Title : Liability of Representative Assessee
State : Central
Year : 1961
(1) Every representative assessee, as regards the income in respect of which he is a representative assessee, shall be subject to the same duties, responsibilities and liabilities as if the income were income received by or accruing to or in favour of him beneficially, and shall be liable to assessment in his own name in respect of that income; but any such assessment shall be deemed to be made upon him in his representative capacity, only, and the tax shall, subject to the other provisions contained in this Chapter, be levied upon and recovered from him in like manner and to the same extent as it would be leviable upon and recoverable from the person represented by him. (1A) Notwithstanding anything contained in sub-section (1), where any income in respect of which the person..... View Complete Act List Judgments citing this sectionTitle : Charge of Tax Where Share of Beneficiaries Unknown
State : Central
Year : 1961
(1) Subject to the provisions of sub-sections (2) and (3), where any income in respect of which the person mentioned in clauses (iii) and (iv) of sub-section (1) of section 160 are liable as representative assessees or any part thereof is not specifically receivable on behalf or for the benefit of any one person or where the individual shares of the persons on whose behalf or for whose benefit such income or such part thereof is receivable are indeterminate or unknown (such income, such part of the income and such persons being hereafter in this section referred to as relevant income, part of relevant income and beneficiaries, respectively), tax shall be charged on the relevant income or part of relevant income at the maximum marginal rate: Provided that in a case where (i) none of..... View Complete Act List Judgments citing this sectionTitle : A.assessment of Firms
State : Central
Year : 1961
1 [A.-Assessment of firms] ________________________ 1. Reintroduced by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Earlier, it was omitted by the Direct Tax Laws (Amendment) Act, 1987, with effect from the same date. View Complete Act List Judgments citing this sectionTitle : Deduction at Source and Advance Payment
State : Central
Year : 1961
(1) Notwithstanding that the regular assessment in respect of any income is to be made in a later assessment year, the tax on such income shall be payable by deduction or collection at source or by advance payment 1[or by payment under sub-section (1A) of section 192], as the case may be, in accordance with the provisions of this Chapter. (2) Nothing in this section shall prejudice the charge of tax on such income under the provisions of sub-section (1) of section 4. ___________________________ 1. Inserted by the Finance Act, 2002, with effect from 1st June, 2002 View Complete Act List Judgments citing this sectionTitle : Certificate for Deduction at Lower Rate
State : Central
Year : 1961
1(1) Subject to rules made under sub-section (2A) where, in the case of 2[any income of any person or sum payable to any person], income-tax is required to be deducted at the time of credit or, as the case may be, at the time of payment at the rates in force under the provisions of sections 192, 193, 194, 3[194A, 4[194C,194D,194G 5[,194H], 194-I, 194J, 194K, 194LA] and 195, the Assessing Officer is satisfied that the total income of the recipient justifies the deduction of income-tax at any lower rates or no deduction of income-tax, as the case may be, the Assessing Officer shall, on an application made by the assessee in this behalf, give to him such certificate as may be appropriate. (2) Where any such certificate is given, the person responsible for paying the income shall, until..... View Complete Act List Judgments citing this sectionTitle : Instalments of Advance Tax and Due Dates
State : Central
Year : 1961
(1) Advance tax on the current income calculated in the manner laid down in section 209 shall be payable by- (a) all the companies, who are liable to pay the same, in four instalments during each financial year and the due date of each instalment and the amount of such instalment shall be as specified in Table I below : TABLE I Due date of instalment Amount payable On or before the 15th June Not less than fifteen per cent of such advance tax. On or before the 15th September Not less than forty-five per cent of such advance tax, as reduced by the amount, if any, paid in the earlier instalment. On or before the 15th December Not less than seventy-five per cent of such..... View Complete Act List Judgments citing this sectionTitle : Stay of Proceedings in Pursuance of Certificate and Amendment or Cancellation Thereof
State : Central
Year : 1961
(1) It shall be lawful for the Tax Recovery Officer to grant time for the payment of any tax and when he does so, he shall stay the proceedings for the recovery of such tax until the expiry of the time so granted. (2) Where the order giving rise to a demand of tax for which a certificate has been drawn up is modified in appeal or other proceeding under this Act, and, as a consequence thereof, the demand is reduced but the order is the subject-matter of further proceeding under this Act, the Tax Recovery Officer shall stay the recovery of such part of the amount specified in the certificate as pertains to the said reduction for the period for which the appeal or other proceeding remains pending. (3) Where a certificate has been drawn up and subsequently the amount of the outstanding..... View Complete Act List Judgments citing this sectionTitle : Appeal by Person Denying Liability to Deduct Tax
State : Central
Year : 1961
1[Where under an agreement or other arrangement, the tax deductible on any income, other than interest, under section 195 is to be borne by the person by whom the income is payable, and such person having paid such tax to the credit of the Central Government, claims that no tax was required to be deducted on such income, he may appeal to the Commissioner (Appeals) for a declaration that no tax was deductible on such income.] _______________________________________ 1. Substituted by the Finance Act, 2007, with effect from 1st June, 2007. Prior to substitution, section 248 as amended by the Finance (No. 2) Act, 1998, with effect from 1st October, 1998, stood as under: 248. Appeal by person denying liability to deduct tax. - Any person having in accordance with the provisions of..... View Complete Act List Judgments citing this sectionTitle : Case Before High Court to Be Heard by Not Less Than Two Judges
State : Central
Year : 1961
(1) When an appeal has been filed before the High Court under section 260A, it shall be heard by a Bench of not less than two Judges of the High Court, and shall be decided in accordance with the opinion of such Judges or of the majority, if any, of such Judges. (2) Where there is no such majority, the Judges shall state the point of law upon which they differ and the case shall then be heard upon that point only by one or more of the other Judges of the High Court and such point shall be decided according to the opinion of the majority of the Judges who have heard the case including those who first heard it.] View Complete Act List Judgments citing this sectionTitle : Immovable Property in Respect of Which Proceedings for Acquisition May Be Taken.
State : Central
Year : 1961
(1) Where the competent authority has reason to believe that any immovable property of a fair market value exceeding one hundred thousand rupees has been transferred by a person (hereafter in this Chapter referred to as the transferor) to another person (hereafter in this Chapter referred to as the transferee) for an apparent consideration which is less than the fair market value of the property and that the consideration for such transfer as agreed to between the parties has not been truly stated in the instrument of transfer with the object of - (a) facilitating the reduction or evasion of the liability of the transferor to pay tax under this Act in respect of any income arising from the transfer; or (b) facilitating the concealment of any income or any moneys or other assets..... View Complete Act List Judgments citing this section