Bare Act Search Results

Wealth-tax Act, 1957 Chapter V

Title: Liability to Assessment in Special Cases

State: Central

Year: 1957

.....assessment year.] ________________________ 1. Substituted by Act 44 of 1980, sec. 40(a), for "In the case of assetschargeable to tax under this Act" w.e.f. 1-4-1980. 2. Substituted by Act 46 of 1964, sec. 20(a), for "on whose behalf" w.e.f. 1-4-1965. 3.Inserted by Act 16 of 1981, sec. 26(a) w.e.f. 1-4-1981. 4. Substituted by Act 4 of 1988, sec. 127, for "Wealth-tax Officer" w.e.f. 1-4-1988. 5. Inserted by Act 44 of1980, sec. 40(b) w.e.f. 1-4-1980. 6. The words '(all of which persons are hereinafter in this sub-section included in the term "beneficiary")' omitted by Act 46 of 1964, sec. 20(b)(i) w.e.f. 1-4-1965. 7. Substituted by Act 46 of 1964, sec. 20(b)(ii), for "on behalf of such beneficiary" w.e.f. 1-4-1965. 8.Substituted by Act 19 of 1970, sec. 26(e) w.e.f. 1-4-1971. 9. Substituted by Act 16 of 1981, sec. 26(b)(i), for "Notwithstanding anything contained in this section" w.e.f. 1-4-1981. 10. Substituted by Act 44of 1980, sec. 40(c)(i) w.e.f. 1-4-1980. 11. Substituted by Act 66 of 1976, sec. 27(4), for "the Schedule" w.e.f. 1-4-1977. 12. The words "in the case of an individual" omitted by Act 32 of 1971, sec. 34(a) w.e.f. 1-4-1972. 13. Substituted.....

Wealth-tax Act, 1957 Section 21

Title: Assessment when Assets Are Held by Courts of Wards, Administrators-general, Etc.

State: Central

Year: 1957

.....or deed.] 17 [Explanation 18 [2]. - Notwithstanding anything contained in section 5, incomputing the net wealth 19 [for the purposes of this sub-section orsub-section (4A) in any case, not being a case referred to in the proviso tothis sub-section], any assets referred to in clauses (xv), (xvi), (xxii),(xxiii), (xxiv), (xxv), (xxvi), (xxvii), (xxviii) and (xxix), of sub-section (I)of that section shall not be excluded.] 20 [(4A)Notwithstanding anything contained in this section, where the assets chargeableto tax under this Act are held by a trustee under an oral trust, the wealth-taxshall be levied upon and recovered from such trustee in the like manner and tothe same extent as it would be leviable upon and recoverable from an individualwho is a citizen of India and resident in India for the purposes of this Act,and- (a)at the rates specified in Part I of Schedule I; or (b)at the rate of three per cent, whichever course would be more beneficial to therevenue. Explanation.-For the purposes ofthis sub-section, "oral trust" means a trust which is not declared bya duly executed instrument in writing (including a valid deed of wakf) and whichis not deemed under the.....

Monopolies and Restrictive Trade Practices Act, 1969 Complete Act

State: Central

Year: 1969

MONOPOLIES AND RESTRICTIVE TRADE PRACTICES ACT, 1969 MONOPOLIES AND RESTRICTIVE TRADE PRACTICES ACT, 1969 54 of 1969 An Act to provide that the operation of the economic system does not result in the concentration of economic power to the common detriment, for the control of monopolies, for the prohibition of monopolistic and restrictive trade practices and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Twentieth Year of the Republic of India as follows:- SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Monopolies and Restrictive Trade Practices Act, 1969. (2) It extends to the whole of India except the State of Jammu and Kashmir. (3) It shall come into force on such date as the Central Government may,1[by notification], appoint. SECTION 02: DEFINITIONS In this Act, unless the context otherwise requires,- (a) "agreement" includes any arrangement or understanding, whether or not it is intended that such agreement shall be enforceable (apart from any provision of this Act) by legal proceedings ; (b) "Commission" means the Monopolies and Restrictive Trade Practices Commission established under.....

Trusts Act, 1882 Complete Act

State: Central

Year: 1882

.....known it, or when information of the fact is given to or obtained by his agent, under the circumstances mentioned in the section 229 Indian Contract Act, 1872 (9 of 1872)-, ; and all expressions used herein and defined in the Indian Contract Act, 1872 (expressions defined in Act 9 of 1872), shall be deemed to have the meanings respectively attributed to them by that Act. SECTION 04: LAWFUL PURPOSE. A trust may be created for any lawful purpose. The purpose of a trust is lawful unless it is (a) forbidden by law, or (b) is of such a nature that, if permitted, it would defeat the provisions of any law, or (c) is fraudulent, or (d) involves or implies injury to the person or property of another, or (e) the Court regards it as immoral or opposed to public policy. Every trust of which the purpose is unlawful is void. And where a trust is created for two purposes, of which one is lawful and the other unlawful, and the two purposes, cannot be separated, the whole trust is void. SECTION 05: TRUST OF IMMOVABLE PROPERTY No trust in relation to immoveable property is valid unless declared by a non-testamentary instrument in writing signed by the author of the trust or the.....

Income Tax Act, 1961 Section 164

Title: Charge of Tax Where Share of Beneficiaries Unknown

State: Central

Year: 1961

.....which is of the nature referred to in sub-section (4A) of section 11, tax shall be charged on so much of the relevant income as is not exempt under section 11 or section 12, as if the relevant income not so exempt were the income of an association of persons: Provided that in a case where the whole or any part of the relevant income is not exempt under section 11 or section 12 by virtue of the provisions contained in clause (c) or clause (d) of sub-section (1) of section 13, tax shall be charged on the relevant income or part of relevant income at the maximum marginal rate. (3) In a case where the relevant income is derived from property held under trust in part only for charitable or religious purposes or is of the nature referred to in sub-clause (iia) of clause (24) of section 2 or is of the nature referred to in sub-section (4A) of section 11, and either the relevant income applicable to purposes other than charitable or religious purposes (or any part thereof) is not specifically receivable on behalf or for the benefit of any one person or the individual shares of the beneficiaries in the income so applicable are indeterminate or unknown, the tax chargeable on the.....

Code of Civil Procedure, 1908 Order 1 Rule 1 to 13

Title: Parties to Suits

State: Central

Year: 1908

.....in such persons, whether jointly, severally or in the alternative; and (b) if such persons brought separate suits, any common question of law or fact would arise.] 2. Power of Court to order separate trials Where it appears to the Court that any joinder of plaintiffs may embarrass or delay the trial of the suit, the Court may put the plaintiffs to their election or order separate trials or make such other order as may be expedient. 2[3. Who may be joined as defendants All persons may be joined in one suit as defendants where-- (a) any right to relief in respect of, or arising out of, the same act or transaction or series of acts or transactions is alleged to exist against such persons, whether jointly, severally or in the alternative; and (b) if separate suits were brought against such persons, any common question of law or fact would arise.] 3[3-A. Power to order separate trials where joinder of defendants may embarrass or delay trial Where it appears to the Court that any joinder of defendants may embarrass or delay the trial of the suit, the Court may order separate trials or make such other order as may be expedient in the interests of justice.] 4......

Income Tax Act, 1961 Chapter I

Title: Preliminary

State: Central

Year: 1961

.....were, as on the last day of the relevant previous year, listed in a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956), and any rules made thereunder ; (B) shares in the company (not being shares entitled to a fixed rate of dividend whether with or without a further right to participate in profits) carrying not less than fifty per cent of the voting power have been allotted unconditionally to, or acquired unconditionally by, and were throughout the relevant previous year beneficially held by (a) the Government, or (b) a corporation established by a Central, State or Provincial Act, or (c) any company to which this clause applies or any subsidiary company of such company if the whole of the share capital of such subsidiary company has been held by the parent company or by its nominees throughout the previous year. Explanation : In its application to an Indian company whose business consists mainly in the construction of ships or in the manufacture or processing of goods or in mining or in the generation or distribution of electricity or any other form of power, item (B) shall have effect as if for the.....

Income Tax Act, 1961 Section 2

Title: Definitions

State: Central

Year: 1961

.....were, as on the last day of the relevant previous year, listed in a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956), and any rules made thereunder ; (B) shares in the company (not being shares entitled to a fixed rate of dividend whether with or without a further right to participate in profits) carrying not less than fifty per cent of the voting power have been allotted unconditionally to, or acquired unconditionally by, and were throughout the relevant previous year beneficially held by (a) the Government, or (b) a corporation established by a Central, State or Provincial Act, or (c) any company to which this clause applies or any subsidiary company of such company if the whole of the share capital of such subsidiary company has been held by the parent company or by its nominees throughout the previous year. Explanation : In its application to an Indian company whose business consists mainly in the construction of ships or in the manufacture or processing of goods or in mining or in the generation or distribution of electricity or any other form of power, item (B) shall have effect as if for the.....

Finance (No. 2) Act, 1980 Section 27

Title: Amendment of Section 164

State: Central

Year: 1980

.....1 : For the purposes of this section, - (i) any income in respect of which the persons mentioned in clause (iii) and clause (iv) of sub-section (1) of section 160 are liable as representative assessee or any part thereof shall be deemed as being not specifically receivable on behalf or for the benefit of any one person unless the person on whose behalf or for whose benefit such income or such part thereof is receivable during the previous year is expressly stated in the order of the court or the instrument of trust or wakf deed, as the case may be, and is identifiable as such on the date of such order, instrument or deed; (ii) the individual shares of the persons on whose behalf or for whose benefit such income or such part thereof is received shall be deemed to be indeterminate or unknown unless the individual shares of the persons on whose behalf or for whose benefit such income or such part thereof is receivable, are expressly stated in the order of the court or the instrument of trust or wakf deed, as the case may be, and are ascertainable as such on the date of such order, instrument or deed. Explanation 2 : In this section, "maximum marginal rate" means the.....

Finance Act 1970 Section 26

Title: Amendment of Act 27 of 1957

State: Central

Year: 1970

.....long-term finance for industrial development in India and which is approved by the Central Government for the purposes of clause (viii) of sub-section (1) of section 36 of the Income-tax Act."; (ii) after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of April, 1971, namely :- "(1A) Nothing contained in sub-section (1) shall operate to exclude from the net wealth of the assessee any assets referred to in clauses (xv), (xvi), (xxii), (xxiii), (xxiv), (xxv), (xxvi) and (xxvii) [not being deposits under the Post Office Savings Bank (Cumulative Time Deposits) Rules, 1959], to the extent the value thereof exceeds in the aggregate, a sum of one hundred and fifty thousand rupees : Provided that where the assets include any assets referred to in clause (xv) or clause (xvi) [not being deposits under the Post Office Saving Bank (Cumulative Time Deposits) Rules, 1959], which have been held by the assessee continuously from a date prior to the 1st day of March, 1970, and the value of the assets so included exceeds the limit of one hundred and fifty thousand rupees by any amount, such limit shall be raised by the said amount."; (iii) in.....