Companies (Profits) Surtax Act : Charge of tax Indian Bare Acts :

Companies (Profits) Surtax Act,1964

Act No : 7

Section : Charge of tax

4.Charge of tax. Subject to the provisions contained in this Act, there shall be charged on every company for every assessment year commencing on and from the first day of April, 1964, 3["but before the first day of April, 1988"] a tax (in-this Act referred to as the surtax) in respect of so much of its chargeable profits of the previous year or previous years, as the case may be, as exceed the statutory deduction, at the rate or rates specified in the Third Schedule. ---------------------------------------------------------------------- 1 Ins. by Act 19 of 1970, s. 39. 2 Subs. by Act 20 of 1967, s. 36, for "and Income-tax 'Officer" (w.e.f. 1.4.1967). 3 Subs. by s. 36 ibid, for "same as that he has" (w.e.f. 1.4.1967). 4 Subs. by Act 66 of 1976, S. 29 (w.e.f. 1-4-1977) 5 Subs. by Act 29 of 1977, S. 39 & Sch. V (w.e.f. 10.7. 1978). 3 Ins. by Act 23 of 1986, S. 47 (w.e.f. 1.4. 1988). 2 Subs. by Act 4 of 1988, S. 188 (w.e.f 1.4.1988). ---------------------------------------------------------------------- 1273