Bare Act Search Results

Income Tax Act, 1961 Section 245N

Title: Definitions

State: Central

Year: 1961

.....by a resident applicant with a 3[such non-resident], and such determination shall include the determination of any question of law or of fact specified in the application; (iii) a determination or decision by the Authority in respect of an issue relating to computation of total income which is pending before any income-tax authority or the Appellate Tribunal and such determination or decision shall include the determination or decision of any question of law or of fact relating to such computation of total income specified in the application;] 4[Provided that where an advance ruling has been pronounced, before the date5 on which the Finance Bill, 2003 receives the assent of the President, by the Authority in respect of an application by a resident applicant referred to in sub-clause (ii) of this clause as it stood immediately before such date5, such ruling shall be binding on the persons specified in section 245S;] 6[(b) applicant means any person who (i) is a non-resident referred to in sub-clause (i) of clause (a); or (ii) is a resident referred to in sub-clause (ii) of clause (a); or (iii) is a resident falling within any such class or category of.....

Finance Act, 2000 Chapter III

Title: Direct Taxes

State: Central

Year: 2000

.....appointed in this behalf by the Central Government in exercise of the powers conferred by section 14 of the Industries (Development and Regulation) Act, 1951 (65 of 1951), and the rules made under that Act; (v) "relevant assessment years" means any assessment year falling within a period of ten consecutive assessment years, referred to in this section.". Section 8 - Amendment of section 11 In section 11 of the Income-tax Act, in sub-section (5),- (a) in clause (vii), the following proviso shall be inserted with effect from the 1st day of April, 2001, namely:- "Provided that where an investment or deposit in any public sector company has been made and such public sector company ceases to be a public sector company,- (A) such investment made in the shares of such company shall be deemed to be an investment made under this clause for a period of three years from the date on which such public sector company ceases to be a public sector company; (B) such other investment or deposit shall be deemed to be an investment made under this clause for the period up to the date on which such investment or deposit becomes repayable by such company;"; (b) in clauses (viii) and.....

Finance Act, 2003 Chapter III

Title: Direct Taxes

State: Central

Year: 2003

.....of April, 2004, namely:-- 'Explanation 2.--For the removal of doubts, it is hereby declared that "business connection" shall include any business activity carried out through a person who, acting on behalf of the non-resident,-- (a) has and habitually exercises in India, an authority to conclude contracts on behalf of the non-resident, unless his activities are limited to the purchase of goods or merchandise for the non-resident; or (b) has no such authority, but habitually maintains in India a stock of goods or merchandise from which he regularly delivers goods or merchandise on behalf of the non-resident; or (c) habitually secures orders in India, mainly or wholly for the non-resident or for that non-resident and other non-residents controlling, controlled by, or subject to the same common control, as that non-resident: Provided that such business connection shall not include any business activity carried out through a broker, general commission agent or any other agent having an independent status, if such broker, general commission agent or any other agent having an independent status is acting in the ordinary course of his business: Provided further that where.....

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.....

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 87A

Title: Amendment of Section 245n

State: Central

Year: 2012

In section 245N of the Income-tax Act, with effect from the 1st day of April, 2013,- (I) in clause (a), after sub-clause (iii) and before the proviso, the following sub-clause shall be inserted, namely:- (iv) a determination or decision by the Authority whether an arrangement, which is proposed to be undertaken by any person being a resident or a non-resident, is an impermissible avoidance arrangement as referred to in Chapter X-A or not."; (II) in clause (b),- (i) in sub-clause (iii), for the word "and", occurring at the end, the word "or" shall be substituted; (ii) after sub-clause (iii), the following sub-clause shall be inserted, namely:- "(iiia) is referred to in sub-clause (iv) of clause (a); and"

Finance Act, 2003 Section 92

Title: Amendment of Section 245n

State: Central

Year: 2003

In section 245N of the Income-tax Act, in clause (a),-- (a) in sub-clause (ii), with effect from the 1st day of June, 2000,-- (i) after the words "a determination by the Authority in relation to", the words "the tax liability of a non-resident: arising out of shall be inserted and shall be deemed to have been inserted; (ii) for the words "a non-resident", the words "such non-resident" shall be substituted and shall be deemed to have been substituted; (b) after sub-clause (iii), the following proviso shall be inserted, namely:- "Provided that where an advance ruling has been pronounced, before the date on which the Finance Bill, 2003 receives the assent of the President, by the Authority in respect of an application by a resident applicant referred to in sub- clause (ii) of this clause as it stood immediately before such date, such ruling shall be binding on the persons specified in section 245-S;".

Finance Act, 2000 Section 63

Title: Amendment of Section 245n

State: Central

Year: 2000

.....determination by the Authority in relation to a transaction which has been undertaken or is proposed to be undertaken by a resident applicant with a non-resident, and such determination shall include the determination of any question of law or of fact specified in the application; (iii) a determination or decision by the Authority in respect of an issue relating to computation of total income which is pending before any income-tax authority or the Appellate Tribunal and such determination or decision shall include the determination or decision of any question of law or of fact relating to such computation of total income specified in the application; (b) "applicant" means any person who- (i) is a non-resident referred to in sub-clause (i) of clause (a); or (ii) is a resident referred to in sub-clause (ii) of clause (a); or (iii) is a resident falling within any such class or category of persons as the Central Government may, by notification in the Official Gazette, specify in this behalf; and (iv) makes an application under sub-section (1) of section 245Q;'.

Income Tax Act, 1961 Complete Act

State: Central

Year: 1961

INCOME TAX ACT, 1961 INCOME TAX ACT, 1961 43 of 1961 [AS AMENDED BY FINANCE ACT, 2003] An Act to consolidate and amend the law relating to income-tax and super-tax BE it enacted by Parliament in the Twelfth Year of the Republic of India as follows : CHAPTER 1 PRELIMINARY Section 1 Short title, extent and commencement (1) This Act may be called the Income-tax Act, 1961. (2) It extends to the whole of India. (3) Save as otherwise provided in this Act, it shall come into force on the 1st day of April, 1962. Section 2 Definitions 1 Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1) "advance tax" means the advance tax payable in accordance with the provisions of Chapter XVII-C;] 2 Renumbered as clause (1A) by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.[(1A)] 3 For manner of computation of income which is partially agricultural and partially frombusiness, see rules 7, 7A, 7B and 8. For analysis, see Mashbra's Income-tax Rules."agricultural income" means - 4 Substituted by the Taxation Laws (Amendment) Act, 1970, w.r.e.f. 1-4-1962.[(a) any rent or revenue derived from land which is situated in India and is used for.....

Finance Act, 2000 Section 64

Title: Amendment of Section 245r

State: Central

Year: 2000

In section 245R of the Income-tax Act, in sub-section (2), for the first proviso, the following proviso shall be substituted with effect from the 1st day of June, 2000, namely:- "Provided that the Authority shall not allow the application where the question raised in the application, - (i) is already pending before any income-tax authority or Appellate Tribunal [except in the case of a resident applicant falling in sub- clause (iii) of clause (b) of section 245N] or any Court; (ii) involves determination of fair market value of any property; (iii) relates to a transaction or issue which is designed prima facie for the avoidance of income-tax [except in the case of a resident applicant falling in sub-clause (iii) of clause (b) of section 245N]:".