Bare Act Search Results

Finance (No. 2) Act, 1998 Complete Act

State: Central

Year: 1998

FINANCE (NO. 2) ACT, 1998 FINANCE (NO. 2) ACT, 1998 21 of 1998 An Act to give effect to the financial proposals of the Central Government for the financial year 1998-99 BE it enacted by Parliament in the Forty-ninth Year of the Republic of India as follows :- SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called the Finance (No. 2) Act, 1998. (2) Save as otherwise provided in this Act, sections 2 to 98 (except section 51) shall be deemed to have come into force on the 1st day of April, 1998. 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, 1998, income-tax shall be charged at the rates specified in Part I of the First Schedule. (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 addition to total income, and the total income exceeds forty thousand rupees, then,- (a) the net agricultural income shall be taken into account, in the manner provided in clause (b) [that is to say, as if the net agricultural income were comprised in.....

Finance (No. 2) Act, 1998 Chapter VI

Title: Service Tax

State: Central

Year: 1998

.....whether movable or immovable, or of any person, in any manner and includes the services of investigation, detection or verification, of any fact or activity, whether of a personal nature or otherwise, including the services of providing security personnel; (41) "service tax" means tax leviable under the provisions of this chapter; (42) "ship" means a sea-going vessel and includes a sailing vessel; (43) "shipping line" means any person who owns or charters a ship and includes an enterprise which operates or manages the business of shipping; (44) "steamer agent" means any person who undertakes, either directly or indirectly:-- (a) to perform any service in connection with the ship's husbandry or dispatch including the rendering of administrative work related thereto; or (b) to book, advertise or canvas for cargo for or on behalf of a shipping line; or (c) to provide container feeder services for or on behalf of a shipping line; (45) "stock-broker" means a stock-broker who has either made an application for registration or is registered as a stock-broker in accordance with the rules and regulations made under the Securities and Exchange Board of India Act,.....

Finance (No. 2) Act, 1998 Section 116

Title: Amendment of Act 32 of 1994

State: Central

Year: 1998

.....whether movable or immovable, or of any person, in any manner and includes the services of investigation, detection or verification, of any fact or activity, whether of a personal nature or otherwise, including the services of providing security personnel; (41) "service tax" means tax leviable under the provisions of this chapter; (42) "ship" means a sea-going vessel and includes a sailing vessel; (43) "shipping line" means any person who owns or charters a ship and includes an enterprise which operates or manages the business of shipping; (44) "steamer agent" means any person who undertakes, either directly or indirectly:-- (a) to perform any service in connection with the ship's husbandry or dispatch including the rendering of administrative work related thereto; or (b) to book, advertise or canvas for cargo for or on behalf of a shipping line; or (c) to provide container feeder services for or on behalf of a shipping line; (45) "stock-broker" means a stock-broker who has either made an application for registration or is registered as a stock-broker in accordance with the rules and regulations made under the Securities and Exchange Board of India Act,.....

Finance (No. 2) Act, 1998 Chapter V

Title: Indirect Taxes

State: Central

Year: 1998

.....unless the context otherwise requires,-- (a) "Bench" means a Bench of the Settlement Commission; (b) "case" means any proceeding under this Act or any other Act for the levy, assessment and collection of customs duty, or any preceding by way of appeal or revision in connection with such levy, assessment or collection, which may be pending before a proper officer or the Central Government on the date on which an application under sub-section (1) of section 127B is made: Provided that where any appeal or application for revision has been preferred after the expiry of the period specified for the filing of such appeal or application of. revision under this Act and which has not been admitted, such appeal or revision shall be deemed to be a proceeding pending within the meaning of this clause; (c) "Chairman" means the Chairman of the Settlement Commission; (d) "Commissioner (Investigation)" means an officer of the customs or a Central Excise Officer appointed as such Commissioner to conduct inquiry or investigation for the purposes of this Chapter; (e) "Member" means a Member of the Settlement Commission and includes the Chairman and the Vice-Chairman; (f).....

Finance (No. 2) Act, 1998 Section 5

Title: Amendment of Section 10

State: Central

Year: 1998

..... (c) in clause (15) in sub-clause (iv) in the Explanation, after clause (a) the following clause shall be inserted, namely:-- "(aa) the manufacture of computer software or recording of programme on any disc, tape, perforated media or other information device; or (d) clause (18A) shall be omitted; (e) clause (22) and (22A) shall be omitted. (f) in clause (23C),-- (A) after sub-clause (iiia), the following sub-clauses shall be inserted, namely:-- (iiiab) any university or other educational institution existing solely for educational purposes and not for purposes of profit, and which is wholly or substantially financed by the Government; or (iiiac) any hospital or other institution for the reception and treatment of persons suffering from illness or mental defectiveness or for the reception and treatment of persons during convalescence or of persons requiring medical attention or rehabilitation, existing solely for philanthropic purposes and not for purposes of profit, and which is wholly or substantially financed by the Government; or (iiiad) any university or other educational institution existing solely for educational purposes and not for purposes of.....

Mysore Palace (Acquisition and Transfer) Act, 1998 Chapter V

Title: Board of Trustees

State: Karnataka

Year: 1998

.....may, with the previous sanction of the State Government and subject to such conditions as may be prescribed borrow any sum for the purposes of this Act. Section 31 - Utilisation of the Fund The Fund may be utilised for all or any of the following purposes, namely:- (i) maintenance, management and administration of the Palace; (ii) maintenance and improvement of park and garden in the premises of the Palace; (iii) preservation of tree growth in the premises of the Palace; (iv) development of Museum and Horticultural garden in the Palace premises; (v) payment of salaries and allowances of the Executive Officer and other officers appointed under section 26; (vi) any other purpose as may be prescribed. Section 32 - Audit (1) The State Government shall appoint annually an Auditor to audit the accounts of the Board and fix the remuneration which shall be paid to such Auditor from the Board Fund. The Auditor shall send his report to the State Government. (2) The State Government shall send a copy of the audit report to the Board and it shall be the duty of the Board to remedy, within such time as may be specified by the State Government any defects or.....

Electricity Regulatory Commissions Act, 1998 [Repealed] Section 5

Title: Constitution of Selection Committee to Recommend Members

State: Central

Year: 1998

.....from amongst persons holding the post or Chairman of Managing Director, by whatever name called, of any public financial institution specified in section 4A of the Companies Act, 1956 (1 of 1956). (3) For the purposes of clause (e) of sub-section (1), the Central Government shall nominate from amongst persons holding the post of Director or the head of the institution, by whatever name called, of any research, technical or management institution notified by the Central Government in the Official Gazette for this purpose. (4) Secretary-in-charge of the Ministry of the Central Government dealing with Power shall be the Convenor of the Selection Committee. (5) The Central Government shall, within one month from the date of occurrence of any vacancy by reason of death, resignation or removal of the Chairperson or a Member and six months before the superannuation or end of tenure of any Chairperson or Member, make a reference to the Selection Committee for filling up of the vacancy. (6) The Selection Committee shall finalise the selection of the Chairperson and Members within one month from the date on which the reference is made to it. (7) The Selection Committee shall.....

Electricity Regulatory Commissions Act, 1998 [Repealed] Chapter 5

Title: Powers and Functions of State Commission

State: Central

Year: 1998

.....the following modifications, namely:-- (a) references to "Central Commission" shall be construed as references to "State Commission"; (b) in sub-section (3) of section 9, the brackets and words "(including the Member ex officio)" shall be omitted. Section 24 - State Advisory Committee (1) The State Commission may, by notification, establish with effect from such date as it may specify in such notification, a Committee to be known as the State Advisory Committee. (2) The State Advisory Committee shall consist of not more than twenty-one members to represent the interests of commerce, industry, transport, agriculture, labour, consumers, non-governmental organisations and academic and research bodies in the energy sector. (3) The Chairperson and the Members of the State Commission shall be ex officio Chairperson and ex officio Members of the State Advisory Committee. Section 25 - Objects of State Advisory Committee The objects of the State Advisory Committee shall be to advise the Commission on-- (i) major questions of policy; (ii) matters relating to quality, continuity and extent of service provided by the licensees; (iii) compliance by licensees with the.....

Mysore Palace (Acquisition and Transfer) Act, 1998 Section 5

Title: General Effect of Vesting

State: Karnataka

Year: 1998

.....shall have the right to prefer his claim in the prescribed manner before the Commissioner for payment of amount out of the amount, specified under section 8. (4) Every mortgagee of any property which has vested under this Act in the State Government and every person holding any charge, lease, lien or other interest in or in relation to, any such property shall give, within such time and in such manner as may be prescribed, an intimation to the Commissioner of such mortgage, lease, charge, lien or other interest. (5) For the removal of doubts, it is hereby declared that the mortgagee of any property referred to in sub-section (4) or other person holding any charge, lease, lien or other interest in or in relation, to any such property shall be entitled to claim in accordance with his rights or interest, payment of the mortgage money or other dues in whole or in part out of the amount specified in section 8, but no such mortgage, lease, charge, lien or other interest shall be enforceable against any property which has vested in the State Government. (6) If, on the appointed day, any suit, appeal or other proceeding of whatever nature, in relation to any property which has.....

Leaders and Chief Whips of Recognised Parties and Groups in Parliament (Facilities) Act, 1998 Section 5

Title: Amendment of Section 3 of Act 10 of 1959

State: Central

Year: 1998

In the Parliament (Prevention of Disqualification) Act, 1959, in Section 3, (i) after clause (ab), the following clause shall be inserted, namely :- "(ac) the office of each leader of a recognised party and a recognised group in either House of Parliament;"; (ii) after Explanation 2, the following Explanation shall be inserted, namely :- "Explanation 3. -In clause (ac), the expressions "recognised party" and "recognised group" shall have the meanings assigned to them in the Leaders and Chief Whips of Recognised Parties and Groups in Parliament (Facilities) Act, 1998".