Bare Act Search Results

Income Tax Act, 1961 Section 48

Title: Mode of Computation

State: Central

Year: 1961

.....to seventy-five per cent of average rise in the Consumer Price Index for urban non-manual employees for the immediately preceding previous year to such previous year, by notification in the Official Gazette, specify, in this behalf.]] _____________________ 1. See rule 115A. For analysis, see Mashbra's Income-tax Rules. 2. Inserted by the Finance Act, 2000, with effect from 1st April, 2001. 3. Inserted by the Finance (No. 2) Act, 2004, with effect from 1st April, 2005. 4. See rule 115A. For analysis, see Mashbra's Income-tax Rules. 5. Substituted by the Finance Act, 2000, with retrospective effect from 1st April, 1993. Prior to substitution, clause (v) of the Explanation, stood as under: '(v) "Cost Inflation Index" for any year means such Index as the Central Government may, having regard to seventy-five per cent of average rise in the Consumer Price Index for urban non-manual employees for that year, by notification in the Official Gazette, specify in this behalf.'

Finance Act, 1992 Chapter III

Title: Direct Taxes Income-tax

State: Central

Year: 1992

.....section 3 of the Companies Act, 1956 (1 of 1956); (c) "Government company" shall have the meaning assigned to it in section 617 of the Companies Act, 1956 (1 of 1956).'. Section 15 - Amendment Of Section 37 In section 37 of the Income-tax Act, for sub-sections (2) and (2A), the following sub-section shall be substituted with effect from the 1st day of April, 1993, namely :- '(2) Notwithstanding anything contained in sub-section (1), any expenditure in the nature of entertainment expenditure incurred by any assessee during any previous year commencing on the 1st day of April, 1992 shall be allowed as follows :- (a) where the amount of such expenditure does not exceed ten thousand rupees, the whole of such amount; (b) in any other case, ten thousand rupees as increased by a sum equal to fifty per cent. of such expenditure in excess of ten thousand rupees. Explanation : For the purposes of this sub-section, "entertainment expenditure" includes - (i) the amount of any allowance in the nature of entertainment allowance paid by the assessee to any employee or other person; (ii) the amount of any expenditure in the nature of entertainment expenditure [not being.....

Finance Act, 1992 Section 24

Title: Substitution of New Section for Section 48

State: Central

Year: 1992

For section 48 of the Income-tax Act, the following section shall be substituted with effect from the 1st day of April, 1993, namely :- 48. Mode of computation. - The income chargeable under the head "Capital gains" shall be computed, by deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset the following amounts, namely :- (i) expenditure incurred wholly and exclusively in connection with such transfer; (ii) the cost of acquisition of the asset and the cost of any improvement thereto : Provided that in the case of an assessee, who is a non-resident, capital gains arising from the transfer of a capital asset being shares in, or debentures of, an Indian company shall be computed by converting the cost of acquisition, expenditure incurred wholly and exclusively in connection with such transfer and the full value of the consideration received or accruing as a result of the transfer of the capital asset into the same foreign currency as was initially utilised in the purchase of the shares or debentures, and the capital gains so computed in such foreign currency shall be reconverted into Indian currency, so.....

Income Tax Act, 1961 Complete Act

State: Central

Year: 1961

INCOME TAX ACT, 1961 INCOME TAX ACT, 1961 43 of 1961 [AS AMENDED BY FINANCE ACT, 2003] An Act to consolidate and amend the law relating to income-tax and super-tax BE it enacted by Parliament in the Twelfth Year of the Republic of India as follows : CHAPTER 1 PRELIMINARY Section 1 Short title, extent and commencement (1) This Act may be called the Income-tax Act, 1961. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act, it shall come into force on the 1st day of April, 1962. Section 2 Definitions 1 Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1) "advance tax" means the advance tax payable in accordance with the provisions of Chapter XVII-C;] 2 Renumbered as clause (1A) by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1A)] 3 For manner of computation of income which is partially agricultural and partially frombusiness, see rules 7, 7A, 7B and 8. For analysis, see Mashbra's Income-tax Rules."agricultural income" means - 4 Substituted by the Taxation Laws (Amendment) Act, 1970, w.r.e.f. 1-4-1962.[(a) any rent or revenue derived from land which is situated in India and is used for.....

Carriage by Air Act, 1972 Schedule 3

Title: The Third Schedule

State: Central

Year: 1972

.....upon under the form of a single contract or of a series of contracts, and it shall not lose its international character merely because one contract or a series of contracts is to be performed entirely within the territory of the same State. (5) These rules shall apply also to carriage as set out in Chapter V, subject to the terms contained therein. 2. (1) These rules shall apply to carriage performed by the State or by legally constituted public bodies provided it falls within the conditions laid down in rule 1. (2) In the carriage of postal items, the carrier shall be liable only to the relevant postal administration in accordance with the rules applicable to the relationship between the carriers and the postal administration. (3) Except as provided in sub-rule (2), these rules shall not apply to the carriage of postal items. CHAPTER II Documentation and duties of the parties relating to the carriage of passengers, baggage and cargo 3. (1) In respect of carriage of passengers, an individual or collective document of carriage shall be delivered containing-- (a) an indication of the places of departure and destination; (b) if the places of departure and.....

Carriage by Air (Amendment) Act 2009 Section 10

Title: Insertion of Third Schedule and Anexure

State: Central

Year: 2009

.....upon under the form of a single contract or of a series of contracts, and it shall not lose its international character merely because one contract or a series of contracts is to be performed entirely within the territory of the same State. (5) These rules shall apply also to carriage as set out in Chapter V, subject to the terms contained therein. 2. (1) These rules shall apply to carriage performed by the State or by legally constituted public bodies provided it falls within the conditions laid down in rule 1. (2) In the carriage of postal items, the carrier shall be liable only to the relevant postal administration in accordance with the rules applicable to the relationship between the carriers and the postal administration. (3) Except as provided in sub-rule (2), these rules shall not apply to the carriage of postal items. CHAPTER II Documentation and duties of the parties relating to the carriage of passengers, baggage and cargo 3. (1) In respect of carriage of passengers, an individual or collective document of carriage shall be delivered containing-- (a) an indication of the places of departure and destination; (b) if the places of departure and.....

Insurance Regulatory and Development Authority (Assets, Liabilities, and Solvency Margin of Insurers) Regulations, 2000 Complete Act

State: Central

Year: 2000

.....(a) "valuation date", in relation to an actuarial investigation, means the date to which the investigation relates. (b) "universal life contracts" means those contracts that are presented in an unbundled form. The contracts where policy-holders have an option to invest in units of Insurer's segregated fund(s) shall be treated as "linked business", and others shall be treated as "non-linked business". (c) "segregated funds" means funds earmarked in respect of linked business. 2. Method of Determination of Mathematical Reserves.-(1) Mathematical Reserves shall be determined separately for each contract by a prospective method of valuation in accordance with sub-paras (2) to (4). (2) The valuation method shall take into account all prospective contingencies under which any premiums (by the policy-holder) or benefits (to the policy-holder/beneflciary) may be payable under the policy, as determined by the policy conditions. The level of benefits shall take into account the reasonable expectations of policy-holders (with regard to bonuses, including terminal bonuses, if any) and any established practices of an insurer for payment of benefits. (3) The valuation method shall take.....

Merchant Shipping Act, 1958 Complete Act

State: Central

Year: 1958

.....To meet the immediate requirements of the country soon after independence the Merchant Shipping Laws. (Extension to Acceding States and Amendment) Act, 1949 was enacted, by which the British Merchant Shipping Acts 1894 to 1938 were extended to the Acceding States (later known as Part B States) and Indian Consular Officers were empowered to perform functions in relation to Indian ships outside India and provision was made to enable Government to prescribe the proper national colours for ships registered in India, The Control of Shipping Act, 1947, was another short-term measure which continued the war-time control over Indian shipping and controlled the coastal trade by a system of licensing. This Act, which has been renewed from time to time, is due to expire on the 31st March, 1958. 3. The present Bill revises and consolidates all laws in force in India relating to merchant shipping, whether passed by the British Parliament or the Indian Legislature, and makes provision for the matters discussed in the succeedihg paragraphs, which also indicate the principal changes made in the law ........... -Gaz. of Ind., 1958, Extra., Pt. II, S. 2, p. 203.Act 21 of 1966.- The minimum.....

Central Excise Tariff (Amendment) Act, 2004 Chapter XL

Title: Rubber and Articles Thereof

State: Central

Year: 2004

.....products, whether or not vulcanised or hard: natural rubber, balata, gutta-percha, guayule, chicle and similar natural gums, synthetic rubber, factice derived from oils, and such substances reclaimed. 2. This Chapter does not cover: (a) goods of Section XI (textiles and textile articles); (b) footwear or parts thereof of Chapter 64; (c) headgear or parts thereof (including bathing caps) of Chapter 65; (d) mechanical or electrical appliances or parts thereof of Section XVI (including electrical goods of all kinds), of hard rubber; (e) articles of Chapter 90,92,94 or 96; or (f) articles of Chapter 95 (other than sports gloves, mittens and mitts and articles of headings 4011 to 4013). 3. In headings 4001 to 4003 and 4005, the expression "primary forms" applies only to the following forms: (a) liquids and pastes (including latex, whether or not pre-vulcanised, and other dispersions and solutions); (b) blocks of irregular shape, lumps, bales, powders, granules, crumbs and similar bulk forms. 4. In Note 1 to this Chapter and in heading 4002, the expression "synthetic rubber" applies to: (a) unsaturated synthetic substances which can be irreversibly.....

Central Excise Tariff (Amendment) Act, 2004 Chapter LXXXIX

Title: Ships, Boats and Floating Structures

State: Central

Year: 2004

.....for transport of the goods and other vessels for the transport of both persons and goods u Nil 8902 FISHING VESSELS; FACTORY SHIPS AND OTHER VESSELS FOR PROCESSING OR PRESERVING FISHERY PRODUCTS 8902 00 - Fishing vessels; factory ships and other vessels for processing or preserving fishery products: 8902 00 10 --- Trawlers and other fishing vessels u Nil 8902 00 90 -- Other u Nil 8903 YACHTS AND OTHER VESSELS FOR PLEASURE OR SPORTS; ROWING BOATS AND CANOES 8903 10 00 - Inflatable u 16% nbsp; - Other: 8903 91 00 -- Sail boats, with or without auxiliary motor u 16% 8903 92 00 -- Motorboats, other than outboard motorboats u 16% 8903 99 - Other: 8903 99 10 --- Canoes u 16% 8903 99 90 -- Other u 16% 8904 00 00 TUGS AND PUSHER CRAFT u Nil 8905 LIGHT-VESSELS, FIRE-FLOATS, DREDGERS, FLOATING CRANES, AND OTHER VESSELS THE.....