Bare Act Search Results

Finance (No. 2) Act, 1980 Schedule 1

Title: First Schedule

State: Central

Year: 1980

..... (5) Notwithstanding anything contained in this rule, no loss which has not been determined by the Income-tax Officer under the provisions of these rules or the rules contained in Part IV of the First Schedule to the Finance Act, 1974 (20 of 1974), or of the First Schedule to Finance Act, 1975 (25 of 1975), or of the First Schedule to the Finance Act, 1976 (66 of 1976), or of the First Schedule to the Finance (No. 2) Act, 1977 (29 of 1977), or of the Schedule to the Finance Act, 1978 (19 of 1978), or of the First Schedule to the Finance Act, 1979 (21 of 1979), shall be set off under sub-rule (1) or, as the case may be, sub-rule (2). Rule 10 - Where the net result of the computation made in accordance with these rules is a loss, the loss so computed shall be ignored and the net agricultural income shall be deemed to be nil. Rule 11 - The provisions of the Income-tax Act relating to procedure for assessment (including the provisions of section 288A relating to rounding off of income) shall, with the necessary modifications, apply in relation to the computation of the net agricultural income of the assessee as they apply in relation to the assessment of the total income. Rule.....

Finance (No. 2) Act, 1980 Complete Act

State: Central

Year: 1980

.....80TT-,8OU-,143-,155-,171-,208-,209A-,212-,215-,273- and Sch. IV of I.T. Act, Ss. 80AA. 80AB and 801 were inserted in the I.-T Act by this Act. S. 35 dealt with some consequential amendments in the I.- T Act. All these have been incorporated in the principal Act and hence not printed here. SECTION 36: 36 - 41 Amendments incorporated inthe Wealth-tax Act. 1957 (27 of 1957) SECTION 42: AMENDMENT OF ACT 18 OF 1958 (Incorporated in the Principal Act. Hence not printed]. SECTION 43: AMENDMENT OF ACT 45 OF 1974 (1) Amendments isS. 2 of the Income-tax Act.-1974 (45 of 1974) 'have been incorporated in the Act. (2) inSection 6-, in sub-section (2). for the words, figures and letters "after the 28th day of February, 1978",the words, figures and letters, "during the period commencing on the 1st day of March, 1978 and ending with the 30th day of June, 1980" shall be submitted with effect from the 1st day of Sept., 1980. SECTION 44: SAVING IN CERTAIN CASES Where before the 18th day of June, 1980 (being the date on which the Finance (N0.2) Bill, 1980 was introduced), the Supreme Court has, on an appeal or a reference in respect of the assessment of an asscssee.....

Kolkata Municipal Corporation Act, 1980 Complete Act

State: West Bengal

Year: 1980

..... (7) "building of the warehouse class" means a building, the whole or a substantial part of which is used, or intended to be used, as a warehouse, factory, manufactory, brewery, or distillery, or for any similar purpose, which is neither a "domestic building" nor a "public building" as defined in this section, and includes a hut used or intended to be used for any of the purposes mentioned in this clause; (8) "bustee" means an area containing land not less than seven hundred square metres in area occupied by or for the purposes of any collection of huts or other structures used or intended to be used for human habitation. Explanation.-If any question arises as to whether any particular area is or is not a bustee, the Corporation shall decide the question and its decision shall be final; (9) "Kolkata" means the area described in Schedule I; 3 Clause (10) omitted by s. 2 of the Calcutta Municipal Corporation (Amendment) Act, 1996 (West Ben. Act VI of 1996) (with retrospective effect from 4.12.1995), which was earlier as under: '(10) "candidate" in section 75 and in Schedule III means a person who has been nominated as a candidate at any election of a Councillor or who claims.....

Finance Act, 1980 Part I

Title: Income-tax and Surcharge on Income-tax

State: Central

Year: 1980

.....the assessment year commencing on the 1st day of April, 1980. Explanation : In this sub-rule and sub-rule (2), the expression "section 2 of this Act" means section 2 of the Finance Act, 1979 (21 of 1979), as applied for the purposes of this Act. (2) Where the assessee has, in the previous year relevant to the assessment year commencing on the 1st day of April, 1981, or, if by virtue of any provision of the Income-tax Act, income-tax is to be charged in respect of the income of a period other than that previous year, in such other period, any agricultural income and the net result of the computation of the agricultural income of the assessee for any one or more of the previous years relevant to the assessment year commencing on the 1st day of April, 1974, or the 1st day of April, 1975, or the 1st day of April, 1976, or the 1st day of April, 1977, or the 1st day of April, 1978, or the 1st day of April, 1979, or the 1st day of April, 1980, is a loss, then, for the purposes of sub-section (6) of section 2 of this Act, - (i) the loss so computed for the previous year relevant to the assessment year commencing on the 1st day of April, 1974, to the extent, if any, such loss has.....

Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 Chapter V

Title: Miscellaneous

State: Central

Year: 1980

.....loss account, doesnot disclose any matters which are by the provisions of the Banking RegulationAct, 1949, read with the relevant provisions of this Act or any other Act, notrequired to be disclosed. ExplanationII. -For the purposes of this Act,the accounts of the corresponding new bank shall not be deemed as having notbeen properly drawn up on the ground merely that they do not disclose certainmatters if- (i) thosematters are such as the corresponding new bank is, by virtue of any provisioncontained in the Banking Regulation Act, 1949, read with the relevant provisionsof this Act, or any other Act, not required to disclose; and (ii) theprovisions referred to in clause (i) are specified in the balance-sheet andprofit and loss account of the corresponding new bank or in the auditor'sreport. (5) The report of theauditor shall be verified, signed and transmitted to the Central Government. (6) The auditor shall alsoforward a copy of the audit report to the corresponding new bank and to the Reserve Bank. (7) After making provisionfor bad and doubtful debts, depreciation in assets, contributions to staff andsuperannuation funds and all other matters for which provision is.....

Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 Complete Act

State: Central

Year: 1980

.....by him in this behalf realise any asset and discharge any liability of the existing bank. (4) Unless otherwise expressly provided by 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 commencement of this Act and to which the existing bank is a party or which are in favour of the existing bank shall be of full force and effect against or in favour of the corresponding new bank, and may be enforced or acted upon as fully and effectually as if in the place of the existing bank the corresponding new bank had been a party thereto or as if they had been issued in favour of the corresponding new bank. (5) If, immediately before the commencement of this Act, any suit, appeal or other proceeding of whatever nature in relation to any business of the undertaking which has been transferred under section 4-, is pending by or against the existing bank, the same shall not abate, be discontinued or be in any way, prejudicially affected by reason of the transfer of the undertaking of the existing bank or of anything contained in this Act but.....

Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 Section 10

Title: Closure of Accounts and Disposal of Profits

State: Central

Year: 1980

.....affairs of the corresponding new bank, and in case he hadcalled for any explanation or information, whether it has been given and whetherit is satisfactory; (b) whetheror not the transactions of the corresponding new bank, which have come to hisnotice, have been within the powers of that bank; (c) whetheror not the returns received from the officers and branches of the correspondingnew bank have been found adequate for the purpose of his audit; (d) whetherthe profit and loss account shows a true balance of profit or loss for theperiod covered by such account; and (e) any othermatter which he considers should be brought to the notice of the CentralGovernment. 3 [ExplanationI. -For the purposes of this Act,- (a) thebalance-sheet shall not be treated as not disclosing a true and fair view of theaffairs of the corresponding new bank, and (b) theprofit and loss account shall not be treated as not showing a true balance ofprofit and loss for the period covered by such account, merely by reason of the factthat the balance-sheet or, as the case may be, the profit and loss account, doesnot disclose any matters which are by the provisions of the Banking RegulationAct, 1949,.....

Bird and Company Limited (Acquisition and Transfer of Undertakings and Other Properties) Act, 1980 Complete Act

State: Central

Year: 1980

.....to be provided by the Central Government 3. Messrs. Bird and Company Limited is a lading company in a group of 23 other companies engaged in manufacturing, mining, trading and investment activities. While two of the companies are subsidiaries of the Company, the other companies in the group are under varying degrees of control of the company through its direct shareholding or by shareholding by the investment companies in the group. The Company provides marketing and management services to some of the group companies. The manufacturing companies in the group are engaged in production of goods which are vital to the needs of' the country. There had been .several allegations against the management of some of these companies indicating misuse of the companies, mismanagement, misfeasance or malfeasance. The Company Law Board ordered investigations in 1977 under section 237 (b) of the Companies Act, 1956, in respect of some of these companies. Four of the companies have already been nationalised. Management of two of the companies has been taken over under the provisions of the Industries ( Development and Regulation) Act. 1951. It was in the public interest to acquire the.....

Howrah Municipal Corporation Act, 1980 Complete Act

State: West Bengal

Year: 1980

.....figures subs, for the words "or any other oil which the State Government may, by notification, declare to be an edible oil for the purposes of this Act;" by W. B. Act 11 of 1999. [blended edible oil, partially hydrogenated and winterized soyabean oil, or any other oil which the Central Government may, by notification, declare to be an edible oil under the provisions of the Prevention of Food Adulteration Act, 1954, or the rules made thereunder; 1111. Clause (11) subs, by W. B. Act 36 of 1994, which was earlier as under : (11) "elected member" includes a Councillor and Alderman:'. (11) "elected member" means an elected Councillor; 1212. Clause (12) om. by W. B. Act 11 of 1999. which was as under : (12) "election authority" means the authority appointed by the State Government under section 33; * * * * * * * * (13) "erection of a building" or "to erect a building" means (a) to erect a new building on any site, whether previously built upon or not, (b) to re-erect (i) any building of which more than one-half of the cubical contents above the level of plinth and within the external surface of its walls and roofs have been pulled down, burnt or destroyed, or (ii) any building of.....

Finance (No. 2) Act, 1980 Chapter III

Title: Direct Taxes

State: Central

Year: 1980

.....40 per cent. of the amount by which such aggregate exceeds Rs. 10,000."; (b) in sub-section (4), in clause (i), for the words "musician or actor", the words and brackets "musician, actor or sportsman (including an athlete)" shall be substituted. Section 14 - Omission Of Section 80ff Section 80FF of the Income-tax Act, shall be omitted with effect from the 1st day of April, 1981. Section 15 - Amendment Of Section 80g In section 80G of the Income-tax Act, - (a) for sub-section (4), the following shall be substituted with effect from the 1st day of April, 1981, namely :- "(4) where the aggregate of the sums referred to in sub-clauses (iv), (v), (vi) and (vii) of clause (a) and in clause (b) of sub-section (2) exceeds the smaller of the following amounts, that is to say, - (i) ten per cent. of the gross total income (as reduced by any portion thereof on which income-tax is not payable under any provision of this Act and by any amount in respect of which the assessee is entitled to a deduction under any other provision of this Chapter), and (ii) five hundred thousand rupees, then, the amount by which such aggregate exceeds such smaller amount shall be.....