9911796707
TMI BlogIncome-TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... raphs A, B, C and D of that Part apply, shall be increased by a surcharge for purposes of the Union and in the cases to which Paragraph C applies, also by a special surcharge for purposes of the Union, calculated in each case in the manner provided therein. (2) In making any assessment for the assessment year commencing on the 1st day of April, 1971, where the total income of a company, other than ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red to as the Income-tax Act) applies, the tax chargeable shall be determined as provided in that Chapter or that section, and with reference to the rates imposed by sub-section (1) or the rates as specified in that Chapter or section, as the case may be. (4) In cases in which tax has to be deducted under sections 193, 194, 194A and 195 of the Income-tax Act at the rates in force, the deduction sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e rate or rates specified in Part III of the First Schedule : Provided that in respect of any income chargeable to tax under section 164 of the Income-tax Act at the rate of sixty-five per cent., advance tax shall be computed at that rate. (6) For the purposes of this section and the First Schedule, - (a) company in which the public are substantially interested means a company which is such a comp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall be deemed to be mainly engaged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining, if the income attributable to any one or more of the aforesaid activities included in its total income of the previous year (as computed before making any deduction under Chapter VIA ..... X X X X Extracts X X X X X X X X Extracts X X X X
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