Section 3 in The Gold Bonds (Immunities and Exemptions) Act, 1993

Title: Gold Bonds Scheme

Description: (1) The Central Government may, by notification in the Official Gazette, frame a scheme for subscription to the Gold Bonds, 1998, on or after the date of commencement of this Act, but before the specified date. Explanation.-- For the purposes of this sub-section, "specified date" means the 31st day of March, 1993 or such other later date as the Central Government may, by notification in the Official Gazette, specify in this behalf. (2) The scheme framed under sub-section (1) shall be laid, as soon as may be after it is framed, before each House of Parliament.

Title: Immunities

Description: (1) Notwithstanding anything contained in the Wealth-tax Act, 1957 (27 of 1957), the Gift-tax Act, 1958 (18 of 1958), the Income-tax Act, 1961 (43 of 1961), the Customs Act, 1962 (52 of 1962), the Foreign Exchange Regulation Act, 1973 (46 of 1973) and the Foreign Contribution (Regulation) Act, 1976 (49 of 1976),-- (a) no subscriber shall be required to disclose, for any purpose whatsoever, the nature and source of acquisition of the gold subscribed for the Gold Bonds, including the source of money with which the gold was acquired; (b) no inquiry or investigation shall be commenced against any subscriber under any of the said Acts on the ground that such subscriber owns the Gold Bonds; and (c) the fact that any subscriber owns the Gold Bonds shall not be taken into account for the purposes of, and shall be inadmissible as evidence in, any proceedings under any of the said Acts: Provided that nothing contained in this sub-section shall apply where any proceedings in respect of the gold subscribed by the subscriber have already been initiated before the commencement of this Act in accordance with the provisions of any of the aforesaid Acts. (2) Nothing in sub-section (1) shall apply in relation to prosecution for any offence punishable under Chapter IX or Chapter XVII of the Indian Penal Code (45 of 1860), the Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985), the Terrorist and Disruptive Activities (Prevention) Act, 1987 (28 of 1987), the Prevention of Corruption Act, 1988 (49 of 1988) or for the purposes of enforcement of any civil liability.

Title: Gold Bonds not to be taken into account in certain cases

Description: Without prejudice to the generality of the provisions of section 4,-- (a) the provisions of the Income-tax Act, 1961 (43 of 1961) shall not apply to— (i) any interest accruing to the subscriber from the Gold Bonds; (ii) any long-term capital gains arising to the subscriber; (b) the provisions of the Gift-tax Act, 1958 (18 of 1958) shall not apply where the gift of the Gold Bonds is made by a subscriber, being an individual, to his spouse, child or parent.

Title: Repeal and savings

Description: (1) The Gold Bonds (Immunities and Exemptions) Ordinance, 1993 (Ord. 22 of 1993) is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the said Ordinance, shall be deemed to have been done or taken under the corresponding provisions of this Act.

Title: Short title and commencement

Description: (1) This Act may be called the Beedi and Cigar Workers (Conditions of Employment) Amendment Act, 1993. (2) It shall come into force in a State on such date as the State Government may, by notification in the Official Gazette, appoint; and different dates may be appointed by the State Government for different areas and for different provisions of this Act.