55 of 1979. An Act to provide for the abolition of the system of turf agencies in respect of any horse race in the State of Tamil Nadu. BE it enacted by the Legislature of the State of Tamil Nadu in the Thirtieth Year of the Republic of India as follows:- 1. Short title and commencement." (1) This Act may be called THE TAMIL NADU HORSE RACE (ABOLITION OF TURF AGENCIES) ACT, 1979. (2) It shall be deemed to have come into force on the 19th October 1979. 2. Definitions." In this Act, unless the context otherwise requires." (a) 'bet' includes wager; (b) 'Government' means the State Government; (c) 'horse' means a male horse and includes, mare, gelding, filly, ponv or any other horse by whatever name called ; (d) 'horse-race' means any race in which any horse runs or is made to run in competition with any other horse." (i) for any prize of whatever nature or kind, or (ii) for any bet made or to be made, or (iii) for both such prize and bet, in respect of any such horse, or the rider thereof; (e) 'turf.....

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.....

Finance Act, 1986 Chapter III

Title: Direct Taxes Income-tax

State: Central

Year: 1986

.....shall be substituted, namely :- "(3) Where the property referred to in sub-section (2) consists of one residential house only and it 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 shall be taken to be nil: Provided that the following conditions are fulfilled, namely :- (i) such house is not actually let, and (ii) no other benefit therefrom is derived by the owner.". Section 6 - Amendment Of Section 24 In section 24 of the Income-tax Act, for sub-section (2), the following sub-sections shall be substituted with effect from the 1st day of April, 1987, namely :- "(2) No deduction shall be allowed under sub-section (1) in respect of property of the nature referred to in sub-clause (i) of clause (a) of sub-section (2), or sub-section (3), of section 23 : Provided that nothing in this sub-section shall apply to the allowance of a deduction under clause (vi) of sub-section (1) of an amount not exceeding five thousand rupees in respect of the property of the nature.....

Income Tax Act, 1961 Chapter VI

Title: Aggregation of Income and Set off or Carry Forward of Loss

State: Central

Year: 1961

.....or amalgamation or demerger had not taken place.] 5[(aa) industrial undertaking means any undertaking which is engaged in - (i) the manufacture or processing of goods; or (ii) the manufacture of computer software; or (iii) the business of generation or distribution of electricity or any other form of power; or 6[(iiia) the business of providing telecommunication services, whether basic or cellular, including radio paging, domestic satellite service, network of trunking, broadband network and internet services; or] (iv) mining; or (v) the construction of ships, aircrafts or rail systems; ] 10[(b) "unabsorbed depreciation" means so much of the allowance for depreciation of the predecessor firm or the proprietary concern or the private company or unlisted public company before conversion into limited liability partnership or the amalgamating company or the demerged company, as the case may be, which remains to be allowed and which would have been allowed to the predecessor firm or the proprietary concern or the company or amalgamating company or demerged company, as the case may be, under the provisions of this Act, if the reorganisation of business or.....

INCOME TAX ACT, 1961 Section 74A

Title: Losses from certain specified sources falling under the head 'Income from other sources'

State: Central

Year: 1961

.....four assessment years immediately succeeding the assessment year for which the loss was first computed. Explanation: For the purposes of this sub-section - (a) amount of loss incurred by the assessee in the activity of owning and maintaining race horses means - (i) in a case where the assessee has no income by way of stake money, the amount of expenditure (not being in the nature of capital expenditure) laid out or expended by him wholly and exclusively for the purposes of maintaining race horses; (ii) in a case where the assessee has income by way of stake money, the amount by which such income falls short of the amount of expenditure (not being in the nature of capital expenditure) laid out or expended by the assessee wholly and exclusively for the purposes of maintaining race horses; (b) horse race means a horse race upon which wagering or betting may be lawfully made; (c) income by way of stake money means the gross amount of prize money received on a race horse or race horses by the owner thereof on account of the horse or horses or any one or more of the horses winning or being placed second or in any lower position in horse races.

Finance Act 1974 Chapter III

Title: Direct Taxes

State: Central

Year: 1974

.....making allowance for any relief, rebate or deduction in respect of income-tax to which the company is entitled under the provisions of the said Act or the annual Finance Act; and (b) the amount of surtax computed in accordance with the foregoing provisions of this Schedule, exceeds the amount calculated at seventy per cent. of the total income of the company, the amount of such excess shall be deducted from the amount of surtax referred to in clause (b) above and the balance shall be the amount of the surtax payable by the company.". Section 16 - Continuance of development rebate in certain cases The notification of the Government of India in the Ministry of Finance (Department of Revenue and Insurance) No. S.O. 2167, dated the 28th day of May, 1971, issued under sub-section (5) of section 33 of the Income-tax Act shall not apply in respect of - (a) any ship acquired after the 31st day of May, 1974, but before the 1st day of June, 1975, by any assessee, if the assessee furnishes evidence to the satisfaction of the Income-tax Officer that he had, before the 1st day of December, 1973, entered into a contract for the purchase of such ship with the builder or owner.....

Finance Act 1974 Section 6

Title: Amendment of Section 74a

State: Central

Year: 1974

.....words "against income, if any, from any other source under that head or against income under any other head" shall be substituted; (b) after sub-section (2), the following sub-section shall be inserted, namely :- (3) Where for any assessment year, in the case of an assessee, being the owner of horses maintained by him for running in horse races (such horses being hereafter in this sub-section referred to as race horses), the net result of the computation in respect of the source specified in clause (c) of sub-section (2) is a loss, then, so much of the amount of such loss as does not exceed the amount of loss incurred by the assessee in the activity of owning and maintaining race horses shall, subject to the other provisions of this Chapter, be carried forward to the following assessment year and - (a) it shall be set off against the income, if any, from the source specified in clause (c) of sub-section (2) assessable for that assessment year : Provided that the activity of owning and maintaining race horses is carried on by him in the previous year relevant for that assessment year; and (b) if the loss cannot be wholly so set off, the amount of loss not so set off.....

Finance Act, 1986 Section 14

Title: Amendment of Section 58

State: Central

Year: 1986

In section 58 of the Income-tax Act, after sub-section (3), the following sub-section shall be inserted with effect from the 1st day of April, 1987, namely :- '(4) In the case of an assessee having income chargeable under the head "Income from other sources", no deduction in respect of any expenditure or allowance in connection with such income shall be allowed under any provision of this Act in computing the income by way of any winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or from gambling or betting of any form or nature, whatsoever : Provided that nothing contained in this sub-section shall apply in computing the income of an assessee, being the owner of horses maintained by him for running in horse races, from the activity of owning and maintaining such horses. Explanation : For the purposes of this sub-section, "horse race" means a horse race upon which wagering or betting may be lawfully made.'.

Income Tax Act, 1961 Section 58

Title: Amounts Not Deductible

State: Central

Year: 1961

.....winnings from lotteries, crossword puzzles, races including horse races, card games and other games of any sort or from gambling or betting of any form or nature, whatsoever: Provided that nothing contained in this sub-section shall apply in computing the income of an assessee, being the owner of horses maintained by him for running in horse races, from the activity of owning and maintaining such horses. Explanation: For the purposes of this sub-section, horse race means a horse race upon which wagering or betting may be lawfully made. _____________________________ * Sub-section (12) of section 40A has been omitted by the Finance Act, 1992, with effect from 1st April, 1993.

Karnataka Entertainments Tax Act, 1958 Section 2

Title: Definitions

State: Karnataka

Year: 1958

.....Sales Tax Act, 1957.] 10 [(fb) "Joint Commissioner" means the Joint Commissioner of Commercial Taxes appointed under the Karnataka Sales Tax Act, 1957 (Karnataka Act 25 of 1957);] 16 [(g) 'local authority' means a municipal corporation a city municipal council, a town municipal council, a cantonment board, a town board, a sanitary board, a notified area committee, 17 [a 18 [Grama panchayat]], as the case may be;] 1 [(gg) '' Multi System Operator `` means person engaged in the business of receiving and distributing satellite television signals, communication network, including production and transmission of programmes and packages.``] (h) "notification" means a notification published in the Official Gazette; (i) "payment for admission" includes,- (i) any payment made by a person who having been admitted to one part of a place of entertainment is subsequently admitted to another part thereof, for admission to which a payment involving a tax or a higher tax is required; (ii) any payment for seats or other accommodation in a place of entertainment; 19 [(iii) any payment made for the loan or use of any instrument or contrivance which enables a person to get a.....