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The Companies (Profits) Surtax Act, 1964

Central

An Act to impose a special tax on the profits of certain companies.

Act number
7 of 1964
Ministry
Ministry of Finance
Department
Department of Revenue
Enacted
2 May 1964

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

34 sections

  1. Section 1Short title and extent.
  2. Section 2Definitions.
  3. Section 3Tax authorities.
  4. Section 4Charge of tax.
  5. Section 5Return of chargeable profits.
  6. Section 6Assessment.
  7. Section 7Provisional assessment.
  8. Section 7AAdvance payment of surtax.
  9. Section 7BInterest payable by Government.
  10. Section 7CInterest payable by assessee.
  11. Section 7DInterest payable by assessee in case of under estimate, etc.
  12. Section 8Profits escaping assessment.
  13. Section 9Penalties.
  14. Section 9AFalse estimate of, or failure to pay, advance surtax.
  15. Section 10Opportunity of being heard.
  16. Section 11Appeals to the Commissioner (Appeals).
  17. Section 11ATransfer of certain pending appeals.
  18. Section 12Appeals to Appellate Tribunal.
  19. Section 13Rectification of mistakes.
  20. Section 14Other amendments.
  21. Section 15Surtax deductible in computing distributable income under Income-tax Act.
  22. Section 16Revision of orders prejudicial to revenue.
  23. Section 17Revision of orders by Chief Commissioner or Commissioner.
  24. Section 18Application of provisions of Income-tax Act.
  25. Section 19Income-tax papers to be available for the purposes of this Act.
  26. Section 20Failure to deliver returns, etc.
  27. Section 21False statements.
  28. Section 22Abetment of false returns, etc.
  29. Section 23Institution of proceedings and composition of offences.
  30. Section 24Power to make exemption, etc., in relation to certain Union territories.
  31. Section 24AAgreement with foreign countries.
  32. Section 24AAPower to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils.
  33. Section 25Power to make rules.
  34. Section 26Saving.