Bare Act Search Results

Finance Act 2001 Section 139

Title: Amendment of Section 14 of Act 74 of 1956

State: Central

Year: 2001

In the Central Sales Tax Act, 1956, in section 14,- (a) after clause (iic), the following clause shall be inserted, namely:- '(iid) Aviation Turbine Fuel sold to a Turbo-Prop Aircraft. Explanation-For the purposes of this clause, "Turbo-Prop Aircraft" means an aircraft deriving thrust, mainly from propeller, which may be driven by either turbine engine or piston engine;'; (b) in clause (iv), in sub-clause (i), for the words "pig iron and", the words "pig iron, sponge iron and" shall be substituted.

Finance Act 2001 Section 59

Title: Amendment of Section 139

State: Central

Year: 2001

In section 139 of the Income-tax Act, for sub-section (1), the following sub-section shall be substituted, namely:- '(1) Every person,- (a) being a company; or (b) being a person other than a company, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax, shall, on or before the due date, furnish a return of his income or the income of such other person 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 a person referred to in clause (b), who is not required to furnish a return under this sub-section and residing in such area as may be specified by the Board in this behalf by notification in the Official Gazette, and who at any time during the previous year fulfils anyone of the following conditions, namely :- (i) is in occupation of an immovable property exceeding a specified floor area, whether by way of ownership, tenancy or otherwise, as may be specified by the Board in this behalf; or (ii) is the owner.....

Finance Act, 2001 Complete Act

State: Central

Year: 2001

FINANCE ACT, 2001 FINANCE ACT, 2001 14 of 2001 An Act to give effect to the financial proposals of the Central Government for the financial year 2001-2002 BE it enacted by Parliament in the Fifty-second Year of the Repub of India as follows :" SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called theFinance Act, 2001-. (2) Save as otherwise provided in this Act,section 2-toSection 101-shall be deemed to have come into force on the 1st day of April, 2001. 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, 2001, 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 8A of the Income-tax Act, 1961-(43 of 1961) (hereinafter referred to as the Income-tax Act) shall be increased," (a) in the cases to which Paragraphs A, B, C and D of that Part apply, by a surcharge for purposes of the Union; and (b) in the cases to which Paragraph E of that Part applies, by a surcharge, calculated in each case in the manner provided therein. (2) In the cases to which Paragraph A of.....

Finance Act 2001 Chapter 3

Title: Direct Taxes

State: Central

Year: 2001

.....consists of a house or part of a house which - (a) is in the occupation of the owner for the 'purposes of his own residence; or (b) cannot actually be occupied by the owner by reason of the fact that owing to his employment, business or profession carried on at any other place, he has to reside at that other place in a building not belonging to him. the annual value of such house or part of the house shall be taken to be nil. (3) The provisions of sub-section (2) shall not apply if- (a) the house or part of the house is actually let during the whole or any part of the previous year; or (b) any other benefit there from is derived by the owner. (4) Where the property referred to in sub-section (2) consists of more than one house (a) the provisions of that sub-section shall apply only in respect of one of such houses, which the assessee may, at his option, specify in this behalf ; (b) the annual value of the house or houses, other than the house in respect of which the assessee has exercised an option under clause (a), shall be determined under sub-section (1) as if such house or houses had been let.". Section 15 - Substitution of new section for section 24.....

Finance Act 2001 Chapter VI

Title: Miscellaneous

State: Central

Year: 2001

.....hundred grams : Rs.16.00 For every five hundred grams, or fraction thereof, exceeding five hundred grams : Rs.15.00 Section 139 - Amendment of section 14 of Act 74 of 1956 In the Central Sales Tax Act, 1956, in section 14,- (a) after clause (iic), the following clause shall be inserted, namely:- '(iid) Aviation Turbine Fuel sold to a Turbo-Prop Aircraft. Explanation-For the purposes of this clause, "Turbo-Prop Aircraft" means an aircraft deriving thrust, mainly from propeller, which may be driven by either turbine engine or piston engine;'; (b) in clause (iv), in sub-clause (i), for the words "pig iron and", the words "pig iron, sponge iron and" shall be substituted. Section 140 - Omission of section 55 of Act 61 of 1981 Section 55 of the National Bank for Agriculture and Rural Development Act, 1981 shall be omitted with effect from the 1st day of April, 2002. Section 141 - Omission of section 48 of Act 53 of 1987 Section 48 of the National Housing Bank Act, 1987 shall be omitted with effect from the 1st day of April, 2002. Section 142 - Omission of section 50 of Act 39 of 1989 Section 50 of the Small Industries Development Bank of India Act, 1989.....

Finance Act 2001 Section 10

Title: Amendment of Section 12a

State: Central

Year: 2001

A In section 12A of the Income-tax Act, after clause (b), the following clause shall be inserted with effect from the 1st day of April, 2002, namely :- "(c) where the total income of the trust or institution as computed under this Act without giving effect to the provisions of sections 11 and 12 exceeds ten lakh rupees in any previous year, the trust or institution- (i) publishes its accounts in a local newspaper, before the due date for furnishing the return of income under sub-section (4A) of section 139 ; and (ii) furnishes a copy of such newspaper along with such return.".

Finance Act 2001 Section 52

Title: Substitution of New Section for Section 115ac

State: Central

Year: 2001

.....or Global Depository Receipts referred to in clause (c) of sub-section (1). (4) It shall not be necessary for a non-resident to furnish under sub-section (1) of section 139 a return of his income if- (a) his total income in respect of which he is assessable under this Act during the previous year consisted only of income referred to in clauses (a) and (b) of sub-section (1) ; and (b) the tax deductible at source under the provisions of Chapter XVlI-B has been deducted from such income. (5) Where the assessee acquired Global Depository Receipts or bonds in an amalgamated or resulting company by virtue of his holding Global Depository Receipts or bonds in the amalgamating or demerged company, as the case may be, in accordance with the provisions of sub- section (1), the provisions of that sub-section shall apply to such Global Depository Receipts or bonds. Explanation.-For the purposes of this section,- (a) "approved intermediary" means an intermediary who is approved in accordance with such scheme as may be notified by the Central Government in the Official Gazette ; (b) "Global Depository Receipts" shall have the same meaning as in clause (a) of the Explanation to.....

Finance Act 2001 Complete Act

Title: Finance Act 2001

State: Central

Year: 2001

Preamble1 - FINANCE ACT, 2001 Chapter 1 Section1 - Short Title And Commencement. Chapter 2 Section2 - Income-tax Chapter 3 Section3 - Amendment of section 2 Section4 - Amendment of section 9 Section5 - Amendment of section 10 Section6 - Amendment of section 10A Section7 - Amendment of section 10B Section8 - Insertion of new section 10BB Section9 - Amendment of section 11 Section10 - Amendment of section 12A Section11 - Insertion of new section 14A Section12 - Amendment of section 16 Section13 - Amendment of section 17 Section14 - Substitution of new section for section 23 Section15 - Substitution of new section for section 24 Section16 - Amendment of section 25 Section17 - Amendment of section 25A Section18 - Insertion of new section 25AA Section19 - Amendment of section 25B Section20 - Amendment of section 27 Section21 - Amendment of section 32 Section22 - Amendment of section 33AB Section23 - Amendment of section 35 Section24 - Insertion of new section 35DDA Section25 - Amendment of section 36 Section26 - Amendment of section 43 Section27 - Amendment of section 43B Section28 - Amendment of section 44AB Section29 - Amendment of section 47 Section30 -.....

The Jharkhand Panchayat Raj Act, 2001 Complete Act

State: Jharkhand

Year: 2001

.....of the Patna Municipal Corporation Act, 1951 (Bihar Act XIII of 1952); Bihar & Orissa Municipal Act, 1922 (Bihar Act VII of 1922) or Cantonment Act, 1924 (Act II of 1924) apply. (iii) It shall come into force on such date as the Jharkhand Government may, by notification in the official gazette, appoint and different dates may be appointed for different areas and for different provisions. Section 2 - Definitions In this Act unless there is anything repugnant in the context : (i) "Population" means the population as ascertained at the last preceding census of which the relevant figures have been published; (ii) "Village" means a village specified by the State Government, by notification in the official gazette to be a village for the purposes of this Act, and includes a village or a group of villages/ Tolas so specified. The word "village" includes a revenue village; but in the scheduled area, a 'village' means any such village in The scheduled area in which there will ordinarily be a residence or a group of residences, or a tola or a group of tolas, comprising such community as manages its activities according to its customs and usages; (iii) "Gram Sabha" means a.....

Finance Act 2001 Section 49

Title: Substitution of New Sections for Section 92

State: Central

Year: 2001

.....length price of such benefit, service or facility, as the case may be. 92A. Meaning of associated enterprise.- (1) For the purposes of this section and sections 92, 92B, 92C, 92D, 92E and 92F, "associated enterprise", in relation to another enterprise, means an enterprise- (a) which participates, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise; or (b) in respect of which one or more persons who participate, directly or indirectly, or through one or more intermediaries, in its management or control or capital, are the same persons who participate, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise. (2) Two enterprises shall be deemed to be associated enterprises if, at any time during the previous year,- (a) one enterprise holds, directly or indirectly, shares carrying not less than twenty-six per cent. of the voting. power in the other enterprise ; or (b) any person or enterprise holds, directly or indirectly, shares carrying not less than twenty-six per cent. of the voting power in each of such enterprises;.....