Bare Act Search Results

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.....

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the Vindhya Pradesh Municipalities Act, 1946 and the Bhopal State Municipalities Act, 1955 (III of 1956), are hereby repealed.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,.....

Criminal Law Amendment Act, 1961 Section 4

Title: Power to Declare Certain Publications Forfeited and to Issue Search Warrants for the Same

State: Central

Year: 1961

(1) Where any newspaper or book as defined in the Press and Registration of Books Act, 1867, or any other document, wherever printed appears to the State Government to contain any matter the publication of which is punishable under section 2 or sub-section (2) of section 3, the State Government may, by notification in the Official Gazette, staling the grounds of its opinion, declare every copy of the issue of the newspaper containing such matter and every copy of such book or other document to be forfeited to the Government, and thereupon any police officer may seize the same wherever found and any Magistrate may by warrant authorise any police officer not below the rank of Sub-Inspector to enter upon and search for the same in any premises where any copy of such issue or any copy of such book or other document may be or may be reasonably suspected to be, (2) The powers conferred by sub-section (1) on the State Government may also be exercised by the Central Government. (3) In sub-section (1) "document" includes also any painting, drawing or photograph, or other visible representation.

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.....

Income Tax Act, 1961 Section 47

Title: Transactions Not Regarded as Transfer

State: Central

Year: 1961

.....in a scheme of amalgamation of a banking company with a banking institution sanctioned and brought into force by the Central Government under sub-section (7) of section 45 of the Banking Regulation Act, 1949 (10 of 1949), of a capital asset by the banking company to the banking institution. Explanation: For the purposes of this clause,-- (i) banking company shall have the same meaning assigned to it in clause (c) of section 5 of the Banking Regulation Act, 1949; (ii) banking institution shall have the same meaning assigned to it in sub-section (15) of section 45 of the Banking Regulation Act, 1949 (10 of 1949);] 4[(vib) any transfer, in a demerger, of a capital asset by the demerged company to the resulting company, if the resulting company is an Indian company;] 4[(vic) any transfer in a demerger, of a capital asset, being a share or shares held in an Indian company, by the demerged foreign company to the resulting foreign company, if - (a) 5[the shareholders holding not less than three-fourths in value of the shares] of the demerged foreign company continue to remain shareholders of the resulting foreign company; and (b) such transfer does not attract tax on.....

Income Tax Act, 1961 Section 56

Title: Income from Other Sources

State: Central

Year: 1961

.....that where the stamp duty value of immovable property as referred to in sub-clause (b) is disputed by the assessee on grounds mentioned in sub-section (2) of section 50C, the Assessing Officer may refer the valuation of such property to a Valuation Officer, and the provisions of section 50C and sub-section (15) of section 155 shall, as far as may be, apply in relation to the stamp duty value of such property for the purpose of sub-clause (b) as they apply for valuation of capital asset under those section: Provided further that this clause shall not apply to any sum of money or any property received-- (a) from any relative; or (b) on the occasion of the marriage of the individual; or (c) under a will or by way of inheritance; or (d) in contemplation of death of the payer or donor, as the case may be; or (e) from any local authority as defined in the Explanation to clause (20) of section 10; or (f) from any fund or foundation or university or other educational institution or hospital or other medical institution or any trust or institution referred to in clause (23C) of section 10; or (g) from any trust or institution registered under section 12AA. .....

Income Tax Act, 1961 Section 115WB

Title: Fringe Benefits

State: Central

Year: 1961

.....of trade but does not include - (i) any expenditure on, or payment for, food or beverages provided by the employer to his employees in office or factory; (ii) any expenditure on or payment through paid vouchers which are not transferable and usable only at eating joints or outlets; 5[(iii) any expenditure on or payment through non-transferable pre-paid electronic meal card usable only at eating joints or outlets and which fulfils such other conditions as may be prescribed;] (C) conference (other than fee for participation by the employees in any conference). Explanation : For the purposes of this clause, any expenditure on conveyance, tour and travel (including foreign travel), on hotel, or boarding and lodging in connection with any conference shall be deemed to be expenditure incurred for the purposes of conference; (D) sales promotion including publicity: Provided that any expenditure on advertisement, (i) being the expenditure (including rental) on advertisement of any form in any print (including journals, catalogues or price lists) or electronic media or transport system; (ii) being the expenditure on the holding of, or the participation in, any press.....

Income Tax Act, 1961 Schedule XIII

Title: List of Articles or Things

State: Central

Year: 1961

.....chemical fertilizers 31.02 to 31.05 2412 15. Insecticides, fungicides, herbicides and pesticides (basic manufacture and formulation) 3808.10 24211 or 24219 16. Fibre glass and articles thereof 70.14 26102 17. Manufacture of pulp wood pulp, mechanical or chemical (including dissolving pulp) 47.01 21011 18. Branded aerated water/soft drinks (non-fruit based) 2201.20 2202.20 15541 or 15542 3[19. Manufacture of pulp-wood pulp, mechanical or chemical (including dissolving pulp) 4701.00 Newsprint in rolls or sheets 4801.00 Writing or printing paper for printing of educational textbooks 4802.10 Paper or paperboard, in the manufacture of which- 4802.20 (a) the principal process of lifting the pulp is done by hand; and (b) if power driven sheet forming equipment is used, the Cylinder Mould Vat does not exceeds 40 inches .....

Salar Jung Museum Act, 1961 Schedule I

Title: Schedule

State: Central

Year: 1961

THE SCHEDULE (See section 17) PART I All the antiques, curios cabinets, works of art, statues, paintings, furniture and all other articles, included in the list marked A annexed to the compromise petition dated the 2nd day of December, 1958 filed in C.S.No 13 of 1958 in the High Court of Andhra Pradesh, in terms of which a decree was passed in that suit on the 5th day of March, 1959. PART II The entire library including books, qatas and manuscripts in all languages whether printed or handwritten on paper or other material, included in the list marked B annex to the said compromise petition. PART III The land admeasuring about 28,390 sq. yds. described and delineated in the plan marked C annexed to the said compromise petition.