Bare Act Search Results
Home Bare Acts Phrase: section 80Finance Act 2007 Section 32
Title: Insertion of New Section 80-ie
State: Central
Year: 2007
.....on the 1st day of April, 2007 and ending before the 1st day of April, 2017, begun or begins, in any of the North-Eastern States,-- (i) to manufacture or produce any eligible article or thing; (ii) to undertake substantial expansion to manufacture or produce any eligible article or thing; (iii) to carry on any eligible business. (3) This section applies to any undertaking which fulfils all the following conditions, namely:-- (i) it is not formed by splitting up, or the reconstruction, of a business already in existence: Provided that this condition shall not apply in respect of an undertaking which is formed as a result of the re-establishment, reconstruction or revival by the assessee of the business of any such undertaking as referred to in section 33B, in the circumstances and within the period specified in the said section; (ii) it is not formed by the transfer to a new business of machinery or plant previously used for any purpose. Explanation.--The provisions of Explanations 1 and 2 to sub-section (3) of section 80-IA shall apply for the purposes of clause (ii) of this sub-section as they apply for the purposes of clause (ii) of that sub-section. (4).....
View Complete Act List Judgments citing this sectionFinance Act 1970 Section 14
Title: Substitution of New Section for Section 80-l
State: Central
Year: 1970
.....a co-operative land development) bank; or (vii) interest on deposits with a financial corporation which is enganged in providing long-term finance for industrial development in India and which is approved by the Central Government for the purposes of clause (viii) of sub-section (1) of Section 36, there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction as specified hereunder, namely : (a) in a case where the amount of such income does not exceed in the aggregate three thousand rupees, the whole of such amount; and (b) in any other case, three thousand rupees. (2) In a case where the assessee is entitled also to the deduction under Section 80-K in relation to the whole or any part of the income by way of dividends referred to in clause (iv) of sub-section (1), only so much of such income by way of dividends as may remain after the deduction under Section 80-K shall be taken into account for the purpose of allowing the deduction under sub-section (1)."
View Complete Act List Judgments citing this sectionFinance Act, 2003 Section 40
Title: Insertion of New Section 80-ic
State: Central
Year: 2003
.....and gains, as specified in sub-section (3). (2) This section applies to any undertaking or enterprise,-- (a) which has begun or begins to manufacture or produce any article or thing, not being any article or thing specified in the Thirteenth Schedule, or which manufactures or produces any article or thing, not being any article or thing specified in the Thirteenth Schedule and undertakes substantial expansion during the period beginning-- (i) on the 23rd day of December, 2002 and ending before the 1st day of April, 2012, in any Export Processing Zone or Integrated Infrastructure Development Centre or Industrial Growth Centre or Industrial Estate or Industrial Park or Software Technology Park or Industrial Area or Theme Park, as notified by the Board in accordance with the scheme framed and notified by the Central Government in this regard, in the State of Sikkim; or (ii) on the 7th day of January, 2003 and ending before the 1st day of April, 2012, in any Export Processing Zone or Integrated Infrastructure Development Centre or Industrial Growth Centre or Industrial Estate or Industrial Park or Software Technology Park or Industrial Area or Theme Park, as notified by.....
View Complete Act List Judgments citing this sectionRailway Claims Tribunal Act, 1987 Section 33
Title: Substitution of New Section for Section 80
State: Central
Year: 1987
For section 80 of the Railways Act, the following section shall be substituted, namely:-- "80. Application for compensation.--An application to the Claims Tribunal for compensation for loss of the life of, or personal injury to, a passenger or for loss, destruction, damage, deterioration or non-delivery of animals or goods may be made,-- (a) if the passenger was, or the animals or goods were, booked from one station to another on the railway of the same railway administration, against that railway administration; (b) if the passenger was, or the animals or goods were, booked through over the railway of two or more railway administrations, against the railway administration from which the passenger obtained his pass or purchased his ticket or to which the animals or goods were delivered for carriage, as the case may be, or against the railway administration on whose railway the destination station lies, or the loss, injury, destruction, damage or deterioration occurred."
View Complete Act List Judgments citing this sectionFinance Act 2007 Section 31
Title: Insertion of New Section 80-id
State: Central
Year: 2007
.....the transfer to a new business of machinery or plant previously used for any purpose. Explanation.--The provisions of Explanations 1 and 2 to sub-section (3) of section 80-IA shall apply for the purposes of clause (iii) of this subsection as they apply for the purposes of clause (ii) of that sub-section; (iv) the assessee furnishes along with the return of income, the report of an audit in such form and containing such particulars as may be prescribed, and duly signed and verified by an accountant, as defined in the Explanation below sub-section (2) of section 288, certifying that the deduction has been correctly claimed. (4) Notwithstanding anything contained in any other provision of this Act, in computing the total income of the assessee, no deduction shall be allowed under any other section contained in Chapter VIA or section 10AA, in relation to the profits and gains of the undertaking. (5) The provisions contained in sub-section (5) and sub-sections (8) to (11) of section 80-IA shall, so far as may be, apply to the eligible business under this section. (6) For the purposes of this section,-- (a) "convention centre" means a building of a prescribed area.....
View Complete Act List Judgments citing this sectionFinance Act, 1987 Section 36
Title: Amendment of Section 80-o
State: Central
Year: 1987
In section 80-O of the Income-tax Act, with effect from the 1st day of April, 1988, - (a) in the opening paragraph, - (i) the portion beginning with the words "or having been received in convertible foreign exchange outside India" and ending with the words "and dealings in foreign exchange," shall be omitted; (ii) for the words "so received in, or brought into, India", the words "so received in India" shall be substituted; (b) after the second proviso, the following proviso shall be inserted, namely :- "Provided also that such income is received in India within a period of six months from the end of the previous year, or where the Commissioner is satisfied (for reasons to be recorded in writing) that the assessee is, for reasons beyond his control, unable to do so within the said period of six months, within such further period as the Commissioner may allow in this behalf."; (c) in the Explanation, for clause (ii), the following clause shall be substituted, namely :- '(ii) "foreign enterprise" means a person who is a non-resident.'.
View Complete Act List Judgments citing this sectionFinance Act 1997 Section 29
Title: Amendment of Section 80-o
State: Central
Year: 1997
In section 80-O of the Income-tax Act, for the portion beginning with the words "any income by way of royalty" and ending with the words "outside India to such Government or enterprise by the assessee,", the words "any income received by the assessee from the Government of a foreign State or foreign enterprise in consideration for the use outside India of any patent, invention, design or registered trade mark" shall be substituted with effect from the 1st day of April, 1998.
View Complete Act List Judgments citing this sectionFinance Act, 1995 Section 63
Title: Amendment of Section 80
State: Central
Year: 1995
In section 80 of the Customs Act, after the words "on his leaving India", the words "and if for any reason, the passenger is not able to collect the article at the time of his leaving India, the article may be returned to him through any other passenger authorised by him and leaving India or as cargo consigned in his name" shall be inserted.
View Complete Act List Judgments citing this sectionFinance Act 1972 Section 18
Title: Omission of Section 80-i
State: Central
Year: 1972
Section 80-I of the Income-tax Act shall be omitted with effect from the 1st day of April, 1973.
View Complete Act List Judgments citing this sectionFinance Act, 2000 Section 41
Title: Amendment of Section 80-o
State: Central
Year: 2000
In section 80-O of the Income-tax Act, for the portion beginning with the words "a deduction of an amount" and ending with the words "total income of the assessee", the following shall be substituted with effect from the 1st day of April, 2001, namely:- "a deduction of an amount equal to- (i) forty per cent. for an assessment year beginning on the 1st day of April, 2001; (ii) thirty per cent. for an assessment year beginning on the 1st day of April, 2002; (iii) twenty per cent. for an assessment year beginning on the 1st day of April, 2003; (iv) ten per cent. for an assessment year beginning on the 1st day of April, 2004, of the income so received in, or brought into, India, in computing the total income of the assessee and no deduction shall be allowed in respect of the assessment year beginning on the 1st day of April, 2005 and any subsequent assessment year".
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