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 Section 115BB

Title: Tax on Winnings from Lotteries, Crossword Puzzles, Races Including Horse Races, Card Games and Other Games of Any Sort or Gambling or Betting of Any Form or Nature Whatsoever

State: Central

Year: 1961

Where the total income of an assessee includes any income by way of winnings from any lottery or crossword puzzle or race including horse race (not being income from the activity of owning and maintaining race horses) or card game and other game of any sort or from gambling or betting of any form or nature whatsoever, the income-tax payable shall be the aggregate of (i) the amount of income-tax calculated on income by way of winnings from such lottery or crossword puzzle or race including horse race or card game and other game of any sort or from gambling or betting of any form or nature whatsoever, at the rate of 1[thirty per cent] ; and (ii) the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (i). Explanation : For the purposes of this section, horse race shall have the same meaning as in section 74A. ____________________________ 1. Substituted for forty per cent by the Finance Act, 2001, with effect from 1st April, 2002.

Income Tax Act, 1961 Section 194BB

Title: Winnings from Horse Race

State: Central

Year: 1961

Any person, being a bookmaker or a person to whom a licence has been granted by the Government under any law for the time being in force for horse racing in any race course or for arranging for wagering or betting in any race course, who is responsible for paying to any person any income by way of winnings from any horse race in an amount exceeding 2[five thousand rupees] shall, at the time of payment thereof, deduct income-tax thereon at the rates in force. 1[***] ______________________________________ 1. Proviso omitted by the Finance Act, 1999, with effect from 1st April, 2000. Prior to omission, the proviso stood as under: "Provided that no deduction shall be made under this section from any payment made before the 1st day of June, 1978." 2. Substituted by the Finance Act, 2010 w.e.f. 01.07.2010 for the following : "two thousand five hundred rupees".

The Madras Race Club (Acquisition and Transfer of Undertaking) Act 1986 Complete Act

State: Tamil Nadu

Year: 1986

THE MADRAS RACE CLUB (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT 1986 THE MADRAS RACE CLUB (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT 1986 ACT NO.26 OF 1986 An Act to provide for the acquisition, for a public purpose, and transfer of the undertaking of the Madras Race Club and for matters connected therewith or incidental thereto. WHEREAS the Madras Race Club, which is a company within the meaning of the Companies Act, 1956 (Central Act 1 of 1956), is engaged in the business of running of horse races at Madras and at Uthagamandalam including the business of inter-venue betting; AND WHEREAS it has been brought to the notice of the Government that the Committee of management of the Madras Race Club is ridden with factions and that the affairs of the said Club are not conducted properly and in particular in the interests of the race going public; AND WHEREAS instances of irregularities and malpractices in the conduct of the horse races have been brought to the notice of the Government: AND WHEREAS it has been brought to the notice of the Government that the book-makers keep huge amounts of bet from records causing substantial loss of revenue to the.....

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.....

The Haryana Racecourses Licensing Act, 1976 Complete Act

State: Haryana

Year: 1976

.....granted under section 4; (d) "licensee" means a person licensed under section 4; (e) "permit" means a permit granted to a book-maker under sub section (4) of section 4; (f) "prescribed" means prescribed by rules made under this Act; (g) "race-course" means any ground on which a horse-race can be held. 3. Prohibition of horse-racing on unlicensed race-courses. No horse-race shall be held save on a race-course for which a licence for horse-racing, granted in accordance with the provisions of this Act, is in force. 4. Licences for horse-racing. (1) The owner, lessee or occupier of any race-course may apply to the Government for a licence for horse-racing on such race-course, (2) The Government may refuse to grant the licence or grant it subject to such conditions, and for such period, as it may think fit. (3) In particular and without prejudice to the generality of the foregoing . power, such conditions may provide for" (a) the payment of a licence fee; (b) the amount of stakes which may be allotted for different kinds of horses; (c) the measures to be taken for the training of persons to become jockeys; (d) the measures to be taken to encourage Indian.....

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.

Delhi Entertainments and Betting Tax Act, 1996 Complete Act

State: Delhi

Year: 1996

.....Code. 18. Suspension or revocation of authorization certificate for entertainment- (1) No proprietor having a licence under the Cinematograph Act, 1952 (Central Act 37 of 1952) shall charge payment for admission and collect entertainment tax without au authorization to be called ˜admission fee and tax collection authorization certificate' from the Commissioner. (2) The Commissioner may, by order, revoke or suspend that authorization certificate issued under sub-section (1) if he is satisfied that the proprietor has- (a) admitted any person to any place of entertainment without payment of tax; or (b) failed to pay the tax or deposit security due from him within the time prescribed; or (c) fraudulently evaded the payment of any tax due under this Act; or (d) obstructed any officer in carrying out inspection, search or seizure of records; or (e) failed to produce the records required for inspection by any officer carrying out an inspection under this Act; or (f) contravened any other provision of this Act or the rules made thereunder or any order or direction issued under any such provision. (3) No order to revoke or suspend the admission fee and tax.....