Bare Act Search Results

Finance Act 2001 Schedule III

Title: Third Schedule

State: Central

Year: 2001

.....of opium and their derivatives; salts thereof: 2939.11 -- Concentrates of poppy straw; buprenorphine (INN), codeine, dihydrocodeine (INN), ethylmorphine, etorphine (INN), heroin, hydrocodone (INN), hydromorphone (INN), morphine, nicomorphine (INN), oxycodone (INN), oxymorphone (INN), pholcodine (INN), thebacon (INN) and thebaine; salts thereof 35% .. 2939.19 -- Other 35% .."; (b) after sub-heading No. 2939.42 and the entries relating thereto, the following sub-heading and entry shall be inserted, namely:-- "2939.43 -- Cathine (INN) and its salts 35% 25%"; (c) for sub-heading No. 2939.50 and the entries relating thereto, the following sub-headings and entries shall be substituted, namely:-- "-Theophylline and aminophylline (theophylline-ethylenediamine) and their derivatives; salts thereof: 2939.51 -- Fenetylline (INN) and its salts 35% 25% 2939.59 -- Other 35% 25%"; (d).....

Finance Act, 2001 Complete Act

State: Central

Year: 2001

FINANCE ACT, 2001 FINANCE ACT, 2001 14 of 2001 An Act to give effect to the financial proposals of the Central Government for the financial year 2001-2002 BE it enacted by Parliament in the Fifty-second Year of the Repub of India as follows :" SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called theFinance Act, 2001-. (2) Save as otherwise provided in this Act,section 2-toSection 101-shall be deemed to have come into force on the 1st day of April, 2001. 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, 2001, 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 underChapter 8A of the Income-tax Act, 1961-(43 of 1961) (hereinafter referred to as the Income-tax Act) shall be increased," (a) in the cases to which Paragraphs A, B, C and D of that Part apply, by a surcharge for purposes of the Union; and (b) in the cases to which Paragraph E of that Part applies, by a surcharge, calculated in each case in the manner provided therein. (2) In the cases to which Paragraph A of.....

Finance Act 2001 Chapter VI

Title: Miscellaneous

State: Central

Year: 2001

.....hundred grams : Rs.16.00 For every five hundred grams, or fraction thereof, exceeding five hundred grams : Rs.15.00 Section 139 - Amendment of section 14 of Act 74 of 1956 In the Central Sales Tax Act, 1956, in section 14,- (a) after clause (iic), the following clause shall be inserted, namely:- '(iid) Aviation Turbine Fuel sold to a Turbo-Prop Aircraft. Explanation-For the purposes of this clause, "Turbo-Prop Aircraft" means an aircraft deriving thrust, mainly from propeller, which may be driven by either turbine engine or piston engine;'; (b) in clause (iv), in sub-clause (i), for the words "pig iron and", the words "pig iron, sponge iron and" shall be substituted. Section 140 - Omission of section 55 of Act 61 of 1981 Section 55 of the National Bank for Agriculture and Rural Development Act, 1981 shall be omitted with effect from the 1st day of April, 2002. Section 141 - Omission of section 48 of Act 53 of 1987 Section 48 of the National Housing Bank Act, 1987 shall be omitted with effect from the 1st day of April, 2002. Section 142 - Omission of section 50 of Act 39 of 1989 Section 50 of the Small Industries Development Bank of India Act, 1989.....

Finance Act 2001 Section 138

Title: Amendment of Act 6 of 1898

State: Central

Year: 2001

.....is used in response to any competition organised on or through television, radio, newspapers, magazine or any other media. Book, pattern and sample packets For the first fifty grams or fraction thereof : Rs. 3.00 For every additional fifty grams, or fraction thereof, in excess of fifty grams: Rs. 4.00 Registered newspapers For a weight not exceeding fifty grams : 25 paise For a weight exceeding fifty grams but not exceeding one hundred grams : 50 paise For every additional one hundred grams, or fraction thereof, exceeding one hundred grams : 20 paise In the case of more than one copy of the same issue of a registered newspaper being carried in the same packet- For a weight not exceeding one hundred grams : 50 paise For every additional one hundred grams, or fraction thereof, exceeding one hundred grams : 20 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 not exceeding five hundred grams : Rs.16.00 For every five hundred grams, or fraction thereof, exceeding five hundred grams : Rs.15.00

Finance Act 2001 Schedule I

Title: The First Schedule

State: Central

Year: 2001

..... (4) Notwithstanding anything contained in this rule, no loss which has not been determined by the Assessing Officer under the provisions of these rules or the rules contained in Part IV of the First Schedule to the Finance Act, 1993 (38 of 1993), or of the First Schedule to the Finance Act, 1994 (32 of 1994), or of the First Schedule to the Finance Act, 1995 (22 of 1995), or of the First Schedule to the Finance (No. 2) Act, 1996 (33 of 1996), or of the First Schedule to the Finance Act, 1997 (26 of 1997), or of the First Schedule to the Finance (No. 2) Act, 1998 (21 of 1998), or of the First Schedule to the Finance Act, 1999 (27 of 1999), or of the First Schedule to the Finance Act, 2000 (10 of 2000), shall be set off under sub-rule (1) or, as the case may be, sub-rule (2). Rule 9.--Where the net result of the computation made in accordance with these rules is a loss, the loss so computed shall be ignored and the net agricultural income shall be deemed to be nil. Rule 10.--The provisions of the Income-tax Act relating to procedure for assessment (including the provisions of section 288A relating to rounding off of income) shall, with the necessary modifications, apply in.....

Finance Act 2001 Chapter 3

Title: Direct Taxes

State: Central

Year: 2001

.....consists of a house or part of a house which - (a) is in the occupation of the owner for the 'purposes of his own residence; or (b) cannot actually be occupied by the owner by reason of the fact that owing to his employment, business or profession carried on at any other place, he has to reside at that other place in a building not belonging to him. the annual value of such house or part of the house shall be taken to be nil. (3) The provisions of sub-section (2) shall not apply if- (a) the house or part of the house is actually let during the whole or any part of the previous year; or (b) any other benefit there from is derived by the owner. (4) Where the property referred to in sub-section (2) consists of more than one house (a) the provisions of that sub-section shall apply only in respect of one of such houses, which the assessee may, at his option, specify in this behalf ; (b) the annual value of the house or houses, other than the house in respect of which the assessee has exercised an option under clause (a), shall be determined under sub-section (1) as if such house or houses had been let.". Section 15 - Substitution of new section for section 24.....

Finance Act 2001 Section 59

Title: Amendment of Section 139

State: Central

Year: 2001

In section 139 of the Income-tax Act, for sub-section (1), the following sub-section shall be substituted, namely:- '(1) Every person,- (a) being a company; or (b) being a person other than a company, if his total income or the total income of any other person in respect of which he is assessable under this Act during the previous year exceeded the maximum amount which is not chargeable to income-tax, shall, on or before the due date, furnish a return of his income or the income of such other person during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed : Provided that a person referred to in clause (b), who is not required to furnish a return under this sub-section and residing in such area as may be specified by the Board in this behalf by notification in the Official Gazette, and who at any time during the previous year fulfils anyone of the following conditions, namely :- (i) is in occupation of an immovable property exceeding a specified floor area, whether by way of ownership, tenancy or otherwise, as may be specified by the Board in this behalf; or (ii) is the owner.....

Finance Act 2001 Section 3

Title: Amendment of Section 2

State: Central

Year: 2001

.....shall be inserted with effect from the 1st day of June, 2001, namely :- '(22AA) "document" includes an electronic record as defined in clause (t) of sub-section (1) of section 2 of the Information Technology Act, 2000 (21 of 2000);'; (c) in clause (24), in sub-clause (ix), the following Explanation shall be Inserted with effect from the 1st day of April, 2002, namely :- 'Explanation.-For the purposes of this sub-clause,- (i) "lottery" includes winnings, from prizes awarded to any person by draw of lots or by chance or in any other manner whatsoever, under any scheme or arrangement by whatever name called ; (ii) card game and other game of any sort" includes any game show, an entertainment programme on television or electronic mode, in which people compete to win prizes or any other similar game;'; (d) after clause (28B), the following clause shall be inserted with effect from the 1st day of April, 2002, namely :- '(28BB) "insurer" means an insurer being an Indian insurance company, as defined under clause (7A) of section 2 of the Insurance Act,1938 (4 of 1938), which has been granted a certificate of registration under section 3 of that Act ;'

Finance Act 2001 Section 70

Title: Amendment of Section 194b

State: Central

Year: 2001

In section 194B of the Income-tax Act after the words "crossword puzzle", the words "or card game and other game of any sort" shall be inserted with effect from the 1st day of June, 2001.

Finance Act 2001 Chapter V

Title: Service Tax

State: Central

Year: 2001

.....whether movable or immovable, or of any person, in any manner and includes the services of investigation, detection or verification, of any fact or activity, whether of a personal nature or otherwise, including the services of providing security personnel; (63) "service tax" means tax leviable under the provisions of this Chapter; (64) "ship" means a sea-going vessel and includes a sailing vessel; (65) "shipping line" means any person who owns or charters a ship and includes an enterprise which operates or manages the business of shipping; (66) "sound recording" means recording of sound on a magnetic storage device and editing thereof, in any manner; (67) "sound recording studio or agency" means any commercial concern engaged in the business of rendering any service relating to sound recording; (68) "steamer agent" means any person who undertakes, either directly or indirectly ,- (a) to perform any service in connection with the ship's husbandry or dispatch including the rendering of administrative work related thereto; or (b) to book, advertise or canvass for cargo for or on behalf of a shipping line; or (c) to provide container feeder services for or.....