chhatramani/Nepal-Legal-Text-Corpus-44laws huggingface dataset:
Securities Act 2063

Chapter 21 Review and Appeal

Section 115 : Application for administrative review
1) A person who is not satisfied with any decision subject to administrative review, as referred to in Section 114, may make an application to the Department against the decision within thirty days of the date of receipt of a notice of that decision.
2) The application, as referred to in sub-section (1), has to clearly set out the reasons and grounds for such review.
3) If the time limit for making an application pursuant to sub-section (1) expires and any person makes an application for the extension of the time limit within seven days from the date of expiration of the time limit, the Department may do as follows:
a) To extend the time limit for a period not exceeding Thirty days from the date of expiration of the time limit for making an application pursuant to sub-section (1), where there are reasonable reasons, and
b) To give the applicant a written notice of the decision made by the Department on the application.
4) The implementation of the decision mentioned in sub-section (1) of Section 114 shall not be deemed to be affected by the making of an application pursuant to sub-section (1).
5) Notwithstanding anything contained in sub-section (4), the Department may hold in pending or otherwise affect the decision made pursuant to sub-section (1) of Section 114 pending the settlement of the application made by any person pursuant to sub-section (1).
6) A person who makes an application pursuant to sub-section (1) shall pay the total amount of undisputed tax and one-fourth of the disputed tax out of the assessed tax amount.
7) The Department may do as follows on an application made by any person pursuant to sub-section (1):
a) To accept or reject, fully or partly, the matters mentioned in the application, and
b) To give a written notice of the decision on the application.
8)If the Department fails to give the applicant a notice of decision on the application within sixty days from the date on which the application was made pursuant to sub-section (1), the applicant may make an appeal to the Revenue Tribunal pursuant to Section 116.
9) If an appeal is made pursuant to sub-section (8), such person shall give information in writing to the Department, enclosing the copy of the appeal, within fifteen days of the date on which the appeal was filed.
Securities Act 2063

Chapter 21 Review and Appeal

Section 116 : Appeal in the Revenue Tribunal
1) A person who is not satisfied with any decision made to the Department pursuant to Section 115 may file an appeal to the Revenue Tribunal under the Revenue Tribunal Act, 2031.
2) The person who files an appeal pursuant to sub-section (1) has to register a copy of the appeal with the Department within fifteen days of the date of filing the appeal.
3) The implementation of the decision mentioned in sub-section (1) of Section 114 shall not be deemed to be affected by the filing of an appeal pursuant to Sub-section (1).
4) Notwithstanding anything contained in sub-section (1) of Section 114, if the Director General has made a decision subject to administrative review as mentioned in that sub-section, an appeal may be filed to the Revenue Tribunal.
5) Upon filing an appeal to the Revenue Tribunal pursuant to sub-section (1), the undisputed amount of the assessed tax shall be submitted, and fifty percent of the disputed tax amount, charge and fine amount or bank guarantee of such amount shall be provided.
6) In the calculation of the deposit or bank guarantee pursuant to sub-section (5), it shall be calculated, including also the twenty-five percent of the tax amount submitted to the Inland Revenue Department for administrative review.
Securities Act 2063

Chapter 22 Fees and Interest

Section 117 : Fees to be charged in event of failure to maintain documents or to submit return or income return
1) If any person does not submit the following details, the following charge shall be imposed on him:
a)If the income return of any income year has not been submitted pursuant to sub-section (1) of Section 95, five thousand rupees or 0.10 percent of the assessable amount of income mentioned in the income return, whichever is higher,
b) If any person required to collect advance tax has not submitted the details pursuant to sub-section (9) of Section 95A., such person shall be imposed one and half percent annually of the amount of advance tax to be collected from the date required to make submission till the date of actual submission for each month and the portion of the month,
c) If the income return of any income year is not submitted pursuant to sub-section (1) of Section 96, for the person mentioned in sub-section (4) of Section 4, amount at the rate of one hundred rupees per month and for the other persons, at the rate of 0.1 percent per year of the assessable income drawn out without deducting any amount, if any, that can be deducted and by including any amount, if any, that has to be included in computing the income of any income year or hundred rupees per month, whichever is higher.
2) If any person does not maintain the documents required to be maintained in any income year pursuant to Section 81, a fee in a sum to be set by one and a half percent per year of the assessable income drawn out without deducting any amount, if any, that can be deducted and by including any amount, if any, that has to be included in computing the income of any income year for each month and a portion of the month or a sum set by one thousand rupees per month, whichever is higher, shall be imposed on such a person.
3) If any person withholding tax does not submit the return referred to in sub-section (1) of Section 90, a fee in a sum to be set by one and a half percent per year of the amount of tax to be withheld for each month and a portion of the month from the due date for submission of the return until the date on which such return is submitted shall be imposed on such a person.
Securities Act 2063

Chapter 22 Fees and Interest

Section119A: Charge to be imposed
Except as otherwise provided in this Act, there shall be imposed a charge of five thousand to twenty-five thousand rupees on a person who does not comply with any provision of this Act or the Rules framed under this Act.

Securities Act 2063

Chapter 22 Fees and Interest

Section 120: Charge to be imposed on the person who submits false or misleading statement
If any person submits to the Department a false or misleading statement on any matter or the information mentioned in the statement becomes misleading as a result of concealing information of any matter or thing required to be submitted or removing such information from the statement, the following charge shall be imposed on such a person:
a) If it has become false or misleading not knowingly or recklessly but by mistake, fifty percent of the amount less resulted therefrom.
b)If it has become false or misleading knowingly or recklessly, one hundred percent of the amount less resulted therefrom.
Explanation:
For purposes of this Section, “statement submitted to the Department” means any statement submitted in writing to the Department or to the officer authorized by the Department in the course of performing the duty pursuant to this Act and includes the statement submitted as follows:
(a) Application, notice, description, complaint, deposition, or other document submitted, prepared, given or furnished pursuant to this Act,
(b) Document submitted to the Department or any officer of the department except under this Act,
(c) Reply to any question asked by the Department or any officer to any person or
(d) Information given by any person who has reasonable knowledge of the matter to be informed to the Department or any officer through any other person.

Securities Act 2063

Chapter 22 Fees and Interest

Section 121 : Charge to be imposed on accomplice
A charge of cent percent amount of the tax less paid by an accomplice who knowingly or recklessly aids or abets or advises any offender referred to in this Act shall be imposed on such accomplice.
Securities Act 2063

Chapter 22 Fees and Interest

Section 122 : Assessment of fee and interest
1) The Department shall assess the fee and interest required to be paid by any person pursuant to this Chapter.
2) In computing the liability for the fee and interest chargeable where any particular act has not been performed or chargeable in respect of any statement pursuant to this Chapter, it shall be computed separately in the case of each section of this Chapter.
3) The fee and interest chargeable pursuant to this Section shall be added to any other tax, if any, payable pursuant to this Act, and mere payment of such fee and interest shall not be deemed as the release of any person from the liability related to criminal proceedings mentioned in Chapter 23.
4) If the fee and interest have been assessed pursuant to this Section, the Department shall give a written notice of the assessment, setting out the following matters, to that person. Such notice may be attached to and sent along with the notice to be issued pursuant to Section 102:
a) The reasons why the Department has to assess the fee and interest,
b) The amount for the fee and interest payable,
c) The method of how the amount has been computed,
d) The time, place and mode for making a compliant against the assessment.
5) It shall be as follows in assessing the fee and interest pursuant to this Section:
a) The matters contained in sub-section (1), sub-section (2), clause (b) of Sub-section (3), sub-section (4) and (5) of Section 101 shall also be applicable in assessing the fee and interest pursuant to this Section, and
b) The matters contained in clauses (b) and (c) of sub-section (3), sub-sections (4) and (5) of Section 101 and Section 102 shall also be applicable in the case of sub-section (4) of this Section.

Securities Act 2063

Chapter 23 Offence and Punishment

Section 123 : Punishment to one who does not pay tax
A person who does not pay tax, without any reasonable ground, by the due date for payment of tax shall be punished with a fine of a sum from five thousand rupees to thirty thousand rupees or with imprisonment for a term from one month to three months or with both punishments.
Securities Act 2063

Chapter 23 Offence and Punishment

Section 124 : Punishment to one who submits false or misleading statement
If any information or statement submitted by any person to the Department is false or misleading because of submission with intention or recklessness or that information becomes misleading since such person has not mentioned information of any particular matter or thing in the statement in respect of such subject, such person shall be punished with a fine of a sum from forty thousand rupees to one hundred sixty thousand rupees or with imprisonment for a term from six months to two years or with both punishments.
Explanation:
For the purposes of this Section, “any information or statement submitted to the Department” means any statement/details submitted to the Department or the officer authorized by the Department in the course of complying with the obligation under this Act in writing, and the statement/details submitted as follows:
a) Application, notice, details, complaint, statement, or other documents deposited, prepared, provided or submitted in accordance with this Act,
b) Document submitted to the Department or any officer of the Department,
c) Answers to the questions asked by the department or any officer to any person or
d) Information provided by any person, having reasonable information of the details to be provided, to the Department or any officer through any other person.

Securities Act 2063

Chapter 23 Offence and Punishment

Section 125 : Punishment to one who obstructs or unduly influences tax administration
1) A person who commits the following act shall be punished with a fine of a sum from five thousand rupees to twenty thousand rupees or with imprisonment for a term from one month to Three months or with both punishments:
a) To obstruct the officer of the Department in the course of carrying out his duty pursuant to this Act,
b) Not to act as per the notice referred to in Section 83 or
c) To obstruct in any other manner in the implementation of this Act.
2) Any person who attempts to commit an act referred to in sub-section (1) shall be punished with half a punishment mentioned in that sub-section.

Securities Act 2063

Chapter 23 Offence and Punishment

Section 126 : Punishment in the event of commission of offence by the person with or without authority
1) Any authorised person who violates Section 84 shall be punished with a fine of a sum not exceeding eighty thousand rupees or with imprisonment for a term not exceeding one year or with both punishments.
2) If any person who is not authorised under this Act collects tax or any other amount in the name of tax or attempts to collect the same, such a person shall be punished with a fine of a sum
from eighty thousand rupees to two hundred thousand rupees or with imprisonment for a term from one year to three years or with both punishments
Securities Act 2063

Chapter 23 Offence and Punishment

Section 127 : Punishment to accomplice
Any person who intentionally aids or abets or advises any other person to commit any offence under this Act certifies a fake financial or tax account or gives wrong advice shall be punished with half a punishment imposed on the offender.
Provided that if such an accomplice is a governmental employee, he shall be liable to punishment equal to the punishment imposed on the offender.

Securities Act 2063

Chapter 23 Offence and Punishment

Section 128 : Punishment to one who does not observe the Act
Except as otherwise provided for in this Act, any person who does not observe any provisions of this Act or the rules framed under this Act shall be punished with a fine of a sum from five thousand rupees to thirty thousand rupees.

Securities Act 2063

Chapter 23 Offence and Punishment

Section 129 : Power of Department to pay amount of fine
1) Notwithstanding anything contained elsewhere in this Chapter, in cases where any person admits in writing that he has committed any one or more offences mentioned in this Chapter, except the offence mentioned in Section 126, before the commencement of the court proceedings, the Department may order such a person to pay the amount of fine not exceeding the amount of fine imposable for the commission of such one or more than one offence.
2) In making the order referred to in sub-section (1), the Department has to set out in such order such offence the amount of fine to be paid and the date for payment of the amount of fine.
3) The order made by the Department pursuant to this Section shall be final, and no appeal may be made against it.

Securities Act 2063

Chapter 23 Offence and Punishment

Section 130 : To be state cases
The Government of Nepal shall be the plaintiff in the cases under this chapter.

Securities Act 2063

Chapter 23 Offence and Punishment

Section 131 : Investigation and filing of cases
1) The prescribed officer shall investigate the case on the offence punishable under this Chapter, and the case shall be filed in the concerned District Court within thirty-five days of the completion of such investigation.
2) In conducting an investigation pursuant to sub-section (1), the investigating officer shall seek the advice and opinion of the government attorney.

Securities Act 2063

Chapter 24 Miscellaneous

Section 132 : Power to have expert’s service
The Government of Nepal or the Department may obtain the service of the concerned expert for the act related to tax auditing, and the provision on governmental secrecy mentioned in Section 84 shall also apply to such expert.

Securities Act 2063

Chapter 24 Miscellaneous

Section 133 : Departmental action to be taken
If the liability of a taxpayer increases or decreases because of the assessment of tax made with recklessness, the Director General may institute departmental action to punish the concerned officer who has assessed such tax or has not assessed the revised tax within the time limit referred to in sub-section (3) of Section 101.
Securities Act 2063

Chapter 24 Miscellaneous

Section 134 : Identity card of officer
Each officer has to hold the identity card as prescribed and show such identity card where anyone requests him to show it.

Securities Act 2063

Chapter 24 Miscellaneous

Section 135 : Powers of court of law to be vested
For purposes of this Act, the Department shall have the powers vested in a court under the law in force in the matters of summoning the presence of the concerned person, recording statements, examining evidence, and compelling the production of documents.

Securities Act 2063

Chapter 24 Miscellaneous

Section 136 : Not to be responsible for an act done in good faith
Notwithstanding anything contained elsewhere in this Act, no officer shall be personally responsible for any act which he or she has done in good faith in carrying out the duties.

Securities Act 2063

Chapter 24 Miscellaneous

Section 136A: Provision for prize and informant’s expenses
1) A person who provides information, along with the evidence, that any person has evaded, or attempted to evade, the whole or any portion of his or her tax liability may be awarded the prize of an amount equal to twenty percent of the tax amount as assessed on the basis of the evidence submitted by that person from the amount of tax recovered on the basis of his information, upon the decision of the Director General.
2) If there are more than one person entitled to the prize pursuant to sub-section (1), the amount of prize shall be provided on
pro rata
basis.
3) Notwithstanding anything contained in sub-section (1), a person who gives information on revenue leakage may be provided immediately with the informant’s expenses up to ten thousand rupees pursuant to the procedures specified by the Department, on the basis of the truthfulness of the information provided as such.
4) The name, surname and address of the person providing information pursuant to subsections (1) and (3) shall be kept confidential.

Securities Act 2063

Chapter 24 Miscellaneous

Section 137 : Power of Government of Nepal to give order or direction
The Government of Nepal may give necessary orders or directions to the Department in order to make tax administration effective.

Securities Act 2063

Chapter 24 Miscellaneous

Section 138 : Power to frame Rules
The Government of Nepal may frame necessary rules in order to carry out the objectives of this Act.

Securities Act 2063

Chapter 24 Miscellaneous

Section 139 : Power to make and enforce directives
The Department may make and enforce necessary directives subject to this Act and the rules framed under this Act.

Securities Act 2063

Chapter 24 Miscellaneous

Section 140 : Alteration in Schedules
The Government of Nepal may, by notification in the Nepal Gazette, make necessary alterations in the Schedules other than Schedule I.

Securities Act 2063

Chapter 24 Miscellaneous

Section 141 : Police to render assistance
It shall be the duty of the Police to render the assistance sought by the Department on the implementation of this Act and the rules framed under this Act.
Securities Act 2063

Chapter 24 Miscellaneous

Section 142 : This Act to prevail on tax provision
Notwithstanding anything contained in the law in force, except in cases where the Financial Act to be enforced in every year amends this Act and provides for the imposition, assessment, increase, decrease, exemption, or remission of tax, no other Act shall make other provisions on amendments to, alteration in, the tax provisions referred to in this Act or other tax related provisions.
धितोपत्र सम्बन्धी ऐन २०६३

प्रस्तावना
प्रमाणीकरण र प्रकाशन मिति
२०६३।९।३०
संशोधन गर्ने ऐन
१) केही नेपाल ऐन संशोधन गर्ने ऐन, २०७२                                                   २०७२।११।१३
२)सम्पत्ति शुद्धीकरण (मनी लाउण्डरिङ्ग) निवारण तथा व्यावसायिक
वातावरण प्रवर्द्धन सम्बन्धी केही ऐनलाई संशोधन गर्ने ऐन,२०८०                                     २०८०।१२।३०
२०६३ सालको ऐन न. ३३
धितोपत्र सम्बन्धी कानूनलाई संशोधन र एकीकरण गर्न बनेको
ऐन
प्रस्तावनाः
देशको आर्थिक विकासको लागि आवश्यक पूँजी परिचालन गर्न पूँजी  बजारको विकास गरी धितोपत्रमा लगानी गर्ने लगानीकर्ताको हित संरक्षण गर्नका निम्ति  धितोपत्रको निष्काशन, खरिद, बिक्री तथा विनिमयलाई व्यवस्थित बनाई धितोपत्र बजार  र धितोपत्र व्यवसायमा संलग्न व्यक्तिहरुको काम कारबाहीलाई नियमित तथा व्यवस्थित  गर्न तत्सम्बन्धी कानूनलाई संशोधन र एकीकरण गरी समयानुकुल बनाउन वाञ्छनीय  भएकोले,
प्रतिनिधि सभाको घोषणा, २०६३ जारी भएको पहिलो वर्षमा प्रतिनिधि सभाले  यो ऐन बनाएको छ।

धितोपत्र सम्बन्धी ऐन २०६३

परिच्छेद–१ प्रारम्भिक

दफा १ : संक्षिप्त नाम, विस्तार र प्रारम्भ
१) यस ऐनको नाम “धितोपत्र सम्बन्धी ऐन, २०६३”  रहेको छ ।
२) यो ऐन २०६३ साल असोज ६ गते देखि प्रारम्भ भएको मानिनेछ ।
धितोपत्र सम्बन्धी ऐन २०६३

परिच्छेद–२ बोर्ड सम्बन्धी व्यवस्था

दफा ३: बोर्डको स्थापना
१)पूँजी बजारको विकास गरी धितोपत्रमा लगानी गर्ने लगानीकर्ताहरुको हित संरक्षण गर्न धितोपत्रको निष्काशन, खरिद, बिक्री, वितरण तथा विनिमयलाई व्यवस्थित बनाई धितोपत्र बजार र धितोपत्र व्यवसायमा संलग्न व्यक्तिहरूको काम कारबाहीलाई नियमित तथा व्यवस्थित गर्नको लागि नेपाल धितोपत्र बोर्डको नामबाट एउटा बोर्डको स्थापना गरिएको छ ।
२)उपदफा (१) बमोजिम स्थापना हुने बोर्डमा देहायका सदस्यहरु रहने छन् ;
(क) नेपाल सरकारले नियुक्त गरेको व्यक्ति – अध्यक्ष
(ख) सह-सचिव, अर्थ मन्त्रालय – सदस्य
(ग) सह–सचिव, कानून, न्याय तथा संसदीय मामिला मन्त्रालय – सदस्य
(घ) प्रतिनिधि, नेपाल राष्ट्र बैंक – सदस्य
(ङ) प्रतिनिधि, नेपाल चार्टर्ड एकाउण्टेण्ट्स संस्था – सदस्य
(च) प्रतिनिधि, नेपाल उद्योग वाणिज्य महासंघ – सदस्य
(छ) अर्थशास्त्र, व्यवस्थापन, आर्थिक, वित्तीय, वाणिज्य वा कानून विषयमा मान्यता प्राप्त विश्वविद्यालयबाट कम्तीमा स्नातकोत्तर उपाधि हासिल गरी धितोपत्र बजार, व्यवस्थापन, पूँजी बजार विकास, वित्तीय वा आर्थिक क्षेत्रमा कम्तीमा सात वर्षको अनुभव प्राप्त गरेका विज्ञहरुमध्येबाट नेपाल सरकारले मनोनीत गरेको एकजना – सदस्य
३) उपदफा (२) को खण्ड (ङ) र (च) बमोजिम सम्बन्धित संस्थाले प्रतिनिधि मनोनयन गर्दा कम्तीमा स्नातक उपाधि हासिल गरी लेखा, उद्योग, वाणिज्य, वित्तीय, बैंकिड्ढ, आर्थिक वा कानून विषयमा कम्तीमा सात वर्ष काम गरेको अनुभव भएको व्यक्तिलाई मनोनयन गर्नु पर्नेछ ।
४) उपदफा (२) को खण्ड (छ) बमोजिम मनोनीत सदस्यको पदावधि तीन वर्ष हुनेछ ।
५) कुनै सदस्यको पद रिक्त रहेको कारणले मात्र बोर्डले गरेको काम कारबाहीमा कुनै असर पर्ने छैन ।
६) बोर्डले तोकिदिएको बोर्डको कुनै अधिकृत कर्मचारीले बोर्डको सचिवको काम गर्नेछ ।
७) बोर्डले आवश्यक देखेमा कुनै स्वदेशी वा विदेशी विशेषज्ञ, सल्लाहकारलाई बोर्डको बैठकमा पर्यवेक्षकको रुपमा भाग लिन आमन्त्रण गर्न सक्नेछ ।
८) बोर्डको केन्द्रीय कार्यालय काठमाडौं उपत्यकामा रहनेछ र बोर्डले आवश्यकता अनुसार नेपाल राज्यभित्र वा बाहिर शाखा वा सम्पर्क कार्यालय खोल्न सक्नेछ ।

धितोपत्र सम्बन्धी ऐन २०६३

परिच्छेद–२ बोर्ड सम्बन्धी व्यवस्था

दफा ४: बोर्ड स्वशासित र संगठित संस्था हुने
१) बोर्ड अविच्छिन्न उत्तराधिकारवाला स्वशासित र संगठित संस्था हुनेछ ।
२) बोर्डको सबै काम कारबाहीको लागि आफ्नो एउटा छुट्टै छाप हुनेछ ।
३) बोर्डले व्यक्ति सरह चल, अचल सम्पत्ति प्राप्त गर्न, उपभोग गर्न, खरिद गर्न, बिक्री गर्न वा अन्य कुनै किसिमले व्यवस्था गर्न सक्नेछ ।
४) बोर्डले व्यक्ति सरह आफ्नो नामबाट नालिस उजुर गर्न र बोर्ड उपर पनि सोही नामबाट नालिस उजूर लाग्न सक्नेछ ।