Title : Intimation of Assessment of Firm
State : Central
Year : 1961
Whenever, in respect of the assessment year commencing on the 1st day of April, 1992, or any earlier assessment year, a registered firm is assessed, or an unregistered firm is assessed, under the provisions of clause (b) of section 183, the Assessing Officer shall notify to the firm by an order in writing the amount of its total income assessed and the apportionment thereof between the several partners. View Complete Act List Judgments citing this sectionTitle : Charge of Tax Where Shares of Members in Association of Persons or Body of Individuals Unknown, Etc.
State : Central
Year : 1961
(1) Where the individual shares of the members of an association of persons or body of individuals (other than a company or a co-operative society or a society registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India) in the whole or any part of the income of such association or body are indeterminate or unknown, tax shall be charged on the total income of the association or body at the maximum marginal rate: Provided that, where the total income of any member of such association or body is chargeable to tax at a rate which is higher than the maximum marginal rate, tax shall be charged on the total income of the association or body at such higher rate. (2) Where, in the case of an association of..... View Complete Act List Judgments citing this sectionTitle : Assessment of Association of Persons or Body of Individuals or Artificial Juridical Person Formed for a Particular Event or Purpose
State : Central
Year : 1961
Notwithstanding anything contained in section 4, where it appears to the Assessing Officer that any association of persons or a body of individuals or an artificial juridical person, formed or established or incorporated for a particular event or purpose is likely to be dissolved in the assessment year in which such association of persons or a body of individuals or an artificial juridical person was formed or established or incorporated or immediately after such assessment year, the total income of such association or body or juridical person for the period from the expiry of the previous year for that assessment year up to the date of its dissolution shall be chargeable to tax in that assessment year, and the provisions of sub-sections (2) to (6) of section 174 shall, so far as may..... View Complete Act List Judgments citing this sectionTitle : Company in Liquidation
State : Central
Year : 1961
(1) Every person (a) who is the liquidator of any company which is being wound up, whether under the orders of a court or otherwise; or (b) who has been appointed the receiver of any assets of a company, (hereinafter referred to as the liquidator) shall, within thirty days after he has become such liquidator, give notice of his appointment as such to the Assessing Officer who is entitled to assess the income of the company. (2) The Assessing Officer shall, after making such inquiries or calling for such information as he may deem fit, notify to the liquidator within three months from the date on which he receives notice of the appointment of the liquidator the amount which, in the opinion of the Assessing Officer, would be sufficient to provide for any tax which is then, or is..... View Complete Act List Judgments citing this sectionTitle : Joint and Several Liability of Partners for Tax Payable by Firm
State : Central
Year : 1961
Every person who was, during the previous year, a partner of a firm, and the legal representative of any such person who is deceased, shall be jointly and severally liable along with the firm for the amount of tax, penalty or other sum payable by the firm for the assessment year to which such previous year is relevant, and all the provisions of this Act, so far as may be, shall apply to the assessment of such tax or imposition or levy of such penalty or other sum. View Complete Act List Judgments citing this sectionTitle : Insurance Commission
State : Central
Year : 1961
Any person responsible for paying to a resident any income by way of remuneration or reward, whether by way of commission or otherwise, for soliciting or procuring insurance business (including business relating to the continuance, renewal or revival of policies of insurance) shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rates in force : Provided that no deduction shall be made under this section from any such income credited or paid before the 1st day of June, 1973: Provided further that no dedduction shall be made under this section in a case where the amount of such income or, as the case may be, the..... View Complete Act List Judgments citing this sectionTitle : Conditions of Liability to Pay Advance Tax
State : Central
Year : 1961
Advance tax shall be payable during a financial year in every case where the amount of such tax payable by the assessee during that year, as computed in accordance with the provisions of this Chapter, is 1[ten thousand rupees] or more. _______________________ 1. Substituted by the Finance (No. 2) Act, 2009, with retrospective effect from 1st April, 2009 for the words : - five thousand rupees View Complete Act List Judgments citing this sectionTitle : Payment of Advance Tax by the Assessee of His Own Accord or in Pursuance of Order of Assessing Officer
State : Central
Year : 1961
(1) Every person who is liable to pay advance tax under section 208 (whether or not he has been previously assessed by way of regular assessment) shall, of his own accord, pay on or before each of the due dates specified in section , the appropriate percentage, specified in that section, of the advance tax on his current income, calculated in the manner laid down in section 209. (2) A person who pays any instalment or instalments of advance tax under sub-section (1), may increase or reduce the amount of advance tax payable in the remaining instalment or instalments to accord with his estimate of his current income and the advance tax payable thereon, and make payment of the said amount in the remaining instalment or instalments accordingly. (3) In the case of a person who has been..... View Complete Act List Judgments citing this sectionTitle : Refund on Appeal, Etc
State : Central
Year : 1961
Where, as a result of any order passed in appeal or other proceeding under this Act, refund of any amount becomes due to the assessee, the Assessing Officer shall, except as otherwise provided in this Act, refund the amount to the assessee without his having to make any claim in that behalf : Provided that where, by the order aforesaid, (a) an assessment is set aside or cancelled and an order of fresh assessment is directed to be made, the refund, if any, shall become due only on the making of such fresh assessment; (b) the assessment is annulled, the refund shall become due only of the amount, if any, of the tax paid in excess of the tax chargeable on the total income returned by the assessee. View Complete Act List Judgments citing this sectionTitle : Abetment of False Return, Etc.
State : Central
Year : 1961
If a person abets or induces in any manner another person to make and deliver an account or a statement or declaration relating to 1[any income or any fringe benefits chargeable to tax] which is false and which he either knows to be false or does not believe to be true or to commit an offence under sub-section (1) of section 276C, he shall be punishable, - (i) in a case where the amount of tax, penalty or interest which would have been evaded, if the declaration, account or statement had been accepted as true, or which is wilfully attempted to be evaded, exceeds one hundred thousand rupees, with rigorous imprisonment for a term which shall not be less than six months but which may extend to seven years and with fine ; (ii) in any other case, with rigorous imprisonment for a term..... View Complete Act List Judgments citing this section