The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 46] NEW DELHI, MONDAY, MARCH 8, 1965/PHALGUNA 17, 1886
Separate paging is given to this Part in order that it may be filed as a separate compilation
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 8th March 1965
S.O. 775,—In exercise of the powers conferred by section 24 of the Com- panies (Profits) Surtax Act, 1964 (7 of 1964) the Central Government hereby makes the following Order, namely:—
1. Short title.—This Order may be called the Dadra and Nagar Haveli, Goa, Daman and Diu and Pondicherry (Surtax Concessions) Order, 1965,
T42 THE GAZETTE OK INDIA EXTRAORDINARY [PART II-SEC. 3 (2) In making any assessment under the Act for the assessment year com- mencing on the 1st day of April, 1964, 1M5 or 1966, in the case of any assessee referred to in sub-paragraph (1) of this paragraph—(i) where the total income computed under the Income-tax Act, 1961 in respect of the previous year relevant to any assessment year afore- said does not include any income which accrues or arises or is deemed to accrue or arise or is received or is deemed to be received in any part of India other than the Union territories of Dadra and Nagar Haveli, Goa, Daman and Diu and Pondicherry, a deduction shall be allowed from the amount of the surtax computed under the provisions of the Third Schedule to the Act of a sum equal to seventy-five per cent., fifty per cent, and twenty-five per cent, there- of respectively for the assessment years aforesaid and the balance shall be the amount of the surtax payable for the relevant assessment year;
(ii) where the total income computed under the Income-tax Act, 1961 in respect of the previous year relevant to any assessment year afore- said includes any income as is referred to in clause (i), the amount of the surtax payable for the relevant assessment year shall be an amount equal to the aggregate of—
(a) an amount which bears to the amount of the surtax computed under the Third Schedule to the Act for that assessment year the same proportion which the amount of such inclusion bears to the total Income in respect of the relevant previous year; and
(b) the balance of the amount of such surtax as reduced by an amount equal to seventy-five per cent., fifty per cent, and twenty-five per cent, thereof respectively for the assessment years commencing on the 1st day of April 1964, 1&65 and 1966.
[No. 18/F. No. l(308)-64/TPL.]
JAMUNAA PRASAD SINGH, Addl. Secy.