Bare Act Search Results

Income Tax Act, 1961 Section 88E

Title: Rebate in Respect of Securities Transaction Tax

State: Central

Year: 1961

.....in the manner provided in sub-section (2). (2) For the purposes of sub-section (1), the amount of income-tax on the income arising from the taxable securities transactions, referred to in that sub-section, shall be equal to the amount calculated by applying the average rate of income-tax on such income. Explanation : For the purposes of this section, the expressions taxable securities transaction and securities transaction tax shall have the same meanings respectively assigned to them under Chapter VII of the Finance (No. 2) Act, 2004.] 3[(3) No deduction under this section shall be allowed in, or after, the assessment year beginning on the 1st day of April, 2009.] ______________________ 1. Inserted by the Finance (No. 2) Act, 2004, with effect from 1st April, 2005. 2. See rule 20AB and Form Nos. 10DB and 10DC. 3. Inserted by the Finance Act, 2008, with effect from 1st April, 2008.

Finance (No.2) Act, 2004 Complete Act

State: Central

Year: 2004

FINANCE (NO.2) ACT, 2004 FINANCE (NO.2) ACT, 2004 22 of 2004 PREAMBLE An Act to give effect to the financial proposals of the Central Government for the financial year 2004- BE it enacted by Parliament in the Fifty-fifth Year of the Republic of India as follows: CHAPTER 1: PRELIMINARY: SECTION : Short Title and Commencement: (1) This Act may be called the Finance (No. 2) Act, 2004. (2) Save as otherwise provided in this Act, (S.2) to (S.60) shall lie deemed to have come into force on the 1st day of April, 2004. CHAPTER 2: RATES OF INCOME-TAX: SECTION 2: Income-tax: (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2004, 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 under Chapter VIII-A of the Income-tax Act, (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.....

Finance (No. 2) Act, 2004 Chapter 3

Title: Direct Taxes

State: Central

Year: 2004

.....interest, commission or brokerage, fees forprofessional services or fees for technical services payable to a resident, oramounts payable to a contractor or subcontractor,being resident, for carrying out any work (including supply of labour forcarrying out any work), on which tax is deductible at source under ChapterXVII_B and such tax has not beendeducted or, after deduction, has not been paid during the previous year, or inthe subsequent year before theexpiry of the time prescribed under sub-section(1) of section 200; Provided that where in respect of any such sum, tax has been deductedin any subsequent year or, has been deducted in theprevious year but paid in anysubsequent year after the expiryof the time prescribed under sub-section (1) of section 200, such sum shall be allowed as a deduction in computing the income of the previousyear in which such tax has been paid. Explanation.--for the purposes of this sub-clause,-- (i) "commission or brokerage" shall have the same meaning as in clause (i) ofthe Explanation to section 194H; (ii) "fees for technical services" shall have the same meaning as in Explanation 2toclause (vii) of sub-section (1) ofsection 9; (iii).....

Finance (No. 2) Act, 2004 Section 23

Title: Insertion of New Section 88e

State: Central

Year: 2004

.....of securities transaction tax in the prescribed form: Provided further that the amount of deduction under this sub-section shall not exceed the amount of income-tax on such income computed in the manner provided in sub-section (2). (2) For the purpose of sub-section (1), the amount of income-tax on the income arising from the taxable securities transactions, referred to in that sub-section, shall be equal to the amount calculated by applying the average rate of income-tax on such income. Explanation.--For the purposes of this section, the expressions, "taxable securities transaction" and "securities transaction tax" shall have the same meanings respectively assigned to them under Chapter VII of the Finance (No. 2) Act, 2004.'.

Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 Complete Act

State: Central

Year: 1992

.....officers or other employees for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act. SECTION 13: ACT TO HAVE OVERRIDING EFFECT The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or in any instrument having effect by virtue of any law, other than this Act, or in any decree or order of any court Tribunal or other authority. SECTION 14: POWER TO MAKE RULES (1) The Central Government may, by notification in the Official Gazette, make rules for carrying out the provisions of this Act. (2) Every rule made by the Central Government under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect.....

Special Court (Trial of Offences Relating to Transactions in Securities) Rules, 1992 Complete Act

State: Central

Year: 1992

.....is involved in an offence] referred to in sub-section (2) of section 3-of the 3[Act], he may proceed to notify the name of the person under that sub-section. RULE 05: DUTY OF CUSTODIAN It shall be the duty of the Custodian to furnish to the Central Government a monthly return in the form appended to these rules, and such other statements and information relating to or connected with the functions of Custodian specified in sections 3-and4-of the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992, as the Central Government may require from time to time.] FORM 1 FORM (1) Names of the persons notified by the Custodian under section 3-of the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992, up to the last day of the preceding month (2) Names of the persons notified under section 3-during the month (3) Total number of persons notified [total of ( 1 )+ (2)] (4) Details of properties attached (give separate details for movable and immovable property in respect of each notified person) up to the last day of the preceding month (5) Properties attached (give details of movable and immovable property separately in respect.....

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Chapter IV

Title: Central Registry

State: Central

Year: 2002

.....to such modification of such security interest. Section 25 - Securitisation company or reconstruction company or secured creditor to report satisfaction of security interest (1) The securitisation company or reconstruction, company or the secured creditor as the case may be, shall give intimation to the Central Registrar of the payment or satisfaction in full, of any security interest relating to the securitisation company or the reconstruction company or the secured creditors and requiring registration under this Chapter, within thirty days from the date of such payment or satisfaction, 1[1A) On receipt of intimation under sub-section (1), the Central Registrar shall order that a memorandum of satisfaction shall be entered in the Central Register.] (2)2[If the concerned borrower gives an intimation to the Central Registrar for not recording the payment or satisfaction referred to in sub-section (1), the Central Registrar shall on receipt of such intimation], cause a notice to be sent to the securitisation company or reconstruction company or the secured creditor calling upon it to show cause within a time not exceeding fourteen days specified in such notice, as to why.....

Payment and Settlement Systems Act, 2007 Complete Act

State: Central

Year: 2007

PAYMENT AND SETTLEMENT SYSTEMS ACT, 2007 PAYMENT AND SETTLEMENT SYSTEMS ACT, 2007 51 OF 2007 An Act to provide for the regulation and supervision of payment systems in India and to designate the Reserve Bank of India as the authority for that purpose and for matters connected therewith or incidental thereto. Be it enacted by Parliament in the Fifty-eighth 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 Payment and Settlement Systems Act, 2007. (2) It extends to the whole of India. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act, and any reference to the commencement in any such provision of this Act shall be construed as a reference to the commencement of that provision. SECTION 2 : Definitions (1) In this Act, unless the context otherwise requires,- (a) "bank" means,- (i) a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934); (ii) a post office savings bank; (iii) a banking company.....

Payment and Settlement Systems Act 2007 Chapter V

Title: Rights and Duties of a System Provider

State: Central

Year: 2007

.....arrangements and other relevant documents. (2) It shall be the duty of every system provider to maintain the standards determined under this Act. Section 22 - Duty to keep documents in the payment system confidential (1) A system provider shall not disclose to any other person the existence or contents of any document or part thereof or other information given to him by a system participant, except where such disclosure is required under the provisions of this Act or the disclosure is made with the express or implied consent of the system participant concerned or where such disclosure is in obedience to the orders passed by a court of competent jurisdiction or a statutory authority in exercise of the powers conferred by a statute. (2) The provisions of the Bankers' Book Evidence Act, 1891 shall apply in relation to the information or documents or other books in whatever form maintained by the system provider. Section 23 - Settlement and netting (1) The payment obligations and settlement instructions among the system participants shall be determined in accordance with the gross or netting procedure, as the case may be, approved by the Reserve Bank while issuing.....

Payment and Settlement Systems Act 2007 Section 23

Title: Settlement and Netting

State: Central

Year: 2007

.....that has become final and irrevocable and the right of the system provider to appropriate any collaterals contributed by the system participant towards its settlement or other obligations in accordance with the rules, regulations or bye-laws of such system provider. Explanation-For the removal of doubts, it is hereby declared that the settlement, whether gross or net, referred to in this section is final and irrevocable as soon as the money, securities, foreign exchange or derivatives or other transactions payable as a result of such settlement is determined, whether or not such money, securities or foreign exchange or derivatives or other transactions is actually paid.