Bare Act Search Results

Finance Act, 1982 Chapter III

Title: Direct Taxes

State: Central

Year: 1982

.....and the rate at which the amount of deduction under sub-section (1) is to be calculated, the Central Government shall have regard to the following factors, namely :- (a) the cost of manufacture or production of such goods or merchandise and prices of similar goods or merchandise in the foreign markets; (b) the need to develop foreign markets for such goods or merchandise; (c) the need to earn foreign exchange; (d) any other relevant factor. (5) The deduction under sub-section (1) for any assessment year shall not exceed ten per cent. of the amount of income-tax otherwise payable by the assessee for that assessment year on the amount of profits and gains derived from the export of such goods or merchandise out of India. Explanation : For the purposes of this sub-section, the amount of income-tax otherwise payable by the assessee for an assessment year on the profits and gains derived from the export of such goods or merchandise out of India shall be - (a) in a case where the total income for that assessment year consists only of such profits and gains, the amount of income-tax chargeable (without any deduction under this section) on the total income; (b) in a case.....

State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982 Complete Act

State: Central

Year: 1982

.....obligations of whatever kind then subsisting of the Sikkim Bank in relation to its undertakings. (2) Unless otherwise expressly provided in this Act, all contracts deeds, bonds, agreements, powers of attorney, grants of legal representation and other instruments of whatever nature subsisting or having effect immediately before the appointed day and to which the Sikkim Bank is a party or which are in favour of the said Bank shall be of as full force and effect against or in favour of the Central Government. (3) If, on the appointed day, any suit, appeal or other proceeding of whatever nature in relation to any business of the undertakings which have been transferred underSection 4-is pending by or against the Sikkim Bank, the same shall not abate, be discontinued or be in any way prejudicially affected by reason of the transfer of the undertakings of the Sikkim Bank: or of anything contained in this Act, but the suit, appeal or other proceeding may be continued, prosecuted or enforced by or against the Central Government. SECTION 06: VESTING OF THE SHARES AND UNDERTAKINGS OF SIKKIM BANK IN THE STATE GOVERNMENT (1) Notwithstanding anything contained in sections 3-,4-and5-,.....

Finance Act, 1982 Section 21

Title: Amendment of Section 80t

State: Central

Year: 1982

.....clause being treated as a separate category), the deduction of five thousand rupees referred to in this clause shall be allowed in the following order, namely :- (1) the deduction shall first be allowed against long-term capital gains relating to the assets mentioned in clause (i); (2) next, where the amount of the long-term capital gains relating to the assets mentioned in clause (i) is less than five thousand rupees, a deduction equal to the amount of the difference between five thousand rupees and such capital gains shall be allowed against the long-term capital gains relating to the assets mentioned in clause (ii); and (3) thereafter, the balance, if any, of the said five thousand rupees shall be allowed as a deduction against the long-term capital gains relating to the assets mentioned in clause (iii), and the provisions of sub-clause (A) and sub-clause (B) of this clause shall apply as if the references to five thousand rupees therein were references to the amount of deduction allowed in accordance with clauses (1), (2) and (3) of this proviso : Provided further that the aggregate amount of deduction under this section in relation to assets mentioned in clause.....

Finance Act, 1982 Section 12

Title: Insertion of New Section 54f

State: Central

Year: 1982

In the Income-tax Act, after section 54E, the following section shall be inserted with effect from the 1st day of April, 1983, namely :- '54F. Capital gain on transfer of certain capital assets not to be charged in case of investment in residential house. - (1) Where, in the case of an assessee being an individual, the capital gain arises from the transfer of any long-term capital asset, not being a residential house (hereafter in this section referred to as the original asset), and the assessee has, within a period of one year before or after the date on which the transfer took place purchased, or has within a period of three years after that date constructed, a residential house (hereafter in this section referred to as the new asset), the capital gain shall be dealt with in accordance with the following provisions of this section, that is to say, - (a) if the cost of the new asset is not less than the net consideration in respect of the original asset, the whole of such capital gain shall not be charged under section 45; (b) if the cost of the new asset is less than the net consideration in respect of the original asset, so much of the capital gain as bears to the.....

Chit Funds Act, 1982 Complete Act

State: Central

Year: 1982

..... (a) that the security offered by the foreman under section 20 is insufficient; (b) that the foreman had been convicted of any offence under this Act or under any other Act regulating chit business and sentenced to imprisonment for any such offence; (c) that the foreman had defaulted in the payment of fees or the filing of any statement or record required to be paid or filed under this Act or had violated any of the provisions of this Act or the rules made thereunder; (d) that the foreman had been convicted of any offence involving moral turpitude and sentenced to imprisonment for any such offence unless a period of five years has elapsed since his release: Provided further that before refusing to register a chit under the first proviso, the foreman shall be given a reasonable opportunity of being heard. (3) Every endorsement made under sub-section (2) shall be conclusive evidence that the chit is duly registered under this Act and the registration of a chit shall lapse if the declaration by the foreman under sub-section (1) of section 9-is not filed within three months from the date of such endorsement or within such further period or periods not exceeding three months in.....

Finance Act, 1982 Section 11

Title: Amendment of Section 54

State: Central

Year: 1982

In section 54 of the Income-tax Act, with effect from the 1st day of April, 1983, - (a) in sub-section (1), - (i) for the portion beginning with the words "Where a capital gain arises from the transfer of a capital asset" and ending with the words "a house property for the purposes of his own residence, then", the following shall be substituted, namely :- 'Where, in the case of an assessee being an individual the capital gain arises from the transfer of a long-term capital asset to which the provisions of section 53 are not applicable, being buildings or lands appurtenant thereto, and being a residential house, the income of which is chargeable under the head "Income from house property" (hereafter in this section referred to as the original asset), and the assessee has within a period of one year before or after the date on which the transfer took place purchased, or has within a period of three years after that date constructed, a residential house, then'; (ii) in clause (i), for the words "the house property", the words "the residential house" shall be substituted; (iii) the following Explanation shall be inserted at the end, namely :- 'Explanation : For the.....

The Payment of Salaries and Allowances (Amendment) Act, 1982 Complete Act

State: Kerala

Year: 1982

THE PAYMENT OF SALARIES AND ALLOWANCES (AMENDMENT) ACT, 1982 THE PAYMENT OF SALARIES AND ALLOWANCES (AMENDMENT) ACT, 1982 (ACT 2 OF 1982) [1] An Act further to amend the payment of Salaries and Allowances Act, 1951. Preamble.- WHEREAS it is expedient further to amend the Payment of Salaries and Allowances Act, 1951, for the purposes hereinafter appearing; BE it enacted in the Thirty-third Year of the Republic of India as follows: - 1. Short title and commencement.- (1) T his Act may be called the Payment of Salaries and Allowances (Amendment) Act, 1982. (2) It shall come into force at once. 2. Amendment of long title . -In the long title to the Payment of Salaries and Allowances Act, 1951 (XIV of 1951) (hereinafter refered to as the principal Act), for the words "the Leader of the Opposition and members", the words "the Leader of the Opposition, Chief Whip and members" shall be substituted. 3. Amendment of preamble.- In the preamble to the principal Act, for the words "and the Leader of the Opposition," the words "the Leader of the Opposition and the Chief Whip " shall be substituted. 4. Amendment of section 2. -In section 2 of the principal Act, after clause (f), the.....

State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982 Schedule 1

Title: Schedule

State: Central

Year: 1982

THE SCHEDULE [See section 8(1)] MANNER OF PAYMENT OF AMOUNT FOR THE TRASNFER OF SHARES OF THE STATE BANK OF SIKKIM TO THE CENTRAL GOVERNMENT. 1. In this Schedule, "shareholder" means any person who, immediately before the appointed day is registered as the holder of a share in the Sikkim bank, other than the State Government of Sikkim 2. For every share in the share capital of the Sikkim Bank which, by reason of this act, is transferred to and vested in the Central Government the Central Government shall pay to every holder thereof in the manner specified in paragraph 3 of this Schedule an amount calculated at the rate of rupees fifty-five per share. 3. Every person who is registered as the holder of a share in the Sikkim Bank on the appointed day and whose shares have been acquired under the provisions of this Act shall, for every such share so held by him, be paid an amount calculated at the rate specified in paragraph 2 by cheque drawn on the Reserve Bank of India.

Maharashtra Prevention of Malpractices at University, Board and Other Specified Examinations Act, 1982 Complete Act

State: Maharashtra

Year: 1982

.....summary way by any Metropolitan Magistrate or any Judicial Magistrate of the First Class and the provisions of sections 262 to 265 (Both inclusive) of the said Code shall, as far as may be, apply to such trial Provided that in the case of conviction for any offence in a summary trial under this section, it shall be lawful for the Magistrate to pass a sentence of imprisonment for any term for which such offence is punish able under this Act. SECTION 11: REPEAL OF MAH. ORD. IV OF 1982 AND SAVING (1) the Maharashtra Prevention of Ma at University, Board and other specified Examinations Ordinance, 1982, is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken (including any notification issued ) under the said Ordinance shall be deemed to have been done, taken or issued, as the case may be, under the corresponding provisions of this Act. Maharashtra State Acts

Suppression of Unlawful Acts Against Safety of Civil Aviation Act, 1982 Complete Act

State: Central

Year: 1982

.....against any person in connection with the commission of such offence, the Designated Court shall presume, unless the contrary is proved, that the accused had committed such offence. SECTION 10: PROTECTION OF ACTION TAKEN IN GOOD FAITH (1) No suit, prosecution or other legal proceeding shall lie against any person for anything which is in good faith done or intended to be done in pursuance of the provisions of this Act. (2) No suit or other legal proceeding shall lie against the Central Government for any damage caused or likely to be caused for anything which is in good faith done of intended to be done in pursuance of the provisions of this Act. Central Bare Acts