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The Companies (Profits) Surtax Act, 1964

[Act No. 7 of 1964]

[2nd May, 1964.]

Title The Companies (Profits) Surtax Act, 1964
Sections Chaptericulars
1. Short title and extent
2. Definitions
3. Tax authorities
4. Charge of tax
5. Return of chargeable profits
6. Assessment
7. Provisional assessment
7A. Advance payment of surtax
7B. Interest payable by Government
7C. Interest payable by assessee
7D. Interest payable by assessee in case of under estimate, etc
8. Profits escaping assessment
9. Penalties
9A. False estimate of, or failure to pay, advance surtax
10. Opportunity of being heard
11. Appeals to the Commissioner (Appeals)
11A. Transfer of certain pending appeals
12. Appeals to Appellate Tribunal
13. Rectification of mistakes
14. Other amendments
15. Surtax deductible in computing distributable income under Income-tax Act
16. Revision of orders prejudicial to revenue
17. Revision of orders by Chief Commissioner or Commissioner
18. Application of provisions of Income-tax Act
19. Income-tax papers to be available for the purposes of this Act
20. Failure to deliver returns, etc
21. False statements
22. Abetment of false returns, etc
23. Institution of proceedings and composition of offences
24. Power to make exemption, etc., in relation to certain Union territories
24A. Agreement with foreign countries
24AA. Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils
25. Power to make rules
26. Saving
The Schedules
Schedule I Rules for Computing the Chargeable Profits
Schedule II Rules for Computing the Capital of a Company for the Purposes of Surta
Schedule III Rates of Surtax

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