Bare Act Search Results

Finance (No. 2) Act, 1996 Chapter III

Title: Direct Taxes Income-tax

State: Central

Year: 1996

.....Blood Transfusion Council" means a society registered, in consultation with the National Blood Transfusion Council, under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India and has Secretary to the Government of that State dealing with the Department of Health, as its Chairman, by whatever named called; or (iiihb) any fund set up by a State Government to provide medical relief to the poor; or (iiihc) the Army Central Welfare Fund or the Indian Naval Benevolent Fund or the Air Force Central Welfare Fund established by the armed forces of the Union for the welfare of the past and present members of such forces or their dependants; or'. Section 27 - Amendment Of Section 80GG In section 80GG of the Income-tax Act, for the words "one thousand rupees", the words "two thousand rupees" shall be substituted with effect from the 1st day of April, 1997. Section 28 - Amendment Of Section 80-IA In section 80-IA of the Income-tax Act, with effect from the 1st day of April, 1997, - (a) in sub-section (1), after the words "infrastructure facility", the words "or scientific and industrial research and.....

Finance (No. 2) Act, 1996 Complete Act

State: Central

Year: 1996

.....Be it enacted by Parliament in the Forty-seventh Year of the Republic of India as follows :- SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called the Finance (No. 2) Act, 1996. (2) Save as otherwise provided in this Act, Sections 2-to58-andSection 88-shall be deemed to have come into force on the 1st day of April, 1996. SECTION 02: INCOME TAX (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 1996, income tax shall be charged at the rates specified in Part I of the First Schedule and such tax shall be increased in the cases to which Paragraph E of that Part applies by a surcharge calculated in the manner provided therein. (2) In the cases to which sub-paragraph I or sub-paragraph II of Paragraph A of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income exceeding six hundred rupees, in addition to total income, and the total income exceeds,- (i) in case to which the said sub-paragraph I applies, forty thousand rupees, and (ii) in a case to which the said sub-paragraph II applies, eighteen thousand rupees, then,- (a) the net.....

Arbitration and Conciliation Act, 1996 Complete Act

State: Central

Year: 1996

ARBITRATION AND CONCILIATION ACT, 1996 ARBITRATION AND CONCILIATION ACT, 1996 [Act No. 26 of Year 1996, dated 16th. August, 1996] An Act to consolidate and amend the law relating to domestic arbitration, international commercial arbitration and enforcement of foreign arbitral award as also to define the law relating to conciliation and for matters connected therewith or incidental thereto. PREAMBLE WHEREAS the United Nations Commission on International Trade law (UNCITRAL) has adopted the UNCITRAL Model Law on International Commercial Arbitration in 1985; AND WHEREAS the General Assembly of the United Nations has recommended that all countries give due consideration to the said Model Law, in view of the desirability of uniformity of the law of arbitral procedures and the specific needs of international commercial arbitration practice; AND WHEREAS the UNCITRAL has adopted the UNCITRAL Conciliation Rules in 1980; AND WHEREAS the General Assembly of the United Nations has recommended the use of the said Rules in cases where a dispute arises in the context of international commercial relations and the parties seek on amicable settlement of that dispute by recourse to.....

Depositories Act, 1996 (22 of 1996) Schedule 1

Title: The Schedule

State: Central

Year: 1996

.....on the total amount of security issued by it and such securities need not be stamped; (b) where an issuer issues certificate of security under sub-section (3) of section 14 of the Depositories Act, 1996, on such certificate duty shall be payable as is payable on the issue of duplicate certificate under this Act; (c) transfer of registered ownership of shares from a person to a depository or from a depository to a beneficial owner shall not be liable to any stamp duty; (d) the transfer of beneficial ownership of shares, such shares being shares of a company dealt with by a depository shall not be liable to duty under article 62 of Schedule I of this Act. Explanation.--For the purposes of this section, the expressions "beneficial owner", "depository", and "issuer" shall have the meanings respectively assigned to them in clauses (a), (e) and (f) of sub-section (1) of section 2 of the Depositories Act, 1996.'. PART II AMENDMENTS TO THE COMPANIES ACT, 1956 (l OF 1956) Amendments 1. In section 2, after clause (45A), the following clause shall be inserted, namely:-- '(45B) "Securities and Exchange Board of India" means the Securities and Exchange Board of India.....

Finance (No. 2) Act, 1996 Section 4

Title: Amendment of Section 10

State: Central

Year: 1996

.....from a fund under clause (23AAB);"; (b) in clause (10D), after the words, brackets, figures and letters "other than any sum received under sub-section (3) of section 80DDA", the following shall be inserted with effect from the 1st day of October, 1996, namely :- 'or under a Keyman insurance policy. Explanation : For the purposes of this clause, "Keyman insurance policy" means a life insurance policy taken by a person on the life of another person who is or was the employee of the first mentioned person or is or was connected in any manner whatsoever with the business of the first mentioned person;'; (c) in clause (15), in sub-clause (iv), after item (i), in the Explanation, for clause (e), the following clause shall be substituted with effect from the 1st day of April, 1997, namely :- "(e) the operation of ships or aircrafts or construction or operation of rail systems;"; (d) after clause (23AAA), the following clause shall be inserted with effect from the 1st day of April, 1997, namely :- '(23AAB) any income of a fund, by whatever named called, set up by the Life Insurance Corporation of India on or after the 1st day of August, 1996 under a pension scheme, - .....

Mahatma Gandhi Antarrashtriya Hindi Vishwavidyalaya Act, 1996 Schedule I

Title: Schedule

State: Central

Year: 1996

.....or body or the holder of that particular appointment, as the case may be. 36. Ordinances how made (1) The first Ordinances made under sub-section (2) of section 28 may be amended, repealed or added to at any time by the Executive Council in the manner specified below. (2) No Ordinance in respect of the' matters enumerated in section 28, other than the one enumerated in clause (m) of sub-section (1) thereof, shall be made by the Executive Coun­cil unless a draft of such Ordinance has been proposed by the Academic Council. (3) The Executive Council shall not have power to amend any draft of any Ordinance proposed by the Academic Council under clause (2) but may reject the proposal or return the draft to the Academic Council for re-consideration either in whole or in part, together with any amendment which the Executive Council may suggest. (4) Where the Executive Council has rejected or returned the draft of an Ordinance pro­posed by the Academic Council, the Academic Council may consider the question afresh and in case the original draft is reaffirmed by a majority of not less than two-thirds of the members present and voting and more than half the total.....

Arbitration and Conciliation Act, 1996 Part 1

Title: Arbitration

State: Central

Year: 1996

.....and as if that other enactment were an arbitration agreement, except in so far as the provision of this Part are inconsistent with that other enactment or with any rules made thereunder; (5) Subject to the provisions of sub-section (4), and save in so far as is otherwise provided by any law for the time being in force or in any agreement in force between India and any other country or countries, this Part shall apply to all arbitrations and to all proceedings relating thereto. (6) Where this Part, except section 28, leaves the parties free to determine a certain issue, that freedom shall include the right of the parties to authorise any person including an institution, to determine that issue. (7) An arbitral award made under this Part shall be considered domestic award. (8) Where this Part. (a) refers to the fact that the parties have agreed or that they may agree, or (b) in any other way refers to an agreement of the parties, that agreement shall include any arbitration rules referred to in that agreement. (9) Where this Part, other than clause (a) of section 25 or clause (a) of sub-section (2) of section 32, refers to a claim, it shall also apply to a.....

Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 Complete Act

State: Central

Year: 1996

.....behalf by the appropriate Government, by notification but does not include any building or other construction work to which the provisions of the (Factories Act, 1948), or the (Mines Act, 1952), apply; (e) "building worker" means a person who is employed to do any skilled, semi-skilled or unskilled, manual, supervisory, technical or clerical work for hire or reward, whether the terms of employment be expressed or implied, in connection with any building or other construction work but does not include any such person- (i) who is employed mainly in a managerial or administrative capacity; or (ii) who, being employed in a supervisory capacity, draws wages exceeding one thousand six hundred rupees per mensem or exercises, either by the nature of the duties attached to the office or by reason of the powers vested in him, functions mainly of a managerial nature; (f) "Chief Inspector" means the Chief Inspector of Inspection of Building and Construction appointed under sub-section (2) of (Section 42) ; (g) "contractor" means a person who undertakes to produce a given result for any establishment, other than a mere supply of goods or articles of manufacture, by the employment of.....

Depositories Act, 1996 Complete Act

State: Central

Year: 1996

.....of a depository. (2) Words and expressions used herein and not defined but defined in the Companies Act, 1956 (1 of 1956) or the Securities Contracts (Regulation) Act, 1956 (42 of 1956) or the Securities and Exchange Board of India Act, 1992 (15 of 1992), shall have the meanings respectively assigned to them in those Acts. SECTION 03: CERTIFICATE OF COMMENCEMENT OF BUSINESS BY DEPOSITORIES. (1) No depository shall act as a depository unless it obtains a certificate of commencement of business from the Board. (2) A certificate granted under sub-section (1) shall be in such form as may be specified by the regulations. (3) The Board shall not grant a certificate under sub-section (1) unless it is satisfied that the depository has adequate systems and safeguards to prevent manipulation of records and transactions : Provided that no certificate shall be refused under this section unless the depository concerned has been given a reasonable opportunity of being heard. SECTION 04: AGREEMENT BETWEEN DEPOSITORY AND PARTICIPANT. (1) A depository shall enter into an agreement with one or more participants as its agent. (2) Every agreement under sub-section (1) shall be in such form as.....

Mahatma Gandhi Antarrashtriya Hindi Vishwavidyalaya Act, 1996 Complete Act

State: Central

Year: 1996

.....to take or has been taken upon the result of such inspection or inquiry. (9) Where, the Executive Council does not, within a reasonable time, take action to the satisfaction of the Visitor, the Visitor may, after considering any explanation furnished or representation made by the Executive Council, issue such directions as he may think fit and the Executive Council shall comply with such directions. (10) Without prejudice to the foregoing provisions of this section, the Visitor may, by order in writing, annul any proceeding of the University which is not in conformity with this Act, the Statutes or the Ordinances : Provided that before making any such order, he shall call upon the Registrar to show cause why such an order should not be made, and, if any cause is shown within a reasonable time, he shall consider the same. (11) The Visitor shall have such other powers as may be prescribed by the Statutes. SECTION 10: OFFICERS OF THE UNIVERSITY -The following shall be the officers of the University:- (1) the Chancellor; (2) the Vice-Chancellor; (3) the Pro Vice-Chancellor; (4) the Deans of Schools; (5) the Registrar; (6) the Finance Officer; (7) the Librarian; and (8) such other.....