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Income Tax Act, 1961 Section 50

Title: Special Provision for Computation of Capital Gains in Case of Depreciable Assets

State: Central

Year: 1961

.....of section 2, where the capital asset is an asset forming part of a block of assets in respect of which depreciation has been allowed under this Act or under the Indian Income-tax Act, 1922 (11 of 1922), the provisions of sections 48 and 49 shall be subject to the following modifications: (1) where the full value of the consideration received or accruing as a result of the transfer of the asset together with the full value of such consideration received or accruing as a result of the transfer of any other capital asset falling within the block of the assets during the previous year, exceeds the aggregate of the following amounts, namely: (i) expenditure incurred wholly and exclusively in connection with such transfer or transfers ; (ii) the written down value of the block of assets at the beginning of the previous year ; and (iii) the actual cost of any asset falling within the block of assets acquired during the previous year, such excess shall be deemed to be the capital gains arising from the transfer of short-term capital assets ; (2) where any block of assets ceases to exist as such, for the reason that all the assets in that block are transferred during the.....

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Deposit Insurance and Credit Guarantee Corporation Act, 1961 Section 50

Title: Regulation

State: Central

Year: 1961

.....session or the successive sessions aforesaid, both Houses agree in making any modification in the regulation, or both Houses agree that the regulation should not be made, the regulation shall thereafter have effect only in such modified form or be of no effect, as the case may be; so however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that regulation.] _______________________ 1. Inserted by Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act (66 of 1988), Section. 26, (w.e.f. 30-12-88). 2. Inserted by Banking Laws (Amendment) Act (1 of 1984), Section. 64 (w.e.f. 15-2-84).

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Advocate Act, 1961 Section 50

Title: Repeal of Certain Enactments

State: Central

Year: 1961

.....On thedate on which a State Bar Council is constituted under this Act, theprovisions of sections 3 to 7 (inclusive), subsections (1) , (2) and(3) of section 9, section 15 and section 20 of the Indian BarCouncils Act, 1926, (38 of 1926) shall stand repealed in theterritory for which the State Bar Council is constituted. (2) On the date onwhich Chapter III comes into force, the following shall standrepealed, namely:- (a) sections 6, 7, 18and 37 o the Legal Practitioners Act, 1879, (18 of 1879) and so muchf sections 8, 9, 16, 17, 19 and 41 of that Act as relate to theadmission and enrolment of legal practitioners; (b) sections 3, 4 and 6of the Bombay Pleaders Act, 1920 (Bombay Act 17 of 1920); (c) so much of section8 of the Indian Bar Councils Act, 1926, (38 of 1926) as relates tothe admission and enrolment of legal practitioners; (d) theprovisions of the Letters Patent of any High Court and of any otherlaw in so far a They relate to the admission and enrolment of legalpractitioners. (3) On thedate on which Chapter IV comes into force, the following shall standrepealed, namely:- (a) sections 4, 5, 10and 20 of the Legal Practitioners Act, 1879, (18 of 1879) and so.....

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Income Tax Act, 1961 Section 182 to 185

Title: A.assessment of Firms

State: Central

Year: 1961

1 [A.-Assessment of firms] ________________________ 1. Reintroduced by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Earlier, it was omitted by the Direct Tax Laws (Amendment) Act, 1987, with effect from the same date.

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Income Tax Act, 1961 Section 206C to 206CA

Title: Bb.collection at Source

State: Central

Year: 1961

1[BB.-Collection at source _________________________ 1.Inserted by the Finance Act, 1988, w.e.f. 1-6-1988.

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Income Tax Act, 1961 Section 206B

Title: [Omitted]

State: Central

Year: 1961

1[***] _____________________________________ 1. Omitted by the Finance (No. 2) Act, 1996, with effect from 1st October, 1996.

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Income Tax Act, 1961 Section 189A

Title: Provisions Applicable to Past Assessments of Firms

State: Central

Year: 1961

In relation to the assessment of any firm and its partners for the assessment year commencing on the 1st day of April, 1992, or any earlier assessment year, the provisions of this Chapter as they stood immediately before the 1st day of April, 1993 shall continue to apply.

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Income Tax Act, 1961 Section 188A

Title: Joint and Several Liability of Partners for Tax Payable by Firm

State: Central

Year: 1961

Every person who was, during the previous year, a partner of a firm, and the legal representative of any such person who is deceased, shall be jointly and severally liable along with the firm for the amount of tax, penalty or other sum payable by the firm for the assessment year to which such previous year is relevant, and all the provisions of this Act, so far as may be, shall apply to the assessment of such tax or imposition or levy of such penalty or other sum.

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