The Business Profits Tax Act, 1947

( ACT NO. XXI OF 1947 )

[ 11th April, 1947 ]
An Act to impose a special tax on a certain class of income.1♣♠

 
 
 
WHEREAS it is expedient to impose a special tax on income arising from business;
 
 
 
 
It is hereby enacted as follows:-
 
 
 

CONTENTS

SECTIONS

1. Short title, extent and commencement

2. Interpretation

3. Tax authorities

4. Charge of tax

5. Application of Act

6. Relief on occurrence of deficiency of profits

7. Change in persons carrying on business

8. Interconnected companies

9. Aggregation of profits in certain cases

10. Allowance of business profits tax in computing income for income-tax purposes

11. Issue of notice for assessment

12. Assessments

13. Power to make provisional assessments

14. [Omitted]

15. Penalties

16. Appeals to Appellate Assistant Commissioner of Income-tax

17. Appeal to Appellate Tribunal

17A. Power of revision by the Commissioner

18. Rectification of mistakes

18A. [Omitted].

19. Application of the provisions of Act XI of 1922

20. Income-tax papers to be available for the purposes of this Act

21. Failure to deliver returns or statements

22. False statements

23. Institution of proceedings and composition of offences

24. Power to make rules

Schedule

SCHEDULE