ebook img

Extraordinary Gazette of India, 2006, No. 610 PDF

4.9 MB·English
Save to my drive
Quick download
Download
Most books are stored in the elastic cloud where traffic is expensive. For this reason, we have a limit on daily download.

Preview Extraordinary Gazette of India, 2006, No. 610

Tkfia 14) fri--( 94/O007/2003---05 REGISTERED NO. DL—(N)04/0007/2003-05 4CIEWIT EXTRAORDINARY ¶1 — PART II — Section 2 ITISMIT14 PUBLISHED BY AUTHORITY b11 --, *RR, 'tq 28, 2005 / 9 Tbk.-444, 1926 No. 11 NEW DELHI., MONDAY, FEBRUARY 28, 2005 / 9 PHALGUNA, 1926 1.419 licentgl Ai@ trAN4 arerf -ftritlaTATTr4 I Separate paging is given to this Part in order that it may be filed as a separate compilation. LOK SABHA The following Bill was introduced in the Lok Sabha on 28th February, 2005:— BILL No. 35 OF 2005 A Bill to give effect to the financial proposals of the Central Government for the financial year 2005-2006. B it enacted by Parliament in the Fifty-sixth Year of the Republic of India as follows:— E CHAFFER I P RELIMINARY (1) This Act may be called the Finance Act, 2005. Short title (2) Save as otherwise provided in this Act, sections 2 to 64 shall be deemed to have and commencement. come into force on the 1st day of April, 2005. CHAPTER II R ATES OF INCOME-TAX (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year Income-tax. commencing on the 1st day ofApril, 2005, 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 43 of 1961. under Chapter VIII-A of the Income•tax Act, 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 fifty thousand rupees, then,— (a) the net agricultural income shall be taken into account, in the manner provided in clause (b) [that is to say, as if the net agricultural income were comprised in the total income after the first fifty thousand rupees of the total income but without being liable to tax], only for the purpose of charging income-tax in respect of the total income; and

See more

The list of books you might like

Most books are stored in the elastic cloud where traffic is expensive. For this reason, we have a limit on daily download.