Bare Act Search Results

Finance Act, 1981 Chapter III

Title: Direct Taxes

State: Central

Year: 1981

.....words "first proviso" shall be substituted. Section 26 to 31 - Wealth-Tax Section 26 - Amendment Of Section 21 In section 21 of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), - (a) in sub-section (1), the following Explanation shall be inserted, namely :- "Explanation : A trust which in not declared by a duly executed instrument in writing (including a valid deed of wakf) shall be deemed, for the purposes of this sub-section, to be a trust declared by a duly executed instrument in writing if a statement in writing, signed by the trustee or trustees, setting out the purpose or purposes of the trust, particulars as to the trustee or trustees, the beneficiary or beneficiaries and the trust property, is forwarded to the Wealth-tax Officer, - (i) where the trust has been declared before the 1st day of June, 1981, within a period of three months from that day; and (ii) in any other case, within three months from the date of declaration of the trust."; (b) in sub-section (4), - (i) for the words "Notwithstanding anything contained in this section", the words "Notwithstanding anything contained in the foregoing provisions of this.....

Finance Act, 1981 Section 15

Title: Insertion of New Section 164a

State: Central

Year: 1981

After section 164 of the Income-tax Act, the following section shall be inserted, namely :- '164A. Charge of tax in case of oral trust. Where a trustee receives or is entitled to receive any income on behalf or for the benefit of any person under an oral trust, then, notwithstanding anything contained in any other provision of this Act, tax shall be charged on such income at the maximum marginal rate. Explanation : For the purposes of this section, - (i) "maximum marginal rate" shall have the meaning assigned to it in Explanation 2 below sub-section (3) of section 164; (ii) "oral trust" shall have the meaning assigned to it in Explanation 2 below sub-section (1) of section 160.'.

Finance Act, 1981 Section 14

Title: Amendment of Section 160

State: Central

Year: 1981

In section 160 of the Income-tax Act, in sub-section (1), after clause (iv), the following clause and Explanations shall be inserted, namely :- '(v) in respect of income which a trustee appointed under an oral trust receives or is entitled to receive on behalf or for the benefit of any person, such trustee or trustees. Explanation 1 : A trust which is not declared by a duly executed instrument in writing [including any wakf deed which is valid under the Mussalman Wakf Validation Act, 1913 (6 of 1913)] shall be deemed, for the purposes of clause (iv), to be a trust declared by a duly executed instrument in writing if a statement in writing, signed by the trustee or trustees, setting out the purpose or purposes of the trust, particulars as to the trustee or trustees, the beneficiary or beneficiaries and the trust property, is forwarded to the Income-tax Officer, - (i) where the trust has been declared before the 1st day of June, 1981, within a period of three months from that day; and (ii) in any other case, within three months from the date of declaration of the trust. Explanation 2 : For the purposes of clause (v), "oral trust" means a trust which is not declared by a.....

Finance Act, 1981 Section 26

Title: Amendment of Section 21

State: Central

Year: 1981

In section 21 of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), - (a) in sub-section (1), the following Explanation shall be inserted, namely :- "Explanation : A trust which in not declared by a duly executed instrument in writing (including a valid deed of wakf) shall be deemed, for the purposes of this sub-section, to be a trust declared by a duly executed instrument in writing if a statement in writing, signed by the trustee or trustees, setting out the purpose or purposes of the trust, particulars as to the trustee or trustees, the beneficiary or beneficiaries and the trust property, is forwarded to the Wealth-tax Officer, - (i) where the trust has been declared before the 1st day of June, 1981, within a period of three months from that day; and (ii) in any other case, within three months from the date of declaration of the trust."; (b) in sub-section (4), - (i) for the words "Notwithstanding anything contained in this section", the words "Notwithstanding anything contained in the foregoing provisions of this section" shall be substituted; (ii) in Explanation 2, for the words "for the purposes of this sub-section in any.....

Air (Prevention and Control of Pollution) Act, 1981 Complete Act

State: Central

Year: 1981

AIR (PREVENTION AND CONTROL OF POLLUTION) ACT, 1981 AIR (PREVENTION AND CONTROL OF POLLUTION) ACT, 1981 An Act to provide for the prevention, control and abatement of air pollution, for the establishment, with a view to carrying out the aforesaid purposes, of Boards, for conferring on and assigning to such Boards, powers and functions relating thereto and for matters connected therewith Whereas decisions were taken at the United Nations Conference on the Human Environment held in Stockholm in June, 1972, in which India participated, to take appropriate steps for the preservation of the natural resources of the earth which, among other things, include the preservation of the quality of air and control of air pollution; And whereas it is considered necessary to implement the decisions aforesaid insofar as they relate to the preservation of the quality of air and control of air pollution; Be it enacted by Parliament in the Thirty-second Year of the Republic of India as follows CHAPTER I : PRELIMINARY SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Air (Prevention and Control of Pollution) Act, 1981. (2) It extends to the whole of.....