Bare Act Search Results

Income Tax Act, 1961 Section 92C

Title: Computation of Arms Length Price.

State: Central

Year: 1961

.....to the nature of transaction or class of transaction or class of associated persons or functions performed by such persons or such other relevant factors as the Board may prescribe2, namely : (a) comparable uncontrolled price method ; (b) resale price method ; (c) cost plus method ; (d) profit split method ; (e) transactional net margin method ; (f) such other method as may be prescribed3 by the Board. (2) The most appropriate method referred to in sub-section (1) shall be applied, for determination of arms length price, in the manner as may be prescribed4: 5[Provided that where more than one price is determined by the most appropriate method, the arms length price shall be taken to be the arithmetical mean of such prices: Provided further that if the variation between the arms length price so determined and price at which the international transaction has actually been undertaken does not exceed five per cent. of the latter, the price at which the international transaction has actually been undertaken shall be deemed to be the arms length price.] (3) Where during the course of any proceeding for the assessment of income, the Assessing Officer is, on the.....

Income Tax Act, 1961 Chapter X

Title: Special Provisions Relating to Avoidance of Tax

State: Central

Year: 1961

.....mean of such prices: Provided further that if the variation between the arms length price so determined and price at which the international transaction has actually been undertaken does not exceed five per cent. of the latter, the price at which the international transaction has actually been undertaken shall be deemed to be the arms length price.] (3) Where during the course of any proceeding for the assessment of income, the Assessing Officer is, on the basis of material or information or document in his possession, of the opinion that (a) the price charged or paid in an international transaction has not been determined in accordance with sub-sections (1) and (2) ; or (b) any information and document relating to an international transac­tion have not been kept and maintained by the assessee in accordance with the provisions contained in sub-section (1) of section 92D and the rules made in this behalf ; or (c) the information or data used in computation of the arms length price is not reliable or correct ; or (d) the assessee has failed to furnish, within the specified time, any information or document which he was required to furnish by a notice issued under.....

Income Tax Act, 1961 Complete Act

State: Central

Year: 1961

INCOME TAX ACT, 1961 INCOME TAX ACT, 1961 43 of 1961 [AS AMENDED BY FINANCE ACT, 2003] An Act to consolidate and amend the law relating to income-tax and super-tax BE it enacted by Parliament in the Twelfth Year of the Republic of India as follows : CHAPTER 1 PRELIMINARY Section 1 Short title, extent and commencement (1) This Act may be called the Income-tax Act, 1961. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act, it shall come into force on the 1st day of April, 1962. Section 2 Definitions 1 Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1) "advance tax" means the advance tax payable in accordance with the provisions of Chapter XVII-C;] 2 Renumbered as clause (1A) by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1A)] 3 For manner of computation of income which is partially agricultural and partially frombusiness, see rules 7, 7A, 7B and 8. For analysis, see Mashbra's Income-tax Rules."agricultural income" means - 4 Substituted by the Taxation Laws (Amendment) Act, 1970, w.r.e.f. 1-4-1962.[(a) any rent or revenue derived from land which is situated in India and is used for.....

Advocate Act, 1961 Chapter II

Title: Bar Council

State: Central

Year: 1961

.....of Name Adaptation of Laws on UnionSubjects Order, 1974. 5. Substitutedby Act 69 of 1986, section 19, for clause (6) as earlier amended byAct 81 of 1971, section 34 and Act 34 of 1986, section 16. 5a. Substitutedby Act 34 of 1973, section 12. 6. Insertedby Act 26 of 1968, section 3 and Schedule. 7. Substituedby the Madras State (Alteration of Name) (Adaptation of Laws on UnionSubjects) order, 1970, for the words "State of Madras". 8. Substitutedby act 18 of 1987, section 21, for clause (ccc) as initially insertedby Regulation 8 of 1963, section 12 and relettered by Act 26 of 1968,section 3 and Schedule and subsequently amended by Act 60 of 1973,section 4. 9. Substituedby Act 53 of 1970, section 24, for clause (d). 10. Substitutedby Act 81 of 1971, section 34, for "Union Territories ofTripura and the Andaman and Nicobar Islands". 11. Insertedby Act 60 of 1973, section 4. 12. Substitutedby Act 60 of 1973, section 4. 13. Insertedby Act 21 of 1964, section. 2. 14. Substitutedby Act 38 of 1977, section 2, for clause (3) as Inserted by Act 107of 1976, section 3. 15. Insertedby Act 21 of 1964, section 2. 16. Sub-clause(6) inserted by Act 60 of 1973,.....

Advocates Act, 1961 Complete Act

State: Assam

Year: 1961

ADVOCATES ACT, 1961 ADVOCATES ACT, 1961 An Act to amend and consolidate the law relating to legal practitioners and to provide for the constitution of the Bar Councils and an All-India Bar. Be it enacted by Parliament in the Twelfth Year of the Republic of India as follows:- CHAPTER I PRELIMNARY 1. Short title, extent and commencement . "(1) This Act may be called the Advocates Act, 1961. ( Substituted by Act 60 of 1973, sec. 2, for sub-section (2) w.e.f. 31.01.1974) [(2) It extends (The Act has been extended to" The Union territory of Dadra & Nagar Haveli by Regulation 8 of 1963. The Union territory of Pondicherry by Act 26 of 1968, sec. 3 and Sch) to the whole of India.] (3) It (Substituted by Act 60 of 1973, sec. 2, for "shall come into force" w.e.f. 31.01.1974) [shall, in relation to the territories other than those referred to in sub-section (4), come into force] on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act. (Inserted by Act 60 of `973, sec 2 w.e.f. 31.01.1974) [(4) This Act shall, in relation to the State of Jammu.....

The Chhattisgarh Municipalities Act, 1961 Complete Act

State: Chattisgarh

Year: 1961

THE CHHATTISGARH MUNICIPALITIES ACT, 1961 THE CHHATTISGARH MUNICIPALITIES ACT, 1961 [Act No. 37 of 1961] [20th November, 1961] PREAMBLE An Act to consolidate and amend the law relating to municipalities and to make better provision for the organisation and administration of Municipalities in Chhattisgarh. Be it enacted by the Madhya Pradesh Legislature in the Twelfth year of the Republic of India as follows:-- Chapter I - PRELIMINARY Section 1 - Short Title, extent and commencement (1) This act may be called the Chhattisgarh Municipalities Act, 1961. (2) It extends to the whole of Chhattisgarh. [Inserted by M.P. Act No. 18 of 1997.] [(3) It shall apply to the smaller urban area or a transitional area, as the case may be, from the date on which they are notified as such under Section 5.] Section 2 - Repeal and Savings (1) The Central Provinces and Berar Municipalities Act, 1922 (II of 1922), the Madhya Bharat Municipalities Act, 1954 (1 of 1954), the Vindhya Pradesh Municipalities Act, 1946 and the Bhopal State Municipalities Act, 1955 (III of 1956), are hereby repealed. (2) Notwithstanding such repeal-- (i) all Municipal Committees,.....

Advocates Act, 1961 Complete Act

State: Central

Year: 1961

.....Bill seeks to achieve these objectives.- S.O.R. -Gaz. of Ind., 13-8-1962, Pt. II, S. 2, Ext., p.641. Act 21 of 1964.- The working of the Advocates Act, enacted in May, 1961, has revealed certain practical difficulties and representations in this behalf have been received from various State Bar Councils and other associations. The Bar Council of India has also suggested certain amendments to the Act. Difficulties were being experienced mainly in regard to the functioning of the Bar Councils and the Committees thereof and also in regard to the enrolment as advocates of certain classes of persons who may not fall strictly within the scope ofsections 17and24of the Act. It is considered necessary that the Act should be suitably amended for removing such difficulties and for facilitating the implementation of its provisions. 2. The Act provides for the general supervision and control of the Bar Council of India over all State Bar Councils in order that they may, in the exercise of their powers, follow a uniform all-India policy. The powers given to the Bar Council of India in this behalf are, however, inadequate and it is considered necessary to enlarge its powers. It is therefore.....

Apprentices Act, 1961 Complete Act

State: Meghalaya

Year: 1961

APPRENTICES ACT, 1961 (Para 1.8) APPENDIX I(2) APPRENTICES ACT, 1961 [Act No. 52 of 1961 (The Act came into force on March 1, 1962 vide GSR 246, dated Feb. 12,1962)as amended by Acts 52 of 1964 (Published in Gazette of India, Pt. II, S.1, dated December 30,1964.), 25 of 1968 (Published in Gazette of India, Pt.II, S.1, dated May 24, 1968 and came into force on August 15,1968.), 27 of 1973 (Act 27 of 1973 came into force w.e.f. December 1, 1974 vide GSR 1293, dated November 1974), 41 of 1986 (Act 41 of 1986 came into force w.e.f. December 16,1987 vide GSR 974(E), dated December 10, 1987)and 4 of 1997 (Act 4 of 1997 came into force w.e.f. January 8, 1997.)] C O N T E N T S Sections CHAPTER I - Preliminary 1. Short title, extent, commencement 2. Definitions CHAPTER II - Apprentices and their Training 3. Qualifications for being engaged as an apprentice 3-A. Reservation of training places for the Scheduled Castes and the Scheduled Tribes in designated trades. 4. Contract of apprenticeship 5. Novation of contract of apprenticeship 6. Period of apprenticeship training 7. Termination of apprenticeship contract 8. Number of apprentices for a.....

The Kerala Borstal Schools Act, 1961 Complete Act

State: Kerala

Year: 1961

.....the rules made thereunder, or, as the case may be, the Travancore-Cochin Prisons Act, 1950 (Act XVIII of 1950) and the Travancore-Cochin Prisoners Act,1950 (Act XVII of 1950) and the rules made thereunder, shall apply in the case of every borstal school established under this Act as if it were a prison and the inmates prisoners. PART II COMMITTAL TO BORSTAL SCHOOLS 5. Power of court to pass order of detention in borstal school .-(1) Where it appears to a court that an adolescent offender should, by reason of his criminal habits or tendencies, or association with persons of bad character, be subject to detention for such term and under such instruction and discipline as appears most conducive to his reformation and the prevention of crime, it shall be lawful for the court, in lieu of passing a sentence of imprisonment, to pass an order of detention in a borstal school for a term which shall not be less than two years and shall not exceed seven years, but in no case extending beyond the date on which the adolescent offender will, in the opinion of the court, attain the age of twenty-three years: Provided that the court shall not ordinarily order the detention of a first.....

Apprentices Act, 1961 Complete Act

State: Central

Year: 1961

.....apprentices] the period of apprenticeship training shall be such as may be prescribed.] SECTION 07: TERMINATION OF APPRENTICESHIP CONTRACT (1) The contract of apprenticeship shall terminate on the expiry of the period of apprenticeship training. (2) Either party to a contract of apprenticeship may make an application to the Apprenticeship Adviser for the termination of the contract, and when such application is made, shall send by post a copy thereof to the other party to the contract. (3) After considering the contents of the application and the objections, if any, filed by the other party, the Apprenticeship Adviser may, by order in writing, terminate the contract if he is satisfied that the parties to the contract or any of them have or has failed to carry out the terms and conditions of the contract and that it is desirable in the interests of the parties or any of them to terminate the same: Provided that where a contract is terminated- (a) for failure on the part of the employer to carry out the terms and conditions of the contract, the employer shall pay to the apprentice such compensation as may be prescribed; (b) for such failure on the part of the.....