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Home Bare Acts Phrase: section 245qFinance Act, 2012, (Central) Section 88
Title: Amendment of Section 245q
State: Central
Year: 2012
In section 245Q of the Income-tax Act, in sub-section (2), for the words "two thousand five hundred rupees", the words "ten thousand rupees or such fee as may be prescribed in this behalf, whichever is higher" shall be substituted with effect from the 1st day of July, 2012.
View Complete Act List Judgments citing this sectionFinance (No. 2) Act, 2004 Section 35
Title: Amendment of Section 153
State: Central
Year: 2004
In section 153 of the Income-tax Act, in Explanation 1, with effect from the 1st day of October, 2004,-- (a) in clause (v), for the words "that section,", the words "that section, or" shall be substituted; (b) after clause (v) and before the words "shall be excluded", the following clauses shall be inserted, namely;-- "(vi) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the order rejecting the application is received by the Commissioner under sub-section (3) of section 245R, or (vii) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the advance ruling pronounced by it is received by the Commissioner under sub-section (7) of section 245R,".
View Complete Act List Judgments citing this sectionFinance (No. 2) Act, 2004 Section 36
Title: Amendment of Section 153b
State: Central
Year: 2004
In section 153B of the Income-tax Act, in sub-section (1), in the Explanation, with effect from the 1st day of October, 2004,-- (a) in clause (iv), for the words "that section,", the words "that section, or" shall be substituted; (b) after clause (iv) and before the words "shall be excluded", the following clauses shall be inserted, namely:-- "(v) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the order rejecting the application is received by the Commissioner under sub-section (3) of section 245R, or (vi) the period commencing from the date on which an application is made before the Authority for Advance Rulings under sub-section (1) of section 245Q and ending with the date on which the advance ruling pronounced by it is received by the Commissioner under sub-section (7) of section 245R,".
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 153B
Title: Time-limit for Completion of Assessment Under Section 153a
State: Central
Year: 1961
.....of assessment or reassessment,- (a) in respect of each assessment year falling within six assessment years referred to in clause (b) of 2[sub-section (1) of section 153A], within a period of two years from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed; (b) in respect of the assessment year relevant to the previous year in which search is conducted under section 132 or requisition is made under section 132A, within a period of two years from the end of the financial year in which the last of the authorisations for search under section 132 or for requisition under section 132A was executed : 3[Provided that in case of other person referred to in section 153C, the period of limitation for making the assessment or reassessment shall be the period as referred to in clause (a) or clause (b) of this sub-section or one year from the end of the financial year in which books of account or documents or assets seized or requisitioned are handed over under section 153C to the Assessing Officer having jurisdiction over such other person, whichever is later:] 4[Provided further.....
View Complete Act List Judgments citing this sectionFinance 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;'.
View Complete Act List Judgments citing this sectionFinance (No. 2) Act, 2004 Section 52
Title: Amendment of Section 245rr
State: Central
Year: 2004
In section 245RR of the Income-tax Act, for the words, brackets, figures and letter "under sub-section (1) of section 245R", the words, brackets, figures and letter "under sub-section (1) of section 245Q" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of October, 1998.
View Complete Act List Judgments citing this sectionIncome 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.....
View Complete Act List Judgments citing this sectionFinance Act, 1993 Section 31
Title: Insertion of New Chapter Xix-b
State: Central
Year: 1993
.....In this Chapter, unless the context otherwise requires, - (a) "advance ruling" means the determination, by the Authority, of a question of law or fact specified in the application in relation to a transaction which has been undertaken, or is proposed to be undertaken, by the applicant; (b) "applicant" means a non-resident making an application; (c) "application" means an application made to the Authority under sub-section (1) of section 245Q; (d) "Authority" means the Authority for Advance Rulings constituted under section 245-O; (e) "Chairman" means the Chairman of the Authority; (f) "Member" means a Member of the Authority and includes the Chairman. 245-O. Authority for Advance Rulings. -(1) The Central Government shall constitute an Authority for giving advance rulings, to be known as "Authority for Advance Rulings". (2) The Authority shall consist of the following Members appointed by the Central Government, namely :- (a) a Chairman, who is a retired Judge of the Supreme Court; (b) an officer of the Indian Revenue Service who is qualified to be a member of the Central Board of Direct Taxes; (c) an officer of the Indian Legal Service who is, or is.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 153
Title: Time Limit for Completion of Assessments and Reassessments
State: Central
Year: 1961
.....to the assessment year commencing on the 1st day of April, 1971, and any subsequent assessment year, an order of fresh assessment in pursuance of an order under section 250, section 254, section 263 or section 264, setting aside or cancelling an assessment, may be made at any time before the expiry of one year from the end of the financial year in which the order under section 250 or section 254 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Chief Commissioner or Commissioner : Provided that where the order under section 250 or section 254 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Chief Commissioner or Commissioner, on or after the 1st day of April, 1999 but before the 1st day of April, 2000, such an order of fresh assessment may be made at any time up to the 31st day of March, 2002:] 1[Provided further that where the order under section 254 is received by the Chief Commissioner or Commissioner or, as the case may be, the order under section 263 or section 264 is passed by the Commissioner on.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 245RR
Title: Appellate Authority Not to Proceed in Certain Cases
State: Central
Year: 1961
1[No income-tax authority or the Appellate Tribunal shall proceed to decide any issue in respect to which an application has been made by an applicant, being a resident, 2[under sub-section (1) of section 245Q].] __________________________ 1. Inserted by the Finance (No. 2) Act, 1998, with effect from 1st October, 1998. 2. Substituted for under sub-section (1) of section 245R by the Finance (No. 2) Act, 2004, with retrospective effect from 1st October, 1998.
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