Title : Taxation Laws (Amendment) Act, 2005
State : Central
Year : 2005
Preamble1 - TAXATION LAWS (AMENDMENT) ACT, 2005 Chapter I Section1 - Short title and commencement Chapter II Section2 - Amendment of section 10 Section3 - Amendment of section 28 Section4 - Amendment of section 80-HHC Section5 - Amendment of section 80-IA Section6 - Amendment of section 115W Chapter III Section7 - Amendment of section 94 Section8 - Insertion of new section 112A. Chapter IV Section9 - Repeal and saving. List Judgments citing this sectionTitle : Short Title and Commencement
State : Central
Year : 2005
(1) This Act may be called the Taxation Laws (Amendment) Act, 2005. (2) It shall be deemed to have come into force on the 31st day of October, 2005. View Complete Act List Judgments citing this sectionTitle : Repeal and Saving.
State : Central
Year : 2005
(1) The Taxation Laws (Amendment) Ordinance, 2005(Ord. 4 of 2005) is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the Income-tax Act, 1961(43 of 1961) and the Finance Act, 2005(18 of 2005), as amended by the said Ordinance, shall be deemed to have been done or taken under the corresponding provisions of those Acts, as amended by this Act. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 80-ia
State : Central
Year : 2005
In section 80-IA of the Income-tax Act, in sub-section (4), after clause (iv), the following clause shall be inserted with effect from the 1st day of April, 2006, namely:-- "(v) an undertaking owned by an Indian company and set up for reconstruction or revival of a power generating plant, if-- (a) such Indian company is formed before the 30th day of November, 2005 with majority equity participation by public sector companies for the purposes of enforcing the security interest of the lenders to the company owning the power generating plant and such Indian company is notified before the 31st day of December, 2005 by the Central Government for the purposes of this clause; (b) such undertaking begins to generate or transmit or distribute power before the 31st day of March, 2007.". ..... View Complete Act List Judgments citing this sectionTitle : Insertion of New Section 112a.
State : Central
Year : 2005
In Chapter VII of the Finance Act, after section 112, the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2005, namely:-- "112A. This Chapter not to apply in certain cases.-- The provisions of this Chapter shall not apply to, or in relation to, the taxable banking transactions entered into on or after the 1st day of June, 2005,-- (a) between a scheduled bank and a banking company or a co-operative bank; or (b) between a scheduled bank and another scheduled bank.". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 10
State : Central
Year : 2005
In section 10 of the Income-tax Act, 1961(43 of 1961) (hereafter in this Chapter referred to as the Income-tax Act), with effect from the 1st day of April, 2006,-- (a) in clause (6BB), for the words, figures and letters "or entered into after the 30th day of September, 2005 and approved by the Central Government in this behalf, the words, figures and letters "or entered into after the 31st day of March, 2006 and approved by the Central Government in this behalf shall be substituted; (b) in clause (15A), in the proviso, for the words, figures and letters "the 1st day of October, 2005", the words, figures and letters "the 1st day of April, 2006" shall be substituted; (c) after clause (38), the following clauses shall be inserted, namely:-- '(39) any specified income, arising from..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 80-hhc
State : Central
Year : 2005
In section 80-HHC of the Income-tax Act,-- (i) in sub-section (3),-- (A) after the proviso, the following provisos shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1998, namely:-- 'Provided further that in the case of an assessee having export turnover not exceeding rupees ten crores during the previous year, the profits computed under clause (a) or clause (b) or clause (c) of this subsection or after giving effect to the first proviso, as the case may be, shall be further increased by the amount which bears to ninety per cent. of any sum referred to in clause (iiid) or clause (iiie), as the case may be, of section 28, the same proportion as the export turnover bears to the total turnover of the business carried on by the assessee:..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 94
State : Central
Year : 2005
In Chapter VII of the Finance Act, 2005(18 of 2005) (hereafter in this Chapter referred to as the Finance Act), in section 94, with effect from the 1st day of June. 2005,-- (a) after clause (3), the following clause shall be inserted and shall be deemed to have been inserted, namely:-- '(3A) "banking company" means a company to which the Banking Regulation Act, 1949(10 of 1949) applies and includes any bank referred to in section 51 of that Act;'; (b) after clause (4), the following clause shall be inserted and shall be deemed to have been inserted, namely:-- '(4A) "co-operative bank" shall have the meaning assigned to it in Part V of the Banking Regulation Act, 1949(10 of 1949);'. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 115w
State : Central
Year : 2005
In section 115W of the Income-tax Act, in clause (a), with effect from the 1st day of April, 2006 -- (a) for sub-clause (iii), the following sub-clause shall be substituted, namely:-- "(iii) an association of persons or a body of individuals, whether incorporated or not;"; (b) after sub-clause (v), the following proviso shall be inserted, namely:-- "Provided that any person eligible for exemption under clause (23C) of section 10 or registered under section 12AA or a political party registered under section 29A of the Representation of the People Act, 1951(43 of 1951) shall not be deemed to be an employer for the purposes of this Chapter;". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 28
State : Central
Year : 2005
In section 28 of the Income-tax Act,-- (a) after clause (iiic), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1998, namely:-- "(iiid) any profit on the transfer of the Duty Entitlement Pass Book Scheme, being the Duty Remission Scheme under the export and import policy formulated and announced under section 5 of the Foreign Trade (Development and Regulation) Act, 1992(22 of 1992);"; (b) after clause (iiid) as so inserted, the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2001, namely:-- "(iiie) any profit on the transfer of the Duty Free Replenishment Certificate, being the Duty Remission Scheme under the export and import policy..... View Complete Act List Judgments citing this section