Bare Act Search Results

Finance Act, 1995 Chapter II

Title: Rates of Income-tax

State: Central

Year: 1995

.....be the income-tax in respect of the total income. (3) In cases to which the provisions of Chapter XII or Chapter XII-A or sub-section (1A) of section 161 or section 164 or section 164A or section 167B of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as Income-tax Act) apply, the tax chargeable shall be determined as provided in that Chapter or that section, and with reference to the rates imposed by sub-section (1) or the rates as specified in that Chapter or section, as the case may be : Provided that the amount of income-tax computed in accordance with the provisions of section 112 shall be increased in the case of a domestic company by a surcharge as provided in Paragraph E of Part I of the First Schedule : Provided further that in respect of any income chargeable to tax under section 115B, or in the case of a domestic company having a total income exceeding seventy-five thousand rupees, under section 115BB, of the Income-tax Act, the income-tax computed shall be increased by a surcharge calculated at the rate of fifteen per cent. of such income-tax. (4) In cases in which tax has to be deducted under sections 193, 194, 194A, 194B, 194BB, 194D and.....

Finance Act, 1995 Section 2

Title: Income-tax

State: Central

Year: 1995

.....be the income-tax in respect of the total income. (3) In cases to which the provisions of Chapter XII or Chapter XII-A or sub-section (1A) of section 161 or section 164 or section 164A or section 167B of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as Income-tax Act) apply, the tax chargeable shall be determined as provided in that Chapter or that section, and with reference to the rates imposed by sub-section (1) or the rates as specified in that Chapter or section, as the case may be : Provided that the amount of income-tax computed in accordance with the provisions of section 112 shall be increased in the case of a domestic company by a surcharge as provided in Paragraph E of Part I of the First Schedule : Provided further that in respect of any income chargeable to tax under section 115B, or in the case of a domestic company having a total income exceeding seventy-five thousand rupees, under section 115BB, of the Income-tax Act, the income-tax computed shall be increased by a surcharge calculated at the rate of fifteen per cent. of such income-tax. (4) In cases in which tax has to be deducted under sections 193, 194, 194A, 194B, 194BB, 194D and.....

The Chhattisgarh Vritti Kar Adhiniyam, 1995 Complete Act

State: Chattisgarh

Year: 1995

.....meaning as assigned to it under Section 17 of the Income Tax Act, 1961 (No. 43 of 1961) after deductions as permissible under Section 16 of that Act except tax payable under this Act;] [(h) Salary or Wages includes pay dearness allowance and all other remunerations including allowances received by any person on a regular basis whether payable in cash or kind and also includes perquisites and profits in lieu of salary as defined in Section 17 of the Income Tax Act 1961 (No. 43 of 1961) but does not include bonus in any form and on any account gratuity and pension] (i) Schedule means the Schedule appended to this Act; (j) Tax means tax payable under this Act; (k) Year means the financial year. Section 3 - Levy and collection of tax (1) Subject to the provisions of Article 276 of the Constitution of India, and of this Act there shall be levied and collected tax on professions, trades, callings and employments. (2) Every person who carries on a trade either himself or by an agent or representative or who follows a profession or calling other than agriculture or who is in employment either wholly or in part in Chhattisgarh and who falls under one or the other classes.....

The Kerala General Sales Tax (Amendment) Act, 1995 [1] Complete Act

State: Kerala

Year: 1995

..... 50 5 Dyeing and Textile Printing contracts 50 6 Photography and Printing contracts 30 7 Sculptural contract or contract relating to arts 70 8 Refrigeration, air conditioning or other machinery, rolling shutters, cranes, installation contracts 15 9 All other contracts 30 4. Validation."(1) Notwithstanding any judgement, decree or order of any court, tribunal or other authority, any assessment, levy or collection of any tax on the turnover of a dealer in respect of transfer of property in the execution of works contract, during the period commencing on and from the 1st day of April, 1984 and ending with the 31st day of March, 1991 made or purporting to have been made under the principal Act before the 18th day of May, 1995, shall be deemed to be as valid and effective as if such assessment, levy or collection had been made under the principal Act as amended by this Act, and accordingly" (a) all acts, proceedings or things done or taken by any officer or authority in connection with the assessment, levy or collection of such tax shall, for all purposes, be deemed to be, and to have always.....

Finance Act, 1995 Complete Act

State: Central

Year: 1995

.....by virtue of holding a capital asset, being a share or any other security within the meaning of clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (hereinafter in this clause referred to as the financial asset), the assessee" (A) becomes entitled to subscribe to any additional financial asset; or (B) is allotted any additional financial asset without any payment. then, subject to the provisions of sub-clauses (i) and (ii) of clause (b)"; (ii) after sub-clause (iii), the following sub-clause shall be inserted, namely :" '(iiia) in relation to the financial asset allotted to the assessee without any payment and on the basis of holding of any other financial asset, shall be taken to be nil in the case of such assessee"; SECTION 15: INSERTION OF NEW SECTION 80DDA After section 80DD of the Income-tax Act, the following section shall be inserted, with effect from the 1st day of April, 1996, namely :" '80DDA. Deduction in respect of deposit made for maintenance of handicapped dependant." (1) In computing the total income of an assessee who is resident in India, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and.....

The Punjab Apartment Ownership Act, 1995 Complete Act

State: Punjab

Year: 1995

.....to the exclusion of the other apartments ; (r) "local authority" means a corporation constituted under section 4 of the Punjab Municipal Corporation Act, 1976 (Punjab Act No. 42 of 1976), a committee constituted under section 12 of the Punjab Municipal Act, 1911 (Punjab Act No. 3 of 1911) or any other authority notified by the State Government for the purposes of this Act ; (s) "majority" or "majority of apartment owners" means the apartment owners with fifty one per cent or more the votes in accordance with the percentage assigned in the conveyance deeds of apartments for voting purposes ; (t) "person", includes company, firm, co-operative society, joint family and an incorporated body of persons ; (u) "prescribed" means prescribed by rules made under this Act ; (v) "promoter" means the person who constructs or causes to be constructed a building consisting of apartments or who converts an existing building or a part thereof into apartments for the purpose of selling all or some of the apartments to other persons and includes his assigns and where the person who constructs or converts a building and the person who sells are different persons, the term includes both of them ; .....

Finance Act, 1995 Section 36

Title: Insertion of New Sections 194j and 194k

State: Central

Year: 1995

.....of section 44AA or of this section; (b) "fees for technical services" shall have the same meaning as in Explanation 2 to clause (vii) of sub-section (1) of section 9; (c) where any sum referred to in sub-section (1) is credited to any account, whether called "Suspense account" or by any other name, in the books of account of the person liable to pay such sum, such crediting shall be deemed to be credit of such sum to the account of the payee and the provisions of this section shall apply accordingly. 194K. Income In Respect Of Units. - (1) Where Any Income Is Payable To A Resident In Respect Of Units Of A Mutual Fund Specified Under Clause (23d) Of Section 10 or of the Unit Trust of India the person responsible for making the payment shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rate of, - (a) twenty per cent., if the payee is a company, and (b) fifteen per cent. in the case of other payees. (2) The provisions of sub-section (1) shall not apply - (i) where the amount of such income or,.....

Wakf Act, 1995 Chapter V

Title: Registration of Wakfs

State: Central

Year: 1995

.....matter, and after giving a reasonable opportunity to the Executive Officer or a member of his staff of being heard, confirm, modify or reverse the order. Section 39 - Powers of Board in relation to wakfs which have ceased to exist (1) The Board shall, if it is satisfied that the objects or any part thereof, of a wakf have ceased to exist, whether such cesser took place before or after the commencement of this Act, cause an inquiry to be held by the Chief Executive Officer, in the prescribed manner, to ascertain the properties and funds pertaining to such wakf. (2) On the receipt of the report of inquiry of the Chief Executive Officer, the Board shall pass an order (a) specifying the property and funds of such wakfs; (b) directing that any property or funds pertaining to such wakf which have been recovered shall be applied or utilised for the renovation of any wakf property and where there is no need for making any such renovation or where utilisation of the funds for such renovation is not possible, be appropriated, to any of the purposes specific in sub-clause (iii) of clause (e) of sub-section (2) of section 32. (3) The Board may, if it has reason to believe that.....

Wakf Act, 1995 Section 39

Title: Powers of Board in Relation to Wakfs Which Have Ceased to Exist

State: Central

Year: 1995

.....of the funds for such renovation is not possible, be appropriated, to any of the purposes specific in sub-clause (iii) of clause (e) of sub-section (2) of section 32. (3) The Board may, if it has reason to believe that any building or other place which was being used for religious purpose or instruction or for chanty has, whether before or after the commencement of this Act, ceased to be used for that purpose make an application to the Tribunal for an order directing the recovery of possession of such building or other place. (4) The Tribunal may, if it is satisfied, after making such inquiry as it may think fit, that such building or other place (a) is wakf property; (b) has not been acquired under any law for the time being in force relating to acquisition of land or is not under any process of acquisition under any such law, or has not vested in the State Government under any law for the time being in force relating to land reforms; and (c) is not in the occupation of any person who has been authorised by or under any law for the time being in force to occupy such building or other place, make an order (i) directing the recovery of such building or place.....

Finance Act, 1995 Chapter III

Title: Direct Taxes

State: Central

Year: 1995

.....by virtue of holding a capital asset, being a share or any other security, within the meaning of clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956 (hereafter in this clause referred to as the financial asset), the assessee - (A) becomes entitled to subscribe to any additional financial asset; or (B) is allotted any additional financial asset without any payment, then, subject to the provisions of sub-clauses (i) and (ii) of clause (b)"; (ii) after sub-clause (iii), the following sub-clause shall be inserted, namely :- "(iiia) in relation to the financial asset allotted to the assessee without any payment and on the basis of holding of any other financial asset, shall be taken to be nil in the case of such assessee;". Section 15 - Insertion of New Section 80DDA After section 80DD of the Income-tax Act, the following section shall be inserted, with effect from the 1st day of April, 1996, namely :- '80DDA. Deduction in respect of deposit made for maintenance of handicapped dependant. - (1) In computing the total income of an assessee who is resident in India, being an individual or a Hindu undivided family, there shall be.....