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Finance Act, 1983 Chapter III

Title: Direct Taxes

State: Central

Year: 1983

.....April, 1984, namely :- "43B. Certain deductions to be only on actual payment. - Notwithstanding anything contained in any other provision of this Act, a deduction otherwise allowable under this Act in respect of - (a) any sum payable by the assessee by way of tax or duty under any law for the time being in force, or (b) any sum payable by the assessee as an employer by way of contribution to any provident fund or superannuation fund or gratuity fund or any other fund for the welfare of employees, shall be allowed (irrespective of the previous year in which the liability to pay such sum was incurred by the assessee according to the method of accounting regularly employed by him) only in computing the income referred to in section 28 of that previous year in which such sum is actually paid by him. Explanation : For the removal of doubts, it is hereby declared that where a deduction in respect of any sum referred to in clause (a) or clause (b) of this section is allowed in computing the income referred to in 28 of the previous year (being a previous year relevant to the assessment year commencing on the 1st day of April, 1983 or any earlier assessment year) in which the.....

The Tamil Nadu Cooperative Societies Act, 1983 Complete Act

State: Tamil Nadu

Year: 1983

THE TAMIL NADU CO-OPERATIVE SOCIETIES ACT, 1983 THE TAMIL NADU CO-OPERATIVE SOCIETIES ACT, 1983 (ACT NO.30 OF 1983) Brought into force with effect from 13-4-1988. No. II(2)/CO/1568(b)/88-G.o.Ms.No.115, dated 24-3-1988, Published in the Tamil Nadu Government Gazette Extraordinary, Part II, Section 2, dated 1-4-1988. [Received the assent of the President on the 15th July 1983 first published in the Tamil Nadu Government Gazette Extraordinary on the 1st November, 1983] An Act to amend and consolidate the law relating to and to make better provision for, the organization, management and supervision of co-operative societies in the State of Tamil Nadu. WHEREAS it is expedient further to provide for an orderly development of the co-operative movement in accordance with co-operative principles such as open membership, democratic management limited interest on capital, distribution of surplus based on patronage, provision for co-operative education and co-operation among co-operatives, for the promotion of thrift, self-help and mutual aid among persons with common socio-economic needs so as to bring about improvement in agriculture and industry, better methods of.....

Finance Act, 1983 Complete Act

State: Central

Year: 1983

.....OF CLOSELY-HELD COMPANIES - [Note this section has been omitted by Finance Act 18 to 1992 S. 117 (1-4-1993)]. SECTION 41: (Amendments to Wealth-tax Act incorporated in that Act. hence not given,] SECTION 42: AMENDMENT OF SECTION 5 - (Amendments incorporated in the Principal Act]. SECTION 43: AMENDMENT OF SECTION 4 - Insection 4 of the Interest-tax Act, 1974-the following proviso shall be inserted at the end, namely:- "Provided that the rate at which interest-tax shall be charged in respect of any chargeable interest accruing or arising after the 31st day of March, 1983 shall be three and a half per cent. of such chargeable interest" SECTION 44: AMENDMENT OF ACT 51 OF 1975 - [Amendments incorporated in the Customs Tariff Act, 1975] SECTION 45: AUXILIARY DUTIES OF CUSTOMS (1) In the case of goods mentioned in the First Schedule to the Customs Tariff Act, or in that Schedule as amended from-time to time. there shall believed and collected as an auxiliary duty of customs an amount equal to fifty percent. of the value of the goods as determined in accordance with the provisions ofSection 14 of the Customs Act, 1962-(hereinafter referred to as the Customs Act). (2) Sub-section (1).....

West Bengal Cooperative Societies Act, 1983 Complete Act

State: West Bengal

Year: 1983

.....an officer not below the rank of an Assistant Registrar of Cooperative Societies as may be prescribed; 1010. Clause (19a) was first inst. by W.B. Act 27 of 1989, then subs. by W.B. Act 22 of 1992. (19a) "Director of Co-operative Audit" means the person appointed to be the Director of Co-operative Audit under sub-section (2) of section 9; (20) "dispute" means any matter capable of being the subject of civil litigation, and includes a claim in respect of any sum payable to or by a co-operative society; 1111. Clause (21) subst. by W.B. Act 21 of 1990. (21) "district co-operative union" means a co-operative society which has an area of membership extending to the whole of a co-operative range and the primary object of which is to assist the State Co-operative Union in implementing its objects; (22) "engineers' co-operative" means a co-operative society formed of unemployed (i) degree holders in any branch of engineering, technology, science, commerce, arts or agriculture, or (ii) diploma holders in any branch of engineering, technology or agriculture, or (iii) certificate holders in any industrial trade, for their exclusive benefit, the percentage of degree or diploma holders.....

Finance Act, 1983 Section 35

Title: Amendment of Section 115a

State: Central

Year: 1983

In section 115A of the Income-tax Act, in sub-section (1), with effect from the 1st day of June, 1983, - (a) after clause (a), the following clause shall be inserted, namely :- "(aa) interest received from Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency; or"; (b) for clause (b), the following clause shall be substituted, namely :- "(b) royalty or fees for technical services received from Government or an Indian concern in pursuance of an agreement made by the foreign company with Government or the Indian concern after 31st day of March, 1976, and where such agreement is with an Indian concern, such agreement is approved by the Central Government,"; (c) after clause (i), the following clause shall be inserted, namely :- "(ia) the amount of income-tax calculated on the income by way of interest referred to in clause (aa), if any, included in the total income, at the rate of twenty-five per cent.;"; (d) in clause (iv), for the words, brackets and letters 'and clause (b)", the words, brackets and letters "clause (aa) and clause (b)" shall be substituted; (e) in the Explanation, after clause.....

Finance Act, 1983 Schedule I

Title: First Schedule

State: Central

Year: 1983

.....any debentures issued by a company where such debentures are listed in a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956), and any rules made thereunder (vi) on any other income (excluding interest payable on a tax-free security) 20 per cent. 2.5 per cent.; (b) where the person is not resident in India - (i) in the case of a non-resident Indian - (A) on investment income and long-term capital gains 20 per cent. 2.5 per cent.; (B) on income by way of interest payable on a tax-free security 15 per cent. 1.875 per cent.; (C) on the whole of the other income cent. of the amount of the income, income-tax at 30 per cent. and surcharge at 3.75 per or income-tax and surcharge on income-tax in respect of the income at the rates prescribed in Sub-Paragraph I of Paragraph A of Part III of this Schedule, if such income had been the total income, whichever is higher; (ii) in the.....

Finance 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.....

Finance Act, 1983 Section 41

Title: Amendment of Section 5

State: Central

Year: 1983

In section 5 of the Wealth-tax Act, in sub-section (1), - 43 for clause (xa), the following clause shall be substituted with effect from the 1st day of April, 1984, namely :- "(xa) in the case of an assessee who is carrying on a profession (being legal, medical, engineering or architectural profession or the profession of accountancy or such other profession as is notified by the Central Government in this behalf) and who regularly maintains books of account on the cash system of accounting, the amount of any fee due to him in respect of the services rendered by him in such professional capacity;"; (b) for clause (xvic) [directed to be inserted by sub-clause (v) of clause (a) of section 34 of the Finance Act, 1982 (14 of 1982)], the following clauses shall be substituted with effect from the 1st day of April, 1984, namely :- '(xvic) in the case of an individual, being a citizen of India or a person of Indian origin who is not resident in India, during the year ending on the valuation date, any foreign exchange asset. Explanation : For the purposes if this clause, - 43 a person shall be deemed to be of Indian origin if he or either of his parents or any of his.....

Finance Act, 1983 Section 32

Title: Insertion of New Chapter Vii-b

State: Central

Year: 1983

.....referred to in sub-section (1) shall be the following namely :- (i) clause (iii) of sub-section (1) of section 35; (ii) clause (ia) of sub-section (2) section 35; (iii) sub-section (2A) of section 35, to the extent to which the deduction under the said sub-section exceeds the sum paid by the assessee; (iv) sub-section (2B) of section 35, to the extent to which the deduction under the said sub-section exceeds the expenditure incurred by the assessee; (v) section 35C; (vi) section 35CC; (vii) section 35CCA; (viii) section 35CCB; (ix) clause (ii) of sub-section (2) of section 33; (x) clause (ii) of sub-section (2) of section 33A; (xi) sub-section (1), or, as the case may be, sub-section (1), read with clause (i) of sub-section (2), of section 33A; (xii) clause (ii) of sub-section (3) of section 32A; (xiii) sub-section (1), or, as the case may be, sub-section (1), read with clause (i) of sub-section (3), of section 32A; (xiv) section 80G; (xv) clause (b) of sub-section (2) of section 80GGA; (xvi) clause (c) of sub-section (2) of section 80GGA; (xvii) section 80HH; (xviii) section 80HHA; (xix) section 80HHB; (xx) section 80HHC; (xxi).....

Finance Act, 1983 Section 5

Title: Amendment of Section 10

State: Central

Year: 1983

.....: For the purposes of this clause, - (a) "fees for technical services" shall have the same meaning as in Explanation 2 to clause (vii) of sub-section (1) of section 9; (b) "foreign company" shall have the same meaning as in section 80B; (c) "royalty" shall have the same meaning as in Explanation 2 to clause (vi) of sub-section (1) of section 9;'; (b) in clause (10), - (i) for the words "thirty thousand rupees", at the three place where they occur, the words "thirty-six thousand rupees" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 1982; (ii) after the proviso and before the Explanation, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1982, namely :- 'Provided also that the Central Government may, having regard to the maximum amount which may for the time being be exempt under sub-clause (i), increase, by notification in the Official Gazette, the limit of thirty-six thousand rupees, for all the three purposes for which it has been mentioned in the foregoing provisions of this clause, up to such maximum amount : Provided also that.....