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Companies Profits Surtax Act 1964 Section 5

Title: Return of Chargeable Profits

State: Central

Year: 1964

.....the company during the previous year in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed : Provided that on an application made in this behalf, the1[Assessing Officer] may, in his discretion, extend the date for the furnishing of the return. (3) Any assessee who has not furnished a return during the time allowed under sub-sectior (1) or sub-section (2), or having furnished a return under sub-section (1) or sub-section (2), discovers any omission or wrong statement therein, may furnish a return or a revised return, as the case may be, at any time before the assessment is made. ________________________ 1. Substituted for the words "Income-tax Officer" and consequential changes as the rules of grammar may require by the Direct Tax Laws (Amdt.) Act (4 of 1988), S. 187 (1-4-1988).

Companies Profits Surtax Act 1964 Preamble 1

Title: Companies (Profits) Surtax Act, 1964

State: Central

Year: 1964

THE COMPANIES (PROFITS) SURTAX ACT, 1964 [Act, No. 7 of 1964] [2nd May, 1964] PREAMBLE An Act to impose a special tax on the profits of certain companies. BE it enacted by Parliament in the Fifteenth year of the Republic of India as follows;--

Companies Profits Surtax Act 1964 Section 8

Title: Profits Escaping Assessment

State: Central

Year: 1964

.....omission or failure on the part of the assessee to make a return under section 5 for any assessment year or to disclose fully and truly all material facts necessary for his assessment for any assessment year, chargeable profits for that year have escaped assessment or have been underassessed or assessed at too low a rate or have been made the subject of exercise relief under this Act, or (b) notwithstanding that there has been no omission or failure as mentioned in clause (a) on the part of the assessee, the1[Assessing Officer] has in consequence of information in his possession reason to belive that chargeable profits assessable for any assessment year have escaped assessment or have been under-assessed or assessed at too low a rate or have been the subject of excessive relief under this Act, he may, in cases falling under clause (a) at any time, and in cases failing under clause (b) at any time within four years of the end of that assessment year, serve on the assessee a notice containing all or any of the requirements which may be included in a notice under section 5, and may proceed to assess or re-assess the amount chargeable to surtax, and the provisions of this Act.....

Business Profits Tax Act, 1947 Complete Act

State: Central

Year: 1947

.....1949, are extended to. and shall be in force in, all the merged States. For the definition of the expression "merged States", see S. 2(1) of that Act. This Act and all rules and orders made there under shall operate as if they had been extended to, and brought into force in, all the merged States on the Ist day of April. 1949 - SetS. 3 of the Taxation Laws (Extension to Merged States and Amendment) Act, 1949 (67 of 1949), For the interpretation of laws as extended to the merged Slates, for the removal of difficulties in giving effect to the provisions of any Act, etc., extended to the merged States and for repeal of corresponding laws in force in any of the merged States and savings in consequence of such repeal, see sections 4, 6 and Section 7, respectively, of Act 67 of 1949. SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called The Business Profits Tax Act, 1947. (2) It extends to the whole of1[India except2[the territories which, immediately before the 1st November, 1956, were comprised in Part B States].] (3) It shall come into force on such date3as the Central Government may, by notification in the official Gazette, appoint. SECTION 02:.....

Super Profits Tax Rules, 1963 Complete Act

State: Central

Year: 1963

....." sub-sections (1) and (2) " shall be substituted. Modification of section 138.---(vii) In section 138,--- (a) for the words " either under this Act or the Indian Income-tax Act, 1922, on or after the 1st day of April, 1960", the words " under the Act " shall be substituted ; (b) for the word and figures "section 137", the words and figures " the applied section 137 " shall be substituted. Modification of section 140.---(viii) For section 140, the following section shall be substituted, namely:--- "140. Return by whom to be signed.---The return under section 6 of the Act shall be signed and verified by the principal officer of the company, or where in the case of a non-resident company any person has been treated as its agent under section 163 of the Income-tax Act, by such person. " Modification of section 160.---(ix) In section 160, in sub-section (1),--- (a) in clause (i),--- (i) for the words, brackets and figures " in respect of the income of a non-resident specified in clause (i) of sub-section (1) of section 9 ", the words, brackets and figures " in respect of the chargeable profits relating to the income of a non-resident specified in clause (i) of sub-section.....

Companies (Profits) Surtax Act, 1964 Complete Act

State: Central

Year: 1964

.....of India, 29-2-1964, Pt. II, S. 2, Ext., p. 178. Act 41 of 1975.- The object of this Bill is to amend the income-tax Act, 1961, the Wealth Tax Act. 1957, the Gift Tax Act, 1958 and the Companies (Profits) Surtax Act, 1964. The proposals relating to the amendments to these enactments have been formulated after a detailed examination of the recommendations of the Direct Taxes Enquiry Committee (Wanchoo Committee) and the Forty-seventh Report of the Law Commission on the Trial and Punishment of Social and Economic Offences, the latter in so far as they relate to direct taxes. Opportunity has been taken to sponsor some amendments on the basis of suggestions received from various other quarters as well. Technical difficulties arising in the operation of some of the provisions of these enactments have also been taken into account in formulating these proposals. 2. The main objective of the amendments proposed to be made are to unearth black-money and prevent its proliferation; to fight and curb tax evasion; to check avoidance of tax 'through various legal devices, including the formation of trusts and diversion of income or wealth to members of family; to reduce tax arrears and.....

Super Profits Tax Act, 1963 Complete Act

State: Central

Year: 1963

.....are no chargeable profits in respect of the previous year relevant to that assessment year, the amount of the standard deduction ; (7) " Income-tax Act" means the Income-tax Act, 1961 (43 of 1961)-; (8) " prescribed" means prescribed by rules made under this Act; (9) " standard deduction " means an amount equal to six percent of the capital of the company as computed in accordance with the provisions of the Second Schedule, or an amount of fifty thousand rupees, whichever is greater: Provided that where the previous year is longer or shorter than a period of twelve months, the aforesaid amount of six per cent. or, as the case may be, of fifty thousand rupees shall be increased or decreased proportionately: Provided further that where a company has different previous years in respect of its income, profits and gains, the aforesaid increase or decrease, as the case may be, shall be calculated with reference to the length of the previous year of the longest duration; and (10) all other words and expressions used herein but not defined and defined in the Income-tax Act shall have the meanings respectively assigned to them in that Act. SECTION 03: TAX AUTHORITIES (1) Every.....

Companies Profits Surtax Act 1964 Schedule I

Title: First Schedule

State: Central

Year: 1964

.....on the total income allowed under the annual Finance Act in connection with export of any goods or merchandise out of India or the sale by a manufacturer of any articles to any person who exports them out of India. 4 [Explanation.-- Notwithstanding any thing contained in any clause of this rule, the amount of any income or profits and gains which is required to be excluded from the total income under that clause shall be only the amount of such income or profits and gains as computed in accordance with the provisions of the Income-tax Act (except Chapter VIA thereof), and in a case where any deduction is required to be allowed in respect of any such income or profits and gains under the said Chapter VIA, the amount of such income or profits and gains computed as aforesaid as reduced by the amount of such deduction.] 2. The balance of the total income arrived at after making the exclusions mentioned in Rule 1 shall be reduced by-- (i) the amount of income-tax 5 [* *] payable by the company in respect of its total income under the provisions of the Income-tax Act after making allowance for any relief, rebate or deduction in respect of income-tax 5 [* *] to which the.....

The Orissa Offices of Profit (Removal of Disqualifications) Act, 1961 Complete Act

State: Orissa

Year: 1961

.....Legis lative Assembly, namely:" (a) any office held by a Minister (Inserted by Orissa Offices of Profit Removal of Disqualifica tions) (Amendment) Act, 1974 (Or. Act 3 of 1974), S. 2.) [Minister of State] or Deputy Minister for the Union or for any State, whether ex officio or by name; (b) the office of the Speaker or the Deputy Speaker of the Orissa Legislative Assembly or of Parliament and Legislative Assembly of any other State; (c) the office of the Chief Whip, Deputy Chief Whip or Whip in any Legislative Assembly or in Parliament or the Office of a Parliamentary Secretary; (d) the office of a member of any force raised or maintained under the National Cadet Corps Act, 1948, the Territorial Army Act, 1948, or the Reserve and Auxiliary Air Forces Act, 1952; (e) the office of a member of a Home Guard constituted under any law for the time being in force in any State; (f) the office of Chairman or member of the Syndicate, Senate, executive committee, council or court of a University or any other body connected with a University; (g) the office of a member of any delegation or mission sent outside India by the Govern ment of India or of any State or sent outside-the.....

Companies Profits Surtax Act 1964 Section 24A

Title: Agreement with Foreign Countries

State: Central

Year: 1964

1[24A. Agreement with foreign countries.-- The Central Government may enter into an agreement with the Government of any country outside India1-- (a) for the granting of relief in respect of chargeable profits on which have been paid both surtax under this Act and tax of a similar character or income-tax on such profits in that country, or (b) for the avoidance of double taxation of chargeable profits under this Act and under any law relating to the taxation of income or profits in force in that country, or (c) for exchange of information for the prevention of evasion or avoidance of surtax chargeable under this Act or the tax chargeable under the corresponding law in force in that country or investigation of cases of such evasion or avoidance, or (d) for recovery of tax under this Act and under any law relating to the taxation of income or profits in force in that country, and may, by notification in the Official Gaazette, make such provision as may be necessary for implementing the agreement.] ________________________ 1. Substituted by the Finance Act, 1972 (16 of 1972), S. 57 (1-4-1972).