 the finance (no2) bill, 1957(as introduced in lox sabha)  to' the finance (no2) bill, 19 ff7 (as introduoed in lok sabha)on pace 31,-tor it( jxxx1x) " ~ it( ljcaviii) " and, re-number ~ubs9quent sub-olauses consecutively  new peuii, the 25th may, ' 195710 1 of 1922 is surcharge for the purposes of the union calculated in the manner provided therein; and (b) super-tax shall, for the purposes of section 55 of the indian income-tax act, 1922 (hereinafter referred to as the income-tax act), be charged at the rates specified in part ii of the first schedule, and, in the cases to which paragraphs a, b and c of that part apply, shall be increased by a surcharge for the purposes of the union calculated in the manner provided therein (2) in making any assessment for the year ending on the 31st day of march, 1958, there shall be deducted from the total income of an 20 assessee, in respect of the earned income, if any, chargeable under the head "salaries" included therein,-(a) an amount 'equal to one-fifth of such earned income, but not exceeding in any case four thous~d rupees, or 328 ls-l   the finance (no2) bill, 1957 (as introduced in lok sabha)a bill to give effect to the financial proposals of ute central got'ernment for the financial year 1957-58 be it enacted by parliament in the eighth year of the republic of india as follows:-1 this act may~be called the finance (no2) act, 1957 short title 2 (1) subject to the provisions of sub-sections (2), (3), (4) and (5) income-tax s for the year beginning on the 1st day of april, 1957,-=-iuper-(a) income-tax shall be charged at the rates specified in part i of the first schedule, and, in the casej; to which paragraphs a, band c of that part apply, shall be increased by a surcharge for the purposes of the union calculated in the 10 manner provided therein; and (b) super-tax shall, for the purposes of section 55 of the i of 1922 indian income-tax act, 1922 (hereinafter referred to as the income-tax act), be charged at the rates specified in part ii of the firs\ schedule, and, in the cases to which paragraphs a, b is and c of that part apply, shall be increased by a surcharge for the purposes of the union calculated in the manner provided therein (2) in making any assessment for the year ending on the 31st day of march, 1958, there shall be deducted from the total income of an 20 assessee, in respect of the earned income, if any, chargeable under the head "salaries" included therein,-(a) an amount equal to one-fifth of such earned income, but 23 ~1 not exceeding in any case four thous~nd rupees, or (b) the amount, if any, arrived at after deducting from four thousand rupees one-fifth of the amount by which the aggregate of all earned incomes included in the total income under whatever head they are chargeable exceeds twenty-five thousand rupees, s whichever is less (3) in making any assessment for the year ending on the 31st day of march, 1958,-(4) where the total income of an assessee, not being a cojnpany, includes any income chargeable under the head "salaries" 10 as reduced by the deduction for earned income appropriate thereto, or any income chargeable under the head "interest on securities", or any income from dividends in respect of which by virtue of section 49b of the income-tax act he is deemed himself to have paid the income-tax imposed under that act, the is income-tax payable by the assessee on that part of his total income which consists of such inclusions shall be an amount bearing to the total amount of income-tax payable accordin~ to the rates applicable under the operation of the finance act, 1956, ii of 19,· on his total income the same proportion as the amount of such 20 inclusions bears to his total income; (b) where the total income of an assessee, not being a company includes any income chargeable under the head "salaries" on which super-tax has been or might have been deducted under the provisions of sub-section (2) of section 18 of the income-tax ~s act, the super-tax payable by the assessee· on that portion or his total income which consists of such inclusion shall be an amount bearing to the total amount of super-tax payable accordjng to the rates applicable under the operation of the finance act, 1956, on ii of 1,,,-his total income the same proportion as the amount of such inclu- 30 sion bears to his total income (4) in making any assessment for the year ending qn the 31st day of march,' 1958, where the total income of a company includes any profits and gains from life insurance business, the super-tax otherwis~ payable by the company on the whole of such total income shall 35 b~ reduced by an amount which bears to that super-tax the same prc)ortion as the amount of such inclusion bears to its total income, or by an amount computed at the rate of-(i) twelve per cent in the case of a mutual insurance com- 40 "r 1'3' pey as deftned in section 95 of the irsuranee act, 1938; and (it, nine per cent in the case of any other company, on the amount of such inclusion, whiohever is less (5) in cases to which section 17 of the income-tax act applies, the 5 t8x charg  able shall be determined as provided in that section, and with reference to the rates imposed by sub-section (1), and in accordance with the provjsions of sub-sections (2), (3) and (4) of this 3ection, wherever applicable (6) for the purposes of this section, and of the rates of tax imposed 10 thereby, the expression "total income" means total income as d~ter­mined for the purposes of income-tax or super-tax, as the case may be, in accordance with the provisions of the income-tax act, and the expr:?ssion "earned income" has the meaning assigned to it m clause (6aa) of section 2 of that act is 3 in section 4 of the income-tax act, in sub-section (3), after ameadmeat clause (xviia), the following clause shall be inserted, namely: -of eecdoil 4· "(xviib) interest payable by government or a local authority on moneys borrowed by it from sources outside india from any· person not resident in india or from any institution established 20 outside india;" t in section 10 of the income-tax act, for sub-sections (2b) and amendmut (2c), the following sub-sections shall be, substituted, namely::"'" oflecticllu •• ii (2b) notjyithstanding anything contained in sub-section (2), no allowance under clause (vi), clause (via), clause ("ib) or 25 clause (vii) of that sub-seeton shall be made in computing under this section the profits or gains of a company for any previous year unless the company deposits or has deposited with the central government within six months from the end of the said previous year or before the thirtieth day of june of the assess-30 ment year relevant to such previous y~ar, whichever is later-(i) such percentage, if any (not exceeding twenty-five in any case) as may be notified by the central government, of the accumulated profits and reserves of the company as at the end of the year preceding the previous year, to the 35 extent to which such profits and reserves are not'represented by the fixed assets of the company; and (ii) such percentage, if any (not exceedinsz seventy-fiv~ in any case) as may be notified by the central governmf'mt of the amount by which the' aggregate of the followini 40 amounts, namely:-(a) the total income of the company for the previous year, as reduced by the amount of income-tax and supertax payable in respect thereof (the total income and tax being computed by the assessee for this purpose) and by the dividends, if any, declared or deemed to be declar~d in india, during the previous year; and (b) the sum of the' allowances claimed by the company under the clauses aforesaid; 5 exceeds the sum of rupees one lakh: provided that where the total income computed by the income-tax officer under this act exceeds the total income as ,-'omputed by the company under clause lii), the company shall be deemed not to have made any deposit under that clause unless 10 it deposits with the central government such further amount as may be prescribed having regard to the excess, together with interest thereon at the prescribed rate: provided further that the central government may by notification in the official gazette, direct that for any assessment is year the provisions of this sub-section shall have effect as if for "the period of six months" and the date "the thirtieth day of june" referred to therein the period or date specified in the notification had been substituted explanation-the power to fix percentages under this sub- 2:> section includes a power to fix different percentages in relation to different classes of companies (2c) the central government may make rules-(<<) providing for the manner in which the deposits referred to in sub-section (2b) may be computed or made; 25 (b) providing for the manner in which, and the extent to which, dividends declared by companies incorporated outside india or not resident in india may be deemed to be declared in india; (c) providing for the time when, and the manner in 30 which, refunds of any deposit made under sub-section (2b) shall be made, whether with or without interest, and, in particular, the refund at any time of any such deposit or any part thereof where the refund is claimed for carrying out any such purpose connected with the business of the 35 company as may be approved by the central government; (d) presc:ribinl the dmlmstances in which, and the conditions subject to ,which, a deposit need not be made under sub-section (2b); (e) providing for the procedure to be follewed in 40 respect of any of the matters specified in the preceding clauses, and the constitution of a board of referees for any of the purposes aforesaid" 5 in section 15 of the income-tax act, in sub-section (3), for the amendment word "one-fifth" in both the places where it occurs, the word of section is· s "one-fourth" shall be substituted 10 is 6 in section 17 of the income-tax act, in clause (b) of sub- amendmeat section (1), for the words "three annas in the rupee", the words oflectiou 17 "nineteen per cent" shall be substituted , in section 23a of the income-tax act,-amendment (i) for sub-sections (1) and (2), the following sub-sections o!& 2, •• secrion shall be substituted, namely:-"(1) where the income-tax officer is satisfied that in respect of any previous year the profits and gains distributed as dividends by any coml\8ny within the twelve months immediately following the ~xpiry of that previous year are less than the statutory percentage of the total income- of the company of that previous year as reduced by-20 (a) the amount of income-tax and super-tax payable by the company in respect of its total income, but excluding the amount of any super-tax payable under this section; (b) the amount of any other tax levied under any law for the time being in force on the company by the government or by a local authority in excess of the amount, if any, which has been allowed in computing the total income; and 10 01 1')4'1 30 35 40 (c) in the case of a banking company, the amount actually transferred to a reserve fund under section 17 of the banking companies act, 1949; the income-tax officer shall, unless he is satisfied that, having regard to the losses incurred by the company in earlier years or to the smallness of the profits made in the previous year, the payment of!j dividend or a larger dividend than that declared would be unreasonable, make an order in writing that the company shall, apart from th~ sum determined as payable by it on the basis of the assessment under section 23, be liable to pay super-tax at the rate of fifty per cent in the case of a company whose businpss consists wholly or mainly in the dealing in or holding of investments, and at the rate of thirty-seven per cent in the case of any other company on the undistributed balance of the total income of the previous year, that is to say, on the total income as reduced by the amounts, if any, referred to in clause (a), clause (b) or clause (c) and the dividends actually distributed, if any (2) no order under sub-section (1) shall be made,-(i) in the case of a company whose business consists 5 wholly or mainly in the dealing in or holding of investments which has distributed not less than ninety per cent of its total income as reduced by the amounts, if any, referred to in clause (a), clause (b) or clause (c) of sub-section (1); or 10 (ii) in the case of any other company whose distribution falls short of the statutory percentage by not more than five per cent of its total income as reduced by the amopnts, if any, aforesaid; or (iii) in any case where according to the return is made by a company under section 22 it has distributed not less than the statutory percentage of its total income as reduced by the amounts, if any, aforesaid, but in the assessment made by the income-tax officer under section 23 a higher total income is arrived at and the 20 difference in the total income does not arise out of the application of the proviso to section 13 or sub-section (4) of section 23 or the omission by the company to disclose its income fully and truly; unless the company, on receipt of a notice from the income- 25 tax officer that he proposes to make such an order, fails to make within three months of the receipt of such notice a further distribution of its profits and ~ins so that the total distribution made is not less than the statutory percentage of the total income of the company as reduced by the 30 amounts, if any, aforesaid" (ii) sub-sections (3), (4), (5) (6) and (7) shall be omitted; (iii) in sub-section (8), the words "except in cases where a decision is given by the commissioner of income-tax under - sub-section (3) or the board of referees under sub-section (4)" 3s shall be omitted; (iv) the explanation to section 23a shall be re-numbered as explanation 1 and in the explanation as so renumbered, in clause (b), for the word, brack~ts and figure "sub-section (4)" in both the places where they occur, the words, brackets and 40 figures "clause (:i) of explanation 2" shall be substituted; (v) after the explanation as so renumbered, the following explanation shall be inserted, namely:-"explanation 2-for the purposes of this section, statutory percentage means,-' s 10 (i) in the case of a company whose business consists wholly or mainly in the dealing in or holding of investments 100% (ii) in the case of an indian company whose business consists wholly in the manufacture or pl"ocessing of goods or in mining or in the generation or distribution of electricity or any other form of power 45% (iii) in the case of an indian company, a part only of whose business consists in any of the activities specified in clause (ii)-15 (a) in relation tq the said part of the company's business 45% 20 (b) in relation to the remaining part of the company's business-(1) if it is a company which satisfies the conditions specified in sub-clause (a) of clause (iv) 90% (2) in any other case 60%; the said percentages being applied separately with reference to the amounts of profits and gains attribut  able to the two parts of the company's business afore· said as if the said amounts were respectively the total income of the company in relation to each of its parts, the amount of dividends and taxes also being similarly apportioned, for the purposes of sub·section (1) 30 35 (iv) in the case of any other company not referred to in the preceding clauses,-(a) where the accumulated profits an4 /reserves (including the· amounts capitalised from the earlier reserves) representing accumulations of past profits which have not been the subject of an order under subsection (1) exceed either the aggregate of-(1) the paidup capital of the company exclusive of the capital, if any, created out of its profits and gains which 90% have not been the subject of an order under sub·section (1); (2) any loan capital which is the property of the shareholders; or the actual cost of the fixed assets of the company, whichever of these is greater  (b) where sub-clause (a) does not apply 60%"  8 in section 24 of the income-tax act-amendment of section 240 (a) in clause (iii) of sub-section (2) after the words 10 ufollowing year and so on" the words "but no loss shall be so carried forward for more than ejght years" shall be inserted; (b) in sub-section (2b), after the words "to the following year and so on", the words "so however that no such loss shall be carried forward for more than eight years" shall be inserted is recognised provident fund as consists of-(a) contributions made by the employer in excess of ten per cent of the salary of the employee, and substitution t for section 58e ot the income-tax act, the following section of new section for shall be substituted, namely:-section 58e annual contributjodi of ' u58e that portion of the annual accretion in any year to the balance at the credit of an employee participating in a - employera and intereat when deemed to be income received substitution of new section for section ssp exemption of employee~' contributions from income-tax commencement of amendments ton::tii of i9u  (b) interest credited on the balance to the credit of the employee in so far as it exceeds one-third of the salary of the employee or is allowed at a rate exceeding the rate fixed 25 by the central government in this behalf by notification in the official gazette, shall be deemed to have been received by him in that year and shall be included in his total income for that year, and subject to the exemptions' specified in section 58f, shall be liable to 30 income-tax and super-tax" 10 for section 58f the following section shall be substituted, namely:-"58f an employee shall not be liable to pay income-tax on his own contributions to his individual account in a recognised 3s provident fund i~ so far as the aggregate of such contributions in any year does not exceed one-fifth of his salary in that year or eight thousand rupees, whichever is less" 11 (1) the amendments to the income-tax act made by sections 3, 9 and 10 shall, for the purposes of making any deduction of income- 40 tax under sub-section (2) or sub-section (2b) of section 18 of the income-tax act, have effect on and from the first day of april, 1957, add for other purposes shall have effect on and from the fil'lt day of aprtl, 1958 ' (2) save as otherwise provided in sub-section (1), the provisions ()f section 2 and the amendments to the income-tax act made by s :se~ions 3 to 10 inclusive shall be deemed to have come into force ()n the first day of april, 1957 (3) where any assessment in relation to which the amendmenta made by this act have effect has been completed before the passing of ~ls act, the income-tax officer shan revise it accordingly iq (4) for the removal of doubts, it is hereby declared that the )provisions of section 23a of the income-tax act, as in force immedi-'ately before the 1st day of april, 1957, shall continue to apply to a company in respect of its profits and gains of a previous year relevant to any assessment year prior to the assessment year ending on the is 31st day of march, 1957 12 (1) the indian tariff act, 1934 (hereinafter referred to as the ~m •• tariff act), shall be amended in the manner specified in parts i, n, of ip~ iii and iv ot the second schedule (2) in the first schedule to the tariff act, the following 2ol!zplanation shall be inserted at the end, namely:-"explanation-references in this schedule to 'the excise duty for the time being leviable on like articles if produced or manufactured in india' shall be construed as references to the excise duty for the time being in force which would be leviable on like articles if produced or manufactured in india or, if like articles are not so produced or manufactured, which would be leviable on the class or description of articles to which the imported articles belong" 13 in the first schedule to the central excises and salt act, ~m-:e:j 30 1944-1944-3s (a) in item no i, for the entry in the third column, the entry "twenty naye paise per imperial gallon" shall be substituted; 1 (b) in item no2, for sub-items (1), (2), (3) and (4), the following shall be substituted, namely:-" (i) matches, in boxes containing 60 matches on an average, if manufactured in a factory whose output-(i) exceeds five hundred thousand gross of boxes per year ~o four rupees and ninety naye paise per gross of boxes four rupees angi eventy-five naye paise per gross of ~lres (ii) does not exceed five hundred thousand gross of boxes per year, but exceeds one "'undred gross of boxes per day, (iii) does not exceed one hundred gross of boxes per day, but exceeds twenty-five gross of boxes per day (it!) does not exceed twenty-five gross of boxes per day | four                  | rupees    ||-----------------------|-----------|| and'                  |           || sixty naye paise      |           || per                   |           || gross                 | of        || four                  | rupees    || forty-five naye paise |           || 5                     |           || per                   |           || gross                 | of        |(2) matches, in boxes containing 40 matches on an average, if manufactured in a factory whose output-(i) exceeds five hundred thousand gt'('~ of boxes per year three rupees and 10 twenty-five naye paise per gross of boxes three rupees and fifteen naye paise 25 per gross of boxes (ii) does not exceed five hundred thousand gross of boxes per year, but exceeds one hundred gross of boxes per day (iii) does not exceed one hundred gross of boxes per day, but exceeds twenty-five gross of boxes per day (i'o) does not exceed twenty-five gross of boxes per day | three                  | rupees          | and    ||------------------------|-----------------|--------|| fi                     | ve              | naye   || paise                  |                 |        || per gross              | of              | boxes || 20                     |                 |        || two                    | rupees          | and    || nine-                  |                 |        || ty-five naye paise per |                 |        || gross                  |                 |        || of                     | boxes          |        || one                    | rupee per gross |        || of                     | boxes          |        || 3s                     |                 |        |(3) matches in boxes containing on an average not more than twelve matches of the type known as " bengal lights" (4) all other matches eighty naye paise for every 1,0 matches or fraction thereof" ; 30 (e) in item no4, for the entry in the third column, the entry "one rupee and twenty-five naye paise per imperial glt-llon" shall be substituted; cd) in item no7, for the entry in the third column, the entry "forty rupees per ton" shall be substituted; 35 (e) in item no8, in sub-item (1), for the entry in the third column, the entry "eleven rupees and twenty-five naye paise ner cwt" shan be substituted; <f) in item no 9,-(i) in sub-item i (4), for the entry in the third column, 40 the entry "seventy-five naye paise per lb" shall be substituted; (ii) for sub-items 1(5) and 1(6), the following sub-items shall be substituted, namely:-"(s) if not flue cured and not fifty naye paise per 45 actually used for the manufacture of lb  (a) cigarettes or (b) smoking mixtures for pipes and cigarettes-(i) stems of ,tobacco larger than 1/4· and stems of tobacco not larger than 1/1'" in size; (ii) dust of tobacco j , (iii) granule (' rarva') of tobacco not larger than 1/16" square in size; , 10 (w) tobacco cured in whole leaf form and packed or tied in bundles, hanks or bunches or in the form of twists or coils j explanatim-the size of tobacco shall be determined for the purposes of this sub-item with reference to the size of the mesh through which it can pass ; (6) if other than flue cured and one rupee per lbo" ; not otherwise specified is (g) in item no 13, for the entry in the third column, the entry "thirty-five naye paise per lb" shall be substitutec:l; (h) in item no 14, for the entries in the third column against sub-items (1) (i), (1) (ii) and (2), the entries "thirty five naye paise per lb net", "forty-five naye paise per lb net"; "ten naye paise per lb net" shall respectively be substituted; (i) in item no 15, for the entry in the third column, the entry "twenty rupees per ton" shall be substituted; ,0 (j) for item no 21, the following item shall be substituted, namely:-"21 paper, all sorts (including pasteboard, millboard, strawboard and cardboard), in or in relation to the manufacture of which any process is ordinarily carried on with the aid of power-fifteen naye per lb paise (i) blotting, toilet, target, tissue other than cigarette tissue, teleprinter, typewriting, manifold, bank, bond, art paper, chrome paper , tubsized paper, cheque paper, stamp paper, cartridge paper and parchment 3' (a) cigarette tissue - - - thirty naye paise per lb ten naye paise per lb (3) printing and writing paper, other sorts ten naye paise per lb five naye paise per lb (4) packing and wrapping paper, other sorts (s) millboard and strawboard other than corrugated board 45 (6) duplex and triplex board - ten naye paise per lb (7) pulp board; - (8) manilla and corrugated board ten tta~ -paise per lb  (9) coated board (including art, fifteen naye paise per s 'chrome and board for playing cards) lb '(ro) paper and paper board, all fifteen naye paise ~&biu, not otherwise specified per lb " ; '(k) in 'item no 23, for the entry in the third column, the entry "one hundred and twelve rupees per ton" shall be 10 substituted; (,1;) in item no 24, for the entry in the third column, the entry "forty naye paise per imperial gallon" shall be substituted; (m) in item no 25, in sub-item (a), for the entry in the is third column, the entry "forty rupees per ton" shall be substituted; amcddmart of act 6 of i  14 the first schedule to the indian post office act, 1898, shau·-be amended as follows, namely:-(i) after the entries relating to letters, the followini head- 20 ing and entry shall be inserted, namely:-"letter-cards for a letter-card 10 naye paise"; (ii) for the heading post cards and the entries thereunder, the following headinp and entries shall be substituted, namely:- 25  "poltcardb local dejive1'1l postcards| for             | a single postcard    ||-----------------|----------------------|| for             |                      || a               |                      || reply postcard  |                      || 4               |                      || naye paise      |                      || 8               |                      || naye paise      |                      || other poltcardb |                      || 30              |                      || for             | a single"postcard    || for             | a reply postcard     || 6               |                      || naye paise      |                      || uz              |                      || naye paise";    |                      |(iii) in column 2 ot the entries under the heading book, pattern and sample packets, for the figure and words "6 my' paise" the figure and words "8 mye paise" shall be substituted; 35 (iv) in column 2 of the entries under the heading parcels, for the figures and words "5q mli~ paise" against the entry "for a weight not exceeding forty tolas", the figures and words "60 mv' pave" &hall be iubtututec1 '77 cf 19,6 :, c 19'7 15 (1) sections 31 and 37 of, and the third and fourth schedules  to, the finance act, 1956, and section 5 of the finance act, 1957, are hereby repealed (2) section 8 of the finance (no3) act, 1956, anci section 2 of s the finance act, 1957, are hereby repealed and shall be deemed never to have been enacted  declar4tion ume7' the provisional collection of taxes act, 1931 (16 of 1931)it is hereby declared that it is expedient in the public interest 10 that the provisions of clauses 12 and 13 of t~is bill shall have bnmediate effect under the provisional collection of taxes act, 1931  part i income-tax and surcharge on income-taz paragraph a(i) in the case of every individual who is married and every hindu undivided family:-rates of income-tax (1) on the first rs 3,000 of total income nil (2) on the next rs 2,000 of total income 3% (3) on the next rs 2,500 of total income 6~c (4) on the next rs 2,500 of total income 9% (5) on the next rs 2,500 of total income 11 % (6) on the next rs 2,500 of total income 14% (7) on the next rs 5,000 of total income 18cj~ (8) on the balance of total income 25% (ii) in the case of every individual who is not married and every unregistered firm or other association of persons, not being a case to which paragraph b or paragraph c or paragraph d of this part applies:-(1) on the first rs 1,000 of total income nil (2) on the next rs 4,000 of total income 3% (3) on the next rs 2,500 of total income 6% (4) on the next rs 2,500 of total income 9% (5) on the next rs 2,500 of total income 11% (6) on the next rs 2,500 of total income 14% (7) on the next rs 5,000 of total income 18% (8) on the balance of total income 25% provided that-(i) no income-tax shall be payable on a total income which does not exceed the limit specified below; (ii) the income-tax payable shall in no case exceed half the amount by which the total income exceeds the said limit the limit aforesaid shall be-(i) rs 6,000 in the case of every hindu undivided family which as at the end of the previous year satisfies either of the following conditions, namely:-(a) that it has at least two members entitled to claim partition who are not less than eighteen years of age; or (b) that it has at least two members entitled to claim partition who are not lineally descended one from the other and who are not lineally descended from any other uving member of the family; (ii) rs 3,000 in every other case  s1lr~harge on income-taxthe amount of income-tax computed at the rates hereinbefora specified shall be increased by a surcharge which shall be the aggregate of the amounts calculated as under:-(1) five per cent of the amount of income-tax; (2) fifteen per cent of the difference between the amount of income-tax on the total income and the amount of incometax on the whole of the earned income, if any, included in the total income if such earned income had been the total income; and (3) where the earned income included in the total income exceeds rs 1,00,000, five per cent of the difference between the amount of income-tax which would have been payable on the whole of the earned income included in the "'otal income if such earned income had been the total income and the amount of income-tax payable on a total income of rs 1,00,000: provided that-(i) no surcharge shall be payable where the total income does not exceed the limit specified below; and (ii) the surcharge payable shall in no case exceed half the amount by which the total income exceeds the said limit the limit aforesaid shall be-(i) rs 15,000 in the case of every hindu undivided family which satisfies as at the end of the previous year either of the following conditions, namely:-(a) that it has at least two members entitled to claim partition who are not less than eighteen years of age; or (b) that it has at least two members entitled to claim partition who are not lineally descended one from the other and who are not lineally descended from any other living member of the family;, " (ii) rs 7,500 in every other case , i e~laft4tion-ror the purposes of this paragraph, in the case of every hindu undivided family govemed by the mitakbhara law, a son shall be deemed to be entitled to claim partition of the coparcenary property against his father 9r grandfather notwithstanding any custom to the contrary paragraph b in the case of every company and local authority,  rate of income-tuon the whole of the total income 30",  surcharge on income-tarthe amount of income-tax computed at the rate hereinbefore specified shall be increased by a surcharge of 5 per cent thereon  paragraph c(1) in every case in which under the provisions of the income-tax act, income-:tax is to be charged at the maximum rate,  ratti of income-tuon the whole of the total income  surcharge on income-taxthe amount of income-tax computed at the rate hereinbefore specified s~all be increased by a surcharge of 20 per cent thereon (2) in every case in which under the provisions of the income-tax act, income-tax is to be deducted at the maximum rate, deduction shall be made from the whole income which is to be subjected to such deduction at the fcilllowing rates, namely:-riiu ti/ ittctjrfll-ttj% rat' 0/ jur~' tin tin fiihoj ittctjrfll n till , in-, id the cue of every company id any other cam i·s% s%  paragraph din the ease of every relistered firm, rate of income-tu (1) on the first rs 40,000 of total income (2) on the next rs 35,000 of total income (3) on the next rs 75,000 of total income (4) on the balance of total income  part ii super-tax and mrcharge on iuper-tazparagraph a in the case of every individual, hindu undivided family, unregistered firm and other association of persons, not being a case to which any other paragraphs of this part applies, | rates            | of                       | super-tax    ||------------------|--------------------------|---------------|| (1)              |                          |               || on               |                          |               || the              | first rs                |               || 20,000           |                          |               || of total income  |                          |               || (2)              |                          |               || on               | the                      | next          || 5,000            |                          |               || of total income |                          |               || (3)              |                          |               || on               |                          |               || the              | next                     |               || rs              |                          |               || 5,000            |                          |               || of total income |                          |               || (4)              |                          |               || on               |                          |               || the              | next                     |               || rs              |                          |               || 10,000           |                          |               || of total income |                          |               || (5)              |                          |               || on               | the                      | next          || rs              |                          |               || 10,000           |                          |               || of total income |                          |               || (6)              |                          |               || on the           | next                     |               || rs              |                          |               || 10,000           |                          |               || of total income |                          |               || (7)              |                          |               || on the           | next                     |               || rs              |                          |               || 10,000           |                          |               || of total income |                          |               || (8)              |                          |               || on               |                          |               || the              | balance of total income |               || nil              |                          |               || 5%               |                          |               || 15%              |                          |               || 20%              |                          |               || 30%              |                          |               || 35%              |                          |               || 40%              |                          |               || 45%              |                          |               | surcharge on super-taxthe amount of super-tax computed at the rates hereinbefore specified shall be increased by a surcharge which shall be the aggregate of the amounts calculated as under:-(1) five per cent of the amount ot super-tax; (2) fifteen per cent of the difterence between the amount of super-tax on the total inco~e, and the amount of super-tax on the whole of the earned income, if any, included in the total income, if such earned income had been the total income; and (3) whs-e the earned income included in the total income exceeds rs 1,00,000, five per cent of the di1!erence between the amount of super-tax which would have been payable on the whole of the earned income included in the total income, if such earned income had been the total income and the amount of super-tax payable on a total income of rs 1,00,000  paragraph b in the case of every local authority, rate of ~-tar on the whole of the total income surc1targe oft super-t&tthe amount of super-tax computed at the rate hereinbefore specified shall be increased by a surcharge of 12i% thereon paragraph c in the case of every association of persons being a co-op~rative society as defined in clause (58) of section 2 of the income-tax act, jtate oj s'uper-tax nil (1) on the first rs 25,000 of total income (2) on the balance of total income 16%  surcharge on super-tarthe amount of super-tax computed at the rates hereinbefore apecified shan be increased by a surcharge of 12t% thereon  paragraph d in the case of every company, rates of super-taxon the whole of the total income, 50% provided that,-(i) a rebate at the rate of 40 per cent on so much of the total income as consists of dividends from a subsidiary indtan company and a rebate at the rate of 35 per cenl on the balance of the tot&) income shall be allowed in the case of any company which-(a) in respect at its profits liable to tax under the incometax act for the year ending on the 31st day of march, 1958, has made the prescribed arrangements for the declaration and paym('nt within india of the dividends payable out of such profits and for the deduction of super-tax from dividends in accordance with the provisions of sub-section (3d) of section 18 of that act; and (b) is such a company as is referred to in sub-section (9) of section 23a of the income-tax act with a total income not exceeding rs 25,000; (ii) a rebate at the rate of 40 per cent on so much of the total income as consists of dividends from a subsidiary indian coijlpany and a rebate at the rate of 30% on the balance of the total income shall be allowed in the case of any company which satisfies condition (a) but not condition (b) of the preceding clause; (iii) a rebate at the rate of 40% on iso much of the total income as consists of dividends from a subsidiary iudian company and a rebate at the rate of 20% on the balance of the total income shall be allowed in the case of any cornpant' not entitled te a rebate ilnder either of the preceding clauses: provided further that,--(i) the amount of the rebate under clause (i) or clause (ii) shall be reduced by the sum, if any, equal to the amount or the aggregate of the amounts, as the case may be, computed al hereunder: -the whole amount of such part ii of 19s6 (a) on that part of the sum arrived at in accordance with clause (i) of the second proviso to paragr,aph d of part ii of the first schedule to the finance act, 1956, as is referable to that amount of bonus shares, bonus or dividends, as the case may be, which has not been deemed to have been taken into account, in accordance with clause (ii) of the said proviso, for the purpose of reducing the rebate mentioned therein to nil at the rate of 30" (b) on the amount representing the face value of any bonus shares or the amount of any bonus issued to its shareholders during the previous year with a view to increasing the paid-up capital except to the extent to which such bonus shares or bonus have been issued out of premiums received in cash on the issue of its shares; and (c) in addition, in the case of a company referred to in clause (ii) of the preceding proviso which has distributed to its shareholders during the previous year dividends in excess of six per cent of its paid-up capital, not beini dividend payable at a fixed rate--at the rate ot 10% on that part 01 the  said dividends which exceeds 6 per cent but does not exceed 10 per cent of the paid-up capital; at the rate of 20% on that part ot the said dividends which exceeds 10 per cent but does not exceed 18 per cent of the paid-up capital; on that part of the said dividends at the rate of which exceeds 18 per cent of 30% the paid-up capital (ii) where the sum arrived at in accordance with clause (i) of this proviso exceeds the amount of the rebate arrived !it in accordance with clause (i) or clause (ii), as the case may be, of the preceding proviso, only so much of the amounts of reduction mentioned in sub-clauses (a), (b) and (c) of clause (i) of this proviso as is sufficient, in that order, to reduce the rebate to nil shall be deemed to have been taken into account for the purpose: provided further that the super-tax payable by a company, the total income of which exceeds rupees twenty-five thousand shall not exceed the aggregate of-(a) the super-tax which would have been payable by the company if its total income had been rupees twentyfive thousand, and (b) half the amount by which its total income exceeds rupees twenty-five thousand  explanation-for the purposes of this paragraph-(i) the expression "paid-up capital" means the paid-up capital (other than capital entitled to a dividend at a fixed rate) of the company as on the first day of the previous year relevant to the assessment for the year ending on the 31st day of march, 1958, increased by any premiums received in cash by the company on the issue of its shares, standing to the credit of the share premium account as on the first day of the previous year aforesaid; (ii) the expression "dividend" shall be deemed to include any distribution included in the expression "dividend" as defined in clause (6a) of section 2 of the income-tax act; t iit) where any portion of the profits and gains of the compan; is not included in its total income by reason of such portiod being exempt from tax under any provision of the incom~ tax act, the "paid-up capital" of the company, the amount distributed as dividends (not being dividends payable !it a fixed rate), the amount representing the face value of an, bonus shares and the amount of any bonus issued to the share-holders shall each be deemed to be such proportion thereof as the total income of the company for the previous year bears to its total profits and gains for that year other than capital receipts, reduced by such allowances as may be admissible under the income-tax act which have not been taken into account by the company in its profit and loss account for that year  (see section 12) part i in the first schedule to the tariff act,-(i) in items nos 3, 3 (4), 4, 5 (1), 11, 11 (2), 11 (4), 11 (5), 12, 15, 15 (1), 15 (2), 15 (4), 15 (8), 16 (2), 21 (2), 23, 25 (7), 27 (2), 28(5), 28(6) (a), 28(6) (b), 28(7), 28(8), 28(16), 28(17), 28(19), 30(8),30(10),32(4),34(1),34(2),36,39(1),40,40(3),40(4),40(5), 46 (1), 47 (1), 47 (3), 47 f4), 47 (5), 47 (7), 50, 50 (1), 50 (2), 50(4), 50(6), 50(7), 52(1), 58, 58(2), 59(6), 63(18) (b), 63(28), 64(4) (b), 65(a), 65(b), 66(a), 66(b), 66(1·), 67, 67(1), 68, 69(2), 70, 70(1), 70(3), 70(6), 70(9), 71(1), 71(11), 72(6), 72(12), 73(2), 73(6), 74 (1), 75, 75 (4), 76 (3), 82 and 82 (3), for the existing entries against each of them in the fourth column, the entry "35 per cent ad valorem" shall be substituted; (ii) in item no3 (1), for the existing entry in the fourth column, the entry "one rupee per indian maund of 82-2/7 lbs plus 10 per cent ad valorem" shall be substituted; (iii) in items nos 3(2), 43, 63, 63(1), 63(4), 63(5), 63(7), 63(11), 63(13), 63(22), 63(23), 63(26), 63(35), 73(3), 74(2), 74 (3) and 76 (lj, for the existing entries against each of them in the fourth column, the entry "20 per cent ad valorem" shan be substituted; (iv) in items nos 3 (3), 5 (2), 11 (3), 12 (2), 18 (2), 13,(4), 30 (5) and 50 (8), for the existing entries against each of them in the fourth and sixth columns, the entries "40 per cent advalorem" and "30 per cent ad valorem" respectively shall be substituted; (v) item no 4(3) shall be omitted; (vi) in items nos 5, 14, 28(31)(a), 28 (34)(a), 30(9)(a) and 64 (a), for the existing entries against each of them in the fourth column, the entry "30 per cent ad valorem" shall be substituted; (vii) in items nos 7 and 8, for the existing entries against each of them in the fourth and sixth columns, the entries "45 per cent ad v4lorem" and "35 pe~ cent ad valore1'jl" respectively shall be substituted; (viii) in items nos 8(3),11(6) (b), 2u(4), 21(1), 22, 25(3), 33, 33(1), 45(b), 45(c), 53, 55, 58(1), 59(1), 63(16), 64(3) (b) and 71 (7), for the existing entries against each of them in the fourth column, the entry u50 per cent ad valorem" shall be substituted; (ix) in item no9, for the existing entries in the fourth and sixth columns, the entries "40 per cent ad valorem plus six naye paise per lb" and "40 per cent ad valorem" respectively shall be substituted; (z) in item no 9 (1), for the existing entries in the fourth and sixth columns, the entries u50 per cent ad vclorem" and "40 par cent ad valonm" respectively shall be substituted; (~) in item no 9 (2), for the existing entries in the fourth and sixth colum~s, the entrlell usixty naye paise per lb" and uforty eight naye paise per lb" respectively shall be substituted; (zii) in items nos 9 (3) and 9 (4), for the existing entries against each of them in the fourth and sixth columns, the entries "82i per cent ad valorem" and "75 per cent ad valorem" respectively shall be substituted; (ziii) in item no 9(5), for the existing entry in the fourth column, the entry urs 1·03 per lb" shall be substituted; (xiv) in items nos 11(6) (a), 17(1), 28(11), 28(12), 28(31) (b), 28(34) (b), 30(9) (b), 64(b), 64(3) (a), 70(5) and 72(33), for the existing entries against each of them in the fourth column, the entry "40 per cent ad valorem" shall be substituted; (xv) in items nos 12(5), 13(1), 22(7), 40(1) and 71(6), for the existing entries against each of them in the fourth column, the entry "5 per cent ad valorem" shall be substituted; (xvi) in item no 13 (6), for the existing entry in the fourth column, the entry "rs 40 per seer of 80 tolas or 25 per cent ad valorem, whichever is higher" shall be substituted; (xvii) in items nos 15 (6) and 15 (7), for the figures "35" and "25" against each of them in the fourth and sixth columns, the figures "45" and "35" respectively shall be substituted; (xviii) in items nos 17 and 17(3), for the existing entries against each of them in the fourth column, the entry "the rate at which excise duty is for the time beine leviable on sugar, other than khandsari or palmyra sugar, produced in india plus rs 10 per cwt" shall be substituted;  (m) in items nos 17 (2), 19, 31 (5), 36 (2), 45 (a), 45 (5), 45(6), 59(2), 59(3), 59(5), 60(1) (a), 60(1) (b), 60(3), 75(6) (b), 75(7) (b), 75 (7a) (b), 75(8) (b), 82(2) and 83, for the existing entries against each of them in the fourth column, the entry "75 per cent ad valorem" shall be substituted; (xz) in item no 20 (2), for the existing entries in the fourth and sixth colulildb, the entries "75 per cent ad valorem" and "65 per cent ad valorem" respectively shall be substituted; (m) in items nos 20 (5) (a) and 20 (8) (a), for the existing entries against each of them in the fourth column, the entry "39 per cent ad valorem" shall be substituted; (xxii) in items nos 20(5) (b), 20(8)(b) and 20(9) (b), for the existing entries against each of them in the fourth column, the entry "45 per cent ad valorem" shall be substituted; (xxiii) in item no 20 (9) (a), for the existing entry in the fourth column, the entry "37 per cent ad valorem" shall be substituted; (xxiv) in item no 22(1), for the existing entries in the fourth column against sub-items (a), (b), (e) and (d), the entries "rs 4·50 per imperial gallon", "75 naye paise per bottle", "40 naye paise per bottle" and "20 naye paise per bottle" respectively shall be substituted; (xxv) in item no 22 (2), for the existing entries in the fourth column against sub-items (b), (e) lind (d), the entries ~'rs 1· 50 per bottle", "75 naye paise per bottle" and "40 naye paise per bottle" respectively shall be substituted; (xxvi) in item no 22(4)-(1) for the existing entries in the fourth column against each of the sub-items (a) and (b) (it), the entry "rs 120 per ·imperial gallon of the strength of london proof or 100 per cent ad valorem, whichever is higher" shall be substituted; (2) for the existing entry in the fourth column against sub-item (b) (i), the entry "rs 150 per imperial gallon or 100 per cent ad valorem, whichever is higher" shall be substituted; and f· (3) proviso (a) shall be omitted; (%%vii) in item no 22(5~-(1) for the existing entries in the fourth and sixth columns against sub-item (a) (i), the entries "rs 73 per imperial gallon or 45 per cent ad valorem, whichever is higher" and "rs 68 per imperial gallon or 35 per cent ad valorem, whichever is higher" respectively shall be substituted; (2) for the existing entries in the fourth and sixth columns against each of the sub-items (a) (ii) and (d), the entries "rs 55·25 per imperial gallon of the strength of london proof or 45 per cent ad valorem, whichever is higher" and "rs 51·50 per imperial gallon of the strength of london proof or 35 per cent ad valorem, whichever is higher" respectively shall be substituted; (3) for the existing entries in the fourth, fifth and sixth columns against sub-item (b) (i), the entries "rs 48 per imperial gallon or 45 per cent ad valorem, whichever is higher", "rs 44 per imperial gallon or 35 per cent ad valorem, whichever is higher" and "rs 44 per imperial gallon or 35 per cent ad valorem, whichever is higher" respectively shall be substituted; (4) for the existing entries in the fourth, fifth and sixth columns against sub-item (b)(ii), the entrjes "rs 35 per imperial gallon of the strength of london proof or 45 per cent ad valorem, whichever is higher", "rs 32 per imperial gallon of the strength of london proof or 35 per cent ad valorem, whichever is higher" and "rs 32 per imperial gallon of the strength of london proof or 35 per cent ad valorem, whichever is higher" respectively shall be substituted; and (5) proviso (a) shall be omitted; (xxviii) in item no 22 (6), for the existing entry in the fourth column, the entry "15 per cent ad valorem" shall be substituted; (xxix) in item no 24, for the existing entry in the fourth column, the entry "rs 17 per lb" shall be substituted; (xxx) in item no 24(1), for the existing entry in the fourth column, the entry "40 per cent ad valorem plus rs 16·50 per lb" shall be substituted; (xxxi) in item no 24 (2), for the existing entry in th fourth column, the entry "40 per cent ad valorem, plus rs 41 per thousand or rs 16·50 per lb whichever is higher" shall b£ substituted; (xzxii) in item no 24 (3), for the existing entries in the fourth and sixth columns, the entry "rs 10 per lb" shall be substituted ; (ouxiii) in item no 25-(a) in the third column, the word "revenue" shall be inserted, and (b) for the existfng entry in the fourth column, the entry "10 per cent ad valorem" shall be substituted; (:=xiv) in item no 25 (4), for the existing entries in the fourth and fifth columns, the entries "50 per cent ad valorem" and "40 per cent ad valorem" respectively shall be substituted; (zz,rv) in item no 25(5), for the existing entry in the fourth column, the entry "rs 30 per ton" shall be substituted; (ouxvi) in item no 27, for the existing entry in the fourth column, the entry "eighty naye paise per ton" shall be substituted; (xxxvii) in items nos 27 (4) (a) and 27 (4) (b), for thp existing entries against each of them in the fourth column, the entry "20 naye paise per imperial gallon" shall be substituted; (xxxviii) in item no 27(5), in the fourth column, for the words and figures "three annas per imperial gallon or 15 per cent ad valorem", the words and figures "twenty naye paise per imperial gallon or 16 per cent ad valorem" shall be substituted; (xx:ri:r) in item no 27 (7) (a), for the existing entry in the fourth column, the entry "rs 20 per ton or 16 per cent ad valotem, whichever is higher" shall be substituted; (xl) in items nos 27(7)(b)(l) and 27(7)(b)(2), fat' the figures "15" against each of them in the fourth column, the figures "16" shall be substituted; (xli) in item no 27 (8), for the existing entry in the fourth column, the entry "twenty naye paise per imperial gallon or 16 per cent ad valorem, whichever is higher" shall be substituted; (xlii) in items nos 28, 28 (18) (a), 28 (18) (b), 28 (18) (c) and 28 (18) (d), for the existing entries against each of them in the fourth, fifth and sixth columns, the entries "40 per cent ad valorem", "30 per cent, ad valorem" and "30 per cent ad l1alorem" respectively shall be substituted; (xliii) item no 28 (2) shall be omitted; (xliv) in items nos 28(3) and 39-(a) in the third column against each of them, the word "revenue" shall be inserted, and (b) for the existing entries against each of them in the fourth column, the entry "5 per cent ad valorem" shall be substituted; (xlv) in item no 28(4) (a), for the existing entry in the fourth column, the entry "rs 4·25 per cwt" shall be substituted; (xlvi) in item no 28 (4) (a), for the existing entry in the fourth column, the entry "rs 5·75 per cwt" shall be substitutedt (xlvii) in items nos 28 (7a), 61(7), 75(6)(a), 75 (7)(a), 75(7a) (a) and 75(8)(a), for the existing entries against each of them in the fourth column, the entry "65 per cent ad valorem" shall be substituted; (xlviii) in item no 28 (6), for the words "magnesium and zinc compounds not otherwise specified" appearing in the second column, the words "magnesium and zinc compounds not otherwise specified, green copperas (ferrous sulphate) " shall be substituted; , (xlix) in item no 26 (9), for the existing entry in the fourth column, the entry "rs 6 per lb" shall be substituted; (l) in item no 26 (10), for the existing entry in the fourth column, the entry "25 per cent ad valorem or rs 6 per pound of saccharine content, whichever is higher" shall be substituted; (ii) in item no 28 (15) (a), for the existing entry in the fourth column, the entry "rs 3· 50 per cwt" shall be substituted; (iii) in item no 28(15) (b), for the existing entry in the fourth column, the entry "rs 5 per cwt" shall be substituted; (!iii) in item no 28 (20), for the figures and words "31," and "8 annas" in the fourth column against each of the subitems, the figures and words "35" anti "50 naye paise" respectively shall be substituted; (liv) in item no 28(26), for the existing entries in the fourth, fifth and sixth columns, the entries "26 per cent ad valorem", "20 per cent ad valorem" and "20 per cent ad valorem" respectively shall be substituted; (lv) in item no 28(32), for the existing entries in the fourth column against sub-items (a) and (b), the entries "50 per cent ad valorem" and "60 per cent ad valorem" respectively shall be substituted; (tvi) in item no 29, for the existing entry in the fourth column, the entry "rs, 1·75 per 100 linear feet" shall be substituted; (lvii) in item no 29(1), for the existing entry in the fourth column, the entry "50 naye paise per linear foot" shall be substituted; (lviii) in item no 30, for the figures "36" and "24" in the fourth and fifth columns, the figures "40" and "30" respectively shall be substituted; (lir) in item no 30 (2)-(1) for the figures and words "30 per cent ad valorem or rs 4-12 per cwt, whichever is higher, plus one-fifth of the total duty" in the fourth column against sub-item (a), the figures and words "40 per cent ad valorem" shall be substituted; (2) for the figures and words "30 per cent ad valorem or rs 5-12 per cwt, whichever is higher, plus one-fifth of the total duty" in the fourth column against sub-item (b), the figures and words "40 per cent ad valorem" shall be substituted; (3) for the figures and words "30 per cent ad valorem or rs 6 per cwt, whichever is higher, plus one-fifth of the total duty" in the fourth column against sub-item (c), the figures and words "40 per cent ad valorem" shall be substit~ted; (4) for the word and figures "rs 8-8" in the fourth column against sub-item (cc) (i), ,the word and figures "rs 8·50" shall be substituted; (5) for the word and figures "rs 11-4" in the fourth column against sub-item (cc) (ii), the word and figures "rs 11·25" shall be substituted; and (6) for the figures "24" in the fifth column against each of the sub-items (a), (b) and (c), the figures "30" shall be substituted; (lx) in item no 30(3), for the existing entries in the fourth column against each of the sub-items (a), (b), (c) and (d), the entry "35 per cent ad valorem plus the excise duty for the time being leviable on like articles if produced or manufactured in india, and where such duty is'leviable at different rates, the hi"hest duty" shall be substituted; (lri) in item no 30 (4), for the figures "25" in the tourth column, the figures "35" shall be substituted; (lxii) in items nos 30(7) and 45(4), for the existing entries against each of them in the fourth column, the entry "15 naye paise for every length of 7i inches or part thereof or 75 per cent ad valorem, whichever is higher" shall be substituted; (lriii) in item no 30 (14) (a), for the figures "34" in the fourth column, the figures "35" shall be substituted; (lxiv) in item no 30 (14) (b), for the figures "44" in the fourth column, the figures "45" shall be substituted; (lxv) in items nos 32, 32(1), 32(2), 37,37(1), 37(2), 38, 40(2), 42, 50(5), 61(4), 61(6), 61(9), 61(10), 70(10), 70(11), 71(2), 71 (3), 82 (1) and 85 (2), for the existing entries against each of them in the fourth column, the entry "100 per cent ad valorem" shall be substituted; (lxvi) in items nos 34, 34(3), 61(5), 61(8), 80, 80(1), 80(2) (a), 80(2) (b), 80(2) (c), 80(2) (d), 80(2) (e), 80(2) (f), 80 (2) (g), 80 (4), 81, 84 (a) and 85 (1), for the existing entries against each of them in the fourth column, the entry "80 per cent ad valorem" shall be substituted; (lxvii) in item no 44, for the figures "37i" in the fourth column, the figures "40" shall be substituted; (lxviii) in items nos 44 (4) and 44 (7), for the figures "66-2/3" against each of them in the fourth column, the figures "75" shall be substituted; (lrix) in item no 46, for the existing entry in the fourth column, the entry "35 per cent ad valorem plus rs 4 per lb" shall be substituted; (lxx) in item no 46 (3), for the existing entry in the fourth column, the entry "12 naye paise per lb" shall be substituted; (!xxi) in item no 47 (6) (a), for the figures "5" and "6i" in the fourth column against sub-item (i) and (ii), the figures "61" and "71" respectively shall be substituted; (txrii) in item no 47 (6) (b) (i), for the existing entry in the fourth column, the entry "61 per cent ad valorem or 10 naye paise per lb, whichever is higher" shall be substituted; (lxxiii) in item no 47 (6) (b) (ii), for the existing entry in the fourth column, the entry "7i per cent ad valorem or 15 naye paise per lb, which~'ter is higher" shall be substituted; (lxxiv) in items nos 47(8), 71(5), 72(34), 72(40) (a) and 72 (40) (b), for the existing entries against eaoh of them in the fourth column, the entry "10 per cent ad valorem" shall be substituted; (lxxv) in item no 48-(1) for the existing entries in the fourth column against each of the sub-items (a) and (b), the entry "120 per cent ad valorem plus rs 850 per lb" shall be substituted; and (2) for the existing entry in the fourth column against sub-item (c), the entry "120 per cent ad valorem plus rs 6·25 per lb" shall be substituted; (lxxvi) in items nos 48 (1) (a) and 48 (5) (b) (i) for the figure and words "7 annas per square yard" against each of them in the fourth column, the figures and words "45 naye paise per square yard" shall be substituted; (lxxvii) in items nos 48 (1) (b) and 48 (5) (b) (li), for the figures and words "14 annas ~er square yard" against each of them in the fourth column, the figures and words "90 naye paise per square yard" shall be substituted; (lxxviii) in item no 48 (5) (a) (i), for the figures and words "51 annas per square yard" in the fourth column, the figures and words "35 naye paise per square yard" shall be substituted; (lxxix) in item no 48 (5) (a) (ii), for the figures and words "11 annas per square yard" in the fourth column, the figures and words "70 naye paise per square yard" shall be substituted; (1xzx) in items nos 49(a) and 49(b), for the words "the ad valorem rates of duty" against each of them in the fourth column, the figures and words "ii times the ad valotem rates of duty" shall be substituted; (i:uxi) in item no 49 (5), for the existing entry in the fourth column, the entry "50 naye paise per lb" shall be substituted; (lxxxii) in item no 54 (2), for the existing entry m the fourth column, the entry "35 per cent ad valorem or 25 naye paise per pair, whichever is higher" shall be substituted; (!xxxiii) in item no 59(4), for the existing entry in the fourth column, the entry "75 per' cent ad valorem or 80 naye paise per square foot, whichever is higher'~ shall be substituted; (lr-rriv) in items nos 60, 60(6) and 60(7), for the existing entry in the fourth column, the entry "70 per cent ad valorem" shall be substituted; (lrxxv) in item no 60(8)(a), for the existing entry in the fourth column, the entry "75 per cent ad valorem or rs 4·!50 per flask, whichever is higher" shall be substituted; (lx-rxvi) in item no 60(8)(b), for the existing entry in the fourth column, the entry "75 per cent ad valorem or rs 3·50 per refill or inner, whichever is higher" shall be substituted; (lxxxvii) in items nos 61 (2) and 62 (1), for the existing entries against each of them in the fourth column, the entry "50 naye paise per ounce" shall be substituted; (lxrrix) in items nos 61(3) and 62(2), for the existing entries against each of them in the fourth colum~, the entry "ri 30 per tola of 180 grains fine" shall be substituted; (xc) in item no 63 (3)-(1) for the existing entry in the fourth column against sub-item (i), the entry (irs 31 per ton or 10 per cent ad valorem whichever is higher", shall be substituted; and (2) for the existing entry in the fourth column against sub-item (ii), the entry "rs 60 per ton or 20 per cent ad valorem, whichever is higher", shall be substituted; (xci) in item no 63(6), for the existing entry in the fourth column against sub-item (ii) , the entry "rs 75 per ton" shall be substituted; (xcii) in item no 63 (8), for the existing entry in the fourth column, the entry "rs 5 per ton or 20 per cent ad valorem, whichever is higher" shall be substituted; (xciii) in item no 63(10), for the existing entries in the fourth column against sub-items (i) and (ii), the entries "rs 60 per ton" and "rs 81 per ton" respectively shall be substituted (xciv) in items nos 63(14), 63(24), 63(34)(a), 63 (34)(b ) and 63 (34) (c), for the existing entries against each of them in the fourth and fifth column's, the entries "25 per cent ad valorem" and "15 per cent ad valorem" respectively shall be substituted (xcv) in item no 63(17), for the existing entries in the fourth column against sub-items (i) and (ii), the entries "as 32 per ton or 10 per cent ad valorem, whichever is higher" lnd "rs 55 per ton" respectively shall be substituted; (xcvi) in item no 63 (20)-(1) for the existing entry in the fourth column agains~ sub-item (a)(l)(i), the entry "rs 29 per ton or 10 per cent ad valorem, whichever is higher" shall be substituted; (2) for the existing entry in the fourth column, against sub-item (a)(1)(ii), the entry "rs 50 per ton" shall be substituted; (3) for the existing entry in the fourth column against sub-item (a)(2)(i), the entry "rs 30 per ton or 10 per cent ad valorem, whichever is higher" shall be substituted; (4) for the existing entry in the fourth column against sub-item (a)(2)(ii), the entry "rs 60 per ton" shall be substituted ; (5) for the,existing entries in the fourth column against each of the sub-items (b) (1) (i) and (b) (2, (1), the entry "rs 32 per ton or 10 per cent ad valorem, whichever is higher" shall be substituted; (6) for the existing entry in the fourth column against sub-item (b)(1)(ii), the entry "rs 55 per ton" shall be substituted; and (7) for the existing entry in the fourth column against sub-item (b)(2)(ii), the entry "rs 65 pel" ton" shall be substituted; (xcvii) in item no 63 (21)- (1) for the existing entries in the fourth column against each of the sub-items a(a)(i) and b(a)(i), the entry ''rs 10 per ton or 15 per cent ad valorem, whichever is higher" shall be substituted; (2) for the existing entries in the fourth column against each of the sub-items a(a)(ii) and b(a)(ii), the entry "rs 10 per ton or 25 per cent ad valorem, whichever is higher" shall be substituted; (3) for the existing entries in the fourth column against each of the sub-items a(b)(i) and d(i), the entry "rs 31 per ton or 10 per cent ad valorem, whichever is higher" shall be substituted; (4) for the existing entries in the fourth column against each of the sub-items a(b)(ii) and d(b), the entry "rs 60 per ton" shall be substituted; (5) for the existing entry in the fourth column against sub-item b(b)(i), the entry "rs 33 per ton or 10 per cent ad valorem, whichever is higher" shall be substituted; (6) for the existing entry in the fourth column against sub-item b(b)(ii), the entry "rs 65 per ton" shall be substituted; (7) for the existing entry in the fourth column against sub-item c(i), the entry "rs 10 per ton or 10 per cent ad valorem, whichever is higher", shall be substituted; (8) for the existing entry in the fourth column against sub-item c(ii), the entry "rs 10 per ton or 20 per cent ad valorem, whichever is higher" shall be substituted; (9) for the existing entries in the fourth column against each of the sub-items e(i) and f(i), the entry "rs 30 per ton or 10 per cent ad valorem, whichever is higher" shall be substituted; and (10) for the existing entries in the fourth column against each of the sub-items e(ii) and f(ii), the entry "rs 80 per ton" shall be substituted; (xcviii) in item no 63(25), for the existing entries in the fourth column against sub-items (i) and (ii), the entries "25 per cent ad valorem" and "25 per cent ad valorem plus rs 35 per ton" respectively shall be substituted; (xcix) in item no 63(27), for the existing entries in the fourth column against sub-items (i) and (ii), the entries "rs 15 per ton or 15 per cent ad valorem, whichever is higher" and "rs 42·50 per ton or 25 per cent ad valorem, whichever is higher" respectively shall be substituted; (c) in item no 63 (30), for the existing entrtes in the fourth column against sub-items (a) and (b), the entries "35 per cent ad valorem" and "45 per cent ad valorem" respectively shall be substituted; (ci) in item no 63(31), for the existing entries in the fourth colunln against sub-items (a> and (b), the entries "rs 29 per ton or 10 per cent ad valorem, whichever is higher" and "rs 50 per ton" respectively shall be substituted; (cii) in item no 63(32), for the existing entries in the fourth column against sub-items (a) and (b), the entries "rs 50 per ton" , and "rs 85 per ton" respectively shall be substituted; (chi) in item no 63(33)(a), for the existing entry in the fourth column, the entry "35 per cent ad valorem or 35 naye paise per gross, whichever is higher" shall be substituted; (civ) in item no 63(33) (b), for the existing entry in the fourth column, the entry "50 per cent ad valo?,em or 60 naye paise per gross, whichever is higher" shall be substituted; (cv) in items nos 64(4)(a), 67(2), 68(2) and 70(2), for the existing entries against each of them in the fourth column, the entry "25 per cent ad valorem" shall be substituted; (cvi) in item no 71(4), for the existing entry in the fourth column, the entry "ten naye paise per lb" shall be substituted; (cvii) in item no 71(10)(b), for the figure and words "3 annas per dozen" in the fourth column the words and figures "rs 2·25 per gross" shall be substituted; (cviii) in item no 71(13), for the figures and words "15 annas per foot" in the fourth column against each of the sub-items (a), (b) and (c), the words "one rupee per foot" shall be substituted; (cir) in item no 72(10), for the existing entries in the fourth and fifth columns, the entries "40 per cent ad valorem" and "30 per cent ad valorem" respectively shall be substituted; (cx) in items nos 72(35), 72(36) and 72(37), for the existing entries against each of them in the fourth column, the entry "95 per cent ad valorem" shall be substituted; (cxi) in item no 73(1), for the words "and wires and cables of other metals of not more than equivalent conductivity" in the second column, the words "and wires and cables of other metals and alloys of not more than equivalent conductivity" shall be substituted; (crii) in item no 73(7)(b), for the figures "3li" in the fourth "olumn, the figures "35" shall be substituted; (criii) in item no 73(15), for the figures "451" in the fourth column, the figures "50" shall be substituted; (criv) in item no 74, for the existing entries in the fourth column against sub-items (a) and (b), the entries "rs 20 per ton or 15 per cent ad valore:n, whichever is higher" and "rs 60 per ton or 25 per cent ad valorem, whichever is higher" respectively shall be substituted; (corv) in item no 75 (2), for the existing entries in the fourth and fifth columns, the entries "47-i per cent ad valorem" and "40 per cent ad valorem" shall be substituted"; (cxvi) in items nos 75(3) and 75(13), for the existing entries against each of them in the fourth and fifth columns, the entries "321 per cent ad valorem", and "25 per cent ad valorem" respe(:-tively shall be substituted; (cxvii) in item no 75(5)(a), for the existing entry in the fourth column, the entry "65 per cent ad valorem or rs 80 per cycle, whichever is higher" shall be substituted; (cxviii) in item no 75(5)(b), for the existing entry in the fourth column, the entry "rate of duty actually charged at the time for such products of the united kingdom origin plus 10 per cent ad valorem" shall be substituted; (cxix) in item no 76, for the existing entry in the fourth column, the entry "3 per cent ad valorem" shall be su~stituted; (ax) in item no 77(3), for the existing entries in the fourth and sixth columns, the entries "30 per cent ad valotem" and "20 per cent ad valorem" respectively shall be substituted, ' partll in the first schedule to the tarift act, for items nos 18, 21, 30(2)(d), 34(4), 46(4), 47, 63(2), 63(9), 63(19), 63(29), 72(4), 73(5) and 87, the following items shall respectively be substituted, namely:-item n_olmcle nature of duty standard rate of preferential rate of duty if the article no duty is the produqe or manufacture of duration of ~ tcctive rates of duty the united kinadom a british colony i 2 3 4 5 6 7 "18 cocoa and chocolate other than confectiooery-(ei) cocoa pow« protective 35 per cent tid valomrt dcamber 311t, 1957· 50 per cajt" tjei-lor or re i per lb, wbichever is higher (6) cloooiate other than confectionery pnt  -riwe dcamber 311t, 1957 - 75 r:r- cent tjil ti/j-21 provisions, canned, botticd or otherwise pecked for retiil sale, not ofbenriae specified revame 30 (2) (4) paints, other sorts, coiourd, preferential reyed1ic 40 per cent tid -30 per cent tjil 011-moist ioras plua the ex-ior_ plus the c:isc duty for the exc:isc duty for the time being jeoriable time being leviable oil like uticlea if oil like artidei if produced or manuproduced or manufa:tured in india, &ctured in india, and where such and where auc:h duty is leviable at duty is leviable it different rates, the different rates, the highest duty higbeat duty 34 (of) matches, undipped spiinu and veneers-(,,) matdici protcctift one daya paisa for every 10 matches or pan thereof (6) undipped spiinu sac:b protcc:tive so oaye paise per lb is are onlinarily used for match-making (e) veoecn such as are ordi-protective  60 aye paise per lb oari1y used for makins boxes, including boxes and parts of boxes made of such veoeen 46 (4) tc:ztile materials, the fojlowmg-(,,) raw hemp - revalue 2s per cent ad ~ rem (6) raw flax, jute and an revenue  3s per cent 1m other u1ljiiidt1fiict ~ textile materials not otherwise speci6cd 47 silk yam including thrown s!lk warps and yam spun from silk _te or noils, but aduding sewing thread-- (,,) silk yam including protective 3s per cent ad december 31st, 19s5 thrown si1k warps 0tii0mrt plus ri 4 per lb (6) yam spun from &ilk protective 3~ cent ad december 31st, i9ss waste plus rs s'2s per lb (e:) yam spun from noi1s - protective 3s per cent ~ ad december 31st, 19s8 ----__---s 6 7 i 3 4 2 63 (2) iron or steel angle, channel, tee, flat {other than alloy, tool or special steel specified in item no 63 (30)], beam, zed, trough and piling-(ii) not fabricated-- () of british dwiufac:ture revenue ri z2 per ton or 10 per cent ad vajormt, whichever is higher  (ia) oot of british manu-revenue facture ri 65 per ton (b) fabricated - revenue ri 60 per ton 63 (9) iron or steel structures, fabricated partially or wholly, dot otherwise specified, if made mainly gr wholly of iron or steel bars, sections, plates or sheets, for the coostruction of buildings, bridges, tanks, well curbs, tn:sdes, towers and similar struc:tures or for parts thereof, but not indudina: builders' hardware or any of die articles specified in items nos 72 ']2(3), 74(1) 7s(3), 75(4) or 76(1) revenue rs 60 per ton 63(19) iroo or steel plates ezcludiog cut iron piatci-(a) not fabriomd-(j) of bridllh manufacture revenue  ri 15 per ton or 10 per cent ad _-w,",, whichever is higher (ia) not of british dl8ilu-revanie rs 40 per too facture (b) fabricated revenue ri 60 per ton 63(29) eoame11ed ironware, the follawidg, namely :-(a) sign-boards revenue so per cent ad fjq/or- (b) domestic hollow-ware, revenue 50 j:", cent ad the following, li8dlcly, ti - basins, bowls, dishes, plates and thal3s indud-jdg rioe-cups, rice-bow15 and rice-platcs 72 (4) passenger lifts and c:scalators, and component parts and accessories tbereof-(a) puseoger lifts add (x)ijl- reveouc 25 per cent ad ponent parts and iicces-fxjiorem sarles thereof (b) escalators and component revenue 3s per cent ad parts and accessories vajor- 1:hem>f s 6 i 2 3 4 7 13(s) hkctrical earthenware and porcelain, the following, diiilely:-«(i) idauiaton, sbadde, sin- revenue clair, corde&wi: or pin-~ not otherwise ape-60 per cent ad f1cilorem  (6) two-way cleats revenue 60 per cent ad fjcilorem (e) spac:iog'iniulators revenue 60 per cent ad fjcilorem (4) ceiling i'oici revenue 60 per cent ad wlorwft | (,)        | joint-box    ||------------|--------------|| cut-outs   |              || revenue    |              || 60         |              || per        |              || cent       | ad           || fnjiorwft |              |'7 all adler artidea not otherwise revarue specified 40 per cent ad f1glormt  part illin the first schedule to the tariff act, after item no 82(4), the following item shall be inserted:-| "82(5)             | adhesive    ||--------------------|-------------|| tape              |             || an                 |             || sorts,             |             || in-                |             || revenue            |             || eluding            |             || cellulose adhesive |             || tape               |             || and                |             || paper-l-=ted       |             || ad-                |             || hesive             |             || tape              |             || 7s                 |             || per                |             || cent               | ad          || fxilorem          |             |for the second schedule to the taritr act, the following shall be substituted, namely :- "the second schedule-export tariff| name                                    | of      | article                      ||-----------------------------------------|---------|------------------------------|| item                                    | no     |                              || rate                                    |         |                              || of                                      | duty    |                              || 1                                       |         |                              || raw jute (including bimlipatam jute and |         |                              || mesta                                   | fibre)- |                              || (i)                                     |         |                              || cuttings                                |         |                              || rs                                     |         |                              || 4'                                      | so      |                              || per bale                                | of      |                              || 400                                     |         |                              || ibs                                    |         |                              || (2)                                     |         |                              || all other descriptions                  |         |                              || rs                                     | 15      |                              || per bale                                | of      |                              || 400                                     |         |                              || lbs                                    |         |                              || 2                                       |         |                              || jute manufactures (including            |         |                              || man~                                    |         |                              || tures                                   | of      | bimlipatam jute              || mesta                                   |         |                              || fibre), when not                        | in      |                              || actual                                  |         |                              || use                                     |         |                              || as                                      | cover-  |                              || ings,                                   |         |                              || r~ptacles                               |         |                              || or bindings, for other                  |         |                              || goods-                                  |         |                              || (i)                                     |         |                              || sacking                                 |         |                              || (cloth,                                 |         |                              || bags,                                   |         |                              || twist, yam,                             |         |                              || rope                                    |         |                              || and                                     | twine)  |                              || rs                                     |         |                              || 350                                     |         |                              || per                                     |         |                              || ten                                     | of      |                              || 2240                                    |         |                              || ibs                                    |         |                              || (ii)                                    |         |                              || hessians                                |         |                              || rs 1,500                               |         |                              || per                                     | ton     | of                           || 22401bs                                |         |                              || cii,)                                   |         |                              || all other descriptions                  | of      | jute ma-                     || rs                                     |         |                              || 80 per ton                              | of      |                              || nufactures                              | not     | otherwise specified          || 2240                                    |         |                              || lbs                                    |         |                              || raw cotton                              |         |                              || 3                                       |         |                              || rs                                     |         |                              || 400                                     |         |                              || per bale                                | of      |                              || 400                                     |         |                              || lbs                                    |         |                              || cotton waste (all sorts)                |         |                              || so                                      |         |                              || per cent                                | ad     |                              || tl4-                                    |         |                              || lorem                                  |         |                              || rice, husked                            | or      | unhusked, including rice     || 20                                      |         |                              || per cent                                |         |                              || all                                     |         |                              || n-                                      |         |                              || flour                                   | but     | excluding rice bran and rice || lorem                                  |         |                              || dust                                   |         |                              |tea-when the price of tea :-(i) does not exceed rs 2' so per lb 25 naye paise per lb (ii) exceeds rs 2' 50 per lb but does 38 naye paise per lb not exceed rs 3' 25 per lb | item                                 | no         | name                    | of           | article    ||--------------------------------------|-------------|-------------------------|--------------|------------|| rate                                 |             |                         |              |            || of                                   | duty        |                         |              |            || (iij)                                |             |                         |              |            || exceeds                              |             |                         |              |            || rs                                  |             |                         |              |            || 3'                                   | 25          |                         |              |            || per                                  |             |                         |              |            || lb                                  | but         |                         |              |            || so                                   |             |                         |              |            || naye paise                           |             |                         |              |            || per                                  |             |                         |              |            || lb                                  |             |                         |              |            || does not                             |             |                         |              |            || exceed                               |             |                         |              |            || rs                                  |             |                         |              |            || 4'00                                 |             |                         |              |            || per lb                              |             |                         |              |            || (ill)                                |             |                         |              |            || exceeds                              |             |                         |              |            || rs                                  |             |                         |              |            || 4'00                                 |             |                         |              |            || per                                  |             |                         |              |            || lb                                  | but         | does                    |              |            || 63                                   |             |                         |              |            || naye paise                           |             |                         |              |            || per                                  |             |                         |              |            || lb                                  |             |                         |              |            || not exceed                           |             |                         |              |            || rs                                  |             |                         |              |            || 4                                    | '75         |                         |              |            || per lb                              |             |                         |              |            || (ii)                                 |             |                         |              |            || exceeds                              |             |                         |              |            || rs                                  |             |                         |              |            || 4'75                                 |             |                         |              |            || per                                  |             |                         |              |            || lb                                  |             |                         |              |            || 75                                   |             |                         |              |            || naye                                 |             |                         |              |            || paise                                |             |                         |              |            || per                                  |             |                         |              |            || lb                                  |             |                         |              |            || 25                                   |             |                         |              |            || per                                  |             |                         |              |            || cent                                 |             |                         |              |            || ad                                   | lialorem   |                         |              |            || &planation                           | :-'         |                         |              |            || price                                | of          | tea' means the          |              |            || price which the central government   |             |                         |              |            || may, having regard to world prices   |             |                         |              |            || of                                   |             |                         |              |            || tea,                                 |             |                         |              |            || fix                                  |             |                         |              |            || for this purpose from time to        |             |                         |              |            || time by notification in the official |             |                         |              |            || gazette                             |             |                         |              |            || ooth-                                |             |                         |              |            || 6                                    |             |                         |              |            || ic                                   |             |                         |              |            || cloth"                               | means cloth | of                      | any descrip- |            || tion manufactured either wholly      |             |                         |              |            || from cotton or partly from cotton    |             |                         |              |            || and partly from any other subs-      |             |                         |              |            || tance and containing not less than   |             |                         |              |            || ten                                  |             |                         |              |            || per                                  |             |                         |              |            || cent                                 | of          | cotton by weight,       |              |            || but                                  | does not    |                         |              |            || inc1ud~                              |             |                         |              |            || (i)                                  |             |                         |              |            || cloth                                | of          | hand loom manufacture ; |              |            || (if)                                 |             |                         |              |            || cloth in which the average count     |             |                         |              |            || of                                   |             |                         |              |            || yam,                                 |             |                         |              |            || determined                           | in          | the                     | man-         |            || ner herein described, is             |             |                         |              |            || i7s                                  |             |                         |              |            || or                                   |             |                         |              |            || finer                               |             |                         |              |            || &pltulllticm                         | :-(a)       |                         |              |            || "count"                              | means count |                         |              |            || of                                   |             |                         |              |            || grey                                 |             |                         |              |            || yam;                                 |             |                         |              |            || (6)                                  |             |                         |              |            || for                                  | the         | purpose                 | of           | de-        || tennining                            |             |                         |              |            || the                                  | average     |                         |              |            || count                                |             |                         |              |            || of                                   | yarn,       | the                     |              |            || following rules shall                |             |                         |              |            || apply,                               | namely:-    |                         |              |            |- (i) yam used in the borders or selvedges shall be ignored ; (ii) for multiple-fold yam, the count of the basic single yam shall be taken and the number of ends per inch in the reed or the number of picks per inch, as the case may be, 'shall be multiplied by the number of plies in the yarn ; |                                         | item                 | no          ||-----------------------------------------|----------------------|--------------|| name                                    | of                   | article      || rate                                    |                      |              || of                                      | duty                 |              || -----_                                  |                      |              ||                                       |                      |              || _--                                     |                      |              || (ii)                                   |                      |              || the                                     | average              | count        || shall                                   |                      |              || be                                      | obtained by          |              || applying                                |                      |              || the                                     | follow-              |              || ing formula, name-                      |                      |              || ly:-                                    |                      |              || cc                                      |                      |              || (count                                  | of                   | warp         || x                                       |                      |              || number                                  | of                   |              || ends                                    |                      |              || per                                     | inch                 | in           || reed)                                   |                      |              || +(                                      |                      |              || count                                   | of                   | weft         || x                                       |                      |              || number                                  | of                   | picks        || inch)                                  |                      |              || (number                                 | of                   |              || ends                                    |                      |              || per                                     |                      |              || inch                                    |                      |              || in                                      |                      |              || the-                                    |                      |              || reed)                                   |                      |              || +(number                                |                      |              || of                                      | picks                | per          || inch)                                   |                      |              || the                                     | result being rounded | o'ff,        || ever necessary, by treating any frac-   |                      |              || tion which                              |                      |              || is                                      |                      |              || one-half                                | or                   | snore        || as                                      |                      |              || one,                                    |                      |              || and                                     |                      |              || disregarding any frac-                  |                      |              || tion                                    | which                |              || is                                      |                      |              || less                                    |                      |              || than                                    |                      |              || one-half"                               |                      |              || j                                       |                      |              || (iii)                                   |                      |              || furnishing                              |                      |              || fabrics, hosiery, apparel,              |                      |              || blankets, bed-covers, towels, dus-      |                      |              || ters and napkins                       |                      |              || 7                                       |                      |              || manganese ore                          |                      |              ||                                        | 25                   |              || per cent                                |                      |              || ad                                      |                      |              || iia-                                    |                      |              || lorem                                  |                      |              || cigarettes, cigars and cheroots         |                      |              || 8                                       |                      |              || is per cent                             |                      |              || ad                                      |                      |              || iia-                                    |                      |              || lortim                                 |                      |              || mustard oil                             |                      |              || 50                                      |                      |              || naye paise per lb                      |                      |              || -                                       |                      |              || groundnut oil                           |                      |              || rs                                     |                      |              || 350                                     |                      |              || per ton                                 | of                   |              || 2240                                    |                      |              || lbs                                    |                      |              || 10                                      |                      |              || (a)                                     |                      |              || iron                                    | and                  | steel, other || than                                    |                      |              || sheets, the 45                          | per                  | cent         || ad                                      |                      |              || t:ia-                                   |                      |              || following                               | :-                   |              || lor                                     |                   |              || ingots ; blooms ; billets ; tinbars     |                      |              || j                                       |                      |              || sheet                                   |                      |              || bars                                    |                      |              || and                                     | slabs                |              || j                                       |                      |              || steel                                   |                      |              || castings;                               |                      |              || heavy                                   | strucrurals (in-     |              || cluding heavy sections                  |                      |              || of                                      | joists,              |              || channels and angles) ; light struc-     |                      |              || turals                                  |                      |              || (including light sections               | of                   |              || joists, channels, angles, tees and      |                      |              || light rails                             |                      |              || qf                                      |                      |              || 30                                      |                      |              || ibs and                                | under);              |              ||  tyres, wheels and axles ; shell steel |                      |              || ingots, blooms, billets and bars ;      |                      |              || heavy rails (over                       |                      |              || 30                                      |                      |              || ibs) ; fish                            |                      |              || plates                                  |                      |              || j                                       |                      |              || dog-spikes ; chair-spikes ;             |                      |              || screw-spikes ; tinplate ; terneplate ;  |                      |              || plates (ship-building); plates (ordi-   |                      |              || nary mild steel and tensile) ; plates   |                      |              || (bullet proof) ; bars (including flats, |                      |              || squares, rounds, hexagons               | and                  |              || rods) ; bolts (including fish bolts) ,  |                      |              |name of article rate of duty' ~----------------------~--------------~ item no nuts and rivets ; black or galvanised wire, whether plain or barbed ; wire nails ; wire (miscellaneous ) ; hoops and strips ; spring steel in any unfabricated or semi-fabricated form ; tool steel in any unfabricajed or semi-fabricated form ; steel pressure pipes; tubes and fittings, coated or uncoated, excluding electrical conduit pipes ; cast iron pressure pipes and specials ; pressure pipes made of any substance reinforced with iron and steelj and wire ropes 10 (b) iron and steel black sheets and galvanised 30 per cent ad fjalosheets (plain and corrugated) rem ii black pepper 30 per cent ad fjalorem 12 raw wool 30 per cent ad fjalorem 13 grouadnuts rs 300 per 2240 1bs ton of 14 oilseeds, not otherwise specified rs iso per ton of 2240 1bs is vegetable oils, not otherwise specified rs 300 per ton of 22401bs 16 mercury rs 300 per flask of 75 ibs 17 coffee rs 62· 50 per cwt 18 groundnut oilcake rs 230 per ton of 2240 ibs 19 de-oiled groundnut meal (solvent ex-ri 175 per ton of tracted variety containing less than of 2240 ibs i per cent oil) decorticated cotton seed oilcake  ri 100 per tod of 2240 ibs 21 rs 50 per ton of 2240 ibs " all oilcakes other than the following, namely, groundnut, copra, mowha, tobacco seed, neem seed, and decorticated cotton seed oil· cakes  statement of objects and reasonspending the consideration of the budget proposals for the financial year 1957-58, the finance act, 1957, provided for the continuance of the taxes on income and the duties of customs and excise at the 1956-57 rates with certain modifications the object of this bill is to give effect to the financial proposals of the central government for the financial year 1957-58 the notes on clauses explain the various provisions coiltained therein ! t t krishnamachari nmw di:lhi; the 15th may, 1957 cia:use 2 prescribes the rates of income-tax and super-tax for the bancial year 1957-58 in supersession of the rates prescribed by the finance act, 1957: (1) the rates which have so far been expressed in terms of annas and pies are, asa consequence of the introduction of decimal coinage expressed in terms of percentages (2) for individuals-(i) the taxable minimum has been lowered to ri 3,000, (ii) a decrease has been effected in the rates applicable to the lower slabs of income, (iii) a more even rate of progression has been achieved by the introduction of an intennediate slab between rs 10,000 and 15,000, (iv) the maximum rate of income-tax has been maintained at 25 per cent, but it will operate above the level of ri20,000, (v) the super-tax free slab has been kept at ri 20,000, but a comparatively more even rate of progression is maintained with slight lowering of the maximum rate-which is reached at a level ot ri 70,000 (vi) a basic surcharge of five per cent, an additional surcharge of five per cent on earned income which exceeds rupees one lakh and a further surcharge of fifteen per cent on unearned income have been introduced (3) for hindu undivided familiesthe taxable minimum has been lowered to rs 6,000 in the case of families with more than two adult members (3) for companies-(i) the basic rate of income-tax has been fixed at 30 per cent as against the existing rate of 25 per cent, (ii) effective rate of super-tax on indian companies has been raised to 20 per cent, ie, by about 3 per cent, (iii) on bonus issues the additional super tax has been raised from 121 per cent to 30 per cent, (iv) on excess distributions of dividends over the three levels of 6 per cent, 10 per cent and 18 per cent of the paid-up capital, the additional super-tax has been lowered from 12i per cent, 25 per cent, and 37i per cent to 10 per cent, 20 per cent and 30 per cent respectively, (v) the effective rate of super-tax on dividends received by principal companies from subsidiaries has been reduced from 171 per cent to 10 per cent, (vi) effective rate of super-tax on indian branches of foreign companies has been reduced from 36 per cent to 30 per cent clawe 3 inserts a new clause (xviib) to sub-section (3) of section 4 of the income-tax act and provides for the exemption of interest on $ecurities issued or other moneys borrowed outside india by the central or a state government or a local authority clause 4 amends sub-sections (2b) and (2c) of section 10 of the income-tax act, mainly with a view to clarifying the intention of government and removing some procedural difficulties which are likely to arise in the administration of the compulsory deposit scheme for companies clause 5 raises from one-fifth to one-fourth the limit upto which abatement is available for income-tax purposes on provident fund contributions and payment of life insurance premia the maximum amount on which the rebate is available, however, continues to be rs 8,000 as at present clame e prescribes the rate of tax for non-residents at ninete~n per cent instead of the existing equivalent of three annas in the rupee clause 7 amends section 23a of the income-tax act subsections (1) and (2) of section 23a have been recast by sub-clause (i) with a view to fixing for various categories of companies the percentages of available profits which they should distribute in order to avoid the extra rates of super-tax prescribed in section 23a the percentage is 45 per cent in the case of industrial companies in the case of non-industrial companies other than investment companies, the percentage is 60 per cent in general and 90 per cent in special circumstances where a company's activities are partly industrial and partly non-industrial, the percentage applicable is 45 per cent on industrial profits, and 60 per cent or 90 per cent as the case may be on non-industrial profits for investment companies the percentage is 100 per cent sub-clause (ii) deletes sub-sections (3), (4), (5), (6) and (7) which at present provide for representations by an industrial company to the commissioner of income-tax and the board of referees seeking exemption from the application of this section and the carry forward of excess distributions of preceding three years because a reduced percentage of 45 is now fixed for industrial companies other sub-clauses carry out some consequential changes clause 8 amends section 24 of the income  tax act in order to secure that a 1068 shall not be carried forward for more than eight years clauses 9 and 10 replacing sections sse and 58f provide for the exclusion of employer's contributions to a recognised provident fund, upto a limit ot ten per cent of salary, from the total income of the employee interest, subject to certain limits, on accumulated balances is already· excluded clause 11 is a formal provision relating to the time from which the amendments take effect clauie 12-bub-clause (1), read with parts i, ii and til of the second schedule, proposes certain changes in import duties these are intended mainly to rationalise the tariff rates, for example, by merging the existing 'additional duties' which have been a recurring feature of the finance act for several years or by rounding off fractional rates certain increases in import duties-mostly on what may be called luxury items-have also been proposed part iv of the second schedule seeks to substitute the! schedule of export duties by a fresh schedule for the purpose of removing a mistake in the column-wise arrangement of the entries in the schedule no changes in the duties have been proposed except for conversion of the rates of, duty in terms of decimal coinage sub-clause (2) seeks to clarify the meaning of the expression "plus the excise duty for the time being leviable on like articles if produced or manufactured in india", which occurs in several places clause 13-sub-clause (a) proposes an increase of the excise duty on kerosene sub-clause (b) proposes an increase of the excise duty on ma~ches sub-claule (c) proposes an increase of the excise duty on motor spirit fromrs 0-15-9 (inclusive of surcharse) 'per imperial gallon to rs 1·25 per imperial gallon sub-clause (d) proposes an increase of the excise duty on steel ingots from ri 4-0-0 per ton to ri 40·00 per ton sub-clause (e) proposes an increase of the excise duty od sular from ri 5-10-0 per cwt to rs 11·25 per cwt sub-clause (f) seeks to amend sub-items i (5) and i (6) of item no9 relating to unmanufactured tobacco, other than hue cured it also proposes certain changes in the rates of excise duty on other than hue cured tobacco sub-clause (g) proposes an increase of the excise duty on coffee from rs 0-3-0 per lb to thirty-five naye paise per lb sub-clause (h) proposes alterations in the excise duty on all categories of tea sub-clause (i) proposes an increase of the excise duty on cement from rs 5-0-0 per ton to rs 20·00 per ton sub-clause (j) seeks to rearrange the existing tariff and also proposes certl!in changes in the excise duty on all categories of paper sub-clause (k) proposes an increase of the excise duty on vegetable non-essential oils from rs 70-0-0 per ton to rs 112·00 per ton sub-clause (1) proposes an increase of the excise duty on refined diesel oils and vaporising oil· f·rom rs 0-4-0 per imperial gallon to forty naye paise per imperial gallon sub-clause (m) proposes an increase of the excise duty on diesel oil, not otherwise specified, from rs 30 per ton to rs 40·00 per ton clause 14-ltem (i) is a formal amendment intended to bring the schedule into line with the classification adopted with respect to letter cards in the rules under sections 7 and 8 of the act item (ii) seeks to increase the rate of postage on postcards under the various categories from 3, 6, 5 and 10 naye paise to 4, 8, 6 and 12 naye paise respectively item (iii) seeks to increase the rate of postage on the first five tolas in the first entry under book, pattern and sample packs from 6 naye paise to 8 naye paise item (iv) seeks to increase the parcel postage rate on the first forty tolas f,rom 50 naye paise to 60 naye paise clause 15-sub-clause (1) repeals all existing additional duties of customs and excise specified in sections 31 and 37 of, read ~ith the third and the fourth schedules to, the finance act, 1956 as continued in force by the finance act, 1957 these additional duties have now been merged in the basic duties sub-clause (2) repeals the provisions of the finance act, 1957, relating to income-tax and super-tax retrospectively as the rates will now be regulated by this bill  billto give effect to the financial proposals of the central government for the financial year 1957-58 the president has, in pursuance of clauses (1) and (3) of article ii7 and clause (1) of article 274 of the constitution of india, recommended to the lok sabha, the introduction and consideration of the bill  m n kaul, secretarjl (shri t t krishnamachari, minister of finance) 