Bare Act Search Results

Finance Act, 1983 Section 36

Title: Insertion of New Chapter Xii-a

State: Central

Year: 1983

.....into money. 115G. Return of income not to be filed in certain cases. - It shall not be necessary for a nonresident Indian to furnish under sub-section (1) of section 139 A return of his income if - (a) his total income in respect of which he is assessable under this Act during the previous year consisted only of investment income or income by way of long-term capital gains or both; and (b) the tax deductible at source under the provisions of Chapter XVII-B has been deducted from such income. 115H. Benefit under Chapter to be available in certain cases even after the assessee becomes resident. - Where a person, who is a non-resident Indian In Any previous year, becomes assessable as resident in India in respect of the total income of any subsequent year, he may furnish to the Income-tax Officer a declaration in writing along with his return of income under section 139 for the assessment year for which he is so assessable, to the effect that the provisions of this Chapter shall continue to apply to him in relation to the investment income derived from any foreign exchange asset being an asset of the nature referred to in sub-clause (ii) or sub-clause (iii) or.....

Finance Act, 1983 Chapter III

Title: Direct Taxes

State: Central

Year: 1983

.....April, 1984, namely :- "43B. Certain deductions to be only on actual payment. - Notwithstanding anything contained in any other provision of this Act, a deduction otherwise allowable under this Act in respect of - (a) any sum payable by the assessee by way of tax or duty under any law for the time being in force, or (b) any sum payable by the assessee as an employer by way of contribution to any provident fund or superannuation fund or gratuity fund or any other fund for the welfare of employees, shall be allowed (irrespective of the previous year in which the liability to pay such sum was incurred by the assessee according to the method of accounting regularly employed by him) only in computing the income referred to in section 28 of that previous year in which such sum is actually paid by him. Explanation : For the removal of doubts, it is hereby declared that where a deduction in respect of any sum referred to in clause (a) or clause (b) of this section is allowed in computing the income referred to in 28 of the previous year (being a previous year relevant to the assessment year commencing on the 1st day of April, 1983 or any earlier assessment year) in which the.....

Finance Act, 1983 Section 6

Title: Amendment of Section 11

State: Central

Year: 1983

.....in section 617 of the Companies Act, 1956 (1 of 1956); (viii) deposits with or investment in any bonds issued by a financial corporation which is engaged in providing long-term finance for industrial development in India and which is approved by the Central Government for the purposes of clause (viii) of sub-section (1) of section 36; (ix) deposit with or investment in any bonds issued by a public company formed and registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes and which is approved by the Central Government for the purposes of clause (viii) of sub-section (1) of section 36; (x) investment in immovable property. Explanation : "Immovable property" does not include any machinery or plant (other than machinery or plant installed in a building for the convenient occupation of the building) even, though attached to, or permanently fastened to anything attached to, the earth.'.

Finance Act, 1983 Schedule I

Title: First Schedule

State: Central

Year: 1983

.....any debentures issued by a company where such debentures are listed in a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956), and any rules made thereunder (vi) on any other income (excluding interest payable on a tax-free security) 20 per cent. 2.5 per cent.; (b) where the person is not resident in India - (i) in the case of a non-resident Indian - (A) on investment income and long-term capital gains 20 per cent. 2.5 per cent.; (B) on income by way of interest payable on a tax-free security 15 per cent. 1.875 per cent.; (C) on the whole of the other income cent. of the amount of the income, income-tax at 30 per cent. and surcharge at 3.75 per or income-tax and surcharge on income-tax in respect of the income at the rates prescribed in Sub-Paragraph I of Paragraph A of Part III of this Schedule, if such income had been the total income, whichever is higher; (ii) in the.....

Finance Act, 1983 Complete Act

State: Central

Year: 1983

.....OF CLOSELY-HELD COMPANIES - [Note this section has been omitted by Finance Act 18 to 1992 S. 117 (1-4-1993)]. SECTION 41: (Amendments to Wealth-tax Act incorporated in that Act. hence not given,] SECTION 42: AMENDMENT OF SECTION 5 - (Amendments incorporated in the Principal Act]. SECTION 43: AMENDMENT OF SECTION 4 - Insection 4 of the Interest-tax Act, 1974-the following proviso shall be inserted at the end, namely:- "Provided that the rate at which interest-tax shall be charged in respect of any chargeable interest accruing or arising after the 31st day of March, 1983 shall be three and a half per cent. of such chargeable interest" SECTION 44: AMENDMENT OF ACT 51 OF 1975 - [Amendments incorporated in the Customs Tariff Act, 1975] SECTION 45: AUXILIARY DUTIES OF CUSTOMS (1) In the case of goods mentioned in the First Schedule to the Customs Tariff Act, or in that Schedule as amended from-time to time. there shall believed and collected as an auxiliary duty of customs an amount equal to fifty percent. of the value of the goods as determined in accordance with the provisions ofSection 14 of the Customs Act, 1962-(hereinafter referred to as the Customs Act). (2) Sub-section (1).....

Textile Undertakings (Taking over of Management) Act, 1983 Section 8

Title: Application of Act 1 of 1956

State: Central

Year: 1983

.....undertaking of a textile company remains vested in the Central Government under this Act, notwithstanding anything contained in the Companies Act, 1956 or in the memorandum or articles of association of such company, (a) it shall not be lawful for the shareholders of the textile company or any other person to nominate or appoint any person to be a Director of such textile company in relation to such undertaking; (b) no resolution affecting (whether directly or indirectly) such undertaking which is passed at any meeting of shareholders of the textile company or after the appointed day shall be given effect to unless approved by the Central Government. (c) no proceeding for the winding up of the textile company or for the appointment of a liquidator or receiver in respect thereof shall lie in any court except with the consent of the Central Government. (2) Subject to the provisions contained in sub-section (1), and to the other provisions contained in this Act and subject to such other exceptions, restriction and limitations if any, as the Central Government may, by notification, specify in this behalf, the Companies Act, 1956, shall continue to apply to the textile.....

Finance Act, 1983 Section 5

Title: Amendment of Section 10

State: Central

Year: 1983

.....: For the purposes of this clause, - (a) "fees for technical services" shall have the same meaning as in Explanation 2 to clause (vii) of sub-section (1) of section 9; (b) "foreign company" shall have the same meaning as in section 80B; (c) "royalty" shall have the same meaning as in Explanation 2 to clause (vi) of sub-section (1) of section 9;'; (b) in clause (10), - (i) for the words "thirty thousand rupees", at the three place where they occur, the words "thirty-six thousand rupees" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 1982; (ii) after the proviso and before the Explanation, the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1982, namely :- 'Provided also that the Central Government may, having regard to the maximum amount which may for the time being be exempt under sub-clause (i), increase, by notification in the Official Gazette, the limit of thirty-six thousand rupees, for all the three purposes for which it has been mentioned in the foregoing provisions of this clause, up to such maximum amount : Provided also that.....

Textile Undertakings (Taking over of Management) Act, 1983 Chapter IV

Title: Miscellaneous

State: Central

Year: 1983

.....Government or the Custodian for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act. Section 11 - Contracts, etc., in bad faith may be cancelled or varied (1) If the Central Government is satisfied, after such inquiry as it may think proper, that any contract or agreement entered into at any time within three years immediately preceeding the appointed day between any of the textile companies or managing or other director of any such textile company and any other person in relation to any service, sale or supply to, or by, its textile undertaking and in force immediately before the appointed day, has been entered into in bad faith, or is detrimental to the interests of the textile undertaking of the concerned textile company, it may make, within one hundred and eighty days from the appointed day, an order cancelling or varying (either unconditionally or subject to such conditions as it may think fit to impose) such contract or agreement and thereafter the contract or agreement shall have effect accordingly : Provided that no contract or agreement shall be cancelled or varied except after giving to the.....

Textile Undertakings (Taking over of Management) Act, 1983 Complete Act

State: Central

Year: 1983

.....Government or the Custodian for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act. SECTION 11: CONTRACTS, ETC., IN BAD FAITH MAY BE CANCELLED OR VARIED (1) If the Central Government is satisfied, after such inquiry as it may think proper, that any contractor agreement entered into at any time within three years immediately preceding the appointed day between any of the textile companies or managing or other director of any such textile company and any other person in relation to any service, sale or supply to, or by, its textile undertaking and in force immediately before the appointed day, has been entered into in bad faith, or is detrimental to the interests of the textile undertaking of the concerned textile company, it may make, within one hundred and eighty days from the appointed day, an order cancelling or varying (either unconditionally or subject to such conditions as it may think fit to impose) such contract or agreement and thereafter the contract or agreement shall have effect accordingly: Provided that no contract or agreement shall be cancelled or varied except after giving to the parties to the.....