businesslawch-1-230329185120-4cf30ccb.ppt

10. Incomes not included in total income.
10A. Special provision in respect of newly established undertakings in free trade zone, etc.
10AA. Special provisions in respect of newly established Units in Special Economic Zones.
10B. Special provisions in respect of newly established hundred per cent. export-oriented undertakings.
10BA. Special provisions in respect of export of certain articles or things.
10BB. Meaning of computer programmes in certain cases.
10C. Special provision in respect of certain industrial undertakings in North-Eastern Region.
11. Income from property held for charitable or religious purposes.
12. Income of trusts or institutions from contributions.
12A. Conditions for applicability of sections 11 and 12.
12AA. Procedure for registration.
13. Section 11 not to apply in certain cases.
13A. Special provision relating to incomes of political parties.
13B. Special provisions relating to voluntary contributions received by electoral trust.10. Incomes not included in total income.
10A. Special provision in respect of newly established undertakings in free trade zone, etc.
10AA. Special provisions in respect of newly established Units in Special Economic Zones.
10B. Special provisions in respect of newly established hundred per cent. export-oriented undertakings.
10BA. Special provisions in respect of export of certain articles or things.
10BB. Meaning of computer programmes in certain cases.
10C. Special provision in respect of certain industrial undertakings in North-Eastern Region.
11. Income from property held for charitable or religious purposes.
12. Income of trusts or institutions from contributions.
12A. Conditions for applicability of sections 11 and 12.
12AA. Procedure for registration.
13. Section 11 not to apply in certain cases.
13A. Special provision relating to incomes of political parties.
13B. Special provisions relating to voluntary contributions received by electoral trust.

1. Ethics & Business Law

2. Thinking about Law
1. A citizenmay think of ‘law’
as a set of rules which he must obey.
2. A lawyerwho practices ‘ law’ may think as a
vocation.
3. A legislatormay look at ‘law’
as a something created by him.
4. A judgemay think of ‘law’
as a guiding principles to be applied in
making decisions.

3. Law
Law includes all those rules and
regulationswhich regulate our relations
with other individuals and with the state.
Lawmeans a set of rulesrecognized and
enforced by the stateto control and regulate
the conduct of people, to protect their
property and contractual rights with a view
to securing justice, peaceful living and social
security.

4. Law
According to Salmond,
“Law is the body of principlesrecognized and
applied by the statein the administration of
justice”.
According toHolland,
“Lawis a rule of external human actions
enforced by the sovereign political authority”.

5. Business Law
“Business Lawis the body of lawthat
applies to the rights, relations and conducts
of persons & businessesengaged in
commerce, merchandising, trade and
sales”.
It is mostly known as Commercial or
Mercantile Law.

6. Nature/Characteristics of Law
A Law will present the following features –
(i) It is a set of rules.
(ii) It regulates the human conduct.
(iii) It is created & maintained by the state.
(iv) It has certain amount of stability, fixity &
uniformity.
(v) It is backed by coercive authority.
(vi) It’s violation leads to punishment.

7. Rule of Law
The Rule of Lawis the concept of equalityof all persons
before law.
Dicey told about THREE (3)Rule of Law –
(i) “No man is punishable or can be lawfully made to
suffer in body or goods except for a distinct breach of law
established in the ordinary legal manner before the
ordinary court”.
(ii) “No man is above law”.
(iii) “The Rule of Law is the result of statutes & judicial
decisions determining the rights of private persons”.

8. Scope of Business Law
The Scope of Commercial Law is wide.
It includes the laws relating to –
1.The Contract Act –1872
2.The Sale of Goods Act –1930
3.The Negotiable Instrument Act –1881
4.The Partnership Act –1932
5.The Company Act –1994
6.The Insurance Act -1938

9. Scope of Business Law
7.The Insolvency Act –1997
8.The Carriage of Goods Act –
(a) The Common Carriers Act –1865
(b) The Railway Act –1890
(c) The Carriage of Goods by Sea Act –1925
(d) The Carriage of Goods by Air Act -1934