Bare Act Search Results

Finance Act, 2012, (Central) Chapter IV

Title: Indirect Taxes

State: Central

Year: 2012

Chapter IV INDIRECT TAXES

Banking Laws (Amendment) Act, 2012 Complete Act

State: Central

Year: 2012

.....Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 and to make consequential amendments in certain other enactments. Be it enacted by Parliament in the Sixty-third Year of the Republic of India as follows:" CHAPTER I PRELIMINARY 1. Short title and commencement." (1) This Act may be called the Banking Laws (Amendment) Act, 2012. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint: Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. CHAPTER II AMENDMENTS TO THE BANKING REGULATION ACT, 1949 2. Amendment of Section 50." In Section 5 of the Banking Regulation Act, 1949 (hereinafter in the chapter referred to as the principal Act), for Clause (a), the following Clause shall be substituted, namely" ˜( a) ˜˜approved securities'' means the securities issued by the Central Government or any State Government or such other securities as may be specified by the.....

Finance Act, 2012, (Central) Section 40

Title: Insertion of New Chapter X

State: Central

Year: 2012

.....purpose of obtaining a tax benefit, if the main purpose of a step in, or a part of, the arrangement is to obtain a tax benefit, notwithstanding the fact that the main purpose of the whole arrangement is not to obtain a tax benefit. 97. Arrangement to lack commercial substance.-- (1) An arrangement shall be deemed to lack commercial substance if-- (a) the substance or effect of the arrangement as a whole, is inconsistent with, or differs significantly from, the form of its individual steps or a part; or (b) it involves or includes-- (i) round trip financing; (ii) an accommodating party; (iii) elements that have effect of offsetting or cancelling each other; or (iv) a transaction which is conducted through one or more persons and disguises the value, location, source, ownership or control of funds which is the subject matter of such transaction; or (c) it involves the location of an asset or of a transaction or of the place of residence of any party which is without any substantial commercial purpose other than obtaining a tax benefit (but for the provisions of this Chapter) for a party. (2) For the purposes of sub-section (1), round trip financing includes any.....

The Uttarakhand Audit Act, 2012 Complete Act

State: Uttarakhand

Year: 2012

THE UTTARAKHAND AUDIT ACT, 2012 THE UTTARAKHAND AUDIT ACT, 2012 [Act No. 02 of 2012] PREAMBLE An Act to make provision for, and to regulate audit of all Government machineries, Public Corporation, Governmental Companies, Institutions, Statutory Authorities, Panchayati Raj Institutions, Municipalities, Urban Local Bodies, Governmental Committees in the State of Uttarakhand. Be it enacted by the Legislature of State of Uttarakhand in the Sixty-Third Year of the Republic of India as follows: - Section 1 - Short title, extent and commencement (1) This Act may be called the Uttarakhand Audit Act, 2012. (2) It extends to the whole of Uttarakhand. (3) It shall come into force on such date as the State Government may, by notification, appoint in this behalf. Section 2 - Definitions In this Act :- (a) 'Audit' includes test audit, concurrent audit cent-per-cent audit and special audit and also inspection of accounts by the officers appointed under section 3; (b) 'Director' means the Director, Audit (with Local Funds Audit and Co-operative, Panchayat Audit) Department, Uttarakhand appointed under section 3 and interalia includes such officer on whom powers.....

The Chhattisgarh Food Security Act, 2012 Complete Act

State: Chattisgarh

Year: 2012

THE CHHATTISGARH FOOD SECURITY ACT, 2012 THE CHHATTISGARH FOOD SECURITY ACT, 2012 [Act No. 5 of 2013] ( Published in the Chhattisgarh Rajpatra (Asadharan) dated 18-1-2013 Pages 36(20-33).) [18th January, 2013] PREAMBLE An Act to provide for food and nutritional security by ensuring access to adequate quantity of food and other requirements of good nutrition for people of the State, at affordable prices, at all times to live a life with dignity and for matters connected therewith or incidental thereto. Be it enacted by the Chhattisgarh Legislature in the Sixty-third Year of the Republic of India, as follows:-- Chapter I - PRELIMINARY THE CHHATTISGARH FOOD SECURITY ACT, 2012 [Act No. 5 of 2013] ( Published in the Chhattisgarh Rajpatra (Asadharan) dated 18-1-2013 Pages 36(20-33).) [18th January, 2013] PREAMBLE An Act to provide for food and nutritional security by ensuring access to adequate quantity of food and other requirements of good nutrition for people of the State, at affordable prices, at all times to live a life with dignity and for matters connected therewith or incidental thereto. Be it enacted by the Chhattisgarh Legislature in the.....

The Haryana Registration and Regulation of Societies Act, 2012 Complete Act

State: Haryana

Year: 2012

.....of flats or tenement or condominium or floor space owners pursuant to the requirements as laid down under the Haryana Apartment Ownership Act, 1983 (Act 10 of 1983) or a welfare organization formed for housing projects or a resident welfare organization for the operation, management and maintenance of facilities for the residents or civic amenities of any defined area; (xi) the collection of natural history, mechanical and philosophical inventions, instruments or designs etc.; and (xii) implementation and promotion of any Government sponsored schemes in the State: Provided that no Society shall be registered under the Act unless it prohibits the payment of any dividend or distribution of any assets, income or profits to its members or their dependents or legal heirs except where a Society has been formed or established by the contributions of share holders or members in the nature of a housing Society or a welfare association of flats or tenement or floor space owners pursuant to the requirements laid down under the Haryana Apartment Ownership Act, 1983 (Act 10 of 1983) or a resident welfare association for the operation, management and maintenance of facilities.....

Finance Act, 2012, (Central) Schedule

Title: the First Schedule

State: Central

Year: 2012

.....any debentures issued by a company where such debentures are listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder; (C) any security of the Central or State Government (vi) on any other income 10 per cent.; (b) where the person is not resident in India (i) in the case of a non-resident Indian (A) on any investment income 20 per cent.; (B) on income by way of long-term capital gains referred to in section 115E or sub-clause (iii) of clause (c) of sub-section (1) of section 112. 10 per cent.; (C) on income by way of short-term capital gains referred to in section 111A 15 per cent.; (D) on other income by way of long-term capital gains [not being long-term capital gains referred to in clauses (33), (36) and (38) of section 10] 20 per cent.; (E) on income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency (not being income by way of interest referred to in section 194LB or section 194LC) 20 per cent.; (F) on income by way of royalty payable by.....

Finance Act, 2012, (Central) Section 129

Title: Amendment of Section 4

State: Central

Year: 2012

In the Central Excise Act, 1944(1 of 1944) (hereinafter referred to as the Central Excise Act), in section 4, in sub-section (3), in clause (b), in the Explanation, for clause (i), the following clause shall be substituted, namely:-- '(i) "inter-connected undertakings" means two or more undertakings which are inter-connected with each other in any of the following manners, namely:-- (A) if one owns or controls the other; (B) where the undertakings are owned by firms, if such firms have one or more common partners; (C) where the undertakings are owned by bodies corporate,-- (I) if one body corporate manages the other body corporate; or (II) if one body corporate is a subsidiary of the other body corporate; or (III) if the bodies corporate are under the same management; or (IV) if one body corporate exercises control over the other body corporate in any other manner; (D) where one undertaking is owned by a body corporate and the other is owned by a firm, if one or more partners of the firm,-- (I) hold, directly or indirectly, not less than fifty per cent. of the shares, whether preference or equity, of the body corporate; or (II) exercise control, directly or.....

Finance Act, 2012, (Central) Section 46

Title: Amendment of Section 115jb

State: Central

Year: 2012

.....with the provisions of Part II of Schedule VI to the Companies Act, 1956(1 of 1956); or (b) being a company, to which the proviso to sub-section (2) of section 211 of the Companies Act, 1956(1 of 1956) is applicable, shall, for the purposes of this section, prepare its profit and loss account for the relevant previous year in accordance with the provisions of the Act governing such company:"; (ii) in Explanation 1, after clause (i), for the words, brackets and letters "if any amount referred to in clauses (a) to (i) is debited to the profit and loss account, and as reduced by,--", the following shall be substituted, namely:-- "(j) the amount standing in revaluation reserve relating to revalued asset on the retirement or disposal of such asset, if any amount referred to in clauses (a) to (i) is debited to the profit and loss account or if any amount referred to in clause (j) is not credited to the profit and loss account, and as reduced by,--". (iii) after Explanation 2, the following Explanation shall be inserted, namely:- Explanation 3.- For the removal of doubts, it is hereby clarified that for the purposes of this section, the assessee, being a company to.....

Banking Laws (Amendment) Act, 2012, (Central) Section 4

Title: Insertion of New Section 12b

State: Central

Year: 2012

After section 12A of the principal Act, the following section shall be inserted, namely:-- 12B. Regulation of acquisition of shares or voting rights.-- (1) No person (hereinafter referred to as "the applicant") shall, except with the previous approval of the Reserve Bank, on an application being made, acquire or agree to acquire, directly or indirectly, by himself or acting in concert with any other person, shares of a banking company or voting rights therein, which acquisition taken together with shares and voting rights, if any, held by him or his relative or associate enterprise or person acting in concert with him, makes the applicant to hold five per cent. or more of the paid-up share capital of such banking company or entitles him to exercise five per cent. or more of the voting rights in such banking company. Explanation 1.--For the purposes of this sub-section,-- (a) "associate enterprise" means a company, whether incorporated or not, which,-- (i) is a holding company or a subsidiary company of the applicant; or (ii) is a joint venture of the applicant; or (iii) controls the composition of the Board of Directors or other body governing the applicant; or .....