Bare Act Search Results

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 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 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.....

Finance Act 2001 Section 137

Title: Amendment of Act 32 of 1994

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.....

The Jharkhand Panchayat Raj Act, 2001 Complete Act

State: Jharkhand

Year: 2001

.....of the Patna Municipal Corporation Act, 1951 (Bihar Act XIII of 1952); Bihar & Orissa Municipal Act, 1922 (Bihar Act VII of 1922) or Cantonment Act, 1924 (Act II of 1924) apply. (iii) It shall come into force on such date as the Jharkhand Government may, by notification in the official gazette, appoint and different dates may be appointed for different areas and for different provisions. Section 2 - Definitions In this Act unless there is anything repugnant in the context : (i) "Population" means the population as ascertained at the last preceding census of which the relevant figures have been published; (ii) "Village" means a village specified by the State Government, by notification in the official gazette to be a village for the purposes of this Act, and includes a village or a group of villages/ Tolas so specified. The word "village" includes a revenue village; but in the scheduled area, a 'village' means any such village in The scheduled area in which there will ordinarily be a residence or a group of residences, or a tola or a group of tolas, comprising such community as manages its activities according to its customs and usages; (iii) "Gram Sabha" means a.....

Finance Act 2001 Section 29

Title: Amendment of Section 47

State: Central

Year: 2001

.....course of corporatisation of a recognised stock exchange in India as a result of which an association of persons or body of individuals is succeeded by such company:"; (ii) in the proviso,- (A) in clause (a), after the words "liabilities of the firms" the words "or of the association of persons or body of individuals" shall be inserted; (B) after clause (d), the following clause shall be inserted namely :- "(e) the corporatisation of a recognised stock exchange in India is carried out in accordance with a scheme for corporatisation which is approved by the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992).".

The Haryana Murrah Buffalo and Other Milch Animal Breed (Presentation and Development of Animal Husbandry and Dairy Development Sector) Act, 2001 Complete Act

State: Haryana

Year: 2001

.....of the Government or the Board in respect of anything which is in good faith done or intended to be done in pursuance of the provisions of this Act, rules or regulations made or any directions issued thereunder. Power to make regulations. 15. The Board may, with the previous approval of the Government, make regulations not inconsistent with the provisions of this Act and the rules regulations not inconsistent with the provisions of this Act and the rules framed thereunder for the purpose of giving effect to the provisions of this Act. Power to remove difficulties. 16. If any difficulty arises in giving effect to the provisions of this Act or by reasons of anything contained in this Act, the Government may, by order, not inconsistent with the provisions of this Act, remove the difficulty. Power to make rules. 17. (1) The Government may, by notification in the Official Gazette, make rules to carry out the purposes of this Act. (2) In particular and without prejudice to the generality of the foregoing powers, such rules may provide for, - (a) the powers, functions, procedure of conduct of business of the Board and the procedure to generate, maintain and operate.....

The Indian Stamp (Orissa Amendment) Act, 2001 Complete Act

State: Orissa

Year: 2001

.....(Orissa Amendment) Act, 2001. 2. Amendment of section 4. In section 4 of the Indian Stamp Act, 1899 (hereinafter referred to as the principal Act) in sub-section (1), for the words "one rupee and eight annas", the words "ten rupees" shall be substituted. 3. Amendment of section 6. In the proviso to section 6 of the principal Act, for the words "one rupee and eight annas", the words "ten rupees" shall be substituted. 4. Amendment of section 31. In section 31 of the principal Act, in sub-section (1), for the words "not exceeding five rupees" and "not less than fifty naye paise", the words "not exceeding twenty rupees" and "not less than five rupees", shall respectively be substituted. 5. Amendment of section 47-A. In section 47-A of the principal Act, in sub-section (2-a), for the words "two years", the words "three years" shall be substituted. 6.Amendment of section 73. For section 73 of the principal Act, the following section shall be sub stituted, namely:" "73. (1) Every public officer or any person having in his custody any registers, books, records, papers, documents or proceedings, the inspections whereof may tend to secure any duty, or to prove or.....

Finance Act 2001 Section 26

Title: Amendment of Section 43

State: Central

Year: 2001

..... "Explanation 12.- Where any capital asset is acquired by the assessee under a scheme for corporatisation of a recognised stock exchange in India, approved by the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the actual cost of the asset shall be deemed to be the amount which would have been regarded as actual cost had there been no such corporatisation."; (b) in clause(6), after Explanation 4, the following Explanation shall be inserted, namely :- "Explanation 5.- Where in a previous year, any asset forming part of a block of assets is transferred by a recognised stock exchange in India to a company under a scheme for corporatisation approved by the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the written down value of the block of assets in the case of such company shall be the written down value of the transferred assets immediately before such transfer.".

Finance Act 2001 Section 13

Title: Amendment of Section 17

State: Central

Year: 2001

In section 17 of the Income-tax Act,- (a) in clause (2),- (i) in sub-clause (iii),- (A) in item (c), for the words "twenty-four thousand rupees", the words "fifty thousand rupees" shall be substituted with effect from the 1st day of April, 2002 ; (B) in the proviso, for the words "the Employees' Stock Option Plan or Scheme of the said company", the words "any Employees' Stock Option Plan or Scheme of the company offered to such employees in accordance with the guidelines issued in this behalf by the Central Government" shall be substituted ; (ii) after sub-clause (v), the following sub-clause shall be inserted with effect from the 1st day of April, 2002, namely ;- (vi) the value of any other fringe benefit or amenity as may be prescribed." ; (b) in clause (3), after sub-clause (ii) and the Explanation relating thereto the following sub-clause shall be inserted with effect from the 1st day of April, 2002, namely :- (iii) any amount due to or received, whether in lump sum or otherwise, by any assessee from any person- (A) before his joining any employment with that person; or (B) after cessation of his employment with that person.".