Bare Act Search Results

Income Tax Act, 1961 Section 3

Title: "previous Year" Defined

State: Central

Year: 1961

.....effect from 1st April, 2000. Prior to substitution, section 3 stood as under : 3. "Previous year" defined. (1) Save as otherwise provided in this section, "previous year" for the purposes of this Act, means the financial year immediately preceding the assessment year : Provided that, in the case of a business or profession newly set-up, or a source of income newly coming into existence, in the said financial year, the previous year shall be the period beginning with the date of setting up of the business or profession or, as the case may be, the date on which the source of income newly comes into existence and ending with the said financial year. (2) Previous year, in relation to the assessment year, commencing on the 1st day of April, 1989, means the period which begins with the date immediately following the last day of the previous year relevant to the assessment year commencing on the 1st day of April, 1988 and ends on the 31st day of March, 1989 : Provided that where the assessee has adopted more than one period as the previous year in relation to the assessment year commencing on the 1st day of April, 1988 for different sources of his income, the previous year in.....

Income Tax Act, 1961 Section 88B

Title: Rebate of Income-tax in Case of Individuals of Sixty-five Years or Above [Omitted]

State: Central

Year: 1961

1[***] ____________________ 1. Omitted by the Finance Act, 2005, with effect from 1st April, 2006. Prior to omission, section 88B as amended by the Finance Act, 1997, with effect from 1st April, 1998; Finance Act, 2000, with effect from 1st April, 2001 and Finance Act, 2003, with effect from 1st April, 2004, stood as under: 88B. Rebate of income-tax in case of individuals of sixty-five years or above An assessee, being an individual resident in India, who is of the age of sixty-five years or more at any time during the previous year shall be entitled to a deduction from the amount of income-tax (as computed before allowing the deduction under this Chapter) on his total income, with which he is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of twenty thousand rupees, whichever is less.

Income Tax Act, 1961 Section 88C

Title: Rebate of Income-tax in Case of Women Below Sixty-five Years [Omitted]

State: Central

Year: 1961

1[***] ____________________ 1. Omitted by the Finance Act, 2005, with effect from 1st April, 2006. Prior to omission, section 88C, as inserted by the Finance Act, 2000, with effect from 1st April, 2001, stood as under: 88C. Rebate of income-tax in case of women below sixty-five years. An assessee, (a) being a woman resident in India ; and (b) below the age of sixty-five years, at any time during the previous year, shall be entitled to a deduction from the amount of income-tax (as computed before allowing the deductions under this Chapter) on her total income, with which she is chargeable for any assessment year, of an amount equal to hundred per cent of such income-tax or an amount of five thousand rupees, whichever is less.

Bombay Cotton (Statistics) Act, 1946, (Maharashtra) Section 3

Title: Delivery of Yearly Returns of Cotton

State: Maharashtra

Year: 1946

(1) Every trader and every owner shall on or before 15th September each year submit to the Director, through such officer as the 1[State] Government may by notification in the Official Gazette from time to time specify, a return in the prescribed form of the quantity of cotton in his possession on the last day of the previous year : Provided that, the 1[State] Government may, in any year by notification in the Official Gazette, fix any later date" for the submission of returns. (2) Every return submitted under sub-section (1) shall be signed by the person submitting it. ________________________ 1. This word was substituted for the word "Provincial" by the Adaptation of Laws Order, 1950.

Finance Act 1972 Section 59

Title: Certain Casual and Non-recurring Receipts Not to Be Included in the Totalincome for the Assessment Year 1972-73

State: Central

Year: 1972

Notwithstanding the amendments made by this Act to the Income-tax Act, in computing, in the case of any person, the total income of a previous year relevant to the assessment year commencing on the 1st day of April, 1972, any income falling within clause (3) of section 10 of the Income-tax Act as it stood immediately before the 1st day of April, 1972, shall not be included.

Income Tax Act, 1961 Chapter III

Title: Incomes Which Do Not Form Part of Total Income

State: Central

Year: 1961

.....him as an employee of the employer from whose service he has retired; (10B) any compensation received by a workman under the Industrial Disputes Act, 1947 (14 of 1947), or under any other Act or Rules, orders or notifications issued thereunder or under any standing orders or under any award, contract of service or otherwise, at the time of his retrenchment: Provided that the amount exempt under this clause shall not exceed (i) an amount calculated in accordance with the provisions of clause (b) of section 25F of the Industrial Disputes Act, 1947 (14 of 1947); or (ii) such amount, not being less than fifty thousand rupees, as the Central Government may, by notification in the Official Gazette, specify in this behalf, whichever is less : Provided further that the preceding proviso shall not apply in respect of any compensation received by a workman in accordance with any scheme which the Central Government may, having regard to the need for extending special protection to the workmen in the undertaking to which such scheme applies and other relevant circumstances, approve in this behalf. Explanation : For the purposes of this clause (a) compensation received by a.....

Income Tax Act, 1961 Chapter VIA

Title: Deductions to Be Made in Computing Total Income

State: Central

Year: 1961

.....any premium or other payment made on an insurance policy other than a contract for a deferred annuity as is not in excess of twenty per cent of the actual capital sum assured. Explanation : In calculating any such actual capital sum assured, no account shall be taken (i) of the value of any premiums agreed to be returned, or (ii) of any benefit by way of bonus or otherwise over and above the sum actually assured, which is to be or may be received under the policy by any person. (4) The persons referred to in sub-section (2) shall be the following, namely: (a) for the purposes of clauses (i), (v), (x) and (xi) of that sub-section, (i) in the case of an individual, the individual, the wife or husband and any child of such individual, and (ii) in the case of a Hindu undivided family, any member thereof; (b) for the purposes of clause (ii) of that sub-section, in the case of an individual, the individual, the wife or husband and any child of such individual; (c) for the purpose of clause (xvii) of that sub-section, in the case of an individual, any two children of such individual. (5) Where, in any previous year, an assessee (i) terminates his contract of insurance.....

Government of India Act, 1915-19 [Repealed] Repealing Act 1

Title: Government of India Act, 1935

State: Central

Year: 1915

.....of ministers. (3) If any question arises whether any matter is or is not a matter as respects which the Governor-General is by or under this Act required to act in his discretion or to exercise his individual judgment, the decision, of the Governor-General in his discretion shall be final, and the validity of anything done by the Governor-General shall not be called in question on the ground that he ought or ought not to have acted in his discretion, or ought or ought not to have exercised his individual judgment]. ___________________________ 1.These words up to the end of the section were omitted, by the India (Provisional Constitution) Order, 1947. 10. Other Provisions as to ministers (1) The Governor-General's ministers shall be chosen and summoned by him, shall be sworn as members of the council, and shall hold office during his pleasure. (2) A minister who for any period of six consecutive months is not a member of 1 [either Chamber of] the Federal Legislature shall at the expiration of that period cease to be a minister. (3) The salaries of ministers shall be such as the Federal Legislature may from time to time by Act determine and, until the Federal.....

Companies Act, 1956 Complete Act

State: Central

Year: 1956

.....as in the (Depositories Act, 1996) (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of (S.2 of the Securities Contracts (Regulation) Act, 1956) (42 of 1956);] (13) "director" includes any person occupying the position of director, by whatever name called; (14) "District Court" means the principal Civil Court of original jurisdiction in a district, but does not include a High Court in the exercise of its ordinary original civil jurisdiction ; [(14A) "dividend" includes any interim dividend;] (15) "document" includes summons, notice, requisition, order, other legal process, and registers, whether issued, sent or kept in pursuance of this or any other Act or otherwise ; [(15A) "employees stock option" means the option given to the whole-time directors, officers or employees of a company, which gives such directors, officers or employees the benefit or right to purchase or subscribe at a future date, the securities offered by the company at a pre-determined price;] (16) "existing company" means an existing company as defined in (section 3); (17) "financial year" means, in relation to any body corporate, the period in respect of which.....

Finance Act, 2000 Complete Act

State: Central

Year: 2000

.....Be it enacted by Parliament in the Fifty-first Year of the Republic of India as follows :- SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called the Finance Act, 2000. (2) Save as otherwise provided in this Act, Sections 2 to 77 shall be deemed to have come into force on the 1st day of April, 2000. 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, 2000, 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 under Chapter VIII-A 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 manner provided therein. (2) In the cases to which Paragraph A of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income exceeding six hundred rupees, in.....