Bare Act Search Results

Finance Act 2001 Section 49

Title: Substitution of New Sections for Section 92

State: Central

Year: 2001

.....length price of such benefit, service or facility, as the case may be. 92A. Meaning of associated enterprise.- (1) For the purposes of this section and sections 92, 92B, 92C, 92D, 92E and 92F, "associated enterprise", in relation to another enterprise, means an enterprise- (a) which participates, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise; or (b) in respect of which one or more persons who participate, directly or indirectly, or through one or more intermediaries, in its management or control or capital, are the same persons who participate, directly or indirectly, or through one or more intermediaries, in the management or control or capital of the other enterprise. (2) Two enterprises shall be deemed to be associated enterprises if, at any time during the previous year,- (a) one enterprise holds, directly or indirectly, shares carrying not less than twenty-six per cent. of the voting. power in the other enterprise ; or (b) any person or enterprise holds, directly or indirectly, shares carrying not less than twenty-six per cent. of the voting power in each of such enterprises;.....

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 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.....

Protection of Plant Varieties and Farmers-rights Act, 2001 Section 4

Title: Meetings of Authority

State: Central

Year: 2001

.....of business at its meetings [including the quorum at its meetings and the transaction of business of its Standing Committee appointed under subsection (7) of section 3] as may be prescribed. (2) The Chairperson of the Authority shall preside at the meetings of the Authority. (3) If, for any reason the Chairperson is unable to attend any meeting of the Authority, any member of the Authority chosen by the members present shall preside at the meeting. (4) All questions which come before any meeting of the Authority shall be decided by a majority of the votes of the members of the Authority present and voting and in the event of equality of votes, the Chairperson of the Authority or in his absence, the person presiding shall have and exercise a second or casting vote. (5) Every member who is in any way, whether directly, indirectly or personally, concerned or interested in a matter to be decided at the meeting shall disclose the nature of his concern or interest and after such disclosure, the member, concerned or interested, shall not attend that meeting. (6) No act or proceeding of the Authority shall be invalid merely by reason of-- (a) any vacancy in, or any.....

Finance Act 2001 Section 86

Title: Amendment of Section 271

State: Central

Year: 2001

.....the 1st day of April, 2002, namely:- "Explanation 7.- Where in the case of an assessee who has entered in to an international transaction defined in section 92B, any amount is added or disallowed in computing the total income under sub-section (4) of section 92C, then, the amount so added or disallowed shall, for the purposes of clause (c) of this sub-section, be deemed to represent income in respect of which particulars have been concealed or inaccurate particular have been furnished, unless the assessee proves to the satisfaction of the Assessing Officer or the Commissioner (Appeals) that the price charged or paid in such transaction was computed in accordance with the provisions contained in section 92C and in the manner prescribed under that section, in good faith and with due diligence.".

Finance Act 2001 Section 88

Title: Insertion of New Section 271aa

State: Central

Year: 2001

After section 271A of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2002, namely :- "271AA. Penalty for failure to keep and maintain information and document in respect of international transaction.-Without prejudice to the provisions of section 271, if any person fails to keep and maintain any such information and document as required by sub-section (1) or sub-section (2) of section 92D, the Assessing Officer or Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum equal to two per cent. of the value of each international transaction entered into by such person.".

Finance Act 2001 Section 91

Title: Insertion of New Section 271g

State: Central

Year: 2001

After section 271F of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2002, namely :- "271G. Penalty for failure to furnish information or document under section 92D.-If any person who has entered into an international transaction fails to furnish any such information or document as required by sub-section (3) of section 92D, the Assessing Officer or the Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum equal to two per cent. of the value of the international transaction for each such failure.".

Advocates Welfare Fund Act, 2001 Chapter III

Title: Establishment of Trustee Committee

State: Central

Year: 2001

.....of Fund The Fund shall vest in, and be held and applied by, the Trustee Committee subject to the provisions, and for the purposes, of this Act. Section 11 - Functions of Trustee Committee (1) Subject to the provisions of this Act and any other law for the time being in force, the Trustee Committee shall administer the Fund. (2) Without prejudice to the generality of the provisions contained in sub-section (7), the Trustee Committee shall-- (a) hold the amounts and assets belonging to the Fund in trust; (b) receive applications for admission or re-admission as members to the Fund, and dispose of such applications within ninety days from the date of receipt thereof; (c) receive applications from the members of the Fund, their nominees or legal heirs, as the case may be, for payment out of the Fund, conduct such enquiry as it deems necessary and dispose of the applications within five months from the date of receipt thereof; (d) record in the minutes book of the Trustee Committee, its decisions on the applications; (e) pay to the members of the Fund or their nominees or legal heirs, as the case may be, the amounts at the rates specified in Schedule I; (f).....

Indian Council of World Affairs Act, 2001 Section 12

Title: Meetings of Council

State: Central

Year: 2001

The Council shall hold its first meeting at such time and place as may be appointed by the Central Government and shall observe such rules of procedure in regard to the transaction of business at the first meeting as may be laid down by that Government; and thereafter the Council shall meet at such times and places and observe such rules of procedure in regard to the transaction of business at its meetings as may be prescribed by regulations

Companies (Passing of Resolution by Postal Ballot) Rules, 2001 Complete Act

State: Central

Year: 2001

.....Articles of Associations in relation to deletion or insertion of provisions defining company; (c) buy-back of own shares by the company under sub-section (1) of section 77A; (d) issue of shares with differential voting rights as to voting or dividend or otherwise under sub-clause (ii) of clause (a) section 86; (e) change in place or Registered Office out side local limits of any city, town or village as specified in sub-section (2) of section 146; (f) sale of whole or substantially the whole of undertaking of a company as specified under sub-clause (a) of sub-section (1) of section 293; (g) giving loans or extending guarantee or providing security in excess of the limit prescribed under sub-section (1) of section 372A; (h) election of a director under sub-section (1) of section 252; (i) power to compromise or make arrangements with creditors and members as specified under sub-section (2) of section 391; (j) variation in the rights attached to a class of shares or debentures or other securities as specified under section 106. 5. Procedure to be followed for conducting business through Postal Ballot .- (a) The company may make a note below the notice of General.....