Title : Amendment of Section 10
State : Central
Year : 2003
In section 10 of the Income-tax Act, 1961(43 of 1961) (hereafter in this Chapter referred to as the Income-tax Act), in clause (15),-- (A) after sub-clause (iiia), the following sub-clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2001, namely:-- "(iiib) interest payable to the Nordic Investment Bank, being a multilateral financial institution constituted by the Governments of Denmark, Finland, Iceland, Norway and Sweden, on a loan advanced by it to a project approved by the Central Government in terms of the Memorandum of Understanding entered into by the Central Government with that Bank on the 25th day of November, 1986;"; (B) in sub-clause (iv),-- (a) in item (c), the existing Explanation shall be numbered as..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 230
State : Central
Year : 2003
In section 230 of the Income-tax Act, in sub-section (2), after the word, brackets and figure "sub-section (1)", the words, brackets, figure and letter "or the first proviso to sub-section (1A)" shall be inserted and shall be deemed to have been inserted with effect from the 1st day of June, 2003. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 272a
State : Central
Year : 2003
In section 272A of the Income-tax Act, in sub-section (2), after clause (i), the following clause shall be inserted, namely:-- "(j) to deliver or cause to be delivered in due time a copy of the declaration referred to in sub-section (1A) of section 206C,". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 34a
State : Central
Year : 2003
In section 34A of the Wealth-tax Act,-- (a) in sub-section (3), for the words "eight per cent.", the words "six per cent." shall be substituted; (b) in sub-section (4B), in clause (a), for the words "two-third per cent.", the words "one-half per cent." shall be substituted. View Complete Act List Judgments citing this sectionTitle : Amendment of Section 14 of Act 35 of 1987
State : Central
Year : 2003
In section 14 of the Expenditure-tax Act, 1987(35 of 1987), for the words "one and one-fourth per cent.", the words "one per cent." shall be substituted.op View Complete Act List Judgments citing this sectionTitle : Substitution of New Section for Section 19
State : Central
Year : 2007
For section 19 of the State Bank of India (Subsidiary Banks) Act, the following section shall be substituted, namely:-- "19. Restriction on Voting rights-No shareholder, other than the State Bank, shall be entitled to exercise voting rights in respect of any shares held by him in excess of ten per cent. of the issued capital of the subsidiary bank concerned: Provided that the shareholder holding any preference share capital in the subsidiary bank shall, in respect of such capital, have a right to vote only on resolutions placed before such subsidiary bank which directly affect the rights attached to his preference shares: Provided further that no preference shareholder shall be entitled to exercise voting rights in respect of preference shares held by him in excess of ten per..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 21
State : Central
Year : 2007
Section 21 of the State Bank of India (Subsidiary Banks) Act shall be numbered as sub-section (1) thereof and after sub-section (1) as so numbered, the following sub-sections shall be inserted, namely:-- "(2) Notwithstanding anything contained in sub-section (1), it shall be lawful for a subsidiary bank to keep the register of shareholders in computer floppies or diskettes or any other electronic form subject to such safeguards as may be prescribed. (3) Notwithstanding anything contained in the Indian Evidence Act, 1872 (1 of 1872), a copy of, or extract from, the register of shareholders, certified to be a true copy under the hand of any officer of the subsidiary bank authorised in this behalf shall in all legal proceedings, be admissible in evidence.". View Complete Act List Judgments citing this sectionTitle : Amendment of Section 34
State : Central
Year : 2007
In section 34 of the State Bank of India (Subsidiary Banks) Act,-- (a) for sub-section (1), the following sub-section shall be substituted, namely:-- "(1) The Board of Directors of a subsidiary bank shall meet at such time and place and shall observe such rules of procedure in regard to the transaction of business at its meetings as may be prescribed; and the meeting of the Board of Directors may be held by participation of the directors of the Board through video-conferencing or such other electronic means, as may be prescribed, which are capable of recording and recognising the participation of the directors and the proceedings of such meetings are capable of being recorded and stored: Provided that the Central Government may in consultation with the Reserve Bank, by a..... View Complete Act List Judgments citing this sectionTitle : Insertion of New Section 40a
State : Central
Year : 2007
After section 40 of the State Bank of India (Subsidiary Banks) Act, the following section shall be inserted, namely:-- '40A. Transfer of unpaid or unclaimed dividend to unpaid dividend account-(1) Where, after the commencement of the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007, a dividend has been declared by the subsidiary bank but has not been paid, or claimed, within thirty days from the date of declaration, to or by any shareholder entitled to the payment of the dividend, the subsidiary bank shall, within seven days from the date of the expiry of such period of thirty days, transfer the total amount of dividend which remains unpaid, or unclaimed within the said period of thirty days, to a special account to be called "unpaid dividend account..... View Complete Act List Judgments citing this sectionTitle : Amendment of Section 12a
State : Central
Year : 2006
In section 12A of the Income-tax Act, in clause (b), for the words and figures "the provisions of section 11 and section 12 exceeds fifty-thousand rupees in any previous year", the words and figures "the provisions of section 11 and section 12 exceeds the maximum amount which is not chargeable to income-tax in any previous year" shall be substituted with effect from the 1st day of April, 2006. View Complete Act List Judgments citing this section