Bare Act Search Results

Finance (No. 2) Act 2009 Chapter III

Title: Direct Taxes

State: Central

Year: 2009

.....For the purposes of this sub-clause,-- (a) "specified security" means the securities as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and, where employees' stock option has been granted under any plan or scheme therefor, includes the securities offered under such plan or scheme; (b) "sweat equity shares" means equity shares issued by a company to its employees or directors at a discount or for consideration other than cash for providing know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called; (c) the value of any specified security or sweat equity shares shall be the fair market value of the specified security or sweat equity shares, as the case may be, on the date on which the option is exercised by the assessee as reduced by the amount actually paid by, or recovered from, the assessee in respect of such security or shares; (d) "fair market value" means the value determined in accordance with the method as may be prescribed; (e) "option" means a right but not an obligation granted to an employee to apply for the specified security or sweat equity.....

Finance (No.2) Act, 2009 Complete Act

State: Central

Year: 2009

.....Parliament in the Sixtieth Year of the Republic of India as follows CHAPTER 1: Preliminary: Section 1: Short title and commencement: (1) This Act may be called the Finance (No. 2) Act, 2009. (2) Save as otherwise provided in this Act, sections 2 to 83 shall be deemed to have come into force on the 1st day of April, 2009. CHAPTER 2: RATES OF INCOME-TAX SECTION 2: Income-tax: (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2009, income-tax shall be charged at the rates specified in Part I of the First Schedule and such tax shall be increased by a surcharge, for purposes of the Union, calculated in each case in the manner provided therein. (2) In the cases to which Paragraph A of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income exceeding five thousand rupees, in addition to total income, and the total income exceeds one lakh fifty thousand rupees, then,- (a) the net agricultural income shall be taken into account, in the manner provided in clause (b) [that is to say, as if the net agricultural income were comprised in the total income.....

Finance (No. 2) Act 2009 Chapter V

Title: Service Tax

State: Central

Year: 2009

.....in the Ministry of Finance (Department of Revenue) No. G.S.R. 10(E), dated the 5th January, 2009, issued in exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), granting exemption from the whole of service tax leviable under section 66 to any person providing specified taxable services to goods transport agency, shall be deemed to have, and to always have, for all purposes, validly come into force on and from the 1st day of January, 2005, at all material times. (2) Refund shall be made of all such service tax which has been collected but which would not have been so collected as if the notification referred to in subsection (1) had been in force at all material times. (3) Notwithstanding anything contained in the Finance Act, 1994 (32 of 1994), an application for the claim of refund of service tax shall be made within six months from the date on which the Finance (No. 2) Bill, 2009 receives the assent of the President. Explanation.-- For the removal of doubts, it is hereby declared that the provisions of section 11B of the Central Excise Act, 1944 (1 of 1994), shall be applicable in case of refunds under this section. .....

Finance (No. 2) Act 2009 Section 113

Title: Amendment of Act 32 of 1994

State: Central

Year: 2009

.....in the Ministry of Finance (Department of Revenue) No. G.S.R. 10(E), dated the 5th January, 2009, issued in exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), granting exemption from the whole of service tax leviable under section 66 to any person providing specified taxable services to goods transport agency, shall be deemed to have, and to always have, for all purposes, validly come into force on and from the 1st day of January, 2005, at all material times. (2) Refund shall be made of all such service tax which has been collected but which would not have been so collected as if the notification referred to in subsection (1) had been in force at all material times. (3) Notwithstanding anything contained in the Finance Act, 1994 (32 of 1994), an application for the claim of refund of service tax shall be made within six months from the date on which the Finance (No. 2) Bill, 2009 receives the assent of the President. Explanation.-- For the removal of doubts, it is hereby declared that the provisions of section 11B of the Central Excise Act, 1944 (1 of 1994), shall be applicable in case of refunds under this section. .....

Right of Children to Free and Compulsory Education Act, 2009 Complete Act

State: Central

Year: 2009

..... (k) "parent" means either the natural or step or adoptive father or mother of a child; (l) "prescribed" means prescribed by rules made under this Act; (m) "Schedule" means the Schedule annexed to this Act; (n) "school" means any recognised school imparting elementary education and includes-- (i) a school established, owned or controlled by the appropriate Government or a local authority; (ii) an aided school receiving aid or grants to meet whole or part of its expenses from the appropriate Government or the local authority; (iii) a school belonging to specified category; and (iv) an unaided school not receiving any kind of aid or grants to meet its expenses from the appropriate Government or the local authority; (o) "screening procedure" means the method of selection for admission of a child, in preference over another, other than a random method; (p) "specified category", in relation to a school, means a school known as Kendriya Vidyalaya, Navodaya Vidyalaya, Sainik School or any other school having a distinct character which may be specified, by notification, by the appropriate Government; (q) "State Commission for Protection of Child Rights" means the.....

Delhi Entertainments and Betting Tax (Amendment) Act, 2009 (14dec09) Complete Act

State: Delhi

Year: 2009

..... (3) For the purposes of recovery of any amount recoverable as arrears of land revenue under this Act, the provisions of the Delhi Land Reforms Act, 1954 Delhi Act 8 of 1954), as to the recovery of arrears of land revenue shall, notwithstanding anything contained in that Act or in any other enactment, be deemed to be in force throughout Delhi and the provisions of the Revenue Recover Act, 1890 (1 of 1890) shall have effect accordingly. (4) For the purposes of recovery of any amount recoverable as arrear of land revenue under this Act- (a) the Deputy Entertainment Tax and Betting Tax Commissioner shall have and exercise all the powers and perform all the duties of the Deputy Commissioner under the Delhi Land Reforms Act, 1954 (Delhi Act 8 of 1954); (b) the Entertainment Tax Officer and Additional Entertainment Tax Officer shall have and exercise all the powers and perform all the duties of the Revenue Assistant under the Delhi Land Reforms Act, 1954 (Delhi Act 8 of 1954); (c) the Assistant Entertainment Tax Officer shall have and exercise all the powers and perform all the duties of Tehsildar under the Delhi Land Reforms Act, 1954 (Delhi Act 8 of 1954); 9. Insertion.....

Right of Children to Free and Compulsory Education Act 2009 Chapter IV

Title: Responsibilities of Schools and Teachers

State: Central

Year: 2009

..... (3) Where a school fails to fulfil the norms and standards within the period specified under sub-section (2), the authority prescribed under sub-section (1) of section 18 shall withdraw recognition granted to such school in the manner specified under sub-section (3) thereof. (4) With effect from the date of withdrawal of recognition under sub-section (3), no school shall continue to function. (5) Any person who continues to run a school after the recognition is withdrawn, shall be liable to fine which may extend to one lakh rupees and in case of continuing contraventions, to a fine of ten thousand rupees for each day during which such contravention continues. Section 20 - Power to amend Schedule The Central Government may, by notification, amend the Schedule by adding to, or omitting therefrom, any norms and standards. Section 21 - School Management Committee (1) A school, other than a school specified in sub-clause (iv) of clause (n) of section 2, shall constitute a School Management Committee consisting of the elected representatives of the local authority, parents or guardians of children admitted in such school and teachers: Provided that atleast.....

Central Universities Act 2009 Schedule II

Title: Second Schedule

State: Central

Year: 2009

.....meeting of the Council be held in the beginning of the academic session. 37. Ordinances. how to be 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 in the following sub-clauses. (2) No Ordinances in respect of the matters enumerated in sub-section (1) of section 28 of this Act shall be made by the Executive Council unless a draft of such Ordinances has been proposed by the Academic Council. (3) The Executive Council shall not have power to amend any draft of any Ordinances 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 Ordinances 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 number of members of the.....

Finance (No. 2) Act 2009 Section 3

Title: Amendment of Section 2

State: Central

Year: 2009

.....2009, namely:-- "(xv) any sum of money or value of property referred to in clause (vii) of sub-section (2) of section 56;" ; (e) after clause (29B), the following clause shall be inserted, namely:-- '(29BA) "manufacture", with its grammatical variations, means a change in a non-living physical object or article or thing,-- (a) resulting in transformation of the object or article or thing into a new and distinct object or article or thing having a different name, character and use; or (b) bringing into existence of a new and distinct object or article or thing with a different chemical composition or integral structure;', (f) in clause (48),-- (i) in sub-clauses (a) and (b), after the words "public sector company", the words "or scheduled bank" shall respectively be inserted; (ii) after clause (c), the following Explanation shall be inserted, namely:-- 'Explanation.-- For the purposes of this clause, the expression "scheduled bank" shall have the meaning assigned to it in clause (ii) of the Explanation to sub-clause (c) of clause (viia) of sub-section (1) of section 36.'.

Finance (No. 2) Act 2009 Section 26

Title: Amendment of Section 56

State: Central

Year: 2009

In section 56 of the Income-tax Act, in sub-section (2),-- (a) with effect from the 1st day of October, 2009 -- (i) in clause (vi), after the words, figures and letters "on or after the 1st day of April, 2006", the words, figures and letters "but before the 1st day of October, 2009" shall be inserted; (ii) after clause (vi), the following clause shall be inserted, namely:-- '(vii) where an individual or a Hindu undivided family receives, in any previous year, from any person or persons on or after the 1st day of October, 2009,-- (a) any sum of money, without consideration, the aggregate value of which exceeds fifty thousand rupees, the whole of the aggregate value of such sum; (b) any immovable property,-- (i) without consideration, the stamp duty value of which exceeds fifty thousand rupees, the stamp duty value of such property; (ii) for a consideration which is less than the stamp duty value of the property by an amount exceeding fifty thousand rupees, the stamp duty value of such property as exceeds such consideration; (c) any property, other than immovable property,-- (i) without consideration, the aggregate fair market value of which exceeds fifty.....