Bare Act Search Results
Home Bare Acts Phrase: mutual fundSecurities Contracts Regulation Act, 1956 (42 of 1956) Section 27B
Title: Right to Receive Income from Mutual Fund
State: Central
Year: 1956
.....lodging of any security, being units or other instruments issued by the mutual fund, and other documents relating to the transfer due to causes connected with the post, by the actual period of the delay. (2) Nothing contained in sub-Section (1) shall affect- (a) the right of a mutual fund to pay any income from units or other instruments issued by the mutual fund which has become due to any person whose name is for the time being registered in the books of the mutual fund as the holder of the security being units or other instruments issued by the mutual fund in respect of which the income in respect of units or other instruments issued by mutual fund has become due; or (b) the right of transferee of any security, being units or other instruments issued by the mutual fund, to enforce against the transferor or any other person his rights, if any, in relation to the transfer in any case where the mutual fund has refused to register the transfer of the security being units or other instruments issued by the mutual fund in the name of the transferee."] ___________________________ 1. Inserted vide The Securities Laws (Amendment) Act, 2004
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 115T
Title: Unit Trust of India or Mutual Fund to Be an Assessee in Default
State: Central
Year: 1961
.....or a Mutual Fund and the specified company] or the Mutual Fund, as the case may be, does not pay tax, as is referred to in sub-section (1) or sub-section (2) of section 115R, then, he or it shall be deemed to be an assessee in default in respect of the amount of tax payable by him or it and all the provisions of this Act for the collection and recovery of income-tax shall apply. Explanation : For the purposes of this Chapter, (a) Mutual Fund means a Mutual Fund specified under clause (23D) of section 10 ; (b) 2[***] equity-oriented fund means (i) the Unit Scheme, 1964 made by the Unit Trust of India ; and (ii) such fund where the investible funds are invested by way of equity shares in domestic companies to the extent of more than 3[sixty-five per cent] of the total proceeds of such fund : Provided that the percentage of equity share holding of the fund shall be computed with reference to the annual average of the monthly averages of the opening and closing figures ; (c) Unit Trust of India means the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963);] 4[(d) money market mutual fund means a money market mutual fund as defined.....
View Complete Act List Judgments citing this sectionSecurities and Exchange Board of India Act, 1992 Section 15D
Title: Penalty for Certain Defaults in Case of Mutual Funds
State: Central
Year: 1992
.....be liable to 5 [a penalty of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less]. ______________________ 1. Substituted by Act 59 of 2002, section 12, for "a penalty not exceeding ten thousand rupees for each day during which he carries on any such collective investment scheme, including mutual funds, or ten lakh rupees, whichever is higher" (w.r.e.f. 29-10-2002). 2. Substituted by Act 59 of 2002, section 12, for "a penalty not exceeding ten thousand rupees for each day during which such failure continues or ten lakh rupees, whichever is higher" (w.r.e.f. 29-10-2002). 3. Substituted by Act 59 of 2002, section 12, for "a penalty not exceeding five thousand rupees for each day during which such failure continues or five lakh rupees, whichever is higher" (w.r.e.f. 29-10-2002). 4. Substituted by Act 59 of 2002, section 12, for "a penalty not exceeding one thousand rupees for each day during which such failure continues" (w.r.e.f. 29-10-2002). 5. Substituted by Act 59 of 2002, section 12, for "a penalty not exceeding five lakh rupees for each such failure" (w.r.e.f. 29-10-2002).
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 115BBB
Title: Tax on Income from Units of an Open-ended Equity Oriented Fund of the Unit Trust of India or of Mutual Funds
State: Central
Year: 1961
1[(1) Where the total income of an assessee includes any income from units of an open-ended equity oriented fund of the Unit Trust of India or of a Mutual Fund, the income-tax payable shall be the aggregate of (a) the amount of income-tax calculated on income from units of an open-ended equity-oriented fund of the Unit Trust of India or of a Mutual Fund, at the rate of ten per cent ; and (b) the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (a). (2) Nothing contained in sub-section (1) shall apply in relation to any income from units of an open-ended equity-oriented fund of the Unit Trust of India or of the Mutual Fund arising after the 31st day of March, 2003. Explanation : For the purposes of this section, the expressions Mutual Fund, open-ended equity-oriented fund and Unit Trust of India shall have the meanings respectively assigned to them in the Explanation to section 115T.] ________________________ 1. Inserted by the Finance Act, 2002, with effect from 1st April, 2003.
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 80C
Title: Deduction in Respect of Life Insurance Premia, Deferred Annuity, Contributions to Provident Fund, Subscription to Certain Equity Shares or Debentures, Etc.
State: Central
Year: 1961
.....finance for construction or purchase of houses in India for residential purposes which is eligible for deduction under clause (viii) of sub-section (1) of section 36, or (6) any company in which the public are substantially interested or any co-operative society, where such company or cooperative society is engaged in the business of financing the construction of houses, or (7) the assessees employer where such employer is an authority or a board or a corporation or any other body established or constituted under a Central or State Act, or (8) the assessees employer where such employer is a public company or a public sector company or a university established by law or a college affiliated to such university or a local authority or a co-operative society; or (d) stamp duty, registration fee and other expenses for the purpose of transfer of such house property to the assessee, but shall not include any payment towards or by way of (A) the admission fee, cost of share and initial deposit which a shareholder of a company or a member of a co-operative society has to pay for becoming such shareholder or member; or (B) the cost of any addition or alteration to,.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 88
Title: Rebate on Life Insurance Premia, Contribution to Provident Fund, Etc.
State: Central
Year: 1961
.....year before allowing the deduction under section 16 ; and (b) is not less than ninety per cent of his gross total income, as defined in sub-section (5) of section 80B ; (ii) in the case of an individual or a Hindu undivided family, whose gross total income before giving effect to deductions under Chapter VIA, is more than one lakh fifty thousand rupees but does not exceed five lakh rupees, fifteen per cent of the aggregate of the sums referred to in sub-section (2) ; (iii) in the case of an individual or a Hindu undivided family, whose gross total income before giving effect to deductions under Chapter VIA, exceeds five lakh rupees, nil.] (2) The sums referred to in sub-section (1) shall be any sums paid or deposited in the previous year by the assessee 2[***] (i) to effect or to keep in force an insurance on the life of persons specified in sub-section (4) ; (ii) to effect or to keep in force a contract for a deferred annuity, not being an annuity plan referred to in clause (xiiia), on the life of persons specified in sub-section (4) : Provided that such contract does not contain a provision for the exercise by the insured of an option to receive a cash.....
View Complete Act List Judgments citing this sectionLevy Sugar Price Equalisation Fund Act, 1976 Section 3
Title: Levy Sugar Price Equalisation Fund
State: Central
Year: 1976
.....or in the custody of, any Government, bank, authority or other person; or (b) any amount in excess of the controlled price has been collected and kept by the producer under the cover of any guarantee given in pursuance of such order. (i) it shall not be necessary to credit such amounts to the Fund so long as the court which passed the interim order does not so direct." Omitted by the Levy Sugar Equalisation Fund (Amendment) Act, 1984, w.e.f. 23-08-1984. 4.Substituted for "interim order referred to in sub- section (4)")" by the Levy Sugar Equalisation Fund (Amendment) Act, 1984, w.e.f. 23-08-1984. 5. Substituted for "or in any court of appeal or revision, credit such amount, to the extent it represents any excess realisation, to the Fund. " by the Levy Sugar Equalisation Fund (Amendment) Act, 1984, w.e.f. 23-08-1984.
View Complete Act List Judgments citing this sectionCentral Road Fund Act, 2000 Chapter III
Title: Managment of Central Road Fund
State: Central
Year: 2000
.....referred to in this section as the existing Fund) shall be deemed to be the Fund established under this Act and,-- (a) all schemes relating to development and maintenance of national highways and Slate roads sanctioned under the existing Fund in so far as such schemes are relatable to the schemes under this Act, shall be deemed to be the schemes sanctioned under this Act; (b) all funds accrued under the existing Fund including assets and liabilities shall be transferred to the Fund established under this Act. Section 15 - Repeal and saving (1) The Central Road Fund Ordinance, 2000 (Ord. 5 of 2000) is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provisions of this Act.
View Complete Act List Judgments citing this sectionADVOCATES WELFARE FUND ACT, 2001 Chapter V
Title: MEMBERSHIP AND PAYMENT OUT OF ADVOCATES' WELFARE FUND
State: Central
Year: 2001
.....ninety days of the passing of any order by it under the provisions of this Act, review such order, if it was passed under any mistake, whether of fact or of law or in ignorance of any material fact: Provided that the Trustee Committee shall not pass any order under this section adversely affecting any person unless such person has been given an opportunity of being heard. Section 21 - Payment of amount on cessation of practice (1) Every advocate who has been amember of the Fund for a period of not less than five years shall, on his cessation of practice, be paid an amount at the rate specified in Schedule I: Provided that where the Trustee Committee is satisfied that a member of the Fund ceases to practice within a period of five years from the date of his admission as a member of such Fund as a result of any permanent disability, the Trustee Committee may pay such member an amount at the rate specified in Schedule I. (2) Where a member of the Fund dies before receiving the amount payable under subsection (1), his nominee or legal heir, as the case may be, shall be paid the amount payable to the deceased member of the Fund. Section 22 - Restriction on alienation,.....
View Complete Act List Judgments citing this sectionAdvocates Welfare Fund Act, 2001 Section 18
Title: Membership in Fund
State: Central
Year: 2001
.....form as may be prescribed. (2) Every person,-- (a) admitted as an advocate on the roll of a State Bar Council, after the commencement of this Act; (b) practising in any court, tribunal or other authority in a State and being a member of a State Bar Association or a State Advocates' Association in that State,-- shall apply, within six months of his enrolment as an advocate, to the Trustee Committee, for admission as a member of the Fund in such form as may be prescribed. (3) On receipt of an application under sub-section (1) or sub-section (2), the Trustee Committee shall make such enquiry as it deems fit and either admit the applicant to the Fund or, for reasons to be recorded in writing, reject the application: Provided that no order rejecting an application shall be passed unless the applicant has been given an opportunity of being heard. (4) Every applicant shall pay an application fee of two hundred rupees along with the application to the account of the Trustee Committee. (5) Every advocate, being a member of the Fund, shall pay an annual subscription of fifty rupees to the Fund on or before the 31st day of March of every year: Provided that every.....
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