TaxTMI 
TaxTMI 
Interpretation.
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.... India under section 10(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) to deal in foreign exchange or foreign security; (5) "banking company" means a banking company to which the Banking Regulation Act, 1949 applies (10 of 1949); (6) "buyer" for the purposes of provisions in column B of the Table below means any person as specified in column C but does not include any person as specified in column D:- Table Sl.No. Provisions Person Person not to be included A B C D 1. Purchase of goods referred to in section 393(1) [Table: Sl. No. 8(ii)]. A person whose total sales, gross receipts or turnover from the business carried on by him exceed ten crore rupees during the tax year immediately preceding the tax year in which the purchase of goods is carried out. Any person, as the Central Government may notify for this purpose, subject to conditions as may be specified therein. 2. Sale of goods referred to in section 394(1) (Table: Sl. Nos. 1 to 5). A person who obtains in any sale, by way of auction, tender or any other mode, goods of the nature specified in section 394(1) (Table: Sl. Nos. 1 to 5), or the right to receive an....
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....ble: Sl. No. 6 (i)], means- (a) the Central Government or any State Government; or (b) any local authority; or (c) any corporation established by or under a Central Act or State Act or Provincial Act; or (d) any company; or (e) any co-operative society; or (f) any authority, constituted in India by or under any law, engaged either for the purpose of dealing with and satisfying the need for housing accommodation or for the purpose of planning, development or improvement of cities, towns and villages, or for both; or (g) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any law corresponding to that Act in force in any part of India; or (h) any trust; or (i) any University established or incorporated by or under a Central Act or State Act or Provincial Act and an institution declared to be a university under section 3 of the University Grants Commission Act, 1956 (3 of 1956); or (j) any Government of a foreign State or a foreign enterprise or any association or body established outside India; or (k) any firm; or (l) any person, being an ind....
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....c sector company for the use of such parking lot or toll plaza or mine or quarry for the purposes of business; (23) "non-resident Indian" shall have the meaning assigned to it in section 212(d); (24) "Offshore Banking Unit" shall have the same meaning as assigned to it in section 2(u) of the Special Economic Zones Act, 2005 (28 of 2005); (25) "online gaming intermediary" means an intermediary who offers one or more online games; (26) "overseas tour programme package" means any tour package which offers visit to any country or territory outside India and includes expenses for travel or hotel stay or boarding or lodging or any other expenditure of similar nature or in relation thereto; (27) "person responsible for paying" means- (a) in the case of payments of income chargeable under the head "Salaries", other than payments by the Central Government or the State Government-- (i) the employer himself; or (ii) if the employer is a company, the company itself, including the principal officer thereof; (b) in the case of payments of income chargeable under the head "Interest on securities", other than payments made by or on behalf of the C....
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....ase, tenancy or any other agreement or arrangement for the use of (either separately or together) any- (a) land; or (b) building (including factory building); or (c) land appurtenant to a building (including factory building); or (d) machinery; or (e) plant; or (f) equipment; or (g) furniture; or (h) fittings, whether or not any or all of the above are owned by the payee, and for the purposes of section 393(1) [Table: Sl. No. 2(i)], only the payment with reference to assets mentioned in sub-clauses (a), (b) and (c) shall be treated as rent; (30) "royalty" shall have the meaning assigned to it in section 9(6)(b); (31) "scrap" means waste and scrap from the manufacture or mechanical working of materials which is definitely not usable as such because of breakage, cutting up, wear and other reasons; (32) "securities" shall have the same meaning as assigned to it in section 2(h) of the Securities Contracts (Regulation) Act, 1956 (42 of 1956); (33) "seller" means-- (a) for the purposes of section 394(1) (Table: Sl. Nos. 1 to 6),- (i) the Central Government; or (ii) a State Go....
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....gned to it in section 2(i) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002); (41) "time deposits" means deposits (including recurring deposits) repayable on the expiry of fixed periods; (42) "unit" for the purposes of section 393(1) [Table: Sl. No. 4(iii)] and section 393(2) (Table: Sl. No. 8) shall have the meaning assigned to it in section 224(10)(c); (43) "Unit Trust of India" means the Unit Trust of India as referred to in the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002); (44) "University", referred in section 392(4), means a University established or incorporated by or under a Central, State or Provincial Act, and includes an institution declared under section 3 of the University Grants Commission Act, 1956, (3 of 1956) to be a University for the purposes of that Act; (45) "user" means any person who accesses or avails any computer resource of an online gaming intermediary; (46) "user account" means account of a user registered with an online gaming intermediary; (47) "work" shall include- (a) advertising; (b) broadcasting and telecasting including production of prog....