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Home Bare Acts Phrase: longIncome Tax Act, 1961 Section 112
Title: Tax on Long-term Capital Gains
State: Central
Year: 1961
.....the purposes of this sub-section, (a) listed securities means the securities -- (i) as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (32 of 1956) ; and (ii) listed in any recognised stock exchange in India ; (b) unit shall have the meaning assigned to it in clause (b) of Explanation to section 115AB.] (2) Where the gross total income of an assessee includes any income arising from the transfer of a long-term capital asset, the gross total income shall be reduced by the amount of such income and the deduction under Chapter VIA shall be allowed as if the gross total income as so reduced were the gross total income of the assessee. (3) Where the total income of an assessee includes any income arising from the transfer of a long-term capital asset, the total income shall be reduced by the amount of such income and the rebate under section 88 shall be allowed from the income-tax on the total income as so reduced. _____________________ 1. Proviso omitted by the Finance Act, 1995, with effect from 1st April, 1996. 1a. Inserted by the Finance Act, 1999 with effect from 1st April, 2000. 2. Substituted for being listed.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 54EB
Title: Capital Gain on Transfer of Long-term Capital Assets Not to Be Charged in Certain Cases
State: Central
Year: 1961
.....any part of the capital gain received or accrued as a result of transfer of the original asset in any long-term specified asset and such assessee takes any loan or advance on the security of such specified asset, he shall be deemed to have converted (otherwise than by transfer) such specified asset into money on the date on which such loan or advance is taken. (3) Where the cost of the long-term specified asset has been taken into account for the purposes of clause (a) or clause (b) of sub-section (1), a deduction from the amount of income-tax with reference to such cost shall not be allowed under section 88. __________________ 1. Inserted by the Finance Act, 2000, with effect from 1st April, 2001.
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 115E
Title: Tax on Investment Income and Long-term Capital Gains
State: Central
Year: 1961
Where the total income of an assessee, being a non-resident Indian, includes- (a) any income from investment or income from long-term capital gains of an asset other than a specified asset ; (b) income by way of long-term capital gains, the tax payable by him shall be the aggregate of - (i) the amount of income-tax calculated on the income in respect of investment income referred to in clause (a), if any, included in the total income, at the rate of twenty per cent ; (ii) the amount of income-tax calculated on the income by way of long-term capital gains referred to in clause (b), if any, included in the total income, at the rate of ten per cent ; and (iii) the amount of income-tax with which he would have been chargeable had his total income been reduced by the amount of income referred to in clauses (a) and (b).
View Complete Act List Judgments citing this sectionWild Life (Protection) Amendment Act, 2002 Section 2
Title: Amendment of Long Title
State: Central
Year: 2002
In the Wild Life (Protection) Act, 1972 (53 of 1972) (hereinafter referred to as the principal Act), for the long title, the following long title shall be substituted, namely:-- "An Act to provide for the protection of wild animals, birds and plants and for matters connected therewith or ancillary or incidental thereto with a view to ensuring the ecological and environmental security of the country.".
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 46A
Title: Contribution to National Rural Credit (Long Term Operations) Fund and National Rural Credit (Stabilisation) Fund
State: Central
Year: 1934
1 [46A. Contribution to National Rural Credit (Long Term Operations) Fund and National Rural Credit (Stabilisation) Fund The Bank shall contribute every year such sums of money as it may consider necessary and feasible to do so, to the National Rural Credit (Long Term Operations) Fund and the National Rural Credit (Stabilisation) Fund established and maintained by the National Bank under sections 42 and 43, respectively, of the National Bank for Agriculture and Rural Development Act, 1981.] _______________________ 1. Substituted by Act 61 of 1981, section 61 and Schedule II, for sections 46A and 46B (w.e.f. 12-7-1982).
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 46C
Title: National Industrial Credit (Long Term Operations) Fund
State: Central
Year: 1934
.....the Development Bank of loans and advances for the purpose of the purchase of, or subscription to, stocks, shares, bonds or debentures issued by the Industrial Finance Corporation of India, a State Financial Corporation or any other financial institution which may be notified by the Central Government in this behalf, or for the purposes of any other business of the Development Bank; (b) the purchasing of bonds and debentures issued by the Development Bank." omitted by Act 53 of 2003, section 12 and Schedule, Ft. I. 3. Inserted by Act 28 of 1981, section 40 and Schedule II (w.e.f. 1-1-1982). 4. Inserted by Act 62 of 1984, section 71 and Schedule III (w.e.f. 20-3-1985). 5. Inserted by Act 39 of 1989, section 53 and Schedule II (w.e.f. 7-3-1990). 6. The proviso and sub-section (2) omitted by Act 62 of 1948, section 7 and Schedule (w.e.f. 1-1-1949).
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 46D
Title: National Housing Credit (Long Term Operations) Fund
State: Central
Year: 1934
1 [46D. National Housing Credit (Long Term Operations) Fund (1) The Bank shall establish and maintain a Fund to be known as the National Housing Credit (Long Term Operations) Fund to which shall be credited every year such sums of money as it may consider necessary. (2) The amount in the said Fund shall be applied by the Bank only to the following objects namely:- (a) the making to the National Housing Bank of loans and advances for the purpose of any business of the National Housing Bank; (b) the purchasing of bonds and debentures issued by the National Housing Bank.] _______________________ 1. Inserted by Act 53 of 1987, section 56 and the Second Schedule (w.e.f. 9-7-1988).
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 54EA
Title: Capital Gain on Transfer of Long-term Capital Assets Not to Be Charged in the Case of Investment in Specified Securities
State: Central
Year: 1961
.....converted (otherwise than by transfer) such specified securities into money on the date on which such loan or advance is taken. (3) Where the cost of the specified securities has been taken into account for the purposes of clause (a) or clause (b) of sub-section (1), a rebate with reference to such cost shall not be allowed under section 88. Explanation : For the purposes of this section, - (a) "cost", in relation to any specified securities, means the amount invested in such specified securities out of the net consideration received or accruing as a result of the transfer of the original asset; (b) "net consideration", in relation to the transfer of a capital asset, means the full value of the consideration received or accruing as a result of the transfer of the capital asset as reduced by the expenditure incurred wholly and exclusively in connection with such transfer. ______________ 1. Inserted by the Finance Act, 2000, with effect from 1st April, 2001.
View Complete Act List Judgments citing this sectionRailway Protection Force (Amendment) Act, 1985 Section 2
Title: Amendment of Long Title
State: Central
Year: 1985
In the Railway Force Act, 1957 (23 of 1957) (hereinafter referred to as the principal Act), for long title, the following long title shall be substituted, namely:- "An Act to provide for the constitution and regulation of an armed force of the Union for the better protection and security of railway property and for matters connected therewith".
View Complete Act List Judgments citing this sectionPre-natal Diagnostic Techniques (Regulation and Prevention of Misuse) Amendment Act, 2002 Section 2
Title: Substitution of Long Title
State: Central
Year: 2002
In the Pre-natal Diagnostic Techniques (Regulation and Prevention of Misuse)Act, 1994 (57 of 1994) (hereinafter referred to as the principal Act), for the long title, the following long title shall be substituted, namely:-- "An Act to provide for the prohibition of sex selection, before or after conception, and for regulation of pre-natal diagnostic techniques for the purposes of detecting genetic abnormalities or metabolic disorders or chromosomal abnormalities or certain congenital malformations or sex-linked disorders and for the prevention of their misuse for sex determination leading to female foeticide and for matters connected therewith or incidental thereto.".
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