Bare Act Search Results

Finance Act, 2003 Chapter II

Title: Rates of Income-tax

State: Central

Year: 2003

.....in respect of the total income. (3) In cases to which the provisions of Chapter XII or Chapter XII-A or section 115 JB or sub-section (1A) of section 161 or section 164 or section 164A or section 167B of the Income-tax Act apply, the tax chargeable shall be determined as provided in that Chapter or that section, and with reference to the rates imposed by sub-section (1) or the rates as specified in that Chapter or section, as the case may be: Provided that the amount of income-tax computed in accordance with the provisions of section 112 shall be increased by a surcharge for purposes of the Union as provided in Paragraph A, B, C, D or E, as the case may be, of Part I of the First Schedule: Provided further that the amount of income-tax computed in accordance with the provisions of section 113 shall be increased by a surcharge for purposes of the Union as provided in Paragraph A, B, C, D or E, as the case may be, of Part III of the First Schedule of the Finance Act of the year in which the search is initiated under section 132 or requisition is made under section 132A of the Income-tax Act: Provided also that in respect of any income chargeable to tax under sections.....

Karnataka Value Added Tax Act, 2003 Section 4

Title: Liability to Tax and Rates Thereof

State: Karnataka

Year: 2003

.....of other goods] and (iii) Fourth Schedule, at the rate of twenty per cent. 6[(b) in respect of,- (i) cigarettes, cigars, gutkha and other manufactured tobacco at the rate of fifteen per cent; (ii) other goods at the rate of thirteen and one half per cent] 2[(c) in respect of transfer of property in goods (whether as goods or in some other form) involved in the execution of works contract specified in column (2) of the Sixth Schedule, subject to sections 14 and 15 of the Central Sales Tax Act, 1956(Central Act 74 of 1956), at the rates specified in the corresponding entries in column (3) of the said Schedule.]2 (2) Where goods sold or purchased are contained in containers or are packed in any packing material liable to tax under this Act, the rate of tax applicable to taxable turnover of such containers or packing materials shall, whether the price of the containers or packing materials is charged for separately or not, be the same as the rate of tax applicable to such goods so contained or packed, and where such goods sold or purchased are exempt from tax under this Act, the containers or packing materials shall also be exempt. (3) The State Government may, by.....

Value Added Tax Act, 2003 Section 4

Title: Liability to Tax and Rates Thereof

State: Karnataka

Year: 2003

(1) Every dealer who is or is required to be registered as specified in Sections 22 and 24, shall be liable to pay tax, on his taxable turnover, (a) in respect of goods mentioned in,- (i) Second Schedule, at the rate of one per cent, (ii) Third Schedule, at the rate of four per cent, and (iii) Fourth Schedule, at the rate of twenty per cent. (b) in respect of other goods, at the rate of twenty five per cent. (2) Where goods sold or purchased are contained in containers or are packed in any packing material liable to tax under this Act, the rate of tax applicable to taxable turnover of such containers or packing materials shall, whether the price of the containers or packing materials is charged for separately or not, be the same as the rate of tax applicable to such goods so contained or packed, and where such goods sold or purchased are exempt from tax under this Act, the containers or packing materials shall also be exempt. (3) The State Government may, by notification, reduce the tax payable under sub-section (1) in respect of any goods.

Value Added Tax Act, 2003 Section 37

Title: Rate of Interest

State: Karnataka

Year: 2003

(1) The rate of simple interest payable under Section 36 shall be two per cent per month: (a) from the date the tax had become payable to the date of its payment or to the date of any assessment under this Act, whichever is earlier; and (b) from the date on which any amount payable under this Act was due. (2) For the purpose of this Section interest in respect of parts of a month shall be computed proportionately and month shall mean any period of thirty days.

Karnataka Value Added Tax Act, 2003 Section 37

Title: Rate of Interest

State: Karnataka

Year: 2003

(1) The rate of simple interest payable under Section 36 shall be 1[one and a quarter per cent] per month: (a) from the date the tax had become payable to the date of its payment or to the date of any assessment under this Act, whichever is earlier; and (b) from the date on which any amount payable under this Act was due. (2) For the purpose of this Section interest in respect of parts of a month shall be computed proportionately and month shall mean any period of thirty days. ________________________ 1. Substituted for the words "tw o per cent" by Karnataka Taxation Laws (Amendment) Act ,2005

Maharashtra Medical and Dental Colleges Admissions (Regulation and Abolition of All India Quota) Act, 2003 Complete Act

State: Maharashtra

Year: 2003

.....by the State of Maharashtra to the students on "All India Basis", in private medical colleges in the State; AND WHEREAS having regard to the factual position stated above, the Government of Maharashtra, in the interest of the student community of the State of Maharashtra, the permanent residents, and tax payers -of the state and in the larger interest of the State, and also having regard to the fact that the existing system of "All India quota" has, by and large, not resulted in achieving the purpose for which it was introduced, and that instead of mutuality and reciprocity, the scheme is causing reverse discrimination, resulting in heavy imbalance and prejudicially affecting the interest of the State, considers it expedient to withdraw the M.B.B.S., B.D.S., undergraduate and post-graduate seats from the "All India Scheme (quota)" and provide these seats to the local students of the State; and to the students from the disturbed areas or States and needy States lacking in medical and dental education facilities; AND WHEREAS it is expedient to provide for these matters by an Act of the State Legislature; it is hereby enacted in the fifty-fourth year of the Republic of India.....

Finance Act, 2003 Schedule I

Title: The First Schedule

State: Central

Year: 2003

..... (4) Notwithstanding anything contained in this rule, no loss which has not been determined by the Assessing Officer under the provisions of these rules or the rules contained in Part IV of the First Schedule to the Finance Act, 1995 (22 of 1995), or of the First Scheduled the Finance (No. 2) Act, 1996 (33 of 1996), or of the First Schedule to the Finance Act, 1997 (26 of 1997), or of the First Schedule to the Finance (No. 2) Act, 1998 (21 of 1998), or of the First Schedule to the Finance Act, 1999 (27 of 1999), or of the First Schedule to the Finance Act, 2000 (10 of 2000), or of the First Schedule to the Finance Act, 2001 (14 of 2001), or of the First Schedule to the Finance Act, 2002 (20 of 2002), shall be set off under sub-rule (1) or, as the case may be, sub-rule (2). Rule 9--Where the net result of the computation made in accordance with these rules is a loss, the loss so computed shall be ignored and the net agricultural income shall be deemed to be nil. Rule 10--The provisions of the Income-tax Act relating to procedure for assessment (including the provisions of section 288A relating to rounding off of income) shall, with the necessary modifications, apply m.....

Finance Act, 2003 Complete Act

State: Central

Year: 2003

FINANCE ACT, 2003 FINANCE ACT, 2003 May 14, 2003 An Act to give effect to the financial proposals of the Central Government for the financial year 2003-2004 BE it enacted by Parliament in the Fifty-fourth Year of the Republic of India as follows :- SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called the Finance Act, 2003. (2) Save as otherwise provided in this Act, sections 2 to 103 [except clause (b) of section 92] shall be deemed to have come into force on the 1st day of April, 2003. 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, 2003, 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 VII-Aof theIncome-lax Act, 1961-(43 of 1961) (hereinafter referred to as the Income tax Act) shall be increased by a surcharge for purposes of the Union calculated in each case in the 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.....

The Assam Value Added Tax Act, 2003 Complete Act

State: Assam

Year: 2003

.....for carrying out the purposes of the Act; (11) "company" and "director" shall have the meanings respectively assigned to them in the Companies Act. 1956; (Central Act 1 of 1958) (12) "contractee" means any person for whom or for whose benefit a works contract is executed; (13) "contractor" means any person who executes a works contract and includes a sub-contractor; (14) "to cultivate personally" with all its grammatical variations and cognate expressions means to carry on any agricultural operation on one's own account,- (i) by one's own labour, or (ii) by the labour of one's family, or (iii) by servants on wages payable in cash or kind (but not in crop share), or by hired labour under one's personal supervision or the personal supervision of any member of one's family. Explanation I.- A widow or a minor, or a person who is subject to any physical or mental disability or is a serving member of the armed forces of the Union, shall be deemed to cultivate land personally if it is cultivated by her or his servants or by hired labour. Explanation II.- In the case of a Hindu Undivided Family, land shall be deemed to be cultivated personally, if it is cultivated by.....

The Chhattisgarh Value Added Sales Tax Act, 2003 Complete Act

State: Chattisgarh

Year: 2003

.....into a new and different article so understood in commercial parlance having a distinct name, character use, but does not include such activity of manufacture as may be notified;. (o) "Place of business" means any place where a dealer purchases or sells any goods or stores goods or keeps documents or accounts of his purchases or sales or both and also includes- (i) the place of business of an agent where a dealer carries on business through an agent; (ii) any place or building whether any business is carried on therein or not, in which the person carrying on the business, keeps any of his books of accounts, documents, stocks or other things, relating to his business; (o) " Prescribed" means prescribed by rules made under this Act; (q) "Purchase price" shall comprise of - (i) the amount payable by a dealer as valuable consideration for the purchase of goods˜ simplicit or; Provided that where goods are purchased together with the packing material or container, then notwithstanding anything contained in this Act, the purchase price of such goods shall be inclusive of the price or cost or value of such packing material or container, whether such.....