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Home Bare Acts Phrase: nets Page 1 of about 1,405 results (0.006 seconds)Wealth-tax Act, 1957 Section 4
Title: Net Wealth to Include Certain Assets
State: Central
Year: 1957
.....in sub-clause (ii) shall apply in respect of suchassets as have been acquired by the minor child out of his income referred to in the proviso tosub-section (1A)of section 64of the Income-tax Act and which are held by him on the valuation date: Providedalso that where the assets held by a minor child are to be included in computingthe net wealth of an individual, such assets shall be included,- (a) where the marriage ofhis parents subsists, in the netwealth of that parent whose net wealth excluding the assets of the minor childso includible under this sub-section) is greater; or (b) where the marriage ofhis parents does not subsist, in thenet wealth of that parent who maintains the minor child in the previous year asdefined in section 3of the Income-tax Act, andwhere any such assets are once included in the net wealth of either parent, anysuch assets shall not be included in the net wealth of the other parent in anysucceeding year unless the Assessing Officer is satisfied, after giving thatparent an opportunity of being heard, that it is necessary so to do.] 1 [(b)of an assessee who is a partner in a firm or a member of an association of persons (notbeing a co-operative.....
View Complete Act List Judgments citing this sectionWealth-tax Act, 1957 Section 17B
Title: Interest for Defaults in Furnishing Return of Net Wealth
State: Central
Year: 1957
.....section 16 or]on the basis of the earlier assessment aforesaid. 8 [*****] (4)Where, as a result of an order under section 23or section 24or section25or section 27or section 29or section 35or any order of the Wealth-tax Settlement Commissioner under sub-section (4)of section 22D,the amount of tax on which interest was payable under this section has beenincreased or reduced, as the case may be, the interest shall be increased orreduced accordingly, and, - (i) in a case where the interest is increased,the Assessing Officer shall serve on the assessee a notice of demand in theprescribed form specifying the sum payable, and such notice of demand shall bedeemed to be a notice under section 30and the provisions of this Act shall apply accordingly, and (ii)in a case where the interest is reduced, the excess interest paid, if any, shallbe refunded. (5)The provisions of this section shall apply in respect of assessments for theassessment year commencing on the 1stday of April, 1989and subsequent assessment years.] ___________________________ 1.Inserted by Act 4 of 1988, Section 141 w.e.f. 1-4-1989. 2.Substitutedfor "one and one-fourth" by TheTaxation Laws (Amendment).....
View Complete Act List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 45IA
Title: Requirement of Registration and Net Owned Fund
State: Central
Year: 1934
.....to the operation and consolidation of the financial sector consistent with monetary stability and economic growth considering such other relevant factors which the Bank may, by notification in the Official Gazette, specify; and (g) any other condition, fulfilment of which in the opinion of the Bank, shall be necessary to ensure that the commencement of or carrying on of the business in India by a non-banking financial company shall not be prejudicial to the public interest or in the interests of the depositors. (5) The Bank may, after being satisfied that the conditions specified in subsection (4) are fulfilled, grant a certificate of registration subject to such conditions which it may consider fit to impose. (6) The Bank cancel a certificate of registration granted to a non-banking financial company under this section if such company- (i) ceases to carry on the business of a non-banking financial institution in India; or (ii) has failed to comply with any condition subject to which the certificate of registration had been issued to it; or (iii) at any time fails to fulfil any of the conditions referred to in clauses (d) to (g) of sub-section (4); or (iv) fails-.....
View Complete Act List Judgments citing this sectionEstate Duty (Distribution) Act, 1962 [Repealed] Section 3
Title: Distribution of Net Proceeds of Estate Duty Assigned to the States
State: Central
Year: 1962
.....and brought into assessment in that financial year bears to the total gross value of all property brought into assessment in that year; (d) 'property" does not include agricultural land; (e) any property situated outside India shall be deemed to be situated in the State or, as the case may be, the Union Territory wherein the value of such property has been brought into assessment. ________________________ 1. Substituted for the words, figures and letters "the financial year commencing on the 1st day of April, 1984" by Estate Duty (Distribution) Amendment Act (Act 28 of 1985) w.e.f 01.04.1985. 2. Substituted for the words "be distributed, provisionally" by Estate Duty (Distribution) Amendment Act (Act 28 of 1985) w.e.f 01.04.1985.
View Complete Act List Judgments citing this sectionNational Housing Bank Act, 1987 Section 29A
Title: Requirement of Registration and Net Owned Fund
State: Central
Year: 1987
.....documents when so demanded by an inspecting authority of the National Housing Bank; or (v) has been prohibited from accepting deposit by an order made by the National Housing Bank under the provisions of this Chapter and such order has been in force for a period of not less than three months: Provided that before cancelling a certificate of registration on the ground that the housing finance institution has failed to comply with the provisions of clause (ii) or has failed to fulfil any of the conditions referred to in clauses (a) to (g) of subsection (4), the National Housing Bank, unless it is of the opinion that the delay in cancelling the certificate of registration shall be prejudicial to public interest or the interest of the depositors or the housing finance institution, shall give an opportunity to such institution on such terms as the National Housing Bank may specify for taking necessary steps to comply with such provision or fulfilment of such condition: Provided further that before making any order of cancellation of certificate of registration, such institution shall be given a reasonable opportunity of being heard. (7) A housing finance.....
View Complete Act List Judgments citing this sectionKarnataka Co-operative Societies Act, 1959 Section 57
Title: Net Profits and their Disposal
State: Karnataka
Year: 1959
.....shall be payable to members in a credit society; (d) constitution of, or contributions to, such special funds as may bespecified in the bye-laws; (e) donations of amounts not exceeding ten per cent of the net profitsfor any charitable purpose as defined in section 2 of Charitable Endowments Act, 1890 (Central Act VI of 1890); and (f) payment of bonus to employees of the society, to the extent andin the manner specified in the bye-laws: Provided that the bonus payable in any year to any employee shall not exceed two months' pay. 1 [(4) A co-operative society may pay dividend to its members from out of the balance of net profits available after making deductions as provided for under sub-sections (2), (2A) and (3) and the bye-laws of the society.] ________________________ 1. Inserted by Act 40 of 1964 w.e.f. 26.6.1965 & substituted by Act 25 of 1998 w.e.f.15.8.1998. 2. Inserted by Act 40 of 1964 w.e.f. 26.6.1965 & omitted by Act 25 of 1998 w.e.f. 15.8.1998. 3. Omitted by Act 40 of 1964 w.e.f. 26.6.1965.
View Complete Act List Judgments citing this sectionSick Industrial Companies (Special Provisions) Act, 1985 Section 23A
Title: Proceedings on Report, Etc., of Loss of Fifty Per Cent, Net Worth
State: Central
Year: 1985
.....company have resulted in erosion of fifty per cent. or more of its peak net worth during the immediately preceding four financial years, report the fact of such erosion to the Board. (2) If the Board has, upon information received or upon its own knowledge, reason to believe that the accumulated losses of any industrial company have resulted in erosion of fifty per cent. or more of its peak net worth during the immediately preceding four financial years, it may call for such information from the company as it may deem fit. (3) Where the Board is of the opinion that an industrial company referred to in sub-section (1) is not likely to make its net worth exceed its accumulated losses within a reasonable time while meeting all its financial obligations and that the company as a result thereof is not likely to become viable in future, it may require by order an operating agency to inquire into and make a report with respect to such matters as may be specified in the order. (4) After consideration of the report of the operating agency, the Board may publish or cause to be published a notice in such daily newspapers as the Board may consider necessary, for suggestions and.....
View Complete Act List Judgments citing this sectionMulti-state Co-operative Societies Act, 2002 Section 63
Title: Disposal of Net Profits
State: Central
Year: 2002
.....to such conditions as may be prescribed, the balance of the net profits may be utilised for all or any of the following purposes, namely:-- (a) payment of dividend to the members on their paid-up share capital at a rate not exceeding the prescribed limit; (b) constitution of, or contribution to, such special funds including education funds, as may be specified in the bye-laws; (c) donation of amounts not exceeding five per cent. of the net profits for any purpose connected with the development of co-operative movement or charitable purpose as defined in section 2 of the Charitable Endowments Act, 1890(6 of 1890); (d) payment of ex gratia amount to employees of the multi-State co-operative society to the extent and in the manner specified in the bye-laws.
View Complete Act List Judgments citing this sectionKarnataka Town and Country Planning Act, 1961 Section 65
Title: Payment of Net Amount Due to Planning Authority
State: Karnataka
Year: 1961
(1) The net amount payable under the provisions of this Act by the owner of a plot included in the final scheme may, at the option of the contributor, be paid in lump sum or annual instalments not exceeding ten. If the owner elects to pay the amount by instalments, interest at four and a half per cent per annum shall be charged on the net amount payable. If the owner of a plot fails to so elect on or before the date specified in a notice issued to him, he shall be deemed to have elected to pay the contribution by instalments and the interest on the contribution shall be calculated from the date specified in the notice, being the date before which he was required to make an election as aforesaid. (2) Where two or more plots included in the final scheme are in the same ownership, the net amount payable by such owner under the provisions of this Act shall be distributed over his several plots in proportion to the increment which is estimated to accrue in respect of each plot, unless the owner and the Planning Authority agree to a different method of distribution.
View Complete Act List Judgments citing this sectionMulti State Co-operative Societies Act, 1984 [Repealed] Section 61
Title: Disposal of Net Profits
State: Central
Year: 1984
.....the balance of the net profits may be utilised for all or any of the following purposes, namely :- (a) Payment of dividend to members on their paid-up share capital at a rate not exceeding the prescribed limit; (b) Constitution of or contribution to such special funds including education funds, as may be specified in the bye-laws; (c) Donation of amounts not exceeding five per cent of the net profits for any purpose connected with the development of co-operative movement or charitable purpose as defined in section 2 of the Charitable Endowments Act, 1890; (d) Payment of exgratia amount to employees of the multi-State co-operative society to the extent and in the manner specified in the bye-laws. (3) The funds of a multi-State co-operative society shall not be utilized for any political purpose.
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