Bare Act Search Results

Finance Act, 1997 Complete Act

State: Central

Year: 1997

.....actually paid and the subsequent previous year or years during which the licence, for which the fee is paid, shall be in force; (ii) 'appropriate fraction' means the fraction the numerator of which is one and the denominator of which is the total number of the relevant previous years; (iii) 'payment has actually been made' means the actual payment of expenditure irrespective of the previous year in which the liability for the expenditure was incurred according to the method of accounting regularly employed by the assessee. (2) Where the licence is transferred and the proceeds of the transfer (so far as they consist of capital sums) are less than the expenditure incurred remaining unallowed, a deduction equal to such expenditure remaining unallowed, as reduced by the proceeds of the transfer, shall be allowed in respect of the previous year in which the licence is transferred. (3) Where the whole or any part of the licence is transferred and the proceeds of the transfer (so far as they consist of capital sums) exceed the amount of the expenditure incurred remaining unallowed, so much of the excess as does not exceed the difference between the expenditure incurred to obtain the.....

Finance Act 1997 Chapter III

Title: Direct Taxes

State: Central

Year: 1997

.....of a recognised stock exchange" means the membership of a stock exchange in India which is recognised under the provisions of the Securities Contract (Regulation) Act, 1956 (42 of 1956); (xii) any transfer of a capital asset, being land of sick industrial company, made under a scheme prepared and sanctioned under section 18 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), where such sick industrial company is being managed by its workers' co-operative : Provided that such transfer is made during the period commencing from the previous year in which the said company has become a sick industrial company under sub-section (1) of section 17 of that Act and ending with the previous year during which the entire net worth of such company becomes equal to or exceeds the accumulated losses. Explanation. - For the purposes of this clause, "net worth" shall have the meaning assigned to it in clause (ga) of sub-section (1) of section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986).'. Section 17 - Amendment Of Section 47A Section 47A of the Income-tax Act shall be renumbered as sub-section (1) thereof and after sub-section.....

Finance Act 1997 Section 23

Title: Amendment of Section 80g

State: Central

Year: 1997

In section 80G of the Income-tax Act with effect from the 1st day of April, 1998, - (a) in sub-section (1), in clause (i), after the word, brackets, figures and letters "sub-clause (iiihe)", the words, brackets, figures and letters "or sub-clause (iiihf)" shall be inserted; (b) in sub-section (2), in clause (a), after sub-clause (iiihe), the following sub-clause shall be inserted, namely :- "(iiihf) the Chief Minister's Relief Fund or the Lieutenant Governor's Relief Fund in respect of any State or Union territory, as the case may be : Provided that such Fund is - (a) the only Fund of its kind established in the State or the Union territory, as the case may be; (b) under the overall control of the Chief Secretary or the Department of Finance of the State or the Union territory, as the case may be; (c) administered in such manner as may be specified by the State Government or the Lieutenant Governor, as the case may be; or".

Finance Act 1997 Section 25

Title: Amendment of Section 80-ia

State: Central

Year: 1997

In section 80-IA of the Income-tax Act, - (a) in sub-section (1), after the words "scientific and industrial research and development", - (i) the words "or providing telecommunication services whether basic or cellular" shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1996; (ii) after the words "or providing telecommunication services whether basic or cellular" as so inserted, the words "or operating an industrial park or commercial production of mineral oil in the North Eastern Region" shall be inserted with effect from the 1st day of April, 1998; (b) in sub-section (4), with effect from the 1st day of April, 1998, - (i) for the portion beginning with the words "This section applies -" and ending with the words, brackets and figures "either of the conditions (iii) or (iv) are fulfilled, namely :-", the following shall be substituted, namely :- "This section applies to the business of any hotel - (a) where conditions (i), (ii) and (v); and (b) either of the conditions (iii) or (iv); or (c) either of the conditions (iiia) or (iva), are fulfilled, namely :-"; (ii) after clause (iii), the following clause shall.....

Finance Act 1997 Section 3

Title: Amendment of Section 10

State: Central

Year: 1997

.....the" shall be substituted; (f) in clause (23G), - (i) the words, brackets, figures and letters, "which fulfils the conditions specified in sub-section (4A) of section 80-IA" shall be omitted; (ii) in the Explanation, for clause (c), the following clause shall be substituted, namely :- '(c) "infrastructure facility" means - (i) a road, highway, bridge, airport, port, rail system or any other public facility of a similar nature as may be notified by the Board in this behalf in the Official Gazette, which fulfils the conditions specified in sub-section (4A) of section 80-IA; (ii) a water supply project, irrigation project, sanitation and sewerage system which fulfils the conditions specified in sub-section (4A) of section 80-IA; (iii) a project for generation or generation and distribution of electricity or any other form of power where such project starts generating power on or after the 1st day of April, 1993; (iv) a project for providing telecommunication services on or after the 1st day of April, 1995;'; (g) clauses (26AA) and (28) shall be omitted. (h) after clause (32), the following clause shall be inserted, namely :- "(33) any income by way of.....

Finance Act 1997 Chapter VI

Title: Service Tax

State: Central

Year: 1997

.....documents, goods or articles; (13) "custom house agent" means a person licensed, temporarily or otherwise, under the regulations made under sub-section (2) of section 146 of the Customs Act, 1962 (52 of 1962); (14) "general insurance business" has the meaning assigned to it in clause (g) of section 3 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972); (15) "goods" has the meaning assigned to it in clause (7) of section 2 of the Sale of Goods Act, 1930 (3 of 1930); (16) "goods carriage" has the meaning assigned to it in clause (14) of section 2 of the Motor Vehicles Act, 1988 (59 of 1988); (17) "goods transport operator" means any commercial concern engaged in the transportation of goods but does not include a courier agency; (18) "insurer" means any person carrying on the general insurance business in India; (19) "mandap" means any immovable property as defined in section 3 of the Transfer of Property Act, 1882 (4 of 1882), and includes any furniture, fixtures, light fittings and floor coverings therein let out for consideration for organising any official, social or business function; (20) "mandap keeper" means a person who allows.....

Finance Act 1997 Section 88

Title: Amendment of Act 32 of 1994

State: Central

Year: 1997

.....documents, goods or articles; (13) "custom house agent" means a person licensed, temporarily or otherwise, under the regulations made under sub-section (2) of section 146 of the Customs Act, 1962 (52 of 1962); (14) "general insurance business" has the meaning assigned to it in clause (g) of section 3 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972); (15) "goods" has the meaning assigned to it in clause (7) of section 2 of the Sale of Goods Act, 1930 (3 of 1930); (16) "goods carriage" has the meaning assigned to it in clause (14) of section 2 of the Motor Vehicles Act, 1988 (59 of 1988); (17) "goods transport operator" means any commercial concern engaged in the transportation of goods but does not include a courier agency; (18) "insurer" means any person carrying on the general insurance business in India; (19) "mandap" means any immovable property as defined in section 3 of the Transfer of Property Act, 1882 (4 of 1882), and includes any furniture, fixtures, light fittings and floor coverings therein let out for consideration for organising any official, social or business function; (20) "mandap keeper" means a person who allows.....

Finance Act 1997 Section 35

Title: Amendment of Section 115c

State: Central

Year: 1997

In section 115C of the Income-tax Act, in clause (c), for the words "income derived", the words, figures and letter "income derived other than dividends referred to in section 115-O" shall be substituted with effect from the 1st day of April, 1998.

Netaji Subhas Open University Act, 1997 Complete Act

State: West Bengal

Year: 1997

NETAJI SUBHAS OPEN UNIVERSITY ACT, 1997 NETAJI SUBHAS OPEN UNIVERSITY ACT, 1997 19 of 1997 An Act to establish and incorporate an open university (mukta viswavidyalaya) in the State of West Bengal and to provide for matters connected therewith or incidental thereto. WHEREAS it is expedient to establish an open university in the State of West Bengal to provide educational opportunities to all those belonging to the backward and weaker sections of society as well as the students who cannot be accommodated in institutions of higher learning owing to socio-economic conditions and other limitations and to promote equality of opportunity for higher education for a large segment of the population, including those who are in employment and women (including housewives), specially in the remote and inaccessible areas, as also adults who wish to upgrade their knowledge in various fields, through correspondence courses, contact programmes, study centres and various forms of mass media, encouraging and providing instruction, teaching, training and research in various branches of learning and courses of study, promoting advancement and dissemination of knowledge and learning and.....

West Bengal Law Clerks Act, 1997 Complete Act

State: West Bengal

Year: 1997

.....this Act, and also includes such other authority or authorities as may be prescribed; (d) "prescribed" means prescribed by rules made under this Act; (e) "right to act" means the right to do one or all of the following acts: (i) to accept employment under an advocate to assist him in the work of his legal profession or to enter into an agreement with an advocate for the purpose of assisting him in the work of his legal profession; (ii) to present application signed by an advocate of the parties to a litigation for information, supply of form, return of document, (iii) to take delivery of copies or information, and to tender money, on behalf of an advocate; (iv) to identify persons swearing affidavits; (v) to take notes from the cause lists and books of information regarding dates of hearing, processes, process-fees due, and like matters; (vi) to file before an officer of any court, tribunal or other authority or person legally authorised to take evidence, whether on oath or not, any document, material or thing required to be filed before such court, tribunal or other authority or person on behalf of a litigant, provided such document, material or thing is accompanied by a.....