Bare Act Search Results

Finance (No. 2) Act, 1998 Chapter VII

Title: Miscellaneous

State: Central

Year: 1998

In the Export-Import Bank of India Act, 1981, section 37 shall be omitted with effect from the 1st day of April, 1999. Section 118 - Amendment of Act 6 of 1898 In the Indian Post Office Act, 1898, with effect from such date as the Central Government may, by notification in the Official Gazette, appoint, for the First Schedule, the following Schedule shall be substituted, namely :-- "THE FIRST SCHEDULE (See section 7) (INLAND POSTAGE RATES) Letters For a weight not exceeding twenty grams Rs. 3.00 for every twenty grams, or fraction thereof, exceeding twenty grams. Rs. 3.00 Letter-cards For a letter-card Rs. 1.50 Post cards (not being post cards containing printed communication or competition post cards) Single 25 paise Reply 50 paise [Post cards containing printed communication (not being competition post cards)] For a post card Rs. 1.50 Explanation.--A post card shall be deemed to contain a printed communication, if any matter (except the name and address of, and other.....

Finance (No. 2) Act, 1998 Section 118

Title: Amendment of Act 6 of 1898

State: Central

Year: 1998

..... radio, newspaper, magazine or any other media. Book pattern and sample packets For the first fifty grams or fraction thereof Re. 1.00 For every additional fifty grams, or fraction thereof, in excess of fifty grams Rs. 2.00 Registered newspapers For a weight not exceeding fifty grams 15 paise For a weight exceeding fifty grams but not exceeding one hundred grams 25 paise For every additional one hundred grams, or fraction thereof, exceeding one hundred grams 10 paise In the case of more than one copy of the came issue of a registered newspaper being carried in the same packet-- For a weight not exceeding one hundred grams 25 paise For every additional one hundred grams, or fraction thereof, exceeding one hundred grams 10 paise; Provided that such packet shall not be delivered at any addressee's residence but shall be given to a recognised agent at the Post Office. Parcels For a weight.....

Finance (No. 2) Act, 1998 Complete Act

State: Central

Year: 1998

FINANCE (NO. 2) ACT, 1998 FINANCE (NO. 2) ACT, 1998 21 of 1998 An Act to give effect to the financial proposals of the Central Government for the financial year 1998-99 BE it enacted by Parliament in the Forty-ninth Year of the Republic of India as follows :- SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called the Finance (No. 2) Act, 1998. (2) Save as otherwise provided in this Act, sections 2 to 98 (except section 51) shall be deemed to have come into force on the 1st day of April, 1998. 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, 1998, income-tax shall be charged at the rates specified in Part I of the First Schedule. (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 exceeding six hundred rupees, in addition to total income, and the total income exceeds forty thousand rupees, then,- (a) the net agricultural income shall be taken into account, in the manner provided in clause (b) [that is to say, as if the net agricultural income were comprised in.....

Finance (No. 2) Act, 1998 Section 40

Title: Amendment of Section 139

State: Central

Year: 1998

In section 139 of the Income-tax Act, in sub-section (1) with effect from the 1st day of August, 1998,- (a) in the proviso-- (i) for the word "two" the word "one" shall be substituted; (ii) after clause (iv), the following shall be inserted, namely: '(v) is the holder of the credit card, not being an "add-on" card, issued by any bank or institution; or (vi) is a member of a club where entrance fee charged is twenty-five thousand rupees or more; Provided further that the Central Government may, by notification in the Official Gazette, specify the class or classes of persons to whom the provisions of the first proviso shall not apply; (b) after Explanation 3, the following Explanation shall be inserted, namely:-- 'Explanation 4.--For the purposes of this sub-section, the expression "travel to any foreign country" does not include travel to the neighbouring countries or to such places of pilgrimage as the Board may specify in this behalf by notification in the Official Gazette.'

Finance (No. 2) Act, 1998 Chapter III

Title: Direct Taxes

State: Central

Year: 1998

.....sold or otherwise transferred by the assessee to Government, a local authority, a corporation established by or under a Central, State of Provincial Act or a Government company as defined in section 617 of the Companies Act, 1956; or (ii) where the sale or transfer of the asset is made in connection with the succession of a firm by a company in the business or profession carried on by the firm as a result of which the firm sells or otherwise transfers to the company any asset and the scheme or the deposit scheme continues to apply to the company in the manner applicable to the firm. Explanation.-- The provisions of clause (ii) of the proviso shall apply only where-- (i) all the properties of the firm relating to the business or profession immediately before the succession become the properties of the company; (ii) all the liabilities of the firm relating to the business or profession immediately before the succession become the liabilities of the company; and (iii) all the shareholders of the company were partners of the firm immediately before the succession. (9) The Central Government may, if it considers necessary or expedient so to do, by notification in the.....