Bare Act Search Results

Finance Act 2008 Chapter III

Title: Direct Taxes

State: Central

Year: 2008

.....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 the amount of depreciation attributable to such revaluation of the asset.". Section 13 - Amendment of section 44AB In section 44AB of the Income -tax Act, in the Explanation, in clause (if), for the figures, letters and words "31st day of October", the figures, letters and words "30th day of September" shall be substituted. Section 14 - Amendment of section 47 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.. Section 15 - Amendment of section 49 In.....

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 Section 10

Title: Incomes Not Included in 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 Section 47

Title: Transactions Not Regarded as Transfer

State: Central

Year: 1961

.....in a scheme of amalgamation of a banking company with a banking institution sanctioned and brought into force by the Central Government under sub-section (7) of section 45 of the Banking Regulation Act, 1949 (10 of 1949), of a capital asset by the banking company to the banking institution. Explanation: For the purposes of this clause,-- (i) banking company shall have the same meaning assigned to it in clause (c) of section 5 of the Banking Regulation Act, 1949; (ii) banking institution shall have the same meaning assigned to it in sub-section (15) of section 45 of the Banking Regulation Act, 1949 (10 of 1949);] 4[(vib) any transfer, in a demerger, of a capital asset by the demerged company to the resulting company, if the resulting company is an Indian company;] 4[(vic) any transfer in a demerger, of a capital asset, being a share or shares held in an Indian company, by the demerged foreign company to the resulting foreign company, if - (a) 5[the shareholders holding not less than three-fourths in value of the shares] of the demerged foreign company continue to remain shareholders of the resulting foreign company; and (b) such transfer does not attract tax on.....

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..

Estate Duty Act, 1953 Complete Act

State: Central

Year: 1953

.....in the Wealth-tax Act and the rules made thereunder. 4. Another amendment seeks to make a provision similar to that contained in Income-tax Act, 1961 and Wealth-tax Act, 1957, to secure that where the deceased was a member of a co-operative housing Society the value of one house or part thereof allotted or leased to him under a house-building scheme of the society would be treated as a house owned by the deceased, thus qualifying for the concessional treatment accorded to residential house property. 5. The other amendments proposed in the Bill are of a consequential nature. 6. The amendments are being made with retrospective effect from the 1st day of March, 1981 and accordingly the proposed concessions will also be available in relation to estate duty in the case of persons who have died after the 28th February, 1981. 7. The Bill seeks to achieve the above objects. -Gaz. of Ind., 13-7-82, Pt. II, S. 2,Ext" p. 8 (No. 28) Act 53 of 1984 This Bill seeks to amend the Estate Duty Act, 1953, mainly with a view to excluding agricultural lands from the levy of estate duty. 2. One of the amendments proposed accordingly seeks to provide that the Act shall cease to apply to the.....

Lunacy Act, 1912 Complete Act

State: Central

Year: 1912

.....CASE OF A EUROPEAN LUNATIC SOLDIER, SAILOR OR AIRMAN. When any European who is subject to the provisions of the 21Army Act,22[the Naval Discipline Act or that Act as modified by the Indian Navy (Discipline) Act, 1934],23[the Air Force Act or the5Indian Air Force Act, 1932] has been declared a lunatic in accordance with the provisions of the military,22[naval]24[or air force] regulations in force for the time being, and it appears to any administrative medical officer that he should be removed to an asylum, such administrative medical officer may, if he thinks fit, make a reception order under his hand for the admission of the said lunatic into any asylum which has been duly authorised20for the purpose by the Central Government. SECTION 13: POWER AND DUTIES OF POLICE IN RESPECT OF WANDERING OR DANGEROUS LUNATICS AND LUNATICS CRUELLY TREATED OF NOT UNDER PROPER CARE AND CONTROL (1) Every officer in charge of a police-station may arrest or cause to be arrested all persons found wandering at large within the limits of his station whom he has reason to believe to be lunatics, and shall arrest or cause to be arrested all persons within the limits of his station whom he has reason to.....

Estate Duty Act, 1953 [Repealed] Section 2

Title: Definitions

State: Central

Year: 1953

.....power to determine the disposition of property of which the person invested with the power is not the owner; (14) "prescribed" means prescribed by rules made under this Act. (15) "property" includes any interest in property, movable or immovable the proceeds of sale thereof and any money or investment for the time being representing the proceeds of sale and also includes any property converted from one species into another by any method; Explanation1.- The creation by a person or with his consent of a debt or other right enforceable against him personally or against property which he was or might become competent to dispose of or to charge or burden for his own benefit, shall be deemed to have been a disposition made by that person, and in relation to such a disposition the expression " property" shall include the debt or right created. Explanation 2.- The extinguishment at the expense of the deceased of a debt or other right shall be deemed to have been a disposition made by the deceased in favour of the person for whose benefit the debt or right was extinguished, and in relation to such a disposition the expression "property" shall include the benefit conferred by th.....

The Punjab Restitution of Mortgaged Lands Act, 1938 Complete Act

State: Punjab

Year: 1938

THE PUNJAB RESTITUTION OF MORTGAGED LANDS ACT, 1938 THE PUNJAB RESTITUTION OF MORTGAGED LANDS ACT, 1938 PUNJAB ACT NO. 4 OF 1938 CONTENTS Section Subject 1. Short title, extent and commencement 2. Application of the Act to subsisting mortgage effected prior to 8th June, 1901 3. Definitions 4. Petition for restitution 5. Procedure for dealing with petitions for restitution 6. Petition when to be dismissed. 7. Power of the Collector to declare and enforce orders in favour of mortgagor and to grant compensation to mortgagee in certain case. 8. Effect of order of restitution, when compensation is payable. 9. Power of the Collector to eject mortgagee. 10. Appeals 10A Revision 11. Limitation of appeal. 12. Jurisdiction of Civil Courts barred. 13. Rule-making power. THE PUNJAB RESTITUTION OF MORTGAGED LANDS ACT, 1938 PUNJAB ACT NO. 4 OF 1938 [Received the assent of His Excellency the Governor on the Ist September 1938, and was first published in the PUNJAB GAZETTE.....