CHAPTER XI

Additional income-tax on undistributed profits

[Chapter XI omitted by the Finance Act, 1987, w.e.f. 1-4-1988. While sections 95 to 103 were omitted by the Finance Act, 1965, w.e.f. 1-4-1965, sections 104 to 109 were omitted by the Finance Act, 1987, w.e.f. 1-4-1988.]

 

Income-tax on undistributed income of certain companies.

104.     54[R1] [Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.]

 

Special provisions for certain companies.

105.     55[R2] [Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.]

 

Period of limitation for making orders under section 104.

106.     56[R3] [Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.]

 

Approval of Inspecting Assistant Commissioner for orders under section 104.

107.     57[R4] [Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.]

 

Reduction of minimum distribution in certain cases.

107A. 58[R5] [Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.  Original section was inserted by the Finance Act, 1964, w.e.f. 1-4-1964.]

 

Savings for company in which public are substantially interested.

108.     [Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.]

 

“Distributable income”, “investment company” and “statutory percentage” defined.

109.     59[R6] [Omitted by the Finance Act, 1987, w.e.f. 1-4-1988.]

 

 [R1]Omitted section 104 was earlier amended by the Finance Act, 1964, w.e.f. 1-4-1964, the Finance Act, 1965, w.e.f. 1-4-1965, the Finance Act, 1966, w.e.f. 1-4-1966, the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968, the Finance Act, 1973, w.e.f. 1-4-1974, the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976 and the Finance (No. 2) Act, 1977, w.e.f. 1-4-1978.

 [R2]Omitted section 105 was earlier amended by the Finance Act, 1973, w.e.f. 1-4-1974.

 [R3]Omitted section 106 was earlier amended by the Finance Act, 1964, w.e.f. 1-4-1964 and substituted by the Finance Act, 1975, w.e.f. 1-4-1975

 [R4]Omitted section 107 was earlier amended by the Finance Act, 1964, w.e.f. 1-4-1964.

 [R5]Omitted section 107A was earlier amended by the Finance (No. 2) Act, 1977, w.e.f. 10-7-1978.

 [R6]Omitted section 109 was earlier amended by the Finance (No. 2) Act, 1962, w.e.f. 1-4-1962, the Finance Act, 1964, w.e.f. 1-4-1964, the Finance Act, 1965, w.e.f. 1-4-1965, the Finance Act, 1966, w.e.f. 1-4-1966, the Finance (No. 2) Act, 1967, w.e.f. 1-4-1968, the Finance Act, 1968, w.e.f. 1-4-1969, the Taxation Laws (Amend­ment) Act, 1975, w.e.f. 1-4-1976, the Finance (No. 2) Act, 1977, w.e.f. 1-4-1978 and the Finance Act, 1983, w.e.f. 1-4-1984.