Title : Meaning of Associated Enterprise
State : Central
Year : 1961
1[(1) For the purposes of this section and sections 92, 92B, 92C, 92D, 92E and 92F, associated enterprise, in relation to another enterprise, means an enterprise (a) which participates, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise ; or (b) in respect of which one or more persons who participate, directly or indirectly, or through one or more intermediaries, in its management or control or capital, are the same persons who participate, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise. 2[(2) For the purposes of sub-section (1), two enterprises shall be deemed to be associated enterprises if, at any time during the previous..... View Complete Act List Judgments citing this sectionTitle : Fringe Benefits
State : Central
Year : 1961
(1) For the purposes of this Chapter, fringe benefits means any consideration for employment provided by way of - (a) any privilege, service, facility or amenity, directly or indirectly, provided by an employer, whether by way of reimbursement or otherwise, to his employees (including former employee or employees); (b) any free or concessional ticket provided by the employer for private journeys of his employees or their family members; 1[***] (c) any contribution by the employer to an approved superannuation fund for 2[employees ; and]. 3[(d) any specified security or sweat equity shares allotted or transferred, directly or indirectly by the employer free of cost or at concessional rate to his employees (including former employee or employees). Explanation : For the purposes..... View Complete Act List Judgments citing this sectionTitle : Return of Fringe Benefits
State : Central
Year : 1961
(1) Without prejudice to the provisions contained in section 139, every employer who during a previous year has paid or made provision for payment of fringe benefits to his employees, shall, on or before the due date, furnish or cause to be furnished a return of fringe benefits to the Assessing Officer in the prescribed1 form and verified in the prescribed1 manner and setting forth such other particulars as may be prescribed1, in respect of the previous year. Explanation : In this sub-section, due date means, - (a) where the employer is - (i) a company; or (ii) a person (other than a company) whose accounts are required to be audited under this Act or under any other law for the time being in force, the 2[30th day of September] of the assessment year; (b) in the case of any..... View Complete Act List Judgments citing this sectionTitle : Time Limit for Completion of Assessments and Reassessments
State : Central
Year : 1961
(1) No order of assessment shall be made under section 143 or section 144 at any time after the expiry of (a) two years from the end of the assessment year in which the income was first assessable ; or (b) one year from the end of the financial year in which a return or a revised return relating to the assessment year commencing on the 1st day of April, 1988, or any earlier assessment year, is filed under sub-section (4) or sub-section (5) of section 139, whichever is later : 1[Provided that in case the assessment year in which the income was first assessable is the assessment year commencing on the 1st day of April, 2004 or any subsequent assessment year, the provisions of clause (a) shall have effect as if for the words two years, the words twenty-one months had been..... View Complete Act List Judgments citing this sectionTitle : Assessment in Case of Search or Requisition
State : Central
Year : 1961
1[2[1] Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003, the Assessing Officer shall - (a) issue notice to such person requiring him to furnish within such period, as may be specified in the notice, the return of income in respect of each assessment year falling within six assessment years referred to in clause (b), in the prescribed3 form and verified in the prescribed3 manner and setting forth such other particulars as may be prescribed3 and the provisions of this Act shall, so far as may be, apply accordingly as if such return..... View Complete Act List Judgments citing this sectionTitle : Assessment of Income of Any Other Person
State : Central
Year : 1961
1[2[1] Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, where the Assessing Officer is satisfied that any money, bullion, jewellery or other valuable article or thing or books of account or documents seized or requisitioned belongs or belong to a person other than the person referred to in section 153A, then the books of account or documents or assets seized or requisitioned shall be handed over to the Assessing Officer having jurisdiction over such other person and that Assessing Officer shall proceed against each such other person and issue such other person notice and assess or reassess income of such other person in accordance with the provisions of section 153A :] 3[Provided that in case of such other person,..... View Complete Act List Judgments citing this sectionTitle : Who May Be Regarded as Agent
State : Central
Year : 1961
(1) For the purposes of this Act, agent, in relation to a non-resident, includes any person in India (a) who is employed by or on behalf of the non-resident; or (b) who has any business connection with the non-resident; or (c) from or through whom the non-resident is in receipt of any income, whether directly or indirectly; or (d) who is the trustee of the non-resident; and includes also any other person who, whether a resident or non-resident, has acquired by means of a transfer, a capital asset in India: Provided that a broker in India who, in respect of any transactions, does not deal directly with or on behalf of a non-resident principal but deals with or through a non-resident broker shall not be deemed to be an agent under this section in respect of such transactions,..... View Complete Act List Judgments citing this sectionTitle : Dividends
State : Central
Year : 1961
The principal officer of an Indian company or a company which has made the prescribed arrangements for the declaration and payment of dividends (including dividends on preference shares) within India, shall, before making any payment in cash or before issuing any cheque or warrant in respect of any dividend or before making any distribution or payment to a shareholder, who is resident in India, of any dividend within the meaning of sub-clause (a) or sub-clause (b) or sub-clause (c) or sub-clause (d) or sub-clause (e) of clause (22) of section 2, deduct from the amount of such dividend, income-tax at the rates in force: 1[Provided that no such deduction shall be made in the case of a shareholder, being an individual, if - (a) the dividend is paid by the company by an account payee..... View Complete Act List Judgments citing this sectionTitle : Interest Payable by Government
State : Central
Year : 1961
(1) The Central Government shall pay simple interest at fifteen per cent per annum on the amount by which the aggregate sum of any instalments of advance tax paid during any financial year in which they are payable under sections 207 to 213 exceeds the amount of the assessed tax from the 1st day of April next following the said financial year to the date of the regular assessment for the assessment year immediately following the said financial year, and where any such instalment is paid after the expiry of the financial year during which it is payable by reason of the provisions of section 213, interest as aforesaid shall also be payable on that instalment from the date of its payment to the date of regular assessment : Provided that in respect of any amount refunded on a provisional..... View Complete Act List Judgments citing this sectionTitle : [Omitted]
State : Central
Year : 1961
1[***] ______________________ 1. Omitted by the Finance Act, 2001, with effect from 1st June, 2001. Prior to omission, section 230A, stood as under : 230A. Restrictions on registration of transfers of immovable property in certain cases. (1) Notwithstanding anything contained in any other law for the time being in force, where any document required to be registered under the provisions of clause (a) to clause (e) of sub-section (1) of section 17 of the Indian Registration Act, 1908 (16 of 1908), purports to transfer, assign, limit, or extinguish the right, title or interest of any person to or in any property valued at more than five lakh rupees, no registering officer appointed under that Act shall register any such document, unless the Assessing Officer certifies that (a) such..... View Complete Act List Judgments citing this section