Bare Act Search Results

Finance Act, 2012, (Central) Section 139

Title: Amendment of Notification Issued Under Section 5a of Central Excise Act

State: Central

Year: 2012

.....amended retrospectively, in the manner specified in column (2) of the Fifth Schedule, on and from the corresponding date specified in column (3) of that Schedule, against the said notifications specified in column (1) of that Schedule. (2) For the purposes of sub-section (1), the Central Government shall have and shall be deemed to have the power to amend the said notifications with retrospective effect as if the Central Government had the power to amend the said notifications under sub-section (1) of section 5A of the Central Excise Act, 1944(1 of 1944), retrospectively, at all material times. Explanation. For the removal of doubts, it is hereby declared that no act or omission on the part of any person shall be punishable as an offence which would not have been so punishable had the said notification not been amended retrospectively.

Finance Act, 2012, (Central) Section 56

Title: Amendment of Section 139

State: Central

Year: 2012

In section 139 of the Income-tax Act, in sub-section (1),-- (a) after the third proviso, the following proviso shall be inserted, namely:-- "Provided also that a person, being a resident, other than not ordinarily resident in India within the meaning of clause (6) of section 6 who is not required to furnish a return under this sub-section and who during the previous year has any asset (including any financial interest in any entity) located outside India or signing authority in any account located outside India, shall furnish, on or before the due date, a return in respect of his income or loss for the previous year in such form and verified in such manner and setting forth such other particulars as may be prescribed.". (b) in Explanation 2,-- (i) in clause (a),-- (A) after the words "the assessee", the words, brackets and letters "other than an assessee referred to in clause (aa)" shall be inserted; (B) in sub-clause (i), the words, brackets and letters "other than a company referred to in clause (aa)" shall be omitted; (ii) in clause (aa), for the words 'being a company, which", the word "who" shall be substituted.

Finance Act, 2012, (Central) Section 139A

Title: Amendment of Notification Number G.s.r. 254(E) Issued Under Section 5a of Central Excise Act

State: Central

Year: 2012

.....Importance) Act, 1957(58 of 1957), in the TABLE, after S. No. 19 and the entries relating thereto, the following S. No. and the entries shall be and shall be deemed to be inserted retrospectively with effect from the 20th day of April, 2011, namely:- (1) (2) (3) "20. All goods falling under heading 8607 If the goods are,- (i) manufactured by a factory belonging to the Central Government; and (ii) intended for use by any Department of the Central Government.". (2) For the purposes of sub-section (1), the Central Government shall have and shall be deemed to have the power to amend the notification referred to in sub-section (1) with retrospective effect as if the Central Government had the power to amend the said notification under sub-section (1) of section 5A of the Central Excise Act, 1944(1 of 1994) read with sub-section (3) of section 3 of the Additional Duties of Excise (Goods of Special Importance) Act, 1957(58 of 1957) retrospectively at all material times."

Finance Act, 2012, (Central) Section 39

Title: Insertion of New Sections 92cc and 92cd

State: Central

Year: 2012

.....by that person. (2) The manner of determination of arm's length price referred to in sub-section (1), may include the methods referred to in sub-section (1) of section 92C or any other method, with such adjustments or variations, as may be necessary or expedient so to do. (3) Notwithstanding anything contained in section 92C or section 92CA, the arm's length price of any international transaction, in respect of which the advance pricing agreement has been entered into, shall be determined in accordance with the advance pricing agreement so entered. (4) The agreement referred to in sub-section (1) shall be valid for such period not exceeding five consecutive previous years as may be specified in the agreement. (5) The advance pricing agreement entered into shall be binding-- (a) on the person in whose case, and in respect of the transaction in relation to which, the agreement has been entered into; and (b) on the Commissioner, and the income-tax authorities subordinate to him, in respect of the said person and the said transaction. (6) The agreement referred to in sub-section (1) shall not be binding if there is a change in law or facts having bearing on the.....

The Haryana Municipal Corporation (Amendment) Act, 2012 Complete Act

State: Haryana

Year: 2012

THE HARYANA MUNICIPAL CORPORATION (AMENDMENT) ACT, 2012 THE HARYANA MUNICIPAL CORPORATION (AMENDMENT) ACT, 2012 Haryana Act No. 21 of 2012 An Act further to amend the Haryana Municipal Corporation Act, 1994. Be it enacted by the Legislature of the State of Haryana in the Sixty-third Year of the Republic of India as follows :" 1. Short title and commencement. (1) This Act may be called the Haryana Municipal Corporation (Amendment) Act, 2012. (2) It shall be deemed to have come into force with effect from 1st April, 2010. 2. Amendment of section 2 of Haryana Act 16 of 1994. In the Haryana Municipal Corporation Act, 1994 (hereinafter called the principal Act), clause (1) of section 2 shall be omitted. 3. Amendment of section 87 of Haryana Act 16 of 1994. In the principal Act, for clause (a) of sub-section (1) of section 87, the following clause shall be substituted, namely:" "(a) a property tax payable by the owner or occupier of building and land at the rates notified by the Government, from time to time depending upon the area in which the building or land is situated, its location, purpose for which it is used, its capacity for profitable use,.....

Finance Act, 2012, (Central) Complete Act

Title: the Finance Act, 2012

State: Central

Year: 2012

..... Section 1 - Short title and commencement Chapter II - RATES OF INCOME Section 2 - Income Chapter III - DIRECT TAXES Section 3 - Amendment of section 2 Section 4 - Amendment of section 9 Section 5 - Amendment of section 10 Section 6 - Amendment of section 13 Section 7 - Amendment of section 32 Section 8 - Amendment of section 35 Section 9 - Amendment of section 35AD Section 10 - Insertion of new sections 35CCC and 35CCD Section 11 - Amendment of section 40 Section 12 - Amendment of section 40A Section 13 - Amendment of section 44AB Section 14 - Amendment of section 44AD Section 15 - Amendment of section 47 Section 16 - Amendment of section 49 Section 17 - Insertion of new section 50D Section 18 - Amendment of section 54B Section 19 - Insertion of new section 54GB Section 20 - Amendment of section 55A Section 21 - Amendment of section 56 Section 22 - Amendment of section 68 Section 23 - Amendment of section 80A Section 24 - Amendment of section 80C Section 24A - Insertion of new section 80CCG Section 25 - Amendment of section 80D Section 26 - Amendment of section 80DDB Section 27 - Amendment of section 80G Section 28 - Amendment of section 80GGA .....

Finance Act, 2012, (Central) Section 19

Title: Insertion of New Section 54gb

State: Central

Year: 2012

.....to the due date of furnishing of return of income under sub-section (1) of section 139 by the assessee; (ii) it is engaged in the business of manufacture of an article or a thing; (iii) it is a company in which the assessee has more than fifty per cent. share capital or more than fifty per cent. voting rights after the subscription in shares by the assessee; and (iv) it is a company which qualifies to be a small or medium enterprise under the Micro, Small and Medium Enterprises Act, 2006(27 of 2006); (c) "net consideration" shall have the meaning assigned to it in the Explanation to section 54F; (d) "new asset" means new plant and machinery but does not include-- (i) any machinery or plant which, before its installation by the assessee, was used either within or outside India by any other person; (ii) any machinery or plant installed in any office premises or any residential accommodation, including accommodation in the nature of a guest-house; (iii) any office appliances including computers or computer software; (iv) any vehicle; or (v) any machinery or plant, the whole of the actual cost of which is allowed as a deduction (whether by way of depreciation or.....

Finance Act, 2012, (Central) Schedule

Title: the Fifth Schedule

State: Central

Year: 2012

THE FIFTH SCHEDULE (See section 139) Notification number and date Amendment Date of effect of amendment (1) (2) (3) 1. G.S.R. 62 (E), dated the 6th February, 2010 [1/2010-Central Excise, dated the 6th February, 2010]. In the said notification, in paragraph 9, for the words "from the date of publication of this notification or from the date of commercial production whichever is later", the following words shall be substituted, namely:-- "from the date of commercial production, or from the date of commercial production from the expanded capacity referred to in sub-clause (i) of clause (b) of paragraph 8, as the case may be". 6th day of February, 2010. 2. G.S.R. 163(E), dated the 17th March, 2012 [12/2012-Central Excise, dated 17th March, 2012] In the said notification, in the Table, in Sl. No. 199, against item (I)- (a) for the entry in column (4), the entry "Nil" shall be substituted; (b) the entry in column (5) shall be omitted. 17th day of March, 2012

Finance Act, 2012, (Central) Section 96

Title: Insertion of New Section 271aab

State: Central

Year: 2012

.....per cent. of the undisclosed income of the specified previous year, if such assessee-- (i) in the course of the search, in a statement under sub-section (4) of section 132, admits the undisclosed income and specifies the manner in which such income has been derived; (ii) substantiates the manner in which the undisclosed income was derived; and (iii) on or before the specified date-- (A) pays the tax, together with interest, if any, in respect of the undisclosed income; and (B) furnishes the return of income for the specified previous year declaring such undisclosed income therein; (b) a sum computed at the rate of twenty per cent. of the undisclosed income of the specified previous year, if such assessee-- (i) in the course of the search, in a statement under sub-section (4) of section 132, does not admit the undisclosed income; and (ii) on or before the specified date-- (A) declares such income in the return of income furnished for the specified previous year; and (B) pays the tax, together with interest, if any, in respect of the undisclosed income; (c) a sum which shall not be less than thirty per cent. but which shall not exceed ninety per cent. of the.....

Finance Act, 2012, (Central) Section 13

Title: Amendment of Section 44ab

State: Central

Year: 2012

In section 44AB of the Income-tax Act,-- (i) in clause (a), for the words "sixty lakh rupees", the words "one crore rupees" shall be substituted with effect from the 1st day of April, 2013; (ii) in clause (b), for the words "fifteen lakh rupees", the words "twenty-five lakh rupees" shall be substituted with effect from the 1st day of April, 2013; (iii) in the Explanation, in clause (ii), for the words, figures and letters "the 30th day of September of the assessment year", the words, brackets and figures "the due date for furnishing the return of income under sub-section (1) of section 139" shall be substituted.