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REGISTERED No D- 221

The Gazette of India

EXTRAORDINARY

PART II—Section 3-Sub-section (ii)

PUBLISHED BY AUTHORITY

He, 275] NEW DELHI TUESDAY, AUGUST 30, 1966/BHADKA 8, 1888

Separate paging is given to this Part in order that It may be filed

as a separate compilation.

MINISTRY OF FINANCE

(Department of Revenue and Insurance)

NOTIFICATION

Income- Tax

New Delhi the 30th August, 1966

TAX CREKIT CERTIFICATE (CORPORATION TAX)

SCHRME, 1966

3 . 0. 2 6 7 1 - In exercise of the powers conferred by • a c t i on 280ZE of the Income- Tax Act. 1961 (43 of 1961) read with section 280 ZB of that Act, and a ll other posers enabling it in t h is b e h a l f, the Central Government hereby makes the f o l- lowing Scheme, namely:-

1. Short t i t le and commencement- (1) This Scheme may be

c a l l ed the Tax Credit C e r t i f i c a te (Corporation Tax) Scheme, 1966-

(2) It s h a ll come i n to fore on the 1 st day of November.

1966.

2. Definitions, - (1) In the Scheme, unless the context

o t h e r w i se r e q u i r e s .—

(a) "Act" means the Income-tax Act, 19 61 (43 of 1961)

(1283)

(b) "o*rtificat*" means a tax credit c e r t i f i c a te referred

to In section 280ZB;

(c) "paragraph* ••ana a paragraph of t h is Scheme and ""ub-

paragraph • moan* a "ub-paragraph of th* paragraph is which it

occurs;

(d) Tolerant year" faani an a n e i u e nt year, not being

tho baa* y*ar or the succeeding bam* year, a* th* cai" nay

b", commencing on th* l *t day of April. 1966. or th* 1st day

of April. 19G7. or tk* 1st day of April, 1968. or th* 1st

day of Jlpril 1969, or the 1st day of April, 1870. in respect

of which a company is entitled to a o"rtificat*;

(•) "section* icani a ••ction of the Act;

({) "Surtax Act" means th* Companies (Profits) Surtax Act,

1964 (7 of 1964) •

(2) In thia Scheme, th* words ' b an year" "succeeding

base year" and "tax" shall have the meanings respectively

assigned to them in section 280ZB.

(3) All references to "Forme* in thin Scheme shall b"

oonstrued as references to th* Forms net out in th* Appendix

hereto.

3. Application for c e r t i f i c a t e .- (1) Any company which claims that it is e l i g i b le for the grant of a c e r t i f i c a te in respect of any relevant year, may apply to the Income-tqx Officer "t any tim* aft*r

(a) the regular assessment of th* company in respect of

the bos* year or th* succeeding base year, as the oas* may

be.has been Bade under the Act and where the p r o f i ts of th*

company are chargeable to surtax under the Surtax Act, also

under that Act; a*d >

(b) the company has furnished a return of income under

th* Act, and where the profits of the company are ahargeflbl*

to surtax under the Surtax Act. alia a return of chargeable

profits under the said Act. in respect of the relevant year.

(2) Where -

(a) as a result of an order under the provisions of section 154 or section 155 or section 250 or section 254 or eoction 260 or section 2B2 or section 264 or an order under the corresponding provisions of the Surtax Act. the tax which the company is l i a b le to pay for the base year or the succeeding case year, as the case nay be, is determined at an amount which is lower than the amount with reference to which a c e r t i f i c a t e, if any, hog already been granted to i t, or

(b) on completion of the regular a n t i i n e nt under

the Act or as a result o f an order of r"-

the company may make an application for the grant of a cer-

t i f i c a te or, as the case say be, a further c e r t i f i c a te for

the appropriate amount to which it is entitled on the basis

of such regular assessment or order :

Provided that where the company has presented an appeal under section 246 or section 253 or an application for re- ference under section 256 or an appeal under section 261 or an application for revision under section 264 against any order of the Income-tax Officer for the relevant year, or, a* the cose may be, where the company has taken l i ke action under the corresponding provisions of the Surtax Act. it shall not be entitled to make an application under t h is sub- paragraph in relation to the tax attributable to the amount of income which is disputed in such appeal, reference or re- vision unless such tax has been paid in f u l l.

(3) An application under sub-paragraph (1) shall be in

Form No. 1 and an application under sub-paragraph (2.) shall

be in Form No. 2, and in either case shall be made in dupli-

cate

(4) In a case where an application is made by the company

under sub-paragraph (1>. the amount, if any, for which the company is entitled to a c e r t i f i c a te shall be computed with reference to the tax which the company ia l i a b le to pay on the basis of the return referred to in clause (b) of that sub-paragraph and the accounts and documents, if any, accom- panying it and after giving due effect to the allowance re- ferred to in sub-section (2) of section 32. any development rebate carried forward under sub-section (2) of section 33, any development allowance carried forward under sub-section (2) of section 33A and any l o ss carried forward under sub- section (1) of section 72 or sub-section (2) of section 73 or sub-section (1) of section 74.

4. GraM of c e r t i f i c a t e .- U) The Incoae-tax Officer ,hall f

particular* from the company) as he deems f i t, by order de-

termine the e l i g i b i l i ty of the applicant for the c e r t i f i c a te

and the amount thereof.

(2) 'here the Income-tax Officer i" satisfied that the-

applicant is so e l i g i b l e, he shall grant the c e r t i f i c a te in

Form No. 3 for the amount determined by him under sub-para-

graph (1) and forward the me to the applicant together

With a copy of the order under that sub-paragraph.

(3) fh"r"an a result of the inquiry, the Income-tax

Officer is satisfied that th* applicant is not e l i g i b le for

the grant of the c e r t i f i c a t e, he shall, by order and for

reasons to be recorded therein, reject the application and

forward a copy of such order to the applicant.

5. Appeal.- (1) Any company aggrieved by an order of the

Income-tax Officer passed under paragraph 4 Bay appeal to

the Commissioner against such order.

(2) Every appeal under sub-paragraph (1) shall be filed

by the company aggrieved within thirty days of the dace on

which the order sought to be appealed against is strved on

it.

(3) Every appeal as aforesaid shall be in Form No. 4 and

be accompanied by a copy of the order appealed against and

where a c e r t i f i c a te has ba*n granted by the Income-tax Offi

c"r, also by such c e r t i f i c a te (in original) which shall be

retained by the Commissioner and dealt with in accordance

with such order as he may pass under sub-paragraph (5) •

(4) The Commissioner may admit an appeal after the expi-

ration of the period specified in sub-paragraph (2) if he

is satisfied that the appellant had sufficient cause for not

f i l i ng it within that period.

(5) The Commissioner may, after giving the appellant a

reasonable opportunity of being heard, pass an order,-

(a) where the appeal is against an order rejecting the

application for the c e r t i f i c a t e ,-

(i) confirming the order appealed against, or

( i i) varying the said order and directing the

Income-tax Officer to grant a c e r t i f i c a te for

an amount to be specified therein, or

( i i i) setting aside the said order and directing

the Income-tax Officer to make a fresh deter-

mination under paragraph 4;

(b) where the appeal is against an order granting a

c e r t i f i c a t e .-

(i) confirming th* order appealed aginst, or

(11) varying th* sold order and dirooting the i s s ue

of a fresh c e r t i f i c a te for an mount to b*

specified therein In l i eu of th* c*r''£ioate

alteady issued,or

( i i i) setting aside the said order and directing

the In corn*-tax Officer to make a fresh deter-

mination under paragraph 4. or

(ir) annulling the said order, and cancelling tha

c e r t i f i c a te issued :

Provided that the Commissioner shall not pass an

order cancelling the c e r t i f i c a te issued or directing

the i s s ue of a fresh c e r t i f i c a te for a l e s s er (mount

than that for which the c e r t i f i c a te was o r i g i n a l ly

granted, unless the appellant has been given a reason-

able opportunity of showing cause s p e c i f i c a l ly against

such cancellation or direction.

(6) The Commissioner may, before disposing of an appeal,

make such further inquiry as he thinks f it or direct the

Income-tax Officer to make such inquiry and report the result

thereof to him.

(7) The Commissioner may, where he considers it necessary

so to do, require the presence of the Income'tax Officer at

the tine of th* hearing of the appeal.

(8) A copy of the order passed under sub-paragraph (5) or

sub-paragraph (G) . as the cage may be, shall be given to the

app el 1 an t.

6. Specified period for using the amount of the c e r t i f i-

c a t e .- Th* period referred to in the proviso to "ub-section

(2) of section 280 ZB within which a company is required to

use the amount of the c e r t i f i c a te for any an* or more of the

purposes specified therein (hereinafter in t h is Scheme refer-

red to as approved purposes) shall be a period of three con-

secutive financial years commencing with the financial year

immediately preceding the relevant year.

7. Production of c e r t i f i c a te before the Income-tax Offi-

c e r .- (1) The company shall produce the c e r t i f i c a te granted

to it together with a statement in Form No. 5 before the

Income-tax Officer who shall grant a receipt in respect

thereof in Form no. 6.

(2) The Income-tax Officer shall thereafter proceed to

adjust or, as the case any be, refund, in accordance with

the provisions of sub-section (2) of section 2802B so

much of th* amount shown on the c e r t i f i c a te as i a equol to

the amount which is shown by the company to the satisfaction

period s p e c i f i ed in paragraph 6 for any on* or l o rt of th*

(3) Notwithstanding anything contained in sub-paragarph (2), any mount used by the company during the period spe- c i f i ed in paragraph 6 for any one or morn of the cpproved purposes with reference to which the amount shown on th* c e r t i f i c a te granted to it in respect of any relevcstt year has been adjusted or paid under that sub-paragraph shall not be taken into account for the purpose of noting adjustment or payment of the amount shown on a c e r t i f i c a te granted to the company in respect of any other relevant year.

8. Modification of orders and c e r t i f i c a t es under certain

cf rcuM stan cesi - (1) flith a view to r e c t i f y i ng any mistake ap-

parent from the record, the Commissioner may, by order in

writing, amend any order pashed by him under paragraph 5 and

the Iticome-tax Officer may, by order in writing, amend any

order passed by him under paragraph 4.

(2) Any order under sub-paragraph (1) may be made by the

Commissioner or the Income-tax Officer, aa the case may be,

e i t h er on h is own motion or on an application by the com-

pany in r e l a t i on to whom the order was passed.

(3) Where -

(a) as a result of an order of re-asBessemnt or re- computation under section 147 or as a result of an order under section 154 or s e c t i on 155 or s e c t i on 250 or s e c- tion 254 or section 260 or section 2S2 or section 263 or as a r e s u lt of an order under the p r o v i s i o ns of the Sur- tax Act corresponding to the p r o v i s i o ns of the s e c t i o ns referred to above, the tax which the company is l i a b le to pay for the baBe year or, as the case may be, the suc- ceeding base year ie determined at an amount which is higher than the amount with reference to which a c e r t i- f i c a te has already been granted to i t, or

(b) on completion of tb* regular assessment under th*

Act or as a r e s u lt of an order under s e c t i on 154 or sec- tion. 155 or section 250 or section 254 or section 260 or section 262 or section 264 or on completion of th* re- gular assessment under the Surtax Aot or as a result of an order under th* provi sions of that Act corresponding to the p r o v i s i o ns of the s e c t i o ns referred to above, th* tax which the company is l i a b le to pay for the relevant year is determined at an amount which is lower than the amount with reference to which a c e r t i f i c a te has already been granted to i t,

th* Income-tax Officer finds that the amount* for which the

c e r t i f i c a te was o r i g i n a l ly granted to the company ie in

eKoe"" of th* ***unt to which t h* oomp".y is e o t i t i e d ,- a*

s h e ll proceed to sake a fresh determination under paragraph

4.

(4) No order under sub-paragraph (1) which p r e j u d i c i a l ly mltmot* any person to whoa the c e r t i f i c a te i ai o r i g i n a l ly Issued and no ord*r under sub-paragraph (3) shall b* made u n l e ss th* o f f i c er passing the order has given n o t l ot to euch person "*f h is i n t e n t i on "o to do and has allowed such per"oa a reasonable opportunity of being heard-

(5) Vith a T 1 "* to giving e f f e ct to an order und*r sub-

paragraph (1) or sub-paragraph ( 3 ). the Inc"""-tax Officer

may, if the c e r t i f i c a te has not been produced before h i e,

r e c a ll the c e r t i f i c a te at any time after aation under either

of the "aid sub-paragraphs hau been i n i t i a t ed and thereafter

the c e r t i f i c a te shall be dealt with in accordance with such

order.

(P) Where, in consequence of an order under sub-paragraph

(1) or sub-paragraph ( 3 ). the Income-tax Officer finds that

the mount for which the c e r t i f i c a te was o r i g i n a l ly issued

to a company in in mcccai of the Mount determined under the

order aforesaid, he may set off the (mount of suoh excess

against the amount of any other c e r t i f i c a te which has become

due co the I nt company.

(7) Where at any time after action haw been i n i t i a t ed

under sub-paragraph (1) or sub-paragraph (3), the Incom*-tJ"tf

Officer finds that the relevant c e r t i f i c a te has already been

produced before him and that -

(i) no adjustment or pay sent has been made in pur*

suonce of s u b - s e c t i on '2) of section 280 ZB, he Bay deal

Wt th the c e r t i f i c a te in accordance with h is order under

e i t h er of the said sub-paragraphs;

(11) a p a rt of the (mount covered by the c e r t i f i c a te has been adjusted and the payment of the balance has not been made under the p r o v i s i o ns of the said sub-section, he may cancel the c e r t i f i c a te in so far as it r e l a t es to the amount of such balance and thereafter, where neces- sary, i s s ue a fresh c e r t i f i c a te in accordance with h is order under cither of the said sub-paragraphs;

( i i i) the whole of the amount covered by the c e r t i f i- cate has been adjusted or paid under the aforesaid sub- s e c t i o n, or in a case f a l l i ng under clause ( i i) th* amount already adjusted is in excess of the amount de- termined under the order aforesaid, he may serve upon the company a n o t i ce of den and under s e c t i on 156 for

th* sum by which th* mount of the c e r t i f i c a te o r i g i-

nally issued or. as the case nay be, th" amount ad-

justed or paid exceeds th* amount determined under the

order aforesaid, as if it were a sum payable in conse-

quence of any order passed under the Act and all the

provision! of the Act shall applv accordingly,

9. Service of notice*, orders tnd c e r t i f i c a t e s .- All

notices, orders and c e r t i f i c a t es issued under this Scheme

nay De addressed and served in the manner specified in

section 28 2.

10. Issue Of duplicate c e r t i f i c a t e .- (1) In the event of l o ss or destruction of a c e r t i f i c a te the amount shown whereo has not already been adjusted or refunded by th* Income-tax Officer under section 280ZB, he may. on application made to him by the company and after making such inquiry as he deeas f i t, issue a duplicate of such c e r t i f i c a te :

Provided that no such application for a duplicate shall

be entertained after th* expiry of one year from the date

of th* original c e r t i f i c a t e.

(2) Where a duplicate has been issued under sub-paragraph

(1), it shall bear th* endorsement

DUPLICATE OF CERTIFICATE BEARING BOOK NO

VOUCHER NO.. DATED - VALID

ONLY IF THE ORIGINAL HAS NOT BEEN ACTED UPON'

mad* in red ink; and the original c e r t i f i c a t e, if and when

discovered or produced thereafter, shall be of no effect.

APPENDIX

FORM NO. 1

TAX CREDIT CERTIFICATES

Application for thm grant of Tmx Credit Certificate

[See paragraph 3 of the Tax Credit Certificate

(Corporation Tax) Scheme, 19GG]

To

(Income-tax Officer;

Sir.

I> - being the principal

(name)

officer of Messrs. Ltd., request that

(name of the company)

a tax credit c e r t i f i c a te under section 280ZB of the Income-

tax Act, 1961 be granted for the appropriate amount to whiak

the aaid company is e n t i t l ed for the atsenBuent year 19

19 The relevant p a r t i c u l a rs are furnished herein below.

1. Name and address of the coup any

2. G.I.R. No.

3. A r t i c l e ( s) manufactured or pro-

duced indicating the number (s)

of the relevant i t e n ( s) of the

First Schedule to the Industries

(Development and Regulation)

Act, 1951.

4. Assessment year for which the

tax credit aerti f i c a te i " cl aimed

5- Where the company is not l i a b le to

pay any income-tax or surtax in res-

pect of i ts p r o f i ts and gains a t t r i-

butable to the manufacture or pro-

duction of the a r t i c l e ( s) specified

against S.No. 4 for the ba"e year,

namely, assessment year 1965-66, any

succeeding assessment year for which

the company has f i r st become l i a b le

to pay such tax (succeeding base

year)

19 --19

6. D e t a i ls regarding the base year

1365-66/succeeding base year 1 9 . . . . - - 19

INCOME-TAX

(1) Date of the order of regular assessment

( i i) Where the total income determined in

the regular assessment has been modi-

fied by an order in appeal, revision

or any other proceeding under the In-

come-tax Act, 1961. the date of such

order. Rs

( i i i) Total income determined in the regu-

lar aaeesement as modified by an

order, if any, referred to in item

( i i) Rs

(iv) Tax payable on the total income spe-

c i f i ed in item ( i i i) R"

(v) P r o f i ts and gain a attributable to

the manufacture or production of the

a r t i c l e ( o) s p e c i f i ed against S.No.3

included in the total income specified

in item ( i i i) Rs

ir 1J l it I -' " — . .. ~. . .

(YI) Tax attributable to th* profit* and

gains specified in it"a {*' B*

SUH1 AX

( • i i) Dot* of the order of regular assess-

ntnt

( v l i i) Wh*r* th* chargeable p r o f i ts deter-

mined in the regular assessment hare

been modified by cm order in appeal,

revision or any other proceeding

under th" Companies (Profits) Surtax

Act, 1964, the date ot such order.

( i i) Chargeable profit* determined in the

regular assessment as modified by an

order, if any, referred to in item

(viii) Rs

(x) Surtax payable on th" chargeable pro-

f i ts specified in item (Ii) Rs

(si) Chargeable profits attributable to

th© aanufaatare or production of th*

articled) specified against S.No. 3

included in th* chargeable profits

in item (ix) Ro

( x i i) Surtax attributable to th* charge-

able- p r o f i ts specified in i t ea (xi) Rs

( x i i i) Total of income-tax attributable to

th* profit* and gains specifi"d in

Item (T) tad surtax on the chargeable

p r o f i ts specified in itea (xi) - [lte=

(vi) pjua iten ( x i i )] Rs

7. Particular* relating to the relerant year

(assessment year specified against S.No. 4) ;

INCOME-TAX

(i) Date of furnishing of return of incoae

(Ii) Total income as per return Rs

( i i i) Tax payable on the total income spe-

c i f i ed in item ( i i) R"

(iv) P r o f i ts and gains attributable to the

manufacture or production of the

a r t i c l e ( s) specified against S.No. 3

included in the total income speci-

fied in item ( i i) Rs

. a] -

i (v) Tax attributable to en* profits and

gain a specified in ite" (ivl Rs

SURTAX

(vij Date of furnishing of return of charge-

abl e profi ts

(vii) Total chargeable profits as per

return Rs

( v i i i) Surtax payable on the chargeable

profits specified in item (vii) Rs

(lx) Chargeable profits attributable to

the "cmufoctiu* or production of the

article(o) specified against S.No.3

included in the total chargeable profits

"p"cified in item (vii) Res

(;:) Surtax attributable to the chargeable

piro fi tsi npeci £i*d in i ten (ix) Ru

(xi) Total of income-tax on the profits and

gains specified in item (iv) and sur-

tax on the chargeable profit* specified

in item (ix) [item (v) plus item (x)] Ro

6. Amount by which the tax shown against item

(xi$ of S.No. 7 exceeds th* tax shown against

itea ( x i i i) of S.No.6 Re

9. Twenty per cent, of the amount shown gainst

S.No.8

RB 10. Ten per oent. of the amount shown against

item (xi) of S.No.7 Rs. ..

1 hereby declare that to the best of my knowledge and be-

l i ef the information furnished above is correct, complete and

is truly stated.

Yours faithfully,

PI ace Signature ,

(Principal Officer)

Date

FORM N o. 2

TAX CREDIT CERTIFICATES

Application for the grant of Tax Credit Certificate

[See paragraph 3 of the Tax Credit Certificate (Cor- poration Tax) Scheme, 1966]

To

(Incowe-tax Officer)

Sir.

I ...--." , being the principal (Name;

officer of M"siri

Ltd.,

iName of the Company)

request that a tax credit certificate under section 280ZB of the Income-tax Act, 1961 be granted for the appropriate further amount to which the said company is entitled for the assessment year 19...— 19..- . The relevant particu- lars are furnished hereinbelow

1. Name and address of the company

2. G.I.R. No.

3. Article(s) manufactured or pro-

duced indicating the number (s) of the relevant item(s) of the First Schedule to the Industries (Development and Regulation) Act, 1951.

4. Assessment year for which the

tax credit certificate is claimed

5. Particulars of any certificate(s) Boole No

previously granted In respect of Voucher No the said assessment year Amount Rs

Date

6. Where a certificate has been pre- viously granted to the company in respect of the said assessment year, state the reason(u) for mak- ing a further application for the

grant of certificate for the same

asaeuoment year.

_

7. Where the company is not liable

to pay any income-tax or surtax

in respect of its profits and

gains attributable to the manu-

facture or production of the

artlcle(s) specified against S.

No.3 for the base year, namely,

assessment year 1965-66, any

succeeding assessment year for

which the company hao first be-

come liable to pay such tax

(succeeding base year) 19... — 19... .

8. Details regarding the base year

1965-66/succeeding base year

19. .. — 19... ;

INCOME TAX

(i) Date of the order of re-

gular assessment

(ii) Where the total income

determined in the regular

assessment has been modi-

fied by an order in appeal^

reyision or any other pro-

ceeding under the Income-

tax Act 1961, the date of

such order.

(iii) Total income determined in

the regular assessment as

nodified by an order, if any,

referred to in item (ii) Rs

viv) Tax payable on the total

income specified in item

(iii) Rs

(v) Profits and g lins attribu-

table to the manufacture

or production of the arti-

c l e d) specified against

S.No.3, included in the

total income specified in

item (iii) Rs

(vi) Tax attributable to the

profits and gains speci-

fied in item (v) Rs

12"8 THE GAZETTE OF INDIA EXTRAORDINARY [PABT 11

SUKTXX

(vii) Date of the order of re-

gular assessment

(Vill) Where the chargeable pro-

fits determined in th* re-

gular a""Aisn"nt have be"n

modified by an order in

appeal, revision or any

other proceeding under the

Companies (Profits) Surtax

Act, 1964, the date of "uch

order

(ix) Chargeable profits deter-

mined in th* regular assess-

ment as modified by an order,

if any, referred to in iten

(viii) Rs

(x) Surtax payable on the charae-

able profits specified in

itea (ix) R"

(xi) Chargeable profits attri-

butable to the manufacture

or production of the article"(s)

specified against S^Nb.3

included in the chargeable

p r o f i ts s p e c i f i ed in i t em ( i x) R s . ., •>, (xii) Surtax attributable to the

chargeable profits speci-

fied in item (xi) Rs

(xiii) Total of income-tax on the

profits and gains specified

in item (v) and surtax on

chargeable profits speci-

fied in item (xi) [item (vi)

plus item (xii)] Rs .. ..

. Particulars relating to the relevant

year (assessment year specified

against S.No.4):

INCOME TAX

(1) Date of the order of regular

assessment

(ii) Where the total income deter-

mined in t i r u' ' t

SIC' * O * )] THE GAZETTE OF INDIA EXTRAORDINARY 1J97

order in appeal, revision or

any other proceeding under

the Income-tax Act, 1961, the

date of such order.

(iii) Total income determined in

regular a o t u n s nt a* modified

by an order, if any, referred

to in item U i) Rs -

come specified in item (iii)Rs

(v) Profits and gains attribut-

able to the manufacture or

production of the article(s)

specified against S.No.3 in-

cluded in the total income

specified In item (iii) P"

(fi> Tax attributable to the pro-

tits and gains specified in

item (v) Hs

SURTAX

(•iii Date of the order of regular

assessment

(•iii) Where the chargeable profits

determined in the regular as-

sessment have been modified

by an order in appeal, revi-

sion or any other proceeding

under the Companies (Profits)

surtax Act, 1964, the date of

such order

(ix) Chargeable profits determined

In the reqular assessment as

modified by an order, if any,

referred to in item (riii) Rs

(x) Surtax payable on the charge-

able profits specified in item

(ix) Rs

(fci) Chargeable profits attri-

butable to the manufacture

or production of the arti-

cle(s) specified against

S.No.3 included in the

chargeable profits speci-

(xii) Surtax attributable to the

chargeable profits •paci-

fied in item (xi) Rs

(xiii) Total of income-tax on the

profits and gains speci-

fied in item (v) and surtax

on the chargeable profits

specified in item (xi)

[item (vi) plus item (xii)] Rs

10. Amount by which the tax shown

against item (xiii) of S.No.9

exceeds the tax shown against

item Ixiiij of S.No.ff Rs *

11. Twenty per cent, of the amount

shown against S.No.10 R"

12. Ten per cent, of the amount shown

against item (xiii) of S.No.9 R"....

I hereby declare that to the best of my knowledge and

belief the information furnished above is correct, complete

and i" truly stated.

Yours faithfully.

Place.. . Signature

(Principal Officer)

Date

Where no application hai been mad* in Form No. 1 for th* ••me

• ••(••merit year, thr aord "further' should b" scored out.

FORM No. 3

COUNTERFOIL PDHM No. 3 FOIL FOHM No. 3

[See paragraph 4 of the Tax

[See paragraph 4 of the Tux

Credit Certificate (Corpora-

Credit Certificate (Corpora-

tion Tax) Scheme, 1966]

tion Tax) Scheme, 1966]

Tax Credit Certificate

Tax Credit Certificate

(Corporation Tax)

(Corporation Tax)

National Emblem

National Emblem

Government of Indica

Government of India

Certificate not negotiable

Certificate not negotiable

Book No Voucher No....,

OFFICE OF THE

OFFICE OF THE

Certificate issued to

Whereas Messrs

Ltd. is Messrs Ltd (name and address)

Amount of tax credit cer ti fied

Reference No.

Assessment year for which certificate is granted

Particulars of any Book No. -. certificated Voucher No. previously granted . in respect of the A">°u nt said assessment Date

year

being the excess of the am- ount of income-tax on pro- fits and gains attributable to the manufacture or pro- duction of the article(s) specified in the First Sche- dule to the Industries (De- velopment Regulation) Act, 1951 and surtax on charqeable profits attri- butable to the said manu- facture or production for the relevant assessment year over the amount of income- tax and surtax on such pro- fits and gains and chargeabl profits, respectively, for the base year/succeeding base year-

Now, therefore, it is INTERNAL AUDIT A, Total of income tax on pro- fits and aains attributable to the manufacture or pro- duction of the article(e) mentioned in the First Sche- dule to the Industries (De- velopment & Regulation) Act, 1951 and surtax on charge- able profits attributable tc the said manufacture or pro- duction, payable by the com- pany in the Oane year/suc- ceeding base year

Rs

certified that in respect of the said assessment year the company is entitled to a tax

under section 280ZB of the Income-tax Act, 1961 read with the Tax Credit Certifi- cate (Corporation Tax) Schem 1966.

(Income-Tax Officer

Place

B. Total of income-tax on pro- fits and gains attributable to the manufacture or pro- duction of the article(s) specified in the First Sche- dule to the Industries (De- velopment and Regulation) Act, 1951 and surtax on chargeable profits attri- butable to the said manu- facture or production, pay- able by the company in the relevant assessment year Rs

Date and seal

C. Amount by which the amount at B exceeds that at A (B minus A) Rs

D. Twenty per cent, of the

E. Ten per cent, of the

F, Tax credit admissible (D or E, whichever is lower) Rs

G. A m o u n t( B) for which

certi ficate(s)

granted previously R"

Certificate examined and found cor rect.

(Auditor)

bate

The amount shown on the obverse has been dealt with as under:-

A. Adjusted against tax/ penalty/interest/other sums in respect of the assessment year :-

19. . .- 19...R"... on

(date) 19... -19...Rs on

19.- - -19...Rs....on

19. ..- 19...Rs on

Total Rs

B. Refunded under Refund Voucher.No

The amount shown on the obverse has been dealt with as under:-

A. Adjusted against tax/ penalty/interest/other sums in rappect of the assessment year :-

19... - 19...Rs. ...on

(date) 19. .. - 19...Rs on

19... - 19...Rs on

19. .. -, 19. . .Rs on

Total Rs

B. Refunded under Refund Voucher No...,

Book No Book No

Irand t Grand

T o t al RB

* T o t al 3s

•

Signature

(Income-Tax Officer)

Circle/Ward/District

Place

* Thli .hould t i l ly with the "mount * Thi • ihould t . l ly vi th thernnoutit ihown on the o b v e m.

ihown on the obverse.

FOBM No. 4

TAX CREDIT CERTIFICATES

APPEAL TO

(Appellate authority)

[See paragraph 5 of the Tax Credit Certificate (Corporation Tax) Scheme, 1966J

(Designation of the

appellate authority),

" No of 19 19 Name and address of the appellant

Financial year to which the claim for tax credit certificate relates

Income-tax Officer passing the order appealed against

Paragraph and sub-paragraph of the Tax Credit Certificate (Corporation Tax) Scheme. 196G under which the Income-tax Officer passed the order appealed against

Date of the order appealed against

Date of service of the order appealed against

No. and date of the t'ax credit certificate, if any. in respect of which the appeal is made

Relief claimed in appeal

Whether personal hearing is desired

Address at "'hich notices may De sent to the appellant

Signature

'(Appellant )

STATEMENT OF FACTS

*

GROUNDS OF APPEAL

Siqnature

(Appellant)

FORM OF VERIFICATION

tf f being the Principal Officer of {Name) ;the appellant, do hereby (Nciiue of the Company)

declare that what is stated above in true to the best of my information and belief.

Place Signature

Date

Address

Note: Tne memorandum of appeal, ntetement ot fact* and the around* of

appeal muit be in duplicate and should be accompanied by a copy

of the order appealed against and where the appeal i X againat an

order granting a t"x credit certificate, by iuch certiilcate.

Q These particular* will be filled in in the office of the appellate

authority

* If the space provided herein is insufficient separate enclo"ures

may be used for the purpose.

FORM No. 5

TAX CREDIT CERTIFICATES

Form of application for Adjustment or Refund of the amount

of the Certificate.

[See paragraph 7 ol the Tax Credit Certificate

(Corporation Tax) Scheme, 1966]

To

The Income-tax Officer,

Sir,

I >

jbeing the Principal Officer of T! Ltd.. hereby apply iNaiua of th* Company)

for adjustment and/or retund of the amount of the certificate granted to the said company under section 280ZB of the Income tax Act, 1961. The relevant particulars are furnished here- inbelow:-

(1) Name and address of the company

(2) G.I.R. No.

(3) Assessment year in respect of which the certificate has been granted

(4) Particulars of the certificate Book No

Voucher No Date

(5) Amount of the certificate Rs

(6) Details showing amount used for

the purposes specified in the proviso to sub-section (2) of section 280ZB during the period specified in paragraph 6 of the Scheme :

19.. -19.. 19.. -19.. 19.. -19.. Total

(i) Amount used for repayment

of loans taken from any financial institution notified bv the Central Government (Details as per Annexure)

(ii) Amount used for the acqui- sition of any capital

aiset in India, including the .construction of any building, for the purposes of the business (Details as p_er Annexure)

(iii) Amount used for redemption

of debentures (Details as per Annexure)

T 0 T AL

I hereby declare that what is stated in this application is correct, complete and is truly stated.

Place

Signature

(Principal Officer) Date

FORM No. 6

TAX CREDIT CERTIFICATES

Receipt for Certificate produced

before the Income Tax Officer

[See paragraph 7 of the Tax Credit Certi- ficate (Corporation Tax) Scheme, 1966]

Received from

(Name and address of the Company)

Tax Credit Certificate (Corporation Tax) 3ook No

Voucher 1-Jo Dated

for Rs (Rupees

) .

(in words)

(Signature of the Income-tax Officer

Circle/Ward/Diatrict)

Place

Date

[ No.80/F.No.3(42)-65/TPL.]

JAMUNAA PRASAD SINGH. A d d l. S e c y.

PRINTED IN INDIA BY THE GENERAL MANAOER, GOVERNMENT OF INDIA PRESS,

NEW DELHI ANA PUBLISHED BY THE MANAGER OF PUBLICATIONS, DELHI, 1966