Bare Act Search Results

Benami Transactions (Prohibition) Act, 1988 Preamble 1

Title: Benami Transactions (Prohibition) Act, 1988

State: Central

Year: 1988

THE BENAMI TRANSACTIONS (PROHIBITION) ACT, 1988 (Act, No. 45 of 1988) [5th September, 1988] PREAMBLE An Act to prohibit benami transactions and the right to recover property held benami for matters connected there with or incidental thereto. be it enacted by Parliament in the Thirty-ninth Year of the Republic of India as follows:--

Benami Transactions (Prohibition) Act, 1988 Section 3

Title: Prohibition of Benami Transactions

State: Central

Year: 1988

(1) No person shall enter into any benami transaction. [(2) Nothing in sub-section (1) shall apply to -- (a) the purchase of property by any person in the name of his wife or unmarried daughter and it shall be presumed, unless the contrary is proved, that the said property had been purchased for the benefit of the wife or the unmarried daughter; (b) the securities held by a-- (i) depository as a registered owner under sub-section (1) of section 10 of the Depositories Act, 1996; (ii) participant as an agent of a depository. Explanation.--The expressions "depository" and "Participants" shall have the meanings respectively assigned to them in clauses (e) and (g) of sub-section (1) of section 2 of the Depositories Act, 1996.] (3) Whoever enters into any benami transaction shall be punishable with imprisonment for a term which may extend to three years or with fine or with both. (4) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974) an offence under this section shall be non-cognizable and bailable.

Benami Transactions (Prohibition) Act, 1988 Complete Act

Title: Benami Transactions (Prohibition) Act, 1988

State: Central

Year: 1988

Preamble1 - BENAMI TRANSACTIONS (PROHIBITION) ACT, 1988 Section1 - Short title, extent and commencement Section2 - Definitions Section3 - Prohibition of benami transactions Section4 - Prohibition of the right to recover property held benami Section5 - Property held benami liable to acquisition Section6 - Act not to apply in certain cases Section7 - Repeal of provisions of certain Acts Section8 - Power to make rules Section9 - Repeal and saving

Finance (No. 2) Act, 2004 Chapter 7

Title: Securities Transaction Tax

State: Central

Year: 2004

.....Boards of Revenue Act, 1963(54 of 1963); (4) "derivative" has the meaning assigned to it in clause (aa) of section 2 of the Securities Contracts (Regulation) Act, 1956(42 of 1956); (5) "equity oriented fund" means a fund-- (i) where the investible funds are invested by way of equity shares in domestic companies to the extent of more than 1 [sixty-five per cent]. of the total proceeds of such fund; and (ii) which has been set up under a scheme of a Mutual Fund: Provided that the percentage of equity share holding of the fund shall be computed with reference to the annual average of the monthly averages of the opening and closing figures; (6) "Mutual Fund" means a Mutual Fund specified under clause (23D) of section 10 of the Income-tax Act, 1961(43 of 1961); (7) "option in securities" has the meaning assigned to it in clause (d) of section 2 of the Securities Contracts (Regulation) Act, 1956(42 of 1956); (8) "option premium" means the premium payable by the purchaser of an "option in securities" at the time of such purchase; (9) "prescribed" means prescribed by rules made by the Board under this Chapter; (10) "recognised stock exchange" shall have the.....

Finance Act 2005 Chapter 7

Title: Banking Cash Transaction Tax

State: Central

Year: 2005

.....1980), or any other bank being a bank included in the Second Schedule to the Reserve Bank of India Act, 1934(2 of 1934); (8) "taxable banking transaction" means-- (a) a transaction, being withdrawal of cash (by whatever made) on any single day from an account (other than a savings bank account) maintained with any scheduled bank, exceeding. - (i) 2[twenty-five thousand rupees], in case such withdrawal is from the account maintained by any individual or Hindu undivided family; (ii)one lakh rupees, in case such withdrawal is from the account maintained by a person other than any individual or Hindu undivided family; or (b) a transaction, being receipt of cash from any scheduled bank on any single day on encashment of one or more term deposits, whether on maturity or otherwise, from that bank, exceeding,- (i) 2[twenty-five thousand rupees], in case such term deposit or deposits are in the name of any individual or Hindu undivided family: (ii) one lakh rupees, in case such term deposit or deposits are by any person other than any individual or Hindu undivided family ; or (c) a transaction, being receipt of cash from any scheduled bank exceeding ten thousand rupees on.....

Finance Act 2008 Chapter VII

Title: Commodities Transaction Tax

State: Central

Year: 2008

.....derivative, traded in recognised associations; (6) words and expressions used but not defined in this Chapter and defined in the Forward Contracts (Regulations) Act 1952(74 of 1952), the Income-tax Act, 1961(43 of 1961), or the rules made thereunder, shall have the meanings respectively assigned to them in those Acts. Section 104 - Charge of commodities transaction tax On and from the date of commencement of this Chapter, there shall be charged a commodities transaction tax in respect of every taxable commodities transaction specified in column (2) of the Table below, at the rates specified in the corresponding entry in column (3) of the said Table, on the value of such transaction and such tax shall be payable by the seller or the purchaser, as the case may be, specified in the corresponding entry in column (4) of the said Table: Table Sl. No. Taxable commodities transaction Rate Payable by (1) (2) (3) (4) 1. Sale of an option in goods or an option in commodity derivative 0.017 per cent. Seller 2. Sale of an option in goods or an.....

Reserve Bank of India Act, 1934 (2 of 1934) Section 17

Title: Business Which the Bank May Transact

State: Central

Year: 1934

..... (10) the sale realisation of all property, whether movable or immovable, which may in any way come into the possession of the Bank in satisfaction, or part satisfaction, of any of its claims; (11) the acting as agent for 1 [***] the 2 [Central Government] 80 [or any 5 [State] Government 81 [***] or any local authority 82 [***] 83 [or the Industrial Finance Corporation of India 84 [***] 11 [or any other body corporate which is established or constituted by or under any other law] 10 [or the Government of any such country outside India or 85 [any such person or authority] is may be approved in this behalf by the Central Government] in the transaction of any of the following kinds of business, namely:- (a) the purchase and sale of gold or silver 86 [or foreign exchange]; (b) the purchase, sale, transfer and custody of bills of exchange, securities or shares in any company; (c) the collection of the proceeds, whether principal, interest or dividends, of any securities or shares; (d) the remittance of such proceeds, at the risk of the principal, by bills of exchange payable either in India or elsewhere; (e) the management of public debt; 87 [(f) 88 [***] the.....

Electricity Supply Undertakings (Acquisition) Act, 1974 Section 13

Title: Transaction Resulting in Dissipation of Assets

State: Karnataka

Year: 1974

.....be made parties to the application. (3) Where the Tribunal is satisfied that the transaction in respect of which an application is made is a transaction to which this section applies, then, unless, the Tribunal is also satisfied that the transaction was a proper transaction made in the ordinary course of business, regard being had to the circumstances at the time, and was not in any way connected with any provisions made by this Act, or in anticipation of the making of any such provision, the Tribunal shall make such order against any of the parties to the application as it thinks just having regard to the extent to which the parties were respectively responsible for the transaction or benefited from it and all the circumstances of the case. (4) Where an application is made to the Tribunal under this section in respect of any transaction and the application is determined in favour of the Government, the Tribunal shall have exclusive jurisdiction to determine any claims outstanding in respect of the transaction. On any such application, the Tribunal may order that Government deduct from the amount payable to the company under this Act, such amount as it may consider to be the.....

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.....

Usurious Loans Act, 1918 Section 3

Title: Reopening of Transactions

State: Central

Year: 1918

.....This section shall apply to any suit, whatever its form may be, if such suit is substantially one for the recovery of a loan or for the enforcement of any agreement or security in respect of a loan {Ins.by Act 28 of 1926, s, 3.}[or for the redemption of any such security]. (4) Nothing in this section shall affect the rights of any transferee for value who satisfies the Court that the transfer to him was bona fide, and that he had at the time of such transfer no notice of any fact which would have entitled the debtor as against the lender to relief under this section. For the purposes of this sub-section, the word " notice " shall have the same meaning as is ascribed to it in section 4 of the Transfer of Property Act, 1882. (5) Nothing in this section shall be construed as derogating from the existing powers or jurisdiction of any Court.