Subject NOT available · Indian Gazettes

click here for IIIF manifest

REGISTERED No. D. 221

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 89] NEW DELHI, WEDNESDAY, FEBRUARY 15, 1967/MAGHA 26,1888

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

as a separate compilation.

CENTRAL BOARD OF DIRECT TAXES

NOTIFICATION

INCOME-TAX

New Delhi, the 13th February 1967

S.O. 598.—In exercise of the powers conferred by section 295 of the Income- tax Act, 1961 (4.1 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. These rules may be called, the Income-tax (Amendment) Rules, 1967. 2. In rules 10 and 11 of the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), the words "and super tax" shall be omitted-

3. In Part II of the principal rules, after rule 11, the following sub-heading and rule shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1965, namely:—

"E. DEDUCTIONS TO BE MADE IN COMPUTING TOTAL INCOME

11 A, Limits for life insurance premia in the case of authors etc-—In the case of an individual being an author, playwright, artist. musician or actor. the total amount which qualifies for the purposes of com- puting the deduction under sub-section (1) of section 80A shall not exceed—

(i) an amount equal to the aggregate of 331 per cent, of the income from such profession included in his total income and of twenty- five percent. of the remaining part of the total income or

( 447)

448 THE GAZETTE OF INDIA EXTRAORDINARY [PART I I-

(ii) in amount of Rs. 12,500 as increased by 8-1/3 per cent, of the income from such profession included in his total Income, subiect to a maximum of Rs. 15,000.

whichever is less

Explanation.—In this rule, the expression "total income" means the total Income as computed before making any deduction under Chapter VIA. and before deduction of any amount Of annuity deposit under section 280-C".

4- In rule 19 of the principal rules, for sub-rule (3), the following sub-rule shall be substituted, namely:—•

"(3) Any borrowed money and debt due by the person carrying on the business shall be deducted and in particular there shall be deducted any debts Incurred In respect of the business for tax (including advance tax) due under any provision of the Act:

Provided that any such debt for tax (Including advance tax) shall, for the purpose of this sub-rule, be deemed to have become due—

(a) in the case of any advance tax due under any provision of the Act or of any tax payable under section 140A or under section 141, on the date on which, under the provisions of section 211 or sec- tion 212 or section 213 or section 140A or section 220, as the case may be, the payment first became due;

(>i) in any other case, on the last day of the period of time within which the tax is payable under section 220."

5 In rule 20 of the principal rules, the words, brackets and figures "or sub- section (2) of section 101", wherever they occur, and the words. Brackets rind figures "or sub-section (1) of section 101", shall be omitted-

fi In rule 2F) o£ the- principal rules, in sub-rule (1), for the words "without .Induction of super-tax or after deduction of super-tax", the words "after de- duction of tax'' shall be substituted.

7. In rule 30 of the principal rules, in the proviso to sub-rule (1), the words "and super-tax" shall be omitted.

8. The rule 48C of the principal rules, the following Exvlanuiion shall be added, namely:—

"Earplimatlan.- -The provisions of rule 48A. rule 48B and this rule shall not apply in respect of nnrmity deposit In relation to the assessment year commencing on the 1st day of April, 1067 or any subsequent assessment year ".

0 In rule 80 of the principal rules, for the words "income-tax and super tax", .vhcrever they occur, the word "tax'⁷ shall be substituted-

10. Tn Appendix TT to the principal rules,—

(H in Form Nos. 7, 0 and 2R, for the words "four per cent,", the words "six per cent" shall be substituted:

(li) in Form No. 13. the words "total world income", wherever they occur, and the words "or super-tax'¹, shall be omitted, and for the words "to deduct income-tax and super-tax at. the rates of. ... per cent and ... .per cent", the words "to deduct income-tax at the rate of.... per cent." shall be substituted;

(ill) in Form No. 14, the words "total work! income", wherover thev occur, shall be omitted;

(Iv) in Form No. 14A,—

(a) for Ihe word "super-tax", wherever It occurs, the word "income- tax" shall be substituted;

(!•>) the words "and total world Income" and the words and letters "and Rs respectively", wherever they occur, shall bo omitted:

SEC, 3(ii)] THE GAZETTE Of INDIA EXTRAORDINARY 4 49

(v) la Form No. 15,—•

(a) the words "or super-lax ' shull be omitted., and for the words and brackets "income-tax at the rates in force and super-tax at the rate of per cent, (with Union surcharge at per cent. and special surcharge at per cent, on income-tax and super- tax)", the words "income-tax at the rate, of per cent and surcharge at the rate of per cent- of the amount of the divi- dend", shall be substituted;

(b) for the foot note to paragraph 2, the following foot note shall be substituted, namely: —

"•Applicable only in respect of certificates issued under section 197(1} (b) in the case of a person not beinjf a company and not being resident in India";

(vi) in Form No- 16, under the heading "Particulars of tax deducted¹', item (iii) and Item (iv) shall be omitted, and item (v) 3hall be re- numbered as item (iii);

(vii) in Form No. 17, the word "Union" In item (ii), and items (Iii;, (iv), (v) and (vi), shall be omitted;

(viii) in Form No. 18, the word "Union" in item (II), and items (iii), (iv), (v) and (vi), shall be omitted;

(Ix) in Form No- 19,—

(a) the words, brackets and figures "or sub-section (2) of section 101"

shall be omitted;

(b) in the tabular statement under the heading "Details of Tax Deduc- tion", for the items "Union surcharge", "Special surcharge", and "Super-tax: Union surcharge and Special surcharge", the item "Surcharge" shall be substituted;

(d) in Note No. 4, for the word "super-tax", the word "income-tax" shall be substituted;

(x) in Form No- 20, under the heading "Details of tax deduction", the word "Union" in the second Item, and the third, fourth, fifth and sixth items, shall be omitted;

(xi) in Form No- 21,—

(a) columns 9 to 12 shall be omitted and columns 13. 14, 15 and 16 shall

be re-numbered as columns 0, 10, 11 and 12 respectively;

(b) in Note No. 1, after the words "house rent allowance" the brackets words, figures and letter "[exclusive of the amount exempt under section 10(13A)]' shall be inserted;

(xli) in Form No. 22, for the words "income-tax and super-tax" 'vhorever they occur, the word "tax" shall be substituted;

(xlii) In Form No. 24,~

(a) in the heading of column No. 19, after the words, figures and letters 'deductable under"'sectum 16", the words, brackets, figures ami letter "amount of house rent allowance (in col 8) which kexemnt under section 10(13A)" shall bo inserted; exempt

4^0 'J HE GA/I J TL OF INDIA EXTRAORDINARY [PAM I I-

(b) lor columns 21 to 33, the following columns shall be substituted,

namely.—

e h

h c

e h

i (

n o c

Total amount of tax deducted during the year on the amount

d e c u d e r

h c

o 8

g n

i r

e r

in column 25

)

d n o

)

n o

u d

4 2

n o

2 2

i t

n e e b

. l

y b

c e s

L o c

o c

n e d

e e y o

e c n a r

Surcharge Total of columns

s a h

Income- tax

—

o c n

—

v o

26 &27

u s n

3 2

0 2

3 2

r e d n u

, t i s o p e d

. l

r a

) i (

e h

e f i l

o o

L o c

L o c (

a s

0 S 2

(

t i

i t

y b

d n a

) s l i

n o

u n n a

i t

n u o

c e p s e r

n o

c u d e d

e d

c e s

a p

s n o

n u o

s k

c u d e d

i t

r a

e v

u b

m n u o

n u o

e c n a

(

r a e y

r e d n u

i r t

x a

m A

a b

m A B

m A

23 24

26 27 28

(xiv) I11 Form No. 25, for the existing headings In the tabular statement be-

low item 6, the following headings shall bo substituted, namely:—

Tax deducted

Amount of interest

Income Surcharge Total

tax

(xv) In Form No. 26,—

(a) in item No 5, for the words, figures and brackets "under sections

85 and 101(2)", the words and figures "under section 85" shall be

substituted;

(b) in item No. 7, for the word "super-tax", the word "income-tax" shall

be substituted;

Income-tax Surcharge ";

SEC, 3(ii;J THE GAZET1E Of INJJiA EX 1RAOKD1NARY 45I

(xvi) in Form Nn 27, for columns G to 17, the following columns shall be substituted, namely:—

Amount of tax deducted

Total amount

Surcharge

Income-tax

deducted

Amount deducted

Amount deducted Rate per cent

Rate per cent.

(col. 7+9;

Rs.

(xvii; for the Enclosure to Form No- 28, the following Enclosure shall be substituted, namely:—

"ENCLOSURE TO FORM'NO. 28

ORDER UNDER SECTION 210 OF THE INCOME-TAX ACT, 1961

•

Name of assessee District or Area

Status Number in General Index Register

Address

Rs.

Total income on the basis of which

tax under section 140A has been paid regular/ provisional assoasmenTlias been made

being that for the year 19 19... , as reduced by the amount of * capital gainB included therein, if any.

Less share of income, if any, from a registered firm if the assessment of the flnn has been completed for a year later than that referred to ubovc.

Add share of income, if any, from such registered firm according to the

latest completed assessment of the firm

Income subject to advance tax . . ..

Income-tax Rs.

Gross income-tax chargeable on 'income subject to advance-tax' .

Sums included in 'income subject to advance tax' in respect of which income- tax is not payable or on which a rebate of income-tax is admissible—

(j) Share of income from an association of persons or body of indi- viduals or an unregistered firm on the profits of which tax has already been paid

E (ft) Interest on income-tax free securities

(iij) Other items

Total amount on which tax is not payable and the proportionate

tax on such an amount

4 52 T HE GAZETTE OF INDIA EXTRAORDINARY [PART I T-

Deduct tax which is .deductible under sections, iyz 10 195 on any 'income

included in the 'income subject to advance tax' . . ..

Net amount of income-tax . . . . . . .. Less amount on account of estimated double income-tax relief, if any

Balance payable . . . . . . . . .. Less tax already paid in the financial year under section 210 in compliance

with the previous notice of demand served on 19

Net amount of tax payable

T O T AL S UM PAYABLE ( IN F I G U R ES AS W E LL AS IN W O R D S ), Rs

(Rupees

)

J I . L In c - U J. C fl i cr Date

Address:

(xviii) for Form No. 29J the following Form shall be substituted, namely:—

"FORM NO. 29

(Set rule 39)

ESTIMATE OP THE ADVANCE TAX PAYABLE UNDER SECTION 212(1) OR (2) OR (3) OF THE INCOME-TAX ACT, 1961 FOR THK FINANCIAL YEAR ENDING ON THE 31ST MARCH, 1 9 . . ..

Name of the assessee Status (Please state whether individual, Hindu undivided family, local au-

thority or an association of persons etc.) . . . .

Address :

resident

Whether resident but not ordinarily resident

non-resident

In the case of a firm, whether the firm has been registered in the last com-

pleted asscssment^whether the firm has submitted an application or declaration for registration under section 184(1) or section 187(7), as the case may be. (Date of application or declaration should be given.)

The tax payable by the assessce named above for the "previous year"

ending on relevant to the assessment year 19 19 is estimated as follows:

1. Estimated "income subject to advance tax":

(1) Income from "Salaries"

(2) Interest on securities

(3) Income from house property Rs

(4) Profits and gains of business or profession : (a) Proprietory business or profession :

Name Address

(")

SEC. 3(ii)] THE GAZETTE OF INDIA EXTRAORDINARY 453

(b) Share from firmfe):

Name of the firm Address Whether firm has been Share of income

registered in the last completed assessment

(5) fncomc from other sources:

(i) Dividends . . . , Rs (it) Interest . . .. Rs (Hi) Other incomes . , . Rs

TOTAL . . . . Rs

Income subject to advance-tax , Rs. . ^

Income-tax

Rs.

2. Gross income-tax chargeable on income subject to advanced-tax

3. Sums included in income subject to advance tax in respect of which no

tax is payable or on which a rebate of tax is admissible :

CO Share of income from an un-rcgistered firm on which the tax will be paid by the firm , . " . . . .

(zV) Assessee's share in the amount of tax payable by a registered firm ("0 Share from an association of persons or body of individuals on which tax will be paid by the association or body . . . (iv) Interest on income-tax free securities . . . . . (v) Any other items not being dividend referred to in section 85A . Total amount on which tax is not payable and the proportionate tax on such

amount . . . . . . . . , . .

4. Excess of 2 over 3 . . . , . . . . .

5. Deduct

Amount of tax deductible under sections igz^to 195 on any 'income

included in the income subject to advance tax . , . . ",

6. Net amount of income-tax . . . . . . . .

7. Less: Amount on account of estimated double income-tax relief, if any

8. Net amount payable

9. Less:

(1) tax already paid in the financial year under section 212 . (YM tax included in item 8 of which the payment is deferred under

section 213 to 19 19

C[ certify that the part of the income on which payment of tax is deferred is receivable or adjustable normally on 19. .)

454 T HE GAZETTE OF INDIA EXTRAORDINARY [PART II-SEO. 3(11)]

10. Balance payable . . . . . . . . .

Si^natme of the person making Date

the estimate.

Place

Status

'The Income-tax Officer,

NOTE¹;.— (i) The estimate of tax should be bigned by a person who is authorised to sign a return of income as provided in section 140 of the Income-tax Act, 1961.

(2) In the case of a registered firm, the firm has to submit an estimate of the'advance lax payable, if any, bv it in accordance with Part I of the First Schedule to the annual Finnncc Act, The individual partners have also to submit an estimate uf the advance tax payable by each including therein the share of income from the registered firm.";

(\i\) in Form No. 3d, the words, bracket and figure "and total world income (See note 2)", the words "and Rs respectively", the words "and super-tax'', wherever they occur, and Note No- 2 shall be omitted and Notes No, 3 and 4 shall be re-numbered as 2 and :i respectively.

[No. 10/F. No. 3(3)G7-TPL.l

V. RAMASWAMI IYER, Secy. Central Board of Direct Taxes-

'•RIN'IFD IN INDIA ll\ TUT l . l M R ft MANAC.m, GOVERNMENT OF INTlIA PRESS, NEW DFIHI AND l-IJIUIblllO W> 111 h MANV.I'R or r UM ICA1 IONS, DELHI, 1 9 67