Bare Act Search Results

Finance Act, 2001 Complete Act

State: Central

Year: 2001

FINANCE ACT, 2001 FINANCE ACT, 2001 14 of 2001 An Act to give effect to the financial proposals of the Central Government for the financial year 2001-2002 BE it enacted by Parliament in the Fifty-second Year of the Repub of India as follows :" SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called theFinance Act, 2001-. (2) Save as otherwise provided in this Act,section 2-toSection 101-shall be deemed to have come into force on the 1st day of April, 2001. SECTION 02: INCOME-TAX (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2001, income-tax shall be charged at the rates specified in Part I of the First Schedule and such tax as reduced by the rebate of income-tax calculated underChapter 8A of the Income-tax Act, 1961-(43 of 1961) (hereinafter referred to as the Income-tax Act) shall be increased," (a) in the cases to which Paragraphs A, B, C and D of that Part apply, by a surcharge for purposes of the Union; and (b) in the cases to which Paragraph E of that Part applies, by a surcharge, calculated in each case in the manner provided therein. (2) In the cases to which Paragraph A of.....

Finance Act 2001 Chapter 3

Title: Direct Taxes

State: Central

Year: 2001

.....consists of a house or part of a house which - (a) is in the occupation of the owner for the 'purposes of his own residence; or (b) cannot actually be occupied by the owner by reason of the fact that owing to his employment, business or profession carried on at any other place, he has to reside at that other place in a building not belonging to him. the annual value of such house or part of the house shall be taken to be nil. (3) The provisions of sub-section (2) shall not apply if- (a) the house or part of the house is actually let during the whole or any part of the previous year; or (b) any other benefit there from is derived by the owner. (4) Where the property referred to in sub-section (2) consists of more than one house (a) the provisions of that sub-section shall apply only in respect of one of such houses, which the assessee may, at his option, specify in this behalf ; (b) the annual value of the house or houses, other than the house in respect of which the assessee has exercised an option under clause (a), shall be determined under sub-section (1) as if such house or houses had been let.". Section 15 - Substitution of new section for section 24.....

Finance Act 2001 Section 49

Title: Substitution of New Sections for Section 92

State: Central

Year: 2001

.....length price of such benefit, service or facility, as the case may be. 92A. Meaning of associated enterprise.- (1) For the purposes of this section and sections 92, 92B, 92C, 92D, 92E and 92F, "associated enterprise", in relation to another enterprise, means an enterprise- (a) which participates, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise; or (b) in respect of which one or more persons who participate, directly or indirectly, or through one or more intermediaries, in its management or control or capital, are the same persons who participate, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise. (2) Two enterprises shall be deemed to be associated enterprises if, at any time during the previous year,- (a) one enterprise holds, directly or indirectly, shares carrying not less than twenty-six per cent. of the voting. power in the other enterprise ; or (b) any person or enterprise holds, directly or indirectly, shares carrying not less than twenty-six per cent. of the voting power in each of such enterprises;.....

Constitution (Eighty-fifth Amendment) Act, 2001 Section 2

Title: Amendment of Article 16

State: Central

Year: 2001

In article 16 of the Constitution, in clause (4A), for the words "in matters of promotion to any class", the words "in matters of promotion, with consequential seniority, to any class" shall be substituted.

Finance Act 2001 Schedule III

Title: Third Schedule

State: Central

Year: 2001

.....of opium and their derivatives; salts thereof: 2939.11 -- Concentrates of poppy straw; buprenorphine (INN), codeine, dihydrocodeine (INN), ethylmorphine, etorphine (INN), heroin, hydrocodone (INN), hydromorphone (INN), morphine, nicomorphine (INN), oxycodone (INN), oxymorphone (INN), pholcodine (INN), thebacon (INN) and thebaine; salts thereof 35% .. 2939.19 -- Other 35% .."; (b) after sub-heading No. 2939.42 and the entries relating thereto, the following sub-heading and entry shall be inserted, namely:-- "2939.43 -- Cathine (INN) and its salts 35% 25%"; (c) for sub-heading No. 2939.50 and the entries relating thereto, the following sub-headings and entries shall be substituted, namely:-- "-Theophylline and aminophylline (theophylline-ethylenediamine) and their derivatives; salts thereof: 2939.51 -- Fenetylline (INN) and its salts 35% 25% 2939.59 -- Other 35% 25%"; (d).....

Finance Act 2001 Section 23

Title: Amendment of Section 35

State: Central

Year: 2001

In section 35 of the Income-tax Act, with effect from the 1st day of April, 2002,- (a) in sub-section (2AA),- (i) for the words "University or an Indian Institute of Technology", the words "University or an Indian Institute of Technology or a specified person" shall be substituted ; (ii) in the Explanation, after clause (c), the following clause shall be inserted, namely :- '(d) "specified person" means such person as is approved by the prescribed authority.'; (b) in sub-section (2AB),- (i) in clause (1), for the words "engaged in the business of", the words "engaged in the business of bio-technology or in the business of" shall be substituted ; (ii) after clause (1), the following Explanation shall be inserted, namely :- 'Explanation.-For the purposes of this clause, "expenditure on scientific research", in relation to drugs and pharmaceuticals, shall include expenditure incurred on clinical drug trial, obtaining approval from any regulatory authority under any Central, State or Provincial Act and filing an application for a patent under the Patents Act, 1970 (39 of 1970).'.

The Indian Stamp (Orissa Amendment) Act, 2001 Complete Act

State: Orissa

Year: 2001

.....(Orissa Amendment) Act, 2001. 2. Amendment of section 4. In section 4 of the Indian Stamp Act, 1899 (hereinafter referred to as the principal Act) in sub-section (1), for the words "one rupee and eight annas", the words "ten rupees" shall be substituted. 3. Amendment of section 6. In the proviso to section 6 of the principal Act, for the words "one rupee and eight annas", the words "ten rupees" shall be substituted. 4. Amendment of section 31. In section 31 of the principal Act, in sub-section (1), for the words "not exceeding five rupees" and "not less than fifty naye paise", the words "not exceeding twenty rupees" and "not less than five rupees", shall respectively be substituted. 5. Amendment of section 47-A. In section 47-A of the principal Act, in sub-section (2-a), for the words "two years", the words "three years" shall be substituted. 6.Amendment of section 73. For section 73 of the principal Act, the following section shall be sub stituted, namely:" "73. (1) Every public officer or any person having in his custody any registers, books, records, papers, documents or proceedings, the inspections whereof may tend to secure any duty, or to prove or.....

The Jharkhand Panchayat Raj Act, 2001 Complete Act

State: Jharkhand

Year: 2001

.....of the Patna Municipal Corporation Act, 1951 (Bihar Act XIII of 1952); Bihar & Orissa Municipal Act, 1922 (Bihar Act VII of 1922) or Cantonment Act, 1924 (Act II of 1924) apply. (iii) It shall come into force on such date as the Jharkhand Government may, by notification in the official gazette, appoint and different dates may be appointed for different areas and for different provisions. Section 2 - Definitions In this Act unless there is anything repugnant in the context : (i) "Population" means the population as ascertained at the last preceding census of which the relevant figures have been published; (ii) "Village" means a village specified by the State Government, by notification in the official gazette to be a village for the purposes of this Act, and includes a village or a group of villages/ Tolas so specified. The word "village" includes a revenue village; but in the scheduled area, a 'village' means any such village in The scheduled area in which there will ordinarily be a residence or a group of residences, or a tola or a group of tolas, comprising such community as manages its activities according to its customs and usages; (iii) "Gram Sabha" means a.....

Finance Act 2001 Chapter IV

Title: Indirect Taxes

State: Central

Year: 2001

.....notification or order, as the case may be, had not been amended, repealed, superseded or rescinded.". Section 114 - Validation of certain action taken Any action taken or anything done or omitted to be done or purported to have been taken or done or omitted to be done under any rule, regulation, notification or order made or issued under the Customs Act, or any notification or order issued under such rule or regulation at any time during the period commencing on and from the 1st day of February, 1963 and ending with the day the Finance Bill, 2001 receives the assent of the President shall be deemed to be, and to always have been, for all purposes, as validly and effectively taken or done or omitted to be done as if the amendment made by section 107 of the Finance Act, 2001 had been in force at all material time and accordingly, notwithstanding anything contained in any judgment, decree or order of any court, tribunal or other authority,- (a) any action taken or anything done or, omitted to be done, during the said period in respect of any goods under any of such rule, regulation, notification or order, shall be deemed to be and shall be deemed to always have been,.....

Finance Act 2001 Section 116

Title: Amendment of Section 3

State: Central

Year: 2001

.....Gazette, specify the rate of additional duty having regard to the excise duty for the time being leviable on a like alcoholic liquor produced or manufactured in different States, or, if a like alcoholic liquor is not produced or manufactured in any State, then, having regard to the excise duty which would be leviable for the time being in different States on the class or description of alcoholic liquor to which such imported alcoholic liquor belongs"; (b) in sub-section (2), after clause (ii), the following proviso and Explanation shall be inserted, namely:- "Provided that in case of an article imported into India,- (a) in relation to which it is required, under the provisions of the Standards of Weights and Measures Act, 1976 or the rules made thereunder or under any other law for the time being in force, to declare on the package thereof the retail sale price of such article; and (b) where the like article produced or manufactured in India, or in case where such like article is not so produced or manufactured, then, the class or description of articles to which the imported article belongs, is the goods specified by notification in the Official Gazette under sub-section.....