Bare Act Search Results

The Punjab Restitution of Mortgaged Lands Act, 1938 Complete Act

State: Punjab

Year: 1938

.....RESTITUTION OF MORTGAGED LANDS ACT, 1938 Amended by Punjab Act I of 1943 Amended by the Indian Independence (Adaptation of Bengal and Punjab Acts) order, 1948 (G.G.O.40) Amended by Adaptation of Laws Order, 1950 Extended to Pepsu Territory Amended by Punjab Act 18 of 1958 An Act to provide for the restitution of lands on which a mortgage subsists, which was effected prior to 8th June, 1901. WHEREAS it is expedient to provide for the restitution of certain mortgaged lands in the manner hereinafter appearing, it is enacted as follows:- Short title, extent and commencement : 1. (1) This Act shall be called the Punjab Restitution of Mortgaged Lands Act, 1938. (2) It shall apply to Punjab. (3) It shall come into force on such date as the [State] Government may by notification direct. Application of the Act to subsisting mortgage effected prior to 8th June, 1901. 2. Notwithstanding anything contained in any enactment for the time being in force, this Act shall apply to any subsisting mortgages of land, which were effected prior to 8th June, 1901. [in the territories which immediately before the 1st November, 1956, were comprised in the State of Punjab,.....

Finance Act 2008 Chapter III

Title: Direct Taxes

State: Central

Year: 2008

.....may be prescribed, having regard to the nature and extent of banking facilities available, considerations of business expediency and other relevant factors.. Section 12 - Amendment of section 43 In section 43 of the Income-tax Act, in clause (6), after Explanation 5, the following Explanation shall be inserted and shall be deemed to have been inserted, with effect from the 1st day of April, 2003, namely:-- Explanation 6.--Where an assessee was not required to compute his total income for the purposes of this Act for any previous year or years preceding the previous year relevant to the assessment year under consideration,-- (a) the actual cost of an asset shall be adjusted by the amount attributable to the revaluation of such asset, if any, in the books of account; (b) the total amount of depreciation on such asset, provided in the books of account of the assessee in respect of such previous year or years preceding the previous year relevant to the assessment year under consideration shall be deemed to be the depreciation actually allowed under this Act for the purposes of this clause; and (c) the depreciation actually allowed under clause (b) shall be adjusted by.....

Income Tax Act, 1961 Chapter III

Title: Incomes Which Do Not Form Part of Total Income

State: Central

Year: 1961

.....1] : For the purposes of this sub-clause, the expression industrial undertaking means any undertaking which is engaged in (a) the manufacture or processing of goods; or 53[(aa) the manufacture of computer software or recording of programme on any disc, tape, perforated media or other information device; or] (b) the business of generation or distribution of electricity or any other form of power; or 54[(ba) the business of providing telecommunication services; or] (c) mining; or (d) the construction of ships; or 55[(da) the business of ship-breaking; or] (e) the operation of ships or aircrafts or construction or operation of rail systems; 56[Explanation 1A : For the purposes of this sub-clause, the expression interest shall not include interest paid on delayed payment of loan or on default if it is in excess of two per cent per annum over the rate of interest payable in terms of such loan.] 57[Explanation 2 : For the purposes of this clause, the expression interest includes hedging transaction charges on account of currency fluctuation;] (v) interest on (a) securities held by the Welfare Commissioner, Bhopal Gas Victims, Bhopal, in the Reserve.....

Transfer of Property Act, 1882 Chapter IV

Title: Of Mortgages of Immovable Property and Charges

State: Central

Year: 1882

.....of the receiverwas valid or not. (6) The receiver shall be entitledto retain out of any money received by him, for his remuneration, and insatisfaction of all costs, charges and expenses incurred by him as receiver, acommission at such rate not exceeding five per cent, on the gross amount of allmoney received as is specified in his appointment, and, if no rate is sospecified, then at the rate of five per cent. on that gross amount, or at suchother rate as the Court thinks fit to allow, on application made by him for thatpurpose. (7) The receiver shall, if sodirected in writing by the mortgagee, insure to the extent, if any, to which themortgagee might have insured, and keep insured against loss or damage by fire,out of the money received by him, the mortgaged property or any part thereofbeing of an insurable nature. (8) Subject to the provisions ofthis Act as to the application of insurance money, the receiver shall apply allmoney received by him as follows, namely. - (i) in discharge of all rents,taxes, land revenue., rates and outgoings whatever affecting the mortgagedproperty; (ii) in keeping down all annualsums or other payments, and the interest on all principal.....

The Orissa Cooperative Land Mortgage Bank Act, 1938 Complete Act

State: Orissa

Year: 1938

.....be served under this Act. Officers of banks and sale officers not to bid at sales. 37. At any sale of movable or immovable property held under this Act in order to recover any money due to the Provincial Mortgage Bank, no Director, Secretary or other officer of such bank or its branch bank (except on behalf of the bank of which he is a Director or Secretary or an officer) and no sale officer or other person having any duty to perform in connection with such sale, shall either directly or indirectly, bid for or acquire or attempt to acquire any interest in such property. Delegation of Powers by managing committee. 38. The managing committee may, if it thinks fit, delegate all or any of its powers under this Act to an executive committee constituted by it consisting of two or more of its members of whom one shall be the Registrar or his nominee, not below the rank of Assistant Registrar. Managing Committee's power of making regulations. Bihar and Orissa Act VI of 1935. Madras Act VI of 1932. 39. Notwithstanding anything contained in the Bihar and Orissa Cooperative Societies Act, 1935, or the Madras Co-operative Societies Act, 1932, of the rules made thereunder, the managing.....

Code of Civil Procedure, 1908 Rule 1 to 15

Title: Suits Relating to Mortgages of Immovable Property

State: Central

Year: 1908

..... 14. Suit for sale necessary for bringing mortgaged property to sale (1) Where a mortgagee has obtained a decree for the payment of money in satisfaction of a claim arising under the mortgage, he shall not be entitled to bring the mortgaged property to sale otherwise than by instituting a suit for sale in enforcement of the mortgage, and he may institute such suit notwithstanding anything contained in Order II, rule 2. (2) Nothing in sub-rule (1) shall apply to any territories to which the Transfer of Property Act, 1882 (4 of 1882), has not been extended. 17[15. Mortgages by the deposit of title-deeds and charges 18[(1)] All the provisions contained in this Order which apply to a simple mortgage shall, so far as may be, apply to a mortgage by deposit of title-deeds within the meaning of section 58, and to a charge within the meaning of section 100 of the Transfer of Property Act, 1882 (4 of 1882).] 12a[(2) Where a decree orders payment of money and charges it on immovable property on default of payment, the amount may be realised by sale of that property in execution of that decree.] ______________________ 1. Substituted by Act 21 of 1929, section 4, for rule 2......

Income Tax Act, 1961 Section 10

Title: Incomes Not Included in Total Income

State: Central

Year: 1961

.....1] : For the purposes of this sub-clause, the expression industrial undertaking means any undertaking which is engaged in (a) the manufacture or processing of goods; or 53[(aa) the manufacture of computer software or recording of programme on any disc, tape, perforated media or other information device; or] (b) the business of generation or distribution of electricity or any other form of power; or 54[(ba) the business of providing telecommunication services; or] (c) mining; or (d) the construction of ships; or 55[(da) the business of ship-breaking; or] (e) the operation of ships or aircrafts or construction or operation of rail systems; 56[Explanation 1A : For the purposes of this sub-clause, the expression interest shall not include interest paid on delayed payment of loan or on default if it is in excess of two per cent per annum over the rate of interest payable in terms of such loan.] 57[Explanation 2 : For the purposes of this clause, the expression interest includes hedging transaction charges on account of currency fluctuation;] (v) interest on (a) securities held by the Welfare Commissioner, Bhopal Gas Victims, Bhopal, in the Reserve.....

Income Tax Act, 1961 Section 47

Title: Transactions Not Regarded as Transfer

State: Central

Year: 1961

.....in the company by a shareholder as a result of conversion of the company into a limited liability partnership in accordance with the provisions of section 56 or section 57 of the Limited Liability Partnership Act, 2008 :(6 of 2009) Provided that-- (a) all the assets and liabilities of the company immediately before the conversion become the assets and liabilities of the limited liability partnership; (b) all the shareholders of the company immediately before the conversion become the partners of the limited liability partnership and their capital contribution and profit sharing ratio in the limited liability partnership are in the same proportion as their shareholding in the company on the date of conversion; (c) the shareholders of the company do not receive any consideration or benefit, directly or indirectly, in any form or manner, other than by way of share in profit and capital contribution in the limited liability partnership; (d) the aggregate of the profit sharing ratio of the shareholders of the company in the limited liability partnership shall not be less than fifty per cent. at any time during the period of five years from the date of conversion; (e) the.....

Finance Act 2008 Section 4

Title: Amendment of Section 10

State: Central

Year: 2008

.....the following clause shall be inserted with effect from the 1st day of April, 2009 namely: (26AAB) any income of an agricultural produce market committee or board constituted under any law for the time being in force for the purpose of regulating the marketing of agricultural produce;; (c) in clause (29A), after sub-clause (g), the following sub-clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2002, namely:. (h) the Coir Board established under section 4 of the Coir Industry Act, 1953(45 of 1953);; (d) after clause (42), the following clause shall be inserted, namely:-- (43) any amount received by an individual as a loan, either in lump sum or in instalment, in a transaction of reverse mortgage referred to in clause (xvi) of section 47..

Finance Act 2008 Section 14

Title: Amendment of Section 47

State: Central

Year: 2008

In section 47 of the Income-tax Act,-- (a) after clause (x), the following clause shall be inserted, namely:-- (xa) any transfer by way of conversion of bonds referred to in clause (a) of sub-section (1) of section 115AC into shares or debentures of any company;; (b) after clause (xv), the following clause shall be inserted, namely:-- (xvi) any transfer of a capital asset in a transaction of reverse mortgage under a scheme made and notified by the Central Government..