Bare Act Search Results

Finance Act, 2007 Complete Act

State: Central

Year: 2007

.....in the Fifty-eighth Year of the Republic of India as follows- CHAPTER 1: PRELIMINARY: SECTION 1: Short title and commencement: (1) This Act may be called the Finance Act, 2007. (2) Save as otherwise provided in this Act, sections 2 to 93 shall be deemed to have come into force on the 1st day of April, 2007. CHAPTER 2: RATES OF INCOME-TAX: SECTION 2: Income-tax: (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2007, 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 under Chapter VIII-A of the Income-tax Act, 1961(43 of 1961) (hereinafter referred to as the Income-tax Act) shall be increased by a surcharge for purposes of the Union calculated in each case in the manner provided therein. (2) In the cases to which Paragraph A of Part I of the First Schedule applies, where the assessee has, in the previous year, any net agricultural income exceeding five thousand rupees, in addition to total income, and the total income exceeds one lakh rupees, then,-- (a) the net agricultural income shall be taken.....

Finance Act 2007 Chapter IV

Title: Indirecttaxes

State: Central

Year: 2007

.....from the 1st day of June, 2007, for clause (b), the following clause shall be substituted, namely:-- '(b) "case" means any proceeding under this Act or any other Act for the levy, assessment and collection of customs duty, pending before an adjudicating authority on the date on which an application under sub-section (1) of section 127B is made: Provided that when any proceeding is referred back in any appeal or revision, as the case may be, by any court, Appellate Tribunal or any other authority, to the adjudicating authority for a fresh adjudication or decision, as the case may be, then such proceeding shall not be deemed to be a proceeding pending within the meaning of this clause;'. Section 101 - Amendment of section 127B In section 127B of the Customs Act, with effect from the 1st day of June, 2007, for sub-section (1), the following sub-sections shall be substituted, namely:-- "(1) Any importer, exporter or any other person (hereinafter referred to as the applicant in this Chapter) may, in respect of a case, relating to him make an application, before adjudication to the Settlement Commission to have the case settled, in such form and in such manner as may be.....

Finance Act 2007 Chapter III

Title: Direct Taxes

State: Central

Year: 2007

.....the purposes of this clause, "commodity exchange" shall mean a "registered association" as defined in clause (jj) of section 2 of the Forward Contracts (Regulation) Act, 1952(74 of 1952);'; (g) in clause (23FB), with effect from the 1st day of April, 2008 -- (i) for the words "set up to raise funds for investment", the words "from investment" shall be substituted; (ii) in Explanation 1, for clause (c), the following clause shall be substituted, namely:-- '(c) "venture capital undertaking" means such domestic company whose shares are not listed in a recognised stock exchange in India and which is engaged in the-- (i) business of-- (A) nanotechnology; (B) information technology relating to hardware and software development; (C) seed research and development; (D) bio-technology; (E) research and development of new chemical entities in the pharmaceutical sector; (F) production of bio-fuels; (G) building and operating composite hotel-cum-convention centre with seating capacity of more than three thousand; or "(H) developing or operating and maintaining or developing, operating and maintaining any infrastructure facility as defined in the Explanation to.....

Finance Act 2007 Section 6

Title: Amendment of Section 10

State: Central

Year: 2007

.....with effect from the 1st day of April, 2008, namely:-- "(23BBG) any income of the Central Electricity Regulatory Commission constituted under sub-section (1) of section 76 of the Electricity Act, 2003(36 of 2003);"; (e) in clause (23C) with effect from the 1st day of June, 2007,-- (A) in sub-clause (iv), for the words "which may be notified by the Central Government in the Official Gazette", the words "which may be approved by the prescribed authority" shall be substituted; (B) in sub-clause (v), for the words "which may be notified by the Central Government in the Official Gazette", the words "which may be approved by the prescribed authority" shall be substituted; (C) for the second proviso, the following proviso shall be substituted, namely:-- "Provided further that the prescribed authority, before approving any fund or trust or institution or any university or other educational institution or any hospital or other medical institution, under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or subclause (via), may call for such documents (including audited annual accounts) or information from the fund or trust or institution or any university or other.....

Finance Act 2007 Section 97

Title: Amendment of Section 28e

State: Central

Year: 2007

In section 28E of the Customs Act, in clause (c), the following Explanation shall be inserted at the end, namely:-- 'Explanation.--For the purposes of this clause, "joint venture in India" means a contractual arrangement whereby two or more persons undertake an economic activity which is subject to joint control and one or more of the participants or partners or equity holders is a non-resident having substantial interest in such arrangement;'.

Finance Act 2007 Section 118

Title: Amendment of Section 23a

State: Central

Year: 2007

In section 23A of the Central Excise Act, in clause (c), the following Explanation shall be inserted at the end, namely:-- 'Explanation.--For the purposes of this clause, "joint venture in India" means a contractual arrangement whereby two or more persons undertake an economic activity which is subject to joint control and one or more of the participants or partners or equity holders is a non-resident having substantial interest in such arrangement;'.

Finance Act 2007 Chapter V

Title: Service Tax

State: Central

Year: 2007

.....shall be substituted, namely:-- 'Explanation 2.--For the purposes of this sub-clause, "print media" means,-- (i) "newspaper" as defined in sub-section (1) of section 1 of the Press and Registration of Books Act, 1867(25 of 1867); (ii) "book" as defined in sub-section (1) of section 1 of the Press and Registration of Books Act, 1867(25 of 1867), but does not include business directories, yellow pages and trade catalogues which are primarily meant for commercial purposes;'; (h) after sub-clause (zzzw), the following sub-clauses shall be inserted, namely:-- '(zzzx) to any person, by the telegraph authority in relation to telecommunication service; (zzzy) to any person, by any other person in relation to mining of mineral, oil or gas; (zzzz) to any person, by any other person in relation to renting of immovable property for use in the course or furtherance of business or commerce. Explanation 1.--For the purposes of this sub-clause, "immovable property" includes-- (i) building and part of a building, and the land appurtenant thereto; (ii) land incidental to the use of such building or part of a building; (iii) the common or shared areas and facilities relating.....

Finance Act 2007 Section 135

Title: Amendment of Act 32 of 1994

State: Central

Year: 2007

.....shall be substituted, namely:-- 'Explanation 2.--For the purposes of this sub-clause, "print media" means,-- (i) "newspaper" as defined in sub-section (1) of section 1 of the Press and Registration of Books Act, 1867(25 of 1867); (ii) "book" as defined in sub-section (1) of section 1 of the Press and Registration of Books Act, 1867(25 of 1867), but does not include business directories, yellow pages and trade catalogues which are primarily meant for commercial purposes;'; (h) after sub-clause (zzzw), the following sub-clauses shall be inserted, namely:-- '(zzzx) to any person, by the telegraph authority in relation to telecommunication service; (zzzy) to any person, by any other person in relation to mining of mineral, oil or gas; (zzzz) to any person, by any other person in relation to renting of immovable property for use in the course or furtherance of business or commerce. Explanation 1.--For the purposes of this sub-clause, "immovable property" includes-- (i) building and part of a building, and the land appurtenant thereto; (ii) land incidental to the use of such building or part of a building; (iii) the common or shared areas and facilities relating.....

The Mizoram Municipalities Act, 2007 Complete Act

State: Mizoram

Year: 2007

THE MIZORAM MUNICIPALITIES ACT, 2007 THE MIZORAM MUNICIPALITIES ACT, 2007 (Act No.6 of 2007) [Received the assent of the Governor of Mizoram on 16th April/2007] An Act to provide for the administration of town areas and to establish municipalities in towns, transitional areas and urban areas in Mizoram. Whereas it is expedient and necessary to provide for the administration of town areas viz., transitional areas and urban areas and to introduce municipalities in Mizoram for the purpose of bringing them in conformity with the purpose, substance and direction of the Constitution (Seventy-fourth) Amendment Act, 1992 in general, and in particular to endow the municipalities with functions and powers so as to enable them to function as vibrant Institution of Local Self Government with greater People's participation in managing their own affairs besides importing certainty, continuity and democratic content and dignity, aiming among other things at the realisation of economic and social justice; It is enacted by the Legislative Assembly of Mizoram in the Fifty-eighth Year of the Republic of India as follows: CHAPTER -I PRELIMINARY 1. Short title, extent.....