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REGISTERED No.D.221

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 127] NEW DELHI. FRIDAY, MARCH 10,1967/PHALGUNA 19,1888

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 10th March 1967

S.O. 846.—In exercise of the powers conferred by section 295 of the Income- tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:—

1. (1) These rules may be called the Income -tax (Second Amendment) Rules, 1967.

(2) They shall come into force on the 1st day of April, 1967.

2. For rule 12 of the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), the following rule shall be substituted, namely:—

"12, Return of income.— (1) The return of income required to be furnished under sub-section (1) or sub-section (2) or sub-section (3) of sec- tion 139 shall,

(a) in the case of a company, be in Form No. 1 and be verified in the manner indicated therein;

(b) in the case of a person not being a company, be in Form No. 2 and be verified in the manner indicated therein:

Provided that in the case of a person, not being a company or a co-opera- tive society or a local authority, whose total income (as computed

(571)

572 T I*E GAZETTE OF INDIA EXTRAORDINARY [FART I I-

by such person) does not exceed fifteen thousand rupees, the return of income may be furnished in Form No. 3 and shall he verified in the manner Indicated therein.

<2) Notwithstanding anything contained in sub-rule (1),—

3. In Appendix II to the principal rules, for Form Nos. 1, 2 and 3, the fol- lowing Forma shall be substituted, namely:— "\_For Companies only']

INCOME-TAX ACT, 1961

FORM NO. I

[See rule 12(1) (a)]

( G.I.R. No Z ^ Z Z m Z H I^ National Emblem)

(To be filled in by the Income- tax Office).

Return of Income

Impyrtiit: A,U lpplicible entries Assessment year 19 19 a il niexures must be filled in. If :h? spice is not suffbient, Previous yesr(s)—ending" plen3 attach separate statements, (See Note 1) 4 ^ j •srially numbered, and specify inPartVTIIthenumbcr of sheets injeach statement. Name

Address State whether resident or non-resident ~—

PART I—Statement of Total Income

[See Note 2]

Amount of income or loss [If none, write 'NONE'] [Loss to be shown in red ink)

Head of Income 1

Irdian income Foreign income [See Note 3] [Sen Note 4]

1. Interest on seourl- (a) GDvernment securities

Rs. Rs.

tics [Anncxure B] (6) Others

%. Income from House Property [Annexure C]

3. Profits and gains (a) Own business or profession

of business or [Annexure D] : profeiaion. (j) Speculation business (Sec.

28, Expl. 2)

(11) Other business or profession.

(b) Share in the profits of a regis- tered firm [See Note 5] : (i) Speculation business (Sec.28,

Expl. 2)

(it) Other business or profession.

Sua B(U)] THE GAZETTE OF INDIA EXTRAORDINARY 573

Rs. Rs.

(e) Share in the profits of an un- registered firm or association of persons or body of individuals [See Note 5].

(i) Speculation business (Sec.

28, Eipl. 2).

(if) Other business or profession.

4. Capital Gains (a) relating to short-term capital assets

" [Annoxure E]

(6) relating to other assets*

(0 lands or buildings or any

rights therein.

(if) Others

5. Ii;jti;frjm:>th:jr (a) Dividends [Annexure F.]

s)a:c;i. (i) Interest other than interest on

securities.

Aggregate of items 1 to 5

T o r u, IN::DVI3 (U computed in Annexure G)

)rss : 1. If chii-i ire liff-reit prsvious yeira for different sources of income, the source or sources should bo indicated against each previous year.

2. If tha income of any other person is incluiible in the total income under the provisions of sections 60,61,62 and 63 of ths Incoms-tax Act, 1961, such income should also be shown in this Return under the appropriate heads.

3, 'Indian Income'means income which iccruai or arose or was received in India or is de;m=J to havo accrued or arisen or been received in India in the previous year.

4. ' Foreign Income' means all income which accrual or arose outside India but is not deemed to hive accrued or arisen and is not also received or deemed to have been received in India in the previous year. (This colomn should not be filled in by a non-resident company).

5, Share in the incom; of che firm uiler tha h : ii "Profits and Gains of business or profession'' should alone be shown in this item. Where the firm has income under any othor hoai or h;iis of income, the share of the assessee in such income shou Id .be shown against the appropriate items.

574 T HE GAZETTE OF INDIA EXTRAORDINARY [PART II—

PART II—-Statement of sums not included in Part land which the assesses claims to be not taxable for

any reason

Particulars

Amount RCQBODS for its being Rs. claimed as rottaxabte

i. 2. 3- 4. 5-

TOTAL OF PART II

PART III—Statement of sums included in total income in respect of which income-tax is not

payable or which Qualify for rebate or deduction of income-tax.

Particulars Amount

Rs.

i. Interest on tax-free securities [Section 86A1 2. Proportionate part ofthe tax payable by a registered firm [Sec. 86 (iv)] . 3. Share in the income of an unregistered firm or an association of persons or a body of individuals, where tax has been paid or is payable by such firm, asso- ciation or body. [Section 86(iii)(v)l —— • 4. Profits from new industrial undertakings or hotels [Sec. 84) 5,. Dividends,from new industrial undertakings or hotels [Sec. 85J . . — .—— 6. Dividends from domestic companies (other than dividends shown against

item 5 above), eligible for deduction of tax under section 85 A—

(a) received by a company which is not a domistic company from a closely

, . . held Lndiftn.cojnpanyj mainly engaged in any specified priority industiy ————_ (6) other dividends

. . . .. '—-—'~^—

7. Dividends from certain foreign companies [Scc.SsB] . . . —• —— 8. Royalties etc. from certain foreign companies [Sec. 85C] . . . _ _— 9. Donations for charitable- purposes etc. and for renovation or repair of a temple

etc. [Sec. 88]

10. Dividends attributable to agricultural irccrrc 0 the company payirgthe . . .

dividends [Section 235]

11. Other items, if any (Give details)

TOTAL OF PART I II

PART IV—Statement of tax deducted at source and of advance tax paid

Tax deducted at source

(Tax deduction certificatea to be attached) Advance tax paid

Particular Amount Of tax Date of payment Amount

Rs.

Interest on securities .

Other interest

Dividends

Any other Income

TOTAL . TbTAL

PART V—Statement of Particulars in Respect of the Company) and its Si&sidiary Company (its)

I. AddressoftheRegistcredOmceofthecompany 2. Address of the principal place of business

of the company in India.

3. Address(es) of Branch(cs) 4. Name(s) and address(es) of subsidiary

company(ies)

5.T;Where the company (or any person acting on behalf of the company) is a partnetin a firm (or firms) or a member of an association (or associations) of persons or a body (or bodies) of individuals.

Name and address of the Name of each partner/ Address of each part- Extent of share of flrm/association/body member, including ner/member each partner/member the assesses, or any

alf of the aBsesaee-

Eerson acting on be-

PART VI—Stitewmt of P irticxlars RsUvant for Determining the rate of Tax Applicable etc:

I. Is the company—

(f) an Indian company [Answer 'Yes' or 'No'] . . , — (w) a foreign company which has made the prescribed arrangements for the

declaration and payment of dividends within India ?

[Answer 'Yes' or 'No'] . . ..

If the answer to'either (0 or (it) is 'Yes', then furnish further particulars as

in^items 2 to 4

t Is the company one in which the public are substantially interested ? .

[Answer 'Yes* or 'No']

If the answer is 'Yes', please furnish the required information in . Annexure H

3. If the answer to item 2 is 'No', does the company claim to be—

(a) an 'industrial company', that is to say, a company mainly engaged hi the business of generation or distribution of electricity or any other form of power, construction of ships, manufacture or processing of goods, or mining; [Answer 'Yes' or 'No' ]

(6) covered by the provisions ofsection 104(4) or a notification issued under

section 104(3) ? [Answer 'Yes' or 'No']

^^^—^——

If the answer is 'Yes', please state— ,(i) value of capital assets, being machinery or plant (other than office

appliances or road transport vehicles) as shown in the books on the last day of the previous year.

Rs.

(w¹) class of company notified under section 104(3) • • • ' —— (c) a company in which 75 % or more of its share capital was beneficially held throughout the previous year by charitable institution(s) or fund (s) which is/arc exempt from income-tax in rcBpect of its/their dividend income ? [Answer 'Yes' or 'No']

-. —

4. Is the company a banking company/an investment company/a trading

company/any other company ? (Please state which category)

*„$ THE GAZETTE OF INDIA . LA< r ARY [PAKT I I-

PART VII—Statement of Other Particulars (Not to be filled in by a foreign company which has not made the prescribed arrangements for the declaration and payment of dividends within India.)

I. Amount of profits and gains attributable to the business of generation or

distribution of electricity or any other form of power or of construction, manufacture or production of any one or more of the articles or things In the Fifth Schedule to the Income-tax Act, 1961 [Sec. 80 E],

Rs.

3. (a) Date of the annual general meeting before which the accounts of the

previous year were laid

(6) Amount of the dividend declared, if any, at the above general meeting Rs.

3. Amount of dividends other than dividends on perfcrcncc shares, declared or

distributed by the company during the previous year—

(a) declared at the general meeting held on Rs.

(date)

(b) distributed as interim dividend on Rs. ^ (c) distributed as dividend within the meaning of section

2(22)(a), (V), (c) or (d) on Rs. Rs

(date)

PART VIII—List of Annexures and Statements

[Please mark in the appropriate columns—

y/ for Annexures filled in ; X for Annexures not filled in,]

ANNBXURE Number of sheets in Statement No,

B C D E F G >H J ¹ ² 3 4 5 ⁶

Verification , son/daughter/wifc of Shii

rr (Name in Block Letters)

, being the

(Name of father/husband)

(Designation)

(Name of assesses company)

solemnly declare that to the best of my knowledge and belief the Information given in this. Return and the Annexures and Statements accompanying it is correct and complete, that the amount of total income and other particulars shown are truly stated and relate to all the previous years relevant to the assessment year commencing on the 1st day of April, 19

I further solemnly declare that no other income accrued or arose to or was received by the company during the said previous years and that the company had, during the said previous years, no other source of income.

I further declare that the company wa's resident in India during the previous year(s) for which this Return is made/not resident in India during the previous year or any of the previous years for which this Return is made.

I further declare that, in my capacity as

(Designation) I am competent to.make this Return and verify it on behalf of the company. Date —

__-. (Signature of the Principal Offfcer) Place •

Seal of the company

IMPORTANT: Before signing the verification the signatory should satisfy himself that the

return is correct and complete in every respect.

[Any person making a false statement in the Return will be liable to prosecution under section 277 of the Income-tax Act, 1961, and on conviction will be punishable with rigorons im- prisonment which will not ordinarily be for less than six months and may extend to two years.]".

"EC. 3(il)] lxJ£ GAZETTE OF INDIA EXTRAORDINARY 577-

ANNEXURE B

Interest on Securities

{See sections 18—21)

Name of assessee

Assessment year : 19... .19.. ~.

Particulars of security

of interest due

held

Serial No.

Face value of the holding

Gross amount during 5 the year

Amount of tax deducted at source

[See Note 1]

On Govt. securities

On other securities

Rs.

Rs. •

Rs.

TOTAL

On Govt. On other securities securities

Gross amount of interest due during

the year.

Deductl In the case of a company (a) Amount of expenses incurred for

other than a Banking realising the interest Company. [See Note 2]. Rs.

(b) Amount of any in- terest payable on moneys borrowed for the purpose of invest- ment in the securities shown in column 2 [ See Note 2]

RS.

In the case of a Banking (a) Amount to be re-

Company, garded as sum reason-

ably expended by the company for realis- ing the interest [Sec- tion 20(l)(i)] [See Note 2] Rs.

itiE l i A ^ i l l E . OF INDIA EXTRAORDINARY [PART II—

On Govt. On Other Securites Securites

Q>) Amount to be re- garded as interest payable by the com- pany on moneys bor- rowed for the pur- poses of investment in the securities shown in column 2. [Section 2o(i)(ii)] [See Note 2] Rs.

. Net Amount of Interest on Securities Carried to Part I of the Return

Signature of the Principal

Officer

Datej Seal of the company

NOTES:—

1. In the case of any security of the Central Government issued or declared to be income-tax free or any security of a State Government issued income-tax free the income-tax whereon is payable by the State Government, enter the words "Tax free" in column 6.

a. The expenses and interest at (a) and (b), respectively, should be shown separate in respect of interest on Government securities and interest on other securities; where separate figures are not available, an apportionment should be made.

ANNEXURE C

Income From House Property

Name of assessee—

SI. No.

Address of property (including Munici- pal or other num-

Assessment year: 19 ig——

Annual Muni-

cipal valuation

of the property

[See Note-2]

ber)

Person in whose name the property stands in the Municipal or other records

If the company is a part owner of the proper- ty state the extent of com- pany's share and the names of the other part-owners and their shares

Where a part of the property is used by the company for the purposes of the business or profession, state the pro- portion of the remaining part to the whole of the property [See Note i]

Sum admissible in respect of newly cons- tructed build- ings, vide sec- ond proviso to sec 23(1)

Net amount after deduct- ing amounts shown in cot. 8 and 9 from the amount shown in co], 6 or coL 7, as the case may be [Ste Note 5] Tenant's lia- bilities relating to taxes levied Dy a local au- thority bnt some by the owner and iJaimed as a deduction See Note 3]

Full annual rent payable by the tenant as in- creased by the amount, if any, of the owner's burden for taxes levied by a local authori- ty borne by the tenant

10 8

Rs.

R s.

Rs.

NOTES : 1. (a) Where the whole of the property is used for the purposes of the business or profession of the company, the property should rot be listed l

this Annexure.

(6) Where apart of the propertyis soused, the proportion of the remaining partto the whole ofthe property may be determined on the basis of

the area used for the business or profession and the remaining area.

2. Wriere a part of the property is used for the purpose of the business or profession, the amount to be shown in col, 6 will be a proportion of the annual municipal valuation ofthe whole ofthe property according to the proportion of the remaining part to the whole shown in col. 5. 3. In the case of house property, the construction of which was completed on or after the 1st April, 1950, the claim is to be restricted to one half of

the total amount of such taxes levied by the local authority.

4. In the case of a building (comprising one or more residential units) the erection of which is begun and completed after the 1st day of April, 1961, the annual value shall, for apjeriod of three years from the date of completion ofthe building, be reduced by a sum equal to the aggregate of (i) in respect of any residential unit whose annual value does not exceed Rs. 600 the arnount of stKh annnal value; and (ii) in respect of any residential unit whose annual value exceeds Rs. 600, an amount of Rs. 600; so however that the income in respect of any residential unit is in no case a negative figure. Where a part ofthe propertyis used by the employees of the company for their residence free of rent, this deduction will not be admissible in respect of the part so used.

5. The higher of the fig ires given in columns 6 and 7 should be taken as the basis for determining the income from property.

Total of columns II to 18

Allowance for repairs [See Note

Collection charges paid (not to ex- ceed 6% of

Ground rent paid for the property

). 6]

Unrealised rent (De- tails to be given se- parately)

Land. Re- venue paid for the pro- perty the amount shown in coL io)

Amount claimed on account of property re- maining va- cant (Give details)

SI. No. (Re- peat from page (i)

Premium paid, to in- sure the property against damage or destruc- tion

Net amount after deduc- ting amounts shown in cols 8and.9from the amount shown in coi 6 or col. 7, as the case may be (Re- peat from pagei)

Interest on mortgage or capital char- ge or any annual char- ge on the property or interest on capital bor- rowed for acquiring, constructing repairing, renewing or reconstruct- ing the pro- perty

Net in- Amount of come/loss net income (coL io of assessee minus coL (where as- 19) sessee is the sole benefi- cial owner, repeat the figure in col. 20; where assessee is part owner, state the fraction as per col. 4 of the figure in coL 20)

3 g I

20 21

Rs.

Rs. Rs.

Aggregate income/loss carried to Part I of the Return.

oI s

Signature of the Principal Officer Date Seal of the Company

NOTES : (contd.') 6. The amount admissible on account of repairs is—(a) where the owner has undertaken to bear the cost of the repairs, a EUraetjual to one- sixth of the amount shown in col. 10, and (b) where the tenant has undertaken to bear the cost of repairs, the excess of the amount sfyownin coL 10 over the amount of rent payable, or one-sixth of the amount shown in col, 10, whichever is less.

SKJ. 3(il)] THE GAZETTE OF INDIA EXTRAORDINARY j 8l

ANNEXURE D

Particulars of Profits and Qains of Business or Professicn

SECTION I

Name of assessee Assessment year : 19—19—

If the accounts are kept on the mercantile system of accountiri g, a copy of 1 he mar uff el urir g account or trading account, the profit and loss account ard balartctheei nws1 teaiteihcd. Iftre accounts are kept on any other system, a description ot the system thculd te giver rrd a ccpy cf any statement which corresponds to the profit and loss acccunt ard talsrie elect in ire merantile accounting system must be attached.

A copy of the Auditor's Report under section 227 of the Companies Act, 1956 must also be attached.

Other business or profession

Speculation business

1. Profit or loss as per profit and loss account (or statcmtr t corresponding to the profit ard loss accour.t) for ihe previous year ended . ..

Profit (+) / Loss ( _ ) . ".

Rs.

Add (Deduct, if the above figurcis aloss)—

2. Anytaxable profit or gain notincludedinarrivirg at the

above figure of profit. 3. Reserve for bad debts 4. Sums debited for creation of any reserve or formakirg

any provision etc. which are not deductible in computing the profits under sections 28 to 44,

5. Interest credited to reserve or other funds 6. Expenditure of the nature of charity or presents :

(a) donations qualifying for rebate under sec. 88 (6) others

Rs. Rs.

7. Income-tax, surtax, penalty, etc 8. Costofadditionsto5oralterations,extcnsiorsor impro- vements to any of the assets of the busiress or profession 9. Other expenditure ofthe nature of capital expenditure . 10. Losses sustained in former years and debited in arriving

at thefigureof profit (or loss) shown above.

II. Sums debited on account of depreciation of any ofthe

assets ofthe business or profession, or development rebate in respect of any ofthe assets ofthe business

12, Sums debited on account of repairs and insurance of assets used only partly for the purposes ofthe business or profession (Give details)

13. Sums debited on account of expenditure on scientiflcrc- search or sums paid to any scientific research association, university, college or other institution.

14. Interest or any other sum which is not deductible under

the provisions of section 40(3) (Give details)

15. (a) Expenses and allowances charged in the accounts in respect ofthe items referred to in sec. 4O(c)(i) and (ii)[ Total of the amounts in col. 14 of section 6 of this Annexure]

(*) Expenditure charged in the accounts which has re- sulted directly or indirectly in the provision of any benefit, amenity or perquisite, whether convertible Into money or not, to an employee ofthe company, to the extent such expenditure exceeds one-fifth of the amount ofsalary payiableto himforthe period of his employment [Section 4o(cYiii)l [Totalofthe amountsin col. 16 of section 6 ofthis Annexure] .

JH2

Speculation Other business business. or profession

16. latheCBBeofaBanfcfagCompany,theamountwhich Is allowable laa a deduction under soc. 20(1) in computing its incoma under the hoad "Interest on Securities" (i.e. the amount claimed as deduction inAnnexureB).

17. Expenditure in the nature of entertainment expenditure which exceelathe amount computed under tho provisions of soc. 57(2)

18. Expenditure on advertisement, maintenance of accommo- dation in the nature of a guost house and on travelling by employees and others for the purpose of the business or profession which exceeds the amount admissible under 8ec.37(3)readwithRule6A.6B,6Cand6D of the Income- tax Rules, 1962. [Set Section 2 of this Annexure]

19. Any expenditure not incurred wholly and exclusively for . thepurposeofthebusinessorprofes8ion(GivedetallB) , 20 Any other expenditure which Is not allowable under the provisions of sections 28 to 44 (Give details) .

21. Amount of profits chargeable under

(a) section 41(2) [Total of the amount" in col. 17 of Section 3 of this Annexurel . . ..

(6) section 4i(iX3)>adi(4) (Give details)

32. Total of items 1 to 21

Deduct {Add if the above total Is a negative figure)—

23. Any profit or gain, capital sums or other items such as

interest on securities, lncomefromhoU3eproperty,etc., credited in arriving at the.above figure of profit which aje not taxable under the head "Profits and gains'of business or rofewon" or which have-already been charged to tax in the hands of the assesses (Give details)

24, Expenses on repairs and insurance of assets used only

plrtly for the purposes of the business or profession claimed as regulable deduction under section 38(2), ex- clviiingamou.it referred to in aection40(c)(Give details).

25. E'Cpi'isesa^iUowincesO-^/OT than depreciation)

referred to in section 4-}(c)(i) and (ii) which the company claims as reasonable deduction under sections 30 to 38 having regard to the provisions of section 40(c)(i) and (ii) {vide Section 6 of this Annexure].

26. Allow mce on account of depreciation and any unassorted

depreciation b rought forward from the earlier as sessment year [ \ T r.r~ gate of the amounts in columns 15 and 16 of Section 3 of this Annexure] . . ..

27. Scientific Research Expenditure :

(j) Any expeaditurc(not in the nature of capital expen- diture) laid out or expended on scientific research relate! to the business (Give details).

(M) Any sum paid to an approved scientific research association having as its object the undertaking of scientific r j s e wh or to an approved university, college or other institution to be used for scientific research (Give details),

(iii) Any sum paid to an approved university, college or

other institution to be used for research in social science or s f atistical research related to the class of business carried on (Give details) . . (iv) The appropriate part of expenditure of a capital nature on scientific research related to the business, aim'ssible under section 3

38. Amount of capiralcxpenditure on the acquisition of patent

rights or copyrignts admissible under sec. 35A (Give details)

Sue. 3(ii)] THE GAZETTE OF INDIA EXTRAORDINARY 583

Speculation Other business business or profession

29. Appropriate part of expenditure of a capital nature on promoting family planning among the employees of the company admissible under section 36(1) (ix) (Give details)

30. Any other allowable expenditure which has not been

charged in arriving at the above figure of profit/loss (Givo details)

31. Any other aum (not being development rebate or deve-

lopment allowance), which is admissible as a deduction under sections 28 to 44, which has not been charged in arriving at the above figure of profit/loss or which has been added back under any of the items on page 1 of this Anncxure.

. . ..

32, Development rebate admissible [See Section 4 of this

Annexure],

. . ..

33. Development allowance admissible

[See Section 5 of this Annexure]

34. Total of items 23 to 33

35. Net profit (or loss carried to Part

I of the return [Item 22 minus item 34]

iiatc

Signature of the Principal^

Officer

Seal of tha Company

SfiCrtoN 2

Name of assessee

Assessment year : 19 19

Statement of expenditure on advertisement, maintenance ofaccommodation in the nature ofa guest house and on travelling by employees and others for the

purpose of the business or profession, which exceeds the amount admissible under section 37(3) read with Rules 6A, 6B, 6C and 6D of the Income-tax Rules

1962.

Amount of excess if any ((".". coL 1 minus

Amount debited in Profit and Loss Account

col. 2)

Amount admissible under Rule 6B or the amount claimed to be reasonable for pur- poses of Rule 6B<2)

I. Expenditure on Advertisement

•

(a) Articles intended for presentation. (6) Advertisement outside India involving payment in foreign currency, (c) (i) Payment to a person whohassiibstantialinterestinthebusinessofthe

assesses or to a relative of such person [See Note 1].

H (n) Payment to a person who carries on business of, or profession as a publicity or advertising agent, wherein theassessee has a substantial interest [See Note 2].

(<0 Amount(s)exceedingR3.2,5C(0paidcitAefwuetAan by crossed cheque drawn

on a bank or by crossed bank draft.

TOTAL OF ITEM I

§ s

I—J

IL Expenditure on trtamtertance oj Cuest tfousei '.

SI. No.

Place at which located Amount of expenditure on maintenance debited in Pro- fit and Loss Account

Whether register required in Rule 6C(3) has been main- tained [Answer 'Yes' or 'No*]

Where answer in coL 4 or 5 is 'No' amount of expen- diture on maintenance [Repeat from col. 3]

. Whether the expenditure in col. 3 qualifies for allowance under Rule 6C(i) [Answer 'Yes' or W, If 'yes', state how]

6 3

w o

TOTAL OF ITEM II

I 9 I NOTES: I. Where the recipient of the payment is a company, finn3 association of persons or Hindu undivided family) it will be considered as having a 'substantial Interest' in the business of the assessee., not only where the companyj firm, association or family) as such, has such an interest, bat also where a director of the company3 or a partner of the firm, or a member of t ie association or family, or any relative of such director, partner or member, as the case may be, has a substantial interest in the business of the assessee.

2. The assessee coaipmy will be coasidered as having a substantial interest in the business of the recipient of the payment, not only where the com- g pany, as such has sjch an interest, but also where a director of tfre company, or any relative of the director, has such an interest.

I-<

I. Expenditure in connection srith travelling by cm employee or any other person

(a) Travelling outside India

No. of days spent outside India

SI. No.

Name of employee or other person, and desig- nation where relevant

Amount of expen- diture admissible under Rule 6D(i)

Amount of excess, if any (coL 7 moau col. 6)

Amount of expen- diture debited in Profit and Loss Account

No. ofdaysrecprir- • ed for travel by a reasonably direct i route in the mode of travel adopted

No. of days (out of No. in coL 3) main- ly devoted for the purposes of businesj Or profession of the assesses

TOTAL OF ITEM III(a)

(b) Travelling inside India {outside Headquarters)

Amount of excess, if any (i.e. col. 4 Bonus coL 5) Name of employee or other personj and designation

SI. No.

Amount admissible under Rule 6LX2)(b)

S alary including D .A., if the terms of employment so provide, but excluding all

where relevant

other allowances

Amount of expenditure (in- cluding hotel expenses or allowances paid) other than expenditure in respect of travel b y rail, road, water way or air, debited in Profit and

Loss Account

I-H

6 1

TOTAL OF ITEM III(b)

TOTAL CARRIED TO SBCTION I OF THIS ANNEXUKE [TOTAL OF I, II, III(a) AND IC(b) ]

Signature of the

Pf*adpalOJfc"

Date

geaJjoftheJCompwny,

S1CTI0N3

^Dejweej'atton

Statement of particulars required to bt furnished under section 34(1) ami 0/ J&e amount of depreciation

SL No.

Written down value of the asset as at the beginning of the "pre vious year" ['Actual cost* in the case of ocean-going ahipsl

Name of assesses —, Assessment year ; 19 19

Prescribed rate per cent [See Note4l In the case of an asset - which has been sold, discarded, demolished or destroyed during - the 'previous year',

Amount on which depreciation is allow- able (amount in col. 3+ amount in coL 4); in the case of an asset referred to in col. 6, the amount should be shown a* 'Nil*

Date from which the d new asset or the addj tions and extensions referred to in col. 4, were used for the put po&es of the business or profession, and date on which the al- terations and impro-

Description of the asset—-building, ship, machinery or plant,, furniture—ind uding any such asset which has been sold, dis- carded, demolished or destroyed during the "previous year" [Stt Note ll

the amount of "moneys payable" in respect thereof and the scrap value, if any {See Note 3]

[ vements referred to

"Actual cost" in the case of assets acquire • during the 'previous year*j and in the case of existing assets, ca- pital expenditure in- curred during the 1 'previous year' on ad- ditions, alterations, improvements and extensions thereto in column 4 were

[See Note 2]

> eflected

o g

00 00 No. of days forwhich the asset

Depredation daimed

was worked

Terminal allowance under sec. 32(1) (lil)

SI. Na (Re-

- [CoL (3+4) " w"

Doable shift

Terminal charge un- der tec. 41(2) [CoL 6 minus col. (3+4)1 [*" Note 6] Triple shift

Extra shift a

coL 61

Uowance

Initial

Normal

Total (cob. — 11 to 14)

[See Note 5]

Triple shift

Double shift

trout page I)

17 9

TOTALS CASRIED TO SECTION I OF THIS ANNEXTOE

Date: Seal of the Company

Signature of the Principal Officer.

>foTBS : 1. Where an asset has been sold) discarded, demolished or destroyed during the 'previous year it should he listed as a separateitem in column 2.

2. In the case of a motor car acquired for the purpose ofthe business or profession after the 28th February, 1966, for an amount in excess of Rs. 25,000

the 'actual cost* to be shown in col. 4 is Rs. 25,000.

3. 'Moneys payable' in col. 6 includes the sale price or any insurance, salvage or compensation moneys; where the asset which is sold, discarded' demolished or destroyed is a motor car acquired after 28-2-66, the 'moneys payable* to be shown in coL 6 will be computed by multiplying tie actual_arnount of sale price, insurance, salvage or compensation moneys and the amount of scrap value, if any, by the fraction:

⁶I

25,000

the actual cost of the motor car to the nssrw* as computed without liny ting it to Rs. 25,000.

4. Where the actual cost of any machinery or plant does not exceed Rs, 750, the rate of depreciation in respect of trach machinery or plant to be

thwre in col. 8 will be 100 per cent. (This provision applies for the assessment year 1966-67 and later as"ssjnent years).

5. Initial depreciation is admistib¹* in respect of only the bufldingi of the type referred to in section 32(1X1 v). 6. The amount to be entered in this column should be Hinted to the amount of depreciation actually allowed to th*"wiwwt in respect of the awe*

for all past years.

SittWSU

t I

D"wfc$ffKrf Adote

Staumtnt ofpartitttiari rtquktd to be fumdhtd far the purpose of uttiwii 33 a"rf 34 of the mount en devttopmtntrebau.

Name of asteasee Asseeament year [ 19 —19 .

Remarks

In the case of a

Rate of de-

51. No.

Description of asset i.e. shipj machinery

second-hand ship, the

                Actual cost    Date of acquisition
                of the  asset  of ship or date of in-
or plant        in  col. 2     stallation  of  machineij

number of years which

Amount of de- - velopment re- bate

velopment re- bate per cent

or plant

Amount of develop- ment rebate reserve created bydebittothe Profit & Liw s Account of the previous year [Sec 34(3Xa)

had expired between the date on which the ship was built a"r| the date of its acquisition by the assessee

O •n Z B

9 3

TOTAL GIEKED TO SEC

TION I OF THIS ANNESUI

Signature of tbe Prfnefpml Officer,

Date Seal of the company

SECTION 5 Devtlopmtnt ABewata

N a me of " s s c s s cc • ' . . .. 1 - •

A s s e s s m e nt y e ar 19 , • 19 , ,- 1 .

SUxtmmtl of partittdan pretcribtdfor purposa 0) ttctUm 3^4 and of the amount of Development AUoaance

(To be filled in only by a company carrying on a bustnea of growing and manufacturing tea in India.}

U3 relating to 1

Particnlj

planted at any time or which had been Nama of tea ostata Whothat

planting erf *°.a

bushes, after 31-3 Previonsly abaut

,-65 on land not ioned

"Go^ of

planting"

< See Note 1)

"Actual cost of planting¹ (col. 6 minus

Extent of land referred to in col. 4 (in be^arefi

col. 7) limited ]

Situated in an area • declared by the Board to bea"hill5 area" if so] specify tUej

"Previous year" in which the land wai praps"d.£

Defelopmei Allowance: 50% of the [amount in col, 8V

Amount, if any, of the cost in coL 6, -which has been met 1 directly or in- directly by any other per- son or autiyiri-

p R

ll Amount allowable uS a deduc- tion in res- •j 1 ect of the t second pre- vious year from the previous year preferred to in coL 4 (See Note 35

to an amount calculated at Rs. I2,5oof] Rs. KVXXD p(/ hectare of the! extent of laud in col 5 (See Note 2)

Amount allowable asa deduction in respect ol the 4th pre- vious year from the previous year referred to 4'n CoL 4 (coL 9- coL 10) (S" Noto

11 6

Partitulars rilaiing to pljnttng of tea i bashes, afUr 31-3-1965 and before 31-3-1970 in rtplactmettt of taabtu&ti thai hatuditd or

t hoot bteona perman&uly uselesiortanyltmAalrmidyftanttd.

Amount, if

^Development

S. No. (Re-

"Previous y"ar"

in which tht land1

wai pr"pu"d

"Cost of

,. planting" [

( S" Note i

"Actual cost

"of planting"

" (coL 14

u paroM col,

Extent at

land referred,

to in col. 12

(in hectares)

- Total am-

ount of

development

allowance

1 5) KmTtj>H

from page i)

Allowance

30% of the

amount inf

col 16)

Amount 0

development

allowance

leservc

created

claimed

(col. 9+col.

17 orcoL

[Sec, 33A

(3) 00 ]

any, of the

[) cast in cnL

14 wind' M

been met

directly or

indirectly b

any other

person or

authority

Amount allow-

able as a deduc-

tion in respect

of the seco-

nd year from

the pre-

vious" >ar

referred to in

coL 12

(See 'biota 3)

Amount allow.

' able as a de-

duction in

respect of the

4th previous

year from

the previous

year referred

to in col. 12

(coL 17—coi.

18) (See Note •

11 +

coL 19, as

the can

} may be)

t

t to anamocn

iy calculated at

Rs. 12,500/

Rs. icsooo

per hectare

of the extent

of land in

coL 13

(SeeNote 2

21 ia

TOTAL CASHED TO SBCTIQH I OF THIS ANNEXURB

S H

Signature of the

Principal Officer.

Date

Seal of the Company

NOTES : 1. The "Cost cl planting" to be shovtn in cohinmi 6 and 14 is the segregate of the following amounts namely i—

oI (a) cost of preparing the land] fb) cost of seeds, cuttings and nurseries; (c) cost of planting and replanting; and (d) cost of upkeep ol the tea bushes during the fem successive 'previous years' canrencicg with tfce 'previous year' shown in coL 4 or coL 12, as the case may be.

2. The calculation should be made at the rate of Rs. 12,500 per hectare of the extent of land shewn in col 5 or cd. 13, as the case rrey be, where the

land is situated in i"hflly area", and at the rate of Rs. IOJOOO per hectare of the extent of land shown in col. 5 or col. 13 where the land is

situated in any other area.

3. Where the daim for development allowance relates to the second previous year from the preTiom ye*r shown in coL 4 or col. 12 as the case

may be, no entry should be made in columns 10 and 11 or 18 and 19; where the daim relates to the 4th Previous year from the Previous year

shown is coi. 4 ox coL 12, en tries should be made in these columns as well, ard fcr the sake of convenience, the entries relating to such claim

should t" lilted undo a tapante serial number from the entries relating to the claim in lapect of the second previous yesr.

ANMILUU D

SacnoH 6

Nime ol awaiee >Anesaneat yen 19 19 1 1 1

Particulars of—

(i) expend itinre which has resulted directly or indirectly in the provision of any remuneration or benefit or amenity to a director or to any other

person having a substantial interest in the company, or to a relative of a director or such other person [Sec 40 (c) (i)];

(ii) expenditure debited 01 allowance claimed in arriving at the profit in respect to the assets of the company used by any directra or other person

or relative referred to in (i) above, wholly or partly tor his own purposes or benefit [Sec. 4o(cXii)]; and

O (Si) expenditure whicb has resulted directly or indirectly in the provision of any benefit, amenity or perquKiU:, whether convertible into money or nw,to an employee of the company teherestah expenditure exceeds one-fifth of the amount of the salary payable to him for the period of his employment [Section 4O(c) (iu)]

Amount of enter-

S.Na Name and address of—• (a) director or aay

Allowance (inclu- ding deamess al- lowance where it is not a part of the other parson or re- lative referred to in 10 and (ii) above;

Salary including dear ness allowance if the terms of em- ployment so pro- vide, but exclud- ing all other allow- ances aad per- quisitesj

salary under the terms of employ- ment) other than" the amount shown 10,001. 5 t (b) employee (other than an employee whose income char- geable under the j head "Salaries" is Ra. 7,500 or less)

Expenditure (other

z e Expendirare (other than capital expen- diture) incurred by the company in providing accom- modation free of T. nt or at con- cessional rent for his occupation (Give details)

Where a convey- ance has been pro- vided to him by the company, description of the conveyance and the amount of expenditure incurred by the company on its maintenance than capital expen- diture) incurred by the company in providing furniture, appliances nnH amenities for his personal use 11 benefit, bee ol charge or at a con- cessKmal charge (Give details)

tainment allowance and other payments in the nature of prjfp"rtainrn?nt al- lowance or amounts reimbursed by the company on ac- count of expenses on entertainnienUL to the extent it results in a benefit^ amenity or per- quisite

S 6

[

? r

l Expenditure in-

IT Travelling expenses met by the com- pjay on account of his tours abroad

S/No. CR=- peat from

Other paymentj not included ia cols. 3 to IO (Give details) [SecNote t(b)]

Mnployee referred s and in the case other person or 1 to in (a) also an employee

In the case of an < to in (b) of col. 1 ; of a director or relative referred of col. 2 who is of the company

In the case of a director or other person or relative referred to in (a) col. 2, the total of the amounts in cols.

curred by the company for domestic or per- sonal services provided to him (Give detail*)

3 to 13 (See Note 3)

Total of the am- ' ounts in columns 4 to 12

1 to the extent that they result in a benefit, amenity or perquisite, and tares and conces- sional passages on home Ieive (Give details) [See Nate

The sums by which the amount in col, 15 exceeds one-fifth of the amount in col. 3

Expenditure (other than capi- tal expenditure) incurred by the company on the provision of any other benefit or ame nity free of charge or at con cessional charge, not included in the preceding columns [See Note i(O ]

Amount of dep- reciation and i other allowances claimed by the company in the return in respect of any of its assets which are - wholly or partly , used by the di- rector or other person orrelativ< referred to in (a) of col. 2 for his own pri- vate purposes for the whole or part of the year (See Note 2

)

16 I

TOTAL [Car- ried to item 15 (b) of Sec. 1 of this Annexure]

TOTAL [Car- ried to item 15 (a)of Sec. 1 oft! Annexure]

Signature of the Principal Officer Data Seal of the Company.

NOTES : 1.—1° the case of any employee who is not a director or a person or relative referred to in (a) of col. 2,—

(a) the value of any travel concession or assistance referred to in section 10(5) and passage n m e ys or the value of any free or concessional passage

referred to in section io(6Xi) should be excluded form the amount in column 9;

(b) any payement by way of gratuity, any payment referred to in section io(5)Cvii) any sum referred to in section 17(1) (vii) or 17(2) (v), the amount of any com?:nsation referred to in section 17(3X0 and any piyment referred to in sec. 17(3) (ii) or sec. 35(i>(iv) or section 36(l)(v) should be excluded from the amount in col. 11;

2. The assets should be listed in section 3 of this Anrjexure, indicaringj in " ch case, the fact that it has be*n used by the director or other person or

relative.

3. In the case of a director or other pewon or relatrre referred to in Not* i, who is also an employee of th* company, tb* amounts at (a), (b) and (c)

of Not* 1 should be exhibited separately in the retpecttre ajtumis but exchtied ia arriving at the total in col. 14,

AKNETOES E

SKTKM i

Particulars of Capital Gtam

Name of assesses •

S.No. Description of asset

Date of transfer

Date on which the asset became the property of tho assessee

Assessment year 19 19

Name and addre* of the transferee

Full value of the consideration for which the trans- fer was made

Fair market value of the asset as on the date of transfer tSee. sec 2<22A.) ] t Whether the transferee is connectedj direc- tly or indirectly, With the assessee ted, if so, how

Period for which tbe asset was held by the assessee imme- diately preceding tbe date of transfer [Sec. 2 (42A31

1 Capital gain. / lou relating to (Low to be shown in

Total of cohuam

red ink) (See Note below)

10 to 13

Cost of any im-

prcvemsms to

the capital asset

Cost of acquisition or,

in ;ises earned by aec

49, socw5i,theTal"

which U deemed to b#

the cast of acquisition

in capital assets

, in col. s is more

Expenditure incurred

wholly and exclosi.

Tely in connection

with the transfer

(Give detail*)

S.No. (Re- peat from col. i above]

Other than "hort-tci

(f. t. where the period

than 12 months)

Snort-term capital

tsteu (f. *. where

the period in col 5,

is 12 months or lea)

i Amount in col. 13 of

Section a of this

Annexure)

Others

Lands or buildings

or any rights therein

Rs.

Net capital gains carried to Part I of the Return.

Rs.

s T>a"

Signature of the Principal Officer.

Sml of the Company

NOTE i When the capital gain in respect of any asset is claimed to be extrcpt under section 53, an entry should be made to that effect in the relevant

col. 14, IJ or 16.

r 1 'I other cases, the amount of capital gain/low thcnld tw dftennioad by deducting ths Knonnt in col. 13 from 4K amoust in Col, E and the

inlr anHMd in th" relevant col. 14,15 or 16.

SHCTKJN 2

SfafemenisAoewi^t&i cost of acquisition or the value tohich is deemed to btthecestof acquisition of a capital asset in certain caset (Sections 49, 50 and 51)

Name ofassessee

D;""Lp:Lo:i ofajset Dite on which the asset h i: i n; ths property of the asseswe

Assessment Year : 19 19

H X w Where the asset became the pro

or construction at

perty of the assessee by purchase own expense

M^de of acquisition {1. e, whe- ther by purchase, ccmtruction at own expense or by any of the modes specified in section 49) JH

3 Cast of acquisition of the asset to the assessee on the date mentioned in col. 3

Where the date mentioned in col. 3 is earlier than 1-1-1954, tbe fair market valne of the aa&et as on 1-1-1954

6 4

I !

•9

s tie property of ths M referred to in c

e asaesaee otherwise ^

ob. 5 and 6.

Winre tits i35at b ; n r ni tl than in tha miaftf

one in respect of on has been obtained c. 50)

Where the asset is

which depreciati'

(See so

Advance or other moneys received and retained by the assessee in

S.No- (Re- IKat) frMl

respect of the asset on any pre- vious occasion Sec ^ec,

Cost of acquisi- tion of che asset to such last pre- vious owner

Wrir'en -down value as "adjus- ted" uSeeXote belnw;

If the date in col. 71s earlier than 1-1-1954 the fair market, value of the asset as on I-I-I954-

H Date oa which the asset b : : i a; :a; i:Jpircy jf the list previous jwner who a:quired it othar- wise than in the njnner specifi"i in sec. 49.

Where the fair mar- ket value of the asset as on 1-1-1954,is to he laken into account the fair market value of the asset as on 1-1-1954 reduced by the amount of depre- ciation allowed after that date and "adjusted" (See Note below).

Cost of acquisition, or the value deemed to be the cost of ac- quisition carried to col. 10 of sec. 1 of this Annexure 1'Amount obtained by sub-tractirg the figure in col. 12 from the figure in co]. 5 or col. 6, whichever is higher col. g or col. 9 whichever is higher col. 10 or col. 11, whichever is higher as the case may be. w o

g I

Date

signature of the Prindpa] Officer

S"al of th* Company

Nira: "Alibied" >n rtlitop to writterMown v"la" 0? to mutm vilue, rMans iial by My t"miw{ allawaTwi dwJtwtod ntate we. 3*(iXtlS)

er increased by tenauul charf* aidd and"r MC !<">.

g98 THE GAZETTE OF INDIA EXTRAORDINARY [PART U-

ANNEXURE F

Dividends

[Set sections 56-59]

H IM of M t e " " ee •— • —•

- • •

- A s s e s s m e nt Y e a r: 1 9 — - 19

• •—

Face value

Not amount Remarks SL No.

Particulars of shares hold

of dividend [St* Note "]

Gross amoum

ol dividend

[Sea Note 1]

of the holding

[See Note zl

t Amount ol tax deducted at source

Rs.

TOTAL .

Grots amount ol dividend from column 4

D*duct (fl) Amount of commission 01 remuneration paid

to a banker or other poison for realising the dividend Rs.

(6) Amount olany other expenditure pother than capital expenditure) incurred wholly and ex- clusively lor earning the dividend . . Rs.

If et Amount of Dividend Income Carried to Part

I of tho Return

Date

£eal ol the Company

Signature ol the Principal Officer

NoTBt t 1. Any sum deemed to be a 'dividend' under section 2(22)(a), (b), (c), (d)j or (e) should also be shown in this column.

2. (a) Where any dividend is eligible for rebate or deduction of tax under section 85 (dividend from now industrial undertaking or hotel), 85B (dividend received by an Indian company from a foreign company on shares allotted in consideration lor supply of technical know-how etc.) or section 235 (dividend attributable to agricultural income of the company paying the dividend), please indicate by entering the appropriate section in the Remarks Column 7,

(6) In tho case of a foreign company which has not made the prescribed arrangement* for the declaration and payment of dividends within India, If any dividend •hown In tho above statement is paid by a closely-held Indian company which i* mainly engaged in any specified priority industry, such item(s) ol dividend may be indicated by entering "Section 85A, Proviso in tho Remarks Column 7.

(c) Where the company paying the dividend is a foreign company which has not made the prescribed arrangements for the declaration and payment of dividends in India, and the dividend does not qualify for deduction of tax under sec. 85B, please indicate such dividend by entering the words "Foreign dividend" in the Remarks Col. 7.

(4) For the purpose of claiming rebate or deduction of tax in Part III of the Return, the net amount of dividends falling in each of the categories mentioned in items 5, 6(a)j 6(6), 7 and 10 of that Part should be arrived at by deducting the appro- priate amount of collection charges and other expenses from the gross amount of dividend under each category. Where separate figures are not available, an apportionment should bo made.

EM. Xti)] THE GAZETTE OF INDIA EXTRAORDINARY 5 99

ANNEXURE 'G'

Computation of Total Income

Name of assoasee Assessment Year : 19 ——

Head of incomo

Resultant net incomt SI. No.

) after ad-

Income/loss of the year after 'adjust- ment' [Sea Note 2]

Brought for- ward loss of earlier year(s eligible for set off

[See Note 3]

Income/loss ( + ) / ( -) of the year as shown in Part I of the Return [StfeNote 1]

justing the loss in col. 3 against in- come In col.

Rs.

Rt.

1. Interest on securities ,

Income from house property

Profits and gains of business or pro -

fossion—• (a) Speculation business (enter only if the net result is a posi- tive income) [Sea Note i(a)]

(A) Business, other than specula-

tion business, or any prof essio [See Note i(b)]

Income from other sources

TOTAL

Capital gains:

(a) relating to short-term capital assets . . ..

(b) relating to assets other than

short-term capital assets (enter only if positive figure) (i) lands and buildings or any

rights therein

(ti) other assets

GRAND TOTAL [See Note 4]

Liu: Amount deductible under section 80E i.e. 8 % of profits and gains attributable to specified priority industries, included in the figure against item 3(b) in col. 6

(it) Other deductions, if any (Give details):

TOTAL INCOME (as rounded ofl under section 288A) CARRIED TO PART I OP THB

RETURN

Date

Signature of tba Principal Officer.

Seal of the Company

400 T HE GAZETTE OF INDIA EXTRAORDINARY [PAOT I I-

N O X B: I. (a) In arriving at the figure to bo shown In col. 3 against S. No. 3(3), the total of th" figures of income shown against S. No. 3(a) (i), 3(b) (i) and 3(c) (i) of Part I Of the Return should be taken; and it should be shown against S. No. 3(a) only if it is a positive income. If the figure against S. No. 3(c) (i) of Part I of the Return is " loss, it should be ignored in arriving at this total.

(i) In arriving at the figure to be shown in col. 3 against S. No. 3(b), the total of the figures of income shown against S. No. 3(a) (2), 3(b) (ii) and 3(c) (ii) of Part I of the Return should be taken. If the figure against S. No. 3(c) (ii) of Part I of the Return ia " loss, it should be ignored in arriving at this total.

(c) Where there is Indian income as well as foreign income under any head of income the aggregate thereof should bo shown in col. 3 against the appropriate head.

2. (a) If there is a loss in col. 3 against any one or more of S. NOB. I, 2 and 4, the louea and income against these items may first be adjusted against one another and tho net result determined. If the net result is a negative figure, and there ia income in col. 3 against S. No. 3(a) or 3(b), or both, the negative figure may be adjusted, as may be found advantageous by the assessce, against cither of the said itemt, or partly against the one and, as to the balance, against the other.

(6) Any loss against S. No. 5(3) in col. 3 should bo adjusted against income shown against S. No. 5(b) in the same column, and the result ant income entered agatnit S. No. 5(b) in col. 4.

3. (o) The amount of loss under the head "Profits and gains of business or profession" brought forward from earlier years should be entered in col. 5 against S. No. 3(") or 3(b), as the case may be, only to the extant of the income, if any, asainst the respective items in col. 4.

(6) The amount of loss under the head "Capital gains'' brought forward from eat - lier years should be entered in col. 5 against S. No. 5(a) or 5(b), as the caw may be, only to the extent of the income, it any, against the respective items in col. 4.

4. Where the figure in col.4 in the line showing the 'Total' of S. Nos. 1 to 4 is a loss, and the assessee does not desire to have such loss set off [against the Income shown against S. No. 5 in the said column, such loss should not be taken into account in arriving at the "Grand Total' in col. 4.

ANNEXURE 'H'

Statement of particulars to be furnished by a domestic company which claims to be one in which

tlie public are substantially interested.

[Sen Part VI]

14MDC of assessce

Assessment Year: 19 19- - .

x (a) Was the company owned throughout the previous year by the Government or the Reserve Bank of India? [Answer'Yes' or'No'] . . ..

(t) Was 40 % or more of the share capital of the company held during ihc previous year by the Government or Reserve Bank of India or a Corporation owned by the Reserve Bank of India, singly or taken together? [Antwer 'Yes'or'No']

2 If the replies to both (a) and (b) of S. No. 1 above arc 'No', please furnish in- formation regarding the following:— (a) The percentage of voting power attaching to equity shares allotted unconditionally to, or acquired unconditionally by, and throughout the previous year beneficially held by— (t) the Government,

(iii Corporation(s) established by a Central, State or Provincial Act, (ju) Company (ies) in which the public arc substantially interested and also wholly owned subsidiary (lea) of any such company, (jv) the public (excluding companies in which the public are not substan- tially interested and directors of the assessec company).

(•) Were the equity shares in the company—

(0 the subject of dealings in any recognised stock exchange in India at any time during the previous year ? If the reply is Yes', please state the name(8) of the stock exchange (s).

Freely transferable by the holder to other members of the public ? [Answer'Yes'or W]

_ ^ __

"M. *(I1)] THE GAZETTE OF INDIA EXTRAORDINARY 601

(e) Pcrsoas controlling the a,Tair3 of the Company at a ly time daring the preview* jo"r

Maine Address Period of control

[Answer 'Yes' or 'No']

©ate Seal of the Company

Signature of the Principal Offices.

•"Industrial company" means a company whose business consists mainly in the construction ofihiptorthc manufacture or procewing of goods or in mining or in the generation or distribution of electricity or any other form of power.

M a n: For the p u r p le of items (c) and (d) of S.No. 2, persons who are relatives of one another, and persons who aro nominees of any other pirson together with that other person, should be treated as a single person.

ANNEXURE T

Rttum of particulars to ba furnished xrilzr Stztian 133 oft/u In;o;n;~tax Act, 1961

[5M paragraph 3 of Notice under section 139(3)]

Nome of asBWsee

. Assessment Year: 19 -19 -—

SEOTTON I: Statement of tumes and ailresses of persons for whom the assessee is a trustee or tgew.

Name of person for whom the

State whether the "s*c"oe asiessee is trustee or agent

Address of the person in

col. 2

is trustee or ageat of the SL No.

person in col. 2

Date Steal of the Company

Signature of t be Principal Officer.

0Q3 THE GAZETTE OF INDIA EXTRAORDINARY [TJUW I I-

SBOTTONai Statement of the names and addresses of all persons to whom assessee had paid to the previous year(s) rent, interest, commission, royalty or brokerage orf any annuity (not being an annuity taxable under the head "Salaries") amounting to more than four hundred rupees and particulars of all such payments.

Date of payment

SL No.

Nature of payment

Name and address of the person to whom the payment was made

Amount paidi

In the" cane of • payment to a non- resident whether tax naa been deducted at source and paid to the credit of the Central Government ' M

6 i

Date

Signature of the

Seal of the Company

Principal Officer.

SUCTION 3 : [To be filled in where the asseasee is a dealer, broker or agent or concerned in the management of_a stock or commodity Exchange.

Statement of the names UncTaddresses of all persons to whom the assessee or the Exchange fcll paid in the previous year(s):—

(1) any sum or aggregate sums in excess of two thousand rupee* where the payment represents "differences" paid in settlement of contracts without actual delivery of stocks or commodities; and

(a) any sum or aggregate Bums in excess of ten thousand rupees where the payment re- presents sale price in connection with the transfer whether by way of sale, exchange or otherwise of assets or on whose behalf or from whom the assessee or the exchange has received any such sum and particulars of all such payments and receipts.

(The question whether any payments or receipts relate to "capital assets" it a matter to be bedded by the Income-tax Officer. The person required to make the statement should treat all payments and receipts as pertaining to capital assets).

Particulars of the transaction in connection with which the payment

No.!

Arrcvct peid or received

Dstc of payment or receipt

was made or receive^

Name and address of the person [ "o whom the payment was rnede or on whose behalf or from whom

the payment was received

Rs,

5 '

I. PAYMENTS

Sic. "(H)i THE GAZETTE OF INDIA EXTRAORDINARY 603

I ² 3

4 5

II. RECEIPTS

Date Sea] of the Company

Signature of the Principal Offl"tr

SECTION 4: Statement of gifts made by the assesses during the previous year(B) [Not to be filled in

by a company in whkh the public are substantially interested.]

Name and address of donee

Particulars of pro- •

petty gifted

Date of gift

Amount of money gifted or value of property (other than SI. No.

money gifted)

•

Date Seal of the Company

Signature of the Principal Officer

604 T HE GAZETTE OF INDIA EXTRAORDINARY [PAW H-,

I For persons other than FORM N O. %

companies]

[See rule ia(i)(b)]

G.I.R.No Return of Incomt

(To be filled in by the Income-tax Office)

Assessment year 19 19

[See Note 1]

Whether individual, H.U.F. etc.

Address: Office

••-•

IMPORTANT: All applicable entries

and annexures must be filled In.

If the space Is not sufficient, please

attach separate statements, serially

numbered, and specify, in Part VI,

the number of sheets in each state-

ment. INDIVIDUAL

Residence — — — — ^ — — ——— ———

Check \/ One

State whether resident/resident but not ordinarily re-

Married: Yes No

sident/non-resident [See Note 2] •

Number of dependent

children ———————

PART I—Statement of Total Income [See Note 3}

Head of income

Amount of income or loss

(If none, write 'NONE).

[Lois to be shown in red ink]

Indian income Foreign income

[See Note4] [See Notes]

Rs. Rs.

1, Salaries [Annexure A]

2. Interest on (a) Government securities:

securities (i) National Savings Certificates

[Annexure (First Issue) and Bank Series.

B] (ii) Other Government securities,

(b) Other securities.

3, Income from house property [Annexure C]

4. Profits and (a) Own business or profession

gains of [Annexure D]

business or (i) Speculation business (Sec. 28,

profession Expl.2)

(ii) Other business or profession,

(b) Share in the p rontB of a registered

firm [See Note 6]:

(i) Speculation business (Sec. 28,

Expl. 2)

(ii) Other business or profession.,

(c) Share in the profits of an unregistered

firm or association of persons or

body of individuals [See Note 6]

(i) Speculation business (Sec. 28,

(ii) Other business or profession.

5. Capital (a) relating to short-term capital assets

Gabs [An~ (b) relating to other assets:

nexureE] (i) lands or buildings or any rights

therein

(ii) Others

6. Income from (a) Dividends |Annexurc F]

other (b; Interest other than interest on

sources. securities,

(c) Annuity or commuted value of ann-

uity (Sec. 280D)

(d) Other items (Give details)

TOTAL (I to 6)

TOTAL INCOME (AS computed in Annexure G)

*H2. 8(11)] THE GAZETTE OF INDIA EXTRAORDINARY go6

NOTES:—

1. If there are different previous years for different sources of income, the source or sources

should be indicated against each previous year.

2. If a person is resident in India in a previous year relevant to the assessment year in respect of any source of income, he shall be deemed to be resident in India in the previous year relevant to the assessment year in respect of each of his other sources of income.

3. If the income of any other person is includible in your total income under the provisions o' sections So, 61,62,63 or 64 of the Income-tax Act, 1961, such income should also be shown in this Return under the appropriate heads,

4. 'Indian Income' means Income which accrued or arose or was received in India or Is deemed .

to have accrued or arisen or been received in India in the previous year.

5. "Foreign Income' means all income which accrued or arose outside India but 1B not deemed to have accrued or arisen and is not also received or deemed to have been received in India in the previous year. This column should not be filled in by a non-resident.

6. Share in the income of the firm under the head "Profits and gains of business or profession" should alone be shown in this item. Where the firm has income under any other head or heads of income, the share of the partner (assessee) in such income should bo Bhown against the appropriate items.

PART II—Statement of sums not included in Part I and which the assessee claims to be not

Taxable for any reason.

Particulars

Amount Rs.

Reasons for its being claimed as not taxable

3- 4. 5-

TOTAL OF PAST II

PART Ill—Statement of sums included in Total Income in respect of which Income- tax

is not payable or which qualify for Rebate or Deduction of Income-tax,

Amount Particulars

RB.

1. Interest on tax-free securities [Sec. 86A] v 2. Where the assessee is a partner in a registered firm, proportionate part

of the tax payable by the firm [Sec. 86(iv)]

3. Where the assessee is a partner in an unregistered firm or a member of an

association of persons or body of individuals and tax has been paid or Is payable by such firm, association or body, share in the income of such firm, association or body. [Section 86 Cm), (v)] . . ..

4 Income of co-operative society on which no income-tax is payable

[Sec. 81]

5. Where the assessee is a member of a co-operative society, dividends

received from the society. [Section 82]

6 Income of marketing authority on which no income-tax 1" payable

fSec. 83]

7, Profits from new industrial undertakings {Section 84] . .. 8, Dividends from new industrial undertakings or hotels [Sec. 85] . 9. Educational expenses of dependent child(rcn) [Section 87A]

(To be filled in only in the case of a resident non-Indian citizen) 10. Donations for charitable purposes and for renovation or repair of a

temple etc. [Sec 88]

11. Dividends attributable to agricultural income of the company paying the

dividend [Section 235]

12. Other items, if any (Give details)

TOTAL OP PART III

<5o6 T HE GAZETTE OF INDIA EXTRAORDINARY [PART I I-

PART IV—Statement of Tax deducted at source and of advance Tax paid.

Advance tax paid Tax deducted at source (Tax deduction certificate to be attached)

Particulars

Date of payment

Amount of tax Rs.

Amount Rs.

Salaries

Interest on securities .

Other interest

Dividends

Any other income

Total

PAKT V—(i) Statement of Particulars required under Section 139(6)

(a) Particulars of business or profession carried on by the assessee [Where the business or profession is carried on by a firm/association of persons/body of individuals ofwhich the assessee is a partner/member, these particulars should be furnished only in the Return of the firm/association/body and not in the personal Returns of the partners/members]

Address of the principal place of business or profession hi India - - - - -— - . .

Address(cs) of branch(es): •—• • - — , . . , . ,,

(b) To be completed in the case of firms, associations of persons and bodies of individuals

Name of each partner Extent of share in the Amount of interest on (including minor ad- Residential address profits of the firm Capital, salary com- mission and other re- mitted to the benefits munerationa if any. of the partnership/ (Give details) member __

IMPORTANT;If you are a firm seeking continuance of registration granted for an earlier assess- ment year, please attach the required declaration in Form No. 12, which may be obtained from the Income-tax Officer [Sec. 184(7)].

(c) To be completed where the asscssee is a partner In a firm or a minor admitted to the benefits of a partnership or a member of an association of persons or body of individuals.

Name and address of Name of each Relationship Address of the Extent of share the firm/association partner/minor/ with assessce* Partner/minor/ in tho flim/asso- of persons/body of member, inclu- member ciation/body. individuals ding the asscssee

•State hi this column whether the partner/minor admitted to the benefits of the partnership

is the husband/wife/minor/child of the assessee

lie. 8(ii)] THE GAZETTE OF INDIA EXTRAORDINARY 607

(2) Statement of Particulars to be Filled in by Hindu Undivided Families only

REMARKS S.No.

Age at the end

Relationship to

Karta

of the previous year

Namc of members of the family (inclu- ding the Karin) \ at the end of the pre- vious year, who were entitled to claim partition

(Karta)

I. 2. 3- 4-

PART VI—List of Annexures and Statements

[Please mark in the appropriate columns v/for annexures filled in, and

* for flnnexures not filled in. ]

Annexurc No. of sheets in Statement No.

AB C D E FG Ji 2 3 4 56

Verification

I (Name in Block letters) son/daughter/wife of Shri

solemnly declare that to the beat of my knowledge CName of father/ husband)

and belief the information given in this Return and the annexures and statements accompanying it ia correct and complete, that the amount of total income and other particulars shown are truely stilted and relate to all the previous years relevant to the assessment year commencing on the 1st day of April* 19

I further solemnly declare that no other income accrued or arose to or was received b me Vtie family/the firm/ the co-operative society/the association of persons/ the body of individuals/the local authority/' during the said previous years and that 'I/the family/the firm/the co-operative society/the association/the body of individuals/the local authority/" had, during the said previous years, no other source of income.

I further declare that in my capacity as*

of the family/firm/co-opcrative society/association of persons/body of individuals/local authority/³ Jl am competent to make this Return and verify it on behalf of the family/firm/co-operative society/ association of persona/body of individuals/local authority/'

I further declare that I am making this Return in my capacity as/'

of/¹

Date

• Signature

Place —

IMPORTANT: Before signing the verification the signatory should se''sfy himself " that the return is correct and complete in every respect.

[Any person making a false statement in the Return will be liable to prosecution under sec" tion 277 of the Income-tax Act, 1061 and on conviction will be punishable with, rigorous imprisonment which will not ordinarily be' for less than six months and may extend to two years]

608 THE GAZETTE OF INDIA EXTRAORDINARY [PART I I-

NOTES :I. The alternatives which are not required in the declaration should be scored out. 2. In the case of an assesses who is an individual, if the declaration is signed by a person other than the individual himself or in a case where the return is made by a legal representative, the word "me" or " I" should be scored out and the name of the assessee should bo written.

3. Here describe the status, if not covered by the terms mentioned above, vid$ sectio¹¹

2(3i)(vU).

"*C S(11)J THE GAZETTE OF INDIA EXTRAORDINARY fop

7- R?m iteration paid by the employer for domestic and personal services

providoi to thoassessee. (Give details)

• a. (a) Vain; of travel concession or assistance received from the employer by the assesseewhois a citizen of India, otherwise than for the purpose of the employment. [See Note 4(a)J

(6) PaSiage moneys and the value of frco or concessional Passages on

travelling abroad, provided by the employer to the assesiee who is not a citizen of India, otherwise than for the purpose of the employment. [See Note 4(b)]

g. Value of any othor benefit or amenity provided by the employer free of cost or at concessional rate, not included in the preceding columns, [see Note 3]

10. A*iy other amount chargeable under the head "Salaries" (Give details)

11. Total of items 2 to 10

11. Deductions admissible in computing income under the

Head "Salaries": (a) Amount spent on purchase of books etc. necessary for

duties uptoRn. 500 [Section i6(l)] Rs.

(6) Entertainment allowance in the cases and to the extent

specified in section i6(ii). Rs.

a State or Provincial Act [Section iS(iii)] Rs.

(0 Expenditure on maintenance

Make of the motor car or (during the'previous year') . Rs.

other conveyance W Amount representing wear Date of purchase and tear (during the'previous Actual cost Ra. \\..,'. years')) Rs. Total Rs.

("0 Amount out of the above total attributable to the use of the conveyance for the purposes of the employment RB.

[ Ai omployeo receiving a conveyance allowance from the

employer is not entitled to this deduction. ]

(") Any other amount which, by the conditions of his ser- vice the asseasec is required to spend wholly, necessarily and exclusively in the performance of his dutieB (Give details) (Section i6(v)J Rs.

13. Net income under the head "Salaries" taken to Part I of

the Return . . . . . ..

Date

Signature

Norfls : 1. Ths following amounts should be excluded from the amount to be shown against

thisitem where the conditions specified in the relevant Sections are satisfied:

(a) Death-ciwi-retirement gratuity or any other gratuity, up to the limit specified in

section 10(10).

(6) Commuted value of pension up to the limit specified in section IO(IOA). (c) Payment received from a provident fund to which the Provident Funds Act, 1925 applies.

[Section 10(11) ].

(d) Moneys received from a recognised provident fund in certain circumstances [Section

10(12)]

(e) Payment received from "n "pproved superannuation fund in certain cases. [Section

10(13)]

ff) Remuneration received by diplomatic personnel etc. of non-Indian citizenship. " [Section io(6)(ii)(iiO, Civ) and (v). Qg) Remuneration received by an individual of non-Indian citenzenship employed by a

foreign enterprise. [Section io(6)(vl).

gI0 THE GAZETTE OF INDIA EXTRAORDINARY [PA"T H-

(/;) Rernun"ration Jreccived by foreign technicians etc. of non-Indian citizenship.

[Soction io(6)(vii)]

(0 Tax paid by the employer on the salary of any such foreign technician [Section

io(6)(vli)]

(" Remuneration of a person of non-Indian citizenship for employment in a foreign

ship. [Section io(6)(viii)].

(A) Remuneration of a professor, teacher, or research worker of foreign citizenship, [Section

I0C6)Cix),&(K).]

(/) Remuneration received from a foreign sourc* for rendering services in India under any

co-operative technical assistance programme or project. [Section 10(8)]

2. The amount of House Rent Allowance received from an employer >o meet expenditure actually incurred in payment of ront for residential accommodation occupied by the assessec, up to the limits specified in Rule 2A of the Income-Tax Rules, 1962, should be excluded ard only the balanceif any,ofthe HouscRent Allowance shown against this item. [Section IO(I3A)].

3. >'.a) T h: .iiiuuu of travelling allowance, daily allowance, conveyance allowance or any J !i;r allowince which is spent wholly, necessarily and exclusively in the performance of dudes, shjuld be excluded from the amount to be shown against this item. [Section 10(14)].

(b) Allowance} received by a citizen of India from the Government for rendering services outside India should also be excluded from this item. [Section 10(7)].

4, (a) The value of any travel concession 01 assistance received from the employer, in no far as it is cxompL under section 10(5), should be exejuded from thc^amount to be shown against this item.

(b) The amount of passage moneys or value of any free or concessional passage received from the employer, insofar as it is exempt under section io(6)(i) should be excluiiej from tho amount to be shown against this item.

5. Where the assessec'3 income under the head "Salaries", exclusive of the value of all be- nefits and amenities not provided for in cash, does not exceed Rs. 18,000 and he is not a director of a Company or a person who has a substantial interest in the company, no amount shoujd be shown against this item.

ANNEXURE 'B'

Interest on Securities

(SIM section it—si)

Name of ssaesscc

Assessment Year : 19 19

Particulars of eecuritytheld.

Gross amoi est due duri

int ofinter- ng the year SI. No.

Face value of the holding On Govt. securities

On other securities

Amount of tax deducted at source

Rs.

TOTAL .

•

Use Sfll)] THB GAZETTE OF INDIA EXTRAORDINARY 6H

6 I

Rs.

R s.

Rs.

R s.

B/F

TOTAL

Deduct

(a) Amount of expenses incurred for realis-

ing the interest shown in columns 4 & 5 Rs.

(b) Amount of any interest payable on moneys borrowed for the purpose of investment in the securities shown in column 2 . . . .. Rs.

Net Amount of Interest on Securities

Carried to Part I of the Return

Date

Signature

NOTHS : 1. In the case of any security of the Central Government issued or declared to be income-tax free or any security of a State Government issued income-tax free, the income-tax whereon is payable by the State Government, enter the words "Taxfrcc"incol.6.

2. The exponses and interest at (a) and (b), respectively, should be shown separa- tely in respect of interest on Government securities and interest on other securities; where separate figures arc not available, an apportionment should be made.

ANNEXURE 'C

en "

Income from House Property

Assessment Year : 19 r-9, Name of Assessee

Annual

IF you are a

Serial No.

In case of property occu- pied by the

Sum admis- sible in res- pect of new- Address of too perty (indndinf Municipal or other number)

s part owner of the proper- ty state the extent of your

ly construc- ted buildings, vide second - Person in j whose nami the property stands in the Muni- cipal or otbe

records

Munici- pal valua- tion of the pro- perty (See Note 3)

w a

proviso to sec 23(1) (See Note 5)

Tenant's lia- bilities re- lating to tax- es levied by a local authority but borne by the owner and claimed as a deduction (See Note 4)

r share and the names of the other part owners and their shares

owner for his own residence (0 half of the amount in col. 6 or (it) Rs. I,8OOJ whichever is less

Net amount after deduc- ting amounts shown in cqls.8, 9 and 10 from the amount shown in coL 6 or coL 7, as the case may be, [Set Note 6)

H H "

Full apin^i rent payable by the tenant if the property is let, as in- creased by the amount, if any of the owners' burden for taxes levied by a local autho- rity borne by.¹ the tenant

State whether the property is wholly or part- ly occupied by the owner for his own resi- dence, or partly used for the purposes of his business or profession, and where partly soused statethe pro- portion of the remaining part to the whole of the property (See Notes 1

and 2)

NOTES: i.(a) Where the whole of the property is used for the purposes of the business or profession, the property should not be listed in this Anneiure.

(b) Where a part of the property is so osed, the proportion of the remaining part (to toe whole of the property may be determined on the basis

of the area used for the business or profession and the remaining area.

I 2. Where a portion of a property is oicupied by the owner for his own residence, such portion should be listed as a separate item and the portion

let out "s a separate item.

V! 3. Where a part of the property i" used for the purpose of the business or profession, the amount to be shown in col. 6 will be a proportion of the annual municipal valuation of the whole of the property "ccordiag to the proportion of the remaining part to the whole) shown in col. 5.

4. In the case of hoose property, the construction of which was completed on or after the 1st April) 1950, fee claim is to^be restricted to one half of the total amount of such taxes levied by the local authority.

f 5. In the case of a building (comprising one or more residential units) the erection of which is begun and completed sifter the m April, 1961, the annual value "hall for a period of three years from the date of completion of the building be reduced by a sum equal to the aggregate of (0 in respect of any residential unit whose annual value does not exceed Rs. 600, the amount of such annual value and (a) in respect of any residential unit whose annual value exceeds Rs. 600 an amount of Rs. 600; so however, that the income in respect of any residential unit is in no case a negative figure. Where a part of the property is used by the employees of the business for their residence) free of rent, this deduction will not be admissible in respect of the part so used.

O *s •—I a > w x H

VJJ

Allowance

Serial No. (Re-

Land Revenue paid for

Total af cols. Jto 19

. for

Unrealised rent. ( (Details i: to be

Ground rent paid for the property the

Net income/ loss (col. 11 minus

property

repairs. (SwNote

given separately)

coL 20) from page i)

Premium paid to insure the property against damage

Amount claimed on account of prop er- : ty remain- ing vacant. (Give

details)

Collection charges paid (not to exceed 6% of the amount shown in col. n)

or destruc- tion

Net amount after deducting amounts shown in cob. 8,9 and 10 from die amount shown in col. 6 or col. 7, as the case may be (RePeat from Page i).

H X w o

Amount of net income of assess- ee (where assessee is the sole be- neficial own- er, repeat the figure in coL 21; where assessee is part owner, state the frac- tion, as per

col. 4, of the figure in col. 21 Interest on mortgage or capital charge or any ann¹!^ charge on the proper- ty or in- terest on capital boT- rowed for acQuiringj constructing, repairing, renewing or reconstructing the property

Rs.

Aggregate Income/Loss carried to Part I of the Return

> o a

Date

Signature

NOTES—contd.

6. The higher of Che figures given in columns 6 & 7 should be taken as the basis for determining the income from property.

""4 7. The amount admissible on account of repairs is—(a) where the owner has undertaken to bear the cost of the repairs, a sum equal to one-sixth of the amount shown IH COL I I, and(&) where the tenant has undertaken to bear the cost of repairs, the excess of the amount shown in col. 11 over the amount shown in SEC. "(ii)] THE GAZETTE OF INDIA EXTRAORDINARY 615

ANNEXURE fD"

Particulars of Pro/its and Gains of Business or Profession

NamcofABsessee

Assessment year : 19 -19

SECTION I

(1) In the case of a firm, association of Persons or body of individuals, this Annexure is to be completed in the return of the firm, association or body and not in the personal Returns of the partners or memberB.

(2) If the accounts are kept on the mercantile system of accounting, a copy of the manu- facturing account or trading account, the profit and loss account and balance sheet must be attached. If the accounts are kept on any other system, description of the system should be given and a copy of any statement which corresponds to the profit and losa account and balance sheet in the mercantile accounting system must be attached.

If the accounts are audited, a statement of audited accounts should bo attached. But if the accounts are not audited, a statement showing how the profit/loss has been computed froms the books of account maintained for the business or profession should be attached.

Speculation business

Other business or profession

-19

1. Profit or loss as per profit and loss account (or statement corres- ponding to the profit and loss account) for the previous year ended . ..

Profit ( +) /Loss(—)

Rs.

Add (Deduct, if the above figure is a loss)—

2. Any taxable profit or gain not included in'arriving at the above

figure of profit. 3. Reservo for bad debts

4. Sums debited for creation of any reserve or for making any pro- vision etc. which are not deductible in computing the profits un- der sections 28 to 44. . . . . . ..

5. Interest credited to reserve or other funds

6. Expenditure of the nature of charity or presents :

(a) Donations qualifying for rebate under Sec. 88 . Rs. Rs. (ft) Others

7. Income-tax, penalty, etc.

8. Cost of additions to, or alterations, extensions or improvement!

to any of the assets of the business or profession

9. Other expenditure of the nature of capital expenditure

10. Losses sustained in former years and debited in arriving at the

figure of profit (or loss) shown above

11, Sums debited on account of depreciation of any of the assets of the business or profession, or development rebate in respect of any of the assets of the business. .

12. Sums debited on account of repairs and insurance of assets used only partly for the purposes of the business, or profession (Give details)

13. Sums debited on account of expenditure on scientific research or sums paid to any scientific research association, university, college or other institution. .

14. Interest or any other sum which is not deductible under the pro

visions of section 4o(a) (Give details)

15. In the case of a firm, the amount of interest, salary and re- muneration paid to partners not deductible under section 4o(b), (Give details)

<5l6 THE GAZETTE OF INDIA EXTRAORDINARY [PA*T I I-

Speculation

bo'lnest

Other busi- ness or pro-

Ri.

fession Rs.

16. Expenditure on advertisement, maintenance of residential accommodation, including accommodation in the nature of a guest house, and on travelling by employees and others for the purpose of the business or profession which exceeds the amount admissible under section 37(3) read with Rules 6A, 6B, 6C & 6D of the Income-tax Rules, 1962 [See Section 2 of this Annexure].

17. Any expenditure not incurred wholly and exclusively for the

purpose of the business or profession (Give details).

18. Any other expenditure which is not allowable under the pro-

visions of section s 28 to 44 (Give details).

19. Amount of profits chargeable under

(a) section 41(2) [Total of the amounts in col. 17 of Section 3

of this Anne_xure]

(ft) section 41(1) (3) and (4) (Give details)

20. Total of items 1 to 19

Deduct (Add if the above total is a negative figure)—

21. Any profit or gain, capital sums or other items, such as interest on securities, incomo from house property, etc., credited in arriving at the above figure of profit which are not taxable under the head "Profits and gains of business or profession" or which have already been charged to tax in the hands of the assessee (Give details)

22. Expenses on repairs and insurance of assets used only partly

for the purposes of the business or profession claimed as reasonable deduction under section 3 8(2) (Give details)

23. Allowance on account of depreciation [Aggregate of the amounts in columns 1J and 16 of Section 3 of this Annexure] and any unabsorbed depreciation brought forward from the earlier assessment years.

24. Scientific Research Expenditure :

(0 Any expenditure (not in the nature of capital expenditure) laid out or expended on scientific research related to the business (Give details)

(j'O Any sum paid to any approved scientific research association having as its object the undertaking of scientific research or to an approved university, college or other institution to be used for scientific research (Give details) •

(M'O Any sum paid to an approved university, college or othei institution to be used for research in social science or statis- tical research related to the class of business carried or (Give details)

(iv) The appropriate part of expenditure of a capital naturi on scientific research related to the business^ admisBibl under section 35(2). (Give details) . . ..

25. Amount of capital expenditure on the acquisition of paten

rights or copyrights admissible under section 3 5A. (Give details)

26. Any other allowable expenditure which has not been charged in

arrivingattheabovefigureorproflt/loss (Give details)

t 27. Any other sum (not being development rebate or developmeni s allowance), which is admissible as a deduction under section e 28 to 44, which has not been charged.in arriving at the abov f figure of profit/loss or which has been added bacfc under any 0 the items on page 1 of this section. . . ..

'EC. 5<11>] T HE GAZETTE OF INDIA EXTRAORPINARY 617

^Peculation business

Other busi- ness or Pro - feBeion

Rs.

28. Development rebate admissible [See Section 4 of this Annexure]

29. Development allowance admissible [Set Section 5 of this

Annexure]

30. Total of item* 21 to 29

31. NET PROFIT (OR LOSS) CARRIED TO PART I OF THE

RETURN [Item 20 minus item 30]

Date

Signature

SECTION 2

Name of aasessee

Assessment Year : 19 19 .

Statement of expenditure on advertisement, maintenance of residential accommodation including accommodation in the nature of a guest house_ and on travelling

by employees and others for the purpose of the business, or profession, which exceeds the amount aimissibie under section 57(3) read with Rules 6A, 6B,

6C and 6D of the Income-Tax Rules, 1962.

H a w

Amount debited in Amount admissible Amount of excess, if Profit and Lass under Rule 6B or any (i.e. col. 1 minus

Account. the amount claimed coL 2}

to be reasonable for purposes of Rule 6B

(z)

1 * 3

z o >

L Expenditure on Advertisement :

(a) Articles intended for presentation

(b) Advertisement outside India involving payment in foreign currency

D § assessee or to a relative of such person (Set Note 1) .

(a) Payment to a person who carries on business of, or profession as, a publicity or advertising agent, wherein the assessee or his relative has a substantial interest (See Note 2)

(i) Amount(s)exceedingRs,2j5oof-paldof/wm"*

on a bank or by crossed bank draft.

TOTAL ITEM of I

£7. Expenditure on Rsadtntial Accommodation inchtdmg Guest Houses t

ir a) Guest Houses

I Place at which located

Where aatwer in coL 4 or coL 5 Is "No¹ amoont of Serial No.

Whether register required

in Role 6C(3) has been

niftintftJn^

Amount of expenditure on

Tnaimroanctt debited in

Profit & Loss Account

Whether the expenditure in

col. 3 qualifies for allow-

ance tmder Rule 6C(i)

[Answer 'Yes' or *No\

(Answer "Yes' or

scpenditiire nn mfttfi^frmtncf

[Repeat from col. 3] J

if'yes* state bow]

$ i

TOTAL W ITEM II (

NOTBS: 1. Where the recipient of the pay ment is a company, firm, association of persons, or Hindu uadlvided family, it will be considered as having a

substantial interest in the basiaeas of the tssessee not only where the company j firm, as soda two or family, as such, has such an interest, bat also

where a director of the company* a partner of the firm or a member of the association or family, or any relative of such director, partner or member,

as the case may be, has a substantial interest in the business of toe as lessee.

I s. Where the assessee is a firm, association of persons or Hindu undivided family, it will be considered as having a substantial interest in the business of the recipient of the payment not only where the assessee firm, association or family, as such, has such an interest bat also where a partner of the firm or a member of the association or family, or any relative of such partner or member, as the case may be, has a substantial interest in the business of the recipient.

i i

(i) Other residential accommodation which results directly or indirectly in the proTisioa of any benefit, amenity or perquisite to an employee of the

assessee, whose income chargeable under the head "Salaries" exceeded Rs. 7,500:

Ok M O

Amount of expenditure on

Amount 0 f excess, if any.

Name of employee Salary including D.A. if the

20%of the amount of salary in coL 3

(i.e. col. 4 minus coL 5) Serial No.

terms of employment so Provide but excluding all

other allowances

maintenance of accommoda- tion debited in Profit & Loss Account (as reduced by the amount if any, recovered from the employee)

>-}

TOTAL OF ITEM II(B)

III. Expenditure in connection with TraoeUing by an Employee or any other Person:

(a) Travelling outside India:

? w

Amount of excess, if any Serial No.

Name of employee or other person

No. of days spent outside India

(col. 6 minus col. 7)

Amount of expen- diture debited in Profit & Loss Ac-

No. of days required for travel by a rea- sonably direct route

No, of days (out of No. in coL 3) mainly devoted for the pur-

Amount of expen- diture admissible under Rule

1 count

in the mode of trave

6D(i)

adopted

poses of business or profession of the

³.I

assessee

TOTAL OF ITEM III(a) 1

(b) Travelling inside India (outside Headquarters) :

Name of employee or

Amouat admiuibie under

other Salary including D.A., if the

person

Rule 6LX2XW

Amount of excess, if any {i.e. col. 4 minus coL 5) '?

Serial No.

terms of employment so provide, but ex chiding all

other allowances

Amount of expenditure (in- cluding hotel expenses or allowances paid) other than expenditure ia respect of travel by rail, road, water- way or air, debited in Profit and Loss Account,

6 3

! S

i—i

TOTAL OF ITHM III(A)

TOTAL CARRIED TO SECTION I OF THIS ANNEXURE/TOTAL OF I, II (a), II(b>, III(a) & 111(6)

Rs.

Date

Signatur*

OS w

SECTION 3

Stattment of particulars regittr"4 to befurmthed under Se&ion 34C1)

Name of Assessee

. ..

Assessment Year : 19 19..

Prescribed ratejpet Serial No.

cent

{See Note 4)

la the case of an asset which has been sold, dis-

Date from wtccii the - new asset or the additions and ex- tensions referred to

Written down value of the asset as at the beginning of the **pre vious year" [*Actual cost" in the case of ocean-going ship]

DiJc:ipiloi of Lbs asset building, ship, jnichL- nery or plant, furni- turej including any such asset which has beea sold, discarded, demolished or destro- yed during the "pre- vious year".

Amount on which \ depreciation is al- lowable (amount in coL 3 -{-amount in coL4>;in the case of an asset referred to in col. 6, the amount should be shown as'Nil-'.

( S" Note 1) ]

cftrftedj doTV>liflhcd or destroyed dur- ing the previous year, the amoant of "jnooejt pay- able" in respect thereof a&d tfaa scrap valae, if any (S" Now 3)

o m §

in col. 4, were used for the purposes of the business or profession, and date on which the al- terations and im- provements re- ferred to in col. 4 were effected.

"Actual cost" * in the case of assets ac- " quired during the previous year ; and in the case of exist- ing assets, capital expenditure in- curred during the 'previous year* & on additions, al- terations, improve- ments and exten- sions thereto ( 5M Note 2j>

1 r

rtdstion Qaimej

Dcp

No. of days for' wisi

Serial No.

Terminal allow- ance under sec which the tttet Forked

_ 32(1) (m)

Terminal charge under section 41 (2) [Col. 6 BMW cols. (3+4)]

Doable Shift} Triple Shift

Normal

r S Initial [See Note 5]

Extra Double shift shift

ADcwsrce Triple ihift

rCoL(3+4)wsw

Total (col. 11-14)

[5" Note 6]

17 9

TOTALS CASHED TO SECTION I OF TKES AKHBZDIB

Date

Signature

KOTC: 1. There an asset has been sold, discarded, demolished or destroyed durmg the'previous year', it shoHld be listed as a separate item in co]. 2.

the 'actual coat* to be shown in col. 4 is RE. 25,000.

2. In the case of a motor car acquired for the purpose of thebossness or professes after (it 28th Febrnarj31966 for an amount irieacess cf Rs. 25,00c 3. "Moneys payable" in col. 6 includes the "ak price crca^iDsnr"ce>salrageorcoinpensatioEinoriejrs;w1ieretb£ aaetwhich is sold, discarded;

demolished or destroyed is a motor car acquired after 28-2-66, the 'actual cost'ifhereof is limited to Rs. 25,000, the 'moceyB payable' tofct- shown in col. 6 will be computed by multiplying the actual amotuit of sale price, inturarce, salvage or compecsatior moneyeaE<3 the amount scrap value, if any, by the fraction :—

25,000

i I

the actual cost of the motor car to the assessee

as computed without limiting it to Rs. 25,cco.

4. 'Where the actual cost of any machinery or plant dees rot exceed Rs. 750, the rate cfdepredation in respect of such machinery or plant to be shown

in col. 8 will be 100 per cent. (This provision applies for the assess men t jesr 1966-67 ard lateT assess inert years.)

5. Initial depreciation u admissible in respect ofooly the bmldirgs of the typerefenedToin secticr32(i)(H)). 6. The amountto be catered in this column should be limited to the amount of depretiaticr actualh alleged tothe assesseein respect of the asset

for all past yean.

Date

Signature}

SECTION 4

DeveUpment Rebate

Statementofparticulars required to be furnished for the purpose of sections 33 am/34 andof the amount of development Rebate

Name of Assessee

Assessment year : 19 19

Remarks Actual cost of ths asset in col. 2

Serial No.

Date of acquisi- tion of ship or date of install-

Rate of develop- ment rebate per cent.

Amount of de- velopment re- bate

D;3cription of asset—i.e. ship, machinery "r plant

ation of machi- nery or plant

w o N

Amount of de- velopment rebate reserve created by debit to the Profit and Loss Account of the previous year [Sec. 34 (3) (a) }j

In the case of a •second-hand ship the number of years which had expired between the date on which the ship was built and the date of its acquisition by the assessee

m o

Itza

TOTAL CARRIED TO SECTION I OF THIS ANNBXURE

Date

Signature

j ~

SECTION 5 Development Allowance

Statement of particulars prescribed for purposes of section liA and of the amount of Development Allowance

[To be filled in only by a person carrying on a b u s i me of growing and manufacturing tea in India]

Assessment Year : 19 - 1 9 . ..

Name of Assessee.

Particulars relating to planting of tea bushes, after 31-3-1965 on land not planted at anytime or

which had been abandoned previously.

Name of tea

estate

Serial No.

Development Allowance

"Cost of planting" [See Note

(50% of the amount in col. 8)

Extent of land refer- red to in col. 4 (in hectares)

"Previous year" in which the land was prepared

"Actual cost of planting⁵¹ (Col. 6 minus coL 7) limited to an amount r calculated at

.o Whether situated in an area dec- lared by the Board to be a "hilly area" if sOj specify the area

•o

Amount, if any of the cost in col. 6, which has h~en met direcily or indirectly by any other per- son or autho- rity

Amount allow- able as a de- duction in respect of the second previous year from the previous year referred to in coL 4 [See Note 3]

Rs. 12,500/Rs. io5ooo per hectare of the extent of land in coL 5

Amount allow- able as a de- duction in res- pect of the 4th previous year from the pre- vious year re- ferred to in coL 4 [coL 9 mnus coL 10] [See Note 3]

[See Note 2]

⁵

Particola rerelatingto planting ofteabnsheSjafter3i-3-i9<>5 and before 31-3-1970^ replacement of tea bushes

t Serial No.

titat hare died or have become permanently useless on any land already planted

Amount of

development

allowance

Total sinount

of develop-

ment allow-

1 ance claimed

reserve created

Amount allow-

"Cost of

planting"

[See Note I]

[See. ³³AC³)fe>]

Development

Allowance

(30% of the

) amount in

"Previous

year-

in which the

land wn

prtpuied

Extent of

laad re-

ferred to in

coLia (in

hecatres)

col. 16)

(caL 9 pka

col 17 or coL

11 pka coL

19, as the cast

may be)

w Amount if any, of the costincoL 14 which has been met directly or indirectly by any other person or authority

able as a de-

duction in res-

pect of the

second year

from the pre-

vious year

referred to

in col. 12

[S"Note3]

. Amount aDow-]

able as a de-

duction in res*

pect of the

4th previous

year from the

previous year

referred to In

coL 12 (col.

17 mass

coLi8)

[Set Note 3]

"Actual cost

of planting"

(C0L14

mmuicol 15

: limited to

an amount

calculated

atRs.

12,500/ Rs.

10^000 per

hectare of

the extent

of land in

coL 13

See Note 2]

21 i

20 12

TOTAL CAJUOBD TO SECTION I OP THIS AHKSXDBE

Date _

Signature

NOTES 1 1. The "Cost of planting" to be shown in columns 6 and 14 is the aggregate of the following amounts, namely :—

~~ (a) cost of preparing the land ;(&) cost of seeds, cuttings and nurseries ; (e) coet of planting and replanting ; and' (d) c o t t of up-keepofthetea

bushes doting the four successive'previota y e a n' commencing with the "Previous year" shown in C0L4 orcoL 12, as the case may be,

2. T he cilcnlatton s h o ck be made at the rate of Rs. 12,500 per hectare of the extent of land shown, in coL 5 or col. 13, as the c ue m a y be where the

land u situated in a "hilly area", and at the rate of Rs. KyDOO per hectare of the extent of land shown in coL 5 or coL 13, where the land is situated

in any other area.

f 3, Where the c h im for deydoptttent allowance reiatet to the second previous year from the preriens year shown in coL 4 ot'coL 12, as the case may be, no entry should be made in columns 10 and 11 or 18 and I9j where the daim relates to the 4th previous year from the previous year shown in c d. 4 o r c o L i 2, entries should be made in these cctamns as weH and for the sake of convenience, the entries relating to such claim should be listed under a separate serial number from the entries relating to the daim in respect of the second previous year.

ANNEXURE *E'

SECTION I

Portiatlars of Capital Gamt

Name of Assessee-

Assessment Year: 19— 19 -

Description of asset

Name and address of

Period for wbtch the

SL No.

the transferee

Date of

transfer

Whether the transferee

is connected, directly

orindirectfyj with

Date on which the

asset became the

property of the

Full value of the

consideration for

which the transfer was

made

ttlC SSSCflM*^ flTKij ^f

assessee

asset was held by the

n""i."" imrrwHiot^y

preceding the dote of

so, how cosnected

its transfer

[S"Sec.2(42A)]

Ov M OCE>

R^pcndiTTrre incurred

Cost of any improve-

Total of cola. 10 to

ments to the capital

Capital gain/loss n > [Loss to be shown in

otes 1 &2]

•laring to— redink][5"N

wholly and exclusive-

ly in connection with

asset

Fair market value of the asset as on the •date of transfer [See Sec.2<22A)]

the transfer (Give details)

Cost of acquisition, or in cases covered by sec 49,50 or 5i,the value which is deemed to be the cost of

short-tenr ets (Le.

SL No. (Re- peat from above" )

Short-term capital assets (Le. where the period in cols. 5 is 12

months or less)

period in acre than

Other than capital ass where the coL 5 is 1 12 months) [Amount in coL 13 of section 2 of this Annexure]

>-5 SET

Others

Lands or buildings or any rights therein

16 10

15 I

-Sa

O-

NET CAPITAL GAINS CAKMED TO PAKT I OF THE RETURN

Date

Signature

NOTES: I. (a) Where the whole of the capital gain in respect of a building or land appurtenant thereto is claimed to be exempt under section 53 or section

54, an entry should be made to that effect in the relevant coL 14,15 or 16.

f (b) Whereonly a portion of the capital gain in respect of a building or land appurtenant theretois chimed tc be exempt under section 54, the portion which is not so exempt shoold be shown in the retermtcoL 14,15 or £16 and a note made to the effect that the difference is rWnyu^i to be exempt under sec 54.

2, In all other cases, the amount of capital gain/loss should be determined by deducting the amount in cd 13 from the amount in coL8and the

result entered in the relevant coL 14, 15 or 16.

SECTION 2

Statement sftomng the cost ofacquisitum or the vtiut which is deemed to be the lost of acquisition of a capitml asset in certain cases [Sectiojs 49,50 & 51]

Name of assessce

Description of asset

Assessment Year: 19— 19

Mode of acquisition (Le. whether by purchase, con-

Date on which the asset be- came the property of the SL No.

assessee WheTe the asset became purchase or constr

the property of the assessee by uction at own expense

struction at own expense, • inheritance, succession, gift, family partition etc.)

X w a

[See section 49]

3 Cost of acquisition of the asset to the assessee on the date mentioned in coL 3

M w

•Where the date mentioned in col. 3 is earlier than 1-1-1954, the fair market Tahie of the asset as on 1-1-1954

Rs.

Ri.

I I >• s

There the asset became the property of tfceassessee Where the asset is one in respect of •winch

otherwBe than in the nwnnfr referred to in cols, 5 & 6 depredation hae been ofetaiced (See sec-

No.

Advance or other

moneys received and

retained by the asees-

Re-

tion 50)

- see in respect of the

asset en any previous

Date on which the

occasion

from

above)

\Set Secticn 51]

Where the fair market

value of the asset as on

1-I-1954 is to be taker intoj

HCTPPP't'. t he fir^* pisrinff

•Written down

value as "ad-

justed"

t [See Note be-

Cost of acqui-

sition of the

asset to sudi

last previous

owner

low]

1 asset became the pro-

perty of tfce last pre-

vious owuei who ac-

quired it o&erwse

than in the manner

specified in Sec 49

Ifthedatein

coL 7 is earlier

than 1-1-1954,

the fair madsi

value of the

asset as on

1-1-1951

Cost of acquisition, or the

value deemed to be the

cost of &ct|ulsitjon TMIrtffi

to coL 10 of Section 1 of

thin Annexure [Amotmt

obtained by snbtisctzng

the figure in col. 12 from

the figure in coL 5 or coL 6,

whkfaever is higher, col 8

orcoL 9. whichever is

higher, coL 10 or coLn

whicbeveris h^icr, as the

case maybe]

value of the asset as on

1-1-1954 reduced by the

amount of depreciation

allowed after that date

and as '""d}usted" [See

Note below]

Date

Siflimnitp;

NOTB : 'Adjosted', in relation to writteD-down vsloe or fair mccket Tihie, means reduced by any terrain a] aDoverce deducted under section 32 (iViii) or

increased by tenBind charge added n&dei sectkn 41^:).

too. Bffl] THE GAZETTE OF INDIA EXTRAORDINARY 631

ANNBXUKtt ' F'

Dividends

N m; of AIWJJOO [$tt sections 5*—59] Assessment year : 19—19—

SI. Pj-:[cjlir" of shire) held

Remarks [Stt Note Face value of the holding

Amount of tax deduct- ed at source

Gro"s am- ount of dividend [SM Note IJ

Net amount of dividend [ 5M Note *]

Rs.

R i.

R".

gn TOTAL

Gross amount of dividend from column (4) • • • w Deduct (a) Amount of commission or remuneration paid to a ' ! banker or other person for realising the dividend . 1 (ft) Amount of any other expenditure (other than capital I expenditure) incurred wholly and exclusively for earning _ thedividend

K i-

Net amount of dividend Income carried to Part I of the return .

Date

Signature

NOTBS ; j. Any sum deemed to be a 'dividend* under section 2(22)(a), (b)j (c), (d), or (e) should also be shown in this column.

3. (a) Where any dividend is eligible for rebate or deduction of tax urder section 82 (dividend from a co-operative society), section 8^ (dividend ficm r tw industrial undertaking or hotel), or section 235 (d>viderd attributable to agricultural income of the company paying the dividend), please indicate by entering the appropriate section in the Remarks column 7,

(*) Fjr th; parpj-w of chiming rebate or deduction of tax in Part III of the Return, the not amount of dividends falling in each of the categories men- tio.isd in itonu 5, 8 or 11 of that Part should bo arrived at by deducting the appropriate amount of collection charges and other expenses from the gross amount of dividend under each category. Where separate figures are not available, an apportionment should be given.

6 31 THE GAZETTE OF INDIA EXTRAOMTNATOT IT**¹ **-

Name of Assessee Assessment Year: 19 19—

Head of income

SI. No.

Income/loss of the year after 'ad- justment' [See Note 2]

Income(+)/ Loss (—) of the year as shown in Part I of the

Brought for- ward/loss of earlier ycar(s) eligible for set off [See Note 3]

Return

Resultant net income after adjust- ing the loss in col. 5 against income in

[See Note 1]

col. 4

6 ¹

R i.

Rs.

R". X X X

Salaries Interest on securities . Income from house property Profits and gains of business or

1. 2. 3- 4-

profession— (a) Speculation business (enter only if the net result is a posi- tive income [See Note i(a)] (ft) Business, other than specula- tion business, or any professio: [See Note i(b)] Income from other sources

TOTAL

Capital Gains:

(a) relating to short-term capital

assets

(&) relating to assets other than short-term capital assets (ente: r only If positive figure) (t) lands and buildings or any

rights therein

(ft) other assets

GRAND TOTAL [See Note 4]

Less:

(1) A m o u nt to be d e d u c t ed in respect of life i n s u r a n ce premiums;,

c o n t r i b u t i on to P r o v i d e nd F u nd e t c. ( S e c. 80A)—vide Section 2 of this A n n e x u re . . . . .. R s.

(2) A m o u nt to be d e d u c t ed in respect of medical t r e a t m e nt e t c .,

of h a n d i c a p p ed d e p e n d e n ts (Section 80B)—vide Section 3 of of this A n n e x u re . . . . . .. R s.

(3) A m o u nt to be d e d u c t ed in r e s p e ct of p a y m e nt for securing

r e t i r e m e nt a n n u i t i es (Section 8 0 C) vide Section 4 of this A n n e x u re . . . . . . . .. R E.

(4) A m o u nt of A n n u i ty D e p o s it to be d e d u c t ed u n d er section 2 8 0 -O vide Section 5 of this A n n e x u rc . . . .. R s.

(5) O t h er d e d u c t i o n s, if a ny ( G i ve details) . . ..

T O T AL I N C O ME (As R O U N D ED O FF U N D ER S E C T I ON 2 88 A) CARRIED TO

P A RT I OF T HE RETURN .

Date

Signature

Sac. 8 (il)] THE GAZETTE OF INDIA EXTRAORDINARY 633

NOTES : 1. (a) In arriving at the figure to be shown in column 3 against S.No. 4(a), the total of the figures orincome shown against S.No. 4(a),(i), 4(b)(i) and 4(c)(i) of Part I of the Return should be taken; and it should be shown against S.No. 4(a) only if it is a positive income. If the figure against S.No. 4(c)(i) of Fart I of the Return is a loss, it should be ignored in arriving at this total.

(b) In arriving at the figure to be shown in col. 3 against S. No. 4(b), the total of the figures of income shown against S.No. 4(a)(ii), 4(b)(ii) and 4(c)(ji) in Part I of the Return should be taken. If the figure against S.No. 4(c)(ii) in Part I of the Return is a loss, it should be ignored in arriving at this total.

(c) Where there is Indian income as well as foreign income under any head o f income, the aggregate thereof should be shown in col. 3 against the appropriate head.

2. (a) If there is a loss in col. 3 against any one or more of S. Nos. 2, 3 and 5, the losses and income against these items and income against S.No. 1, may first be ad- justed against one another and the net result determined. If the net result is a negative figure, and there is income in col. 3 against S. No. 4(a) or 4(b), or both, the negative¹ figure may be adjusted, as may be round advantageous by the assessec, against either of the said items, or partly against the one and5 as to the balance against the other.

(6) Any loss against S. No. 6(a) in col. 3 should be adjusted against income shown against S.No.6(b) in the same column, and the resultant income entered against S. No. 6 (b) in col. 4.

3. (a) The amount of loss under the head "Profits and gains of business or profession' brought forward from earlier years should be entered in col. 5 against S. No. 4(a) or 4 (b) as the case may be, only to the extent of the income, if any, against the respective items in col. 4.

(b) The amount of loss under the head "Capital gains" brought forward from earlier years should be entered in col. 5 against S.No. 6(a) or 6(b) as the case may be only to the extent of the income, if any, against Che respective items in col. 4.

4. Where the figure in col. 4 in the line showing the 'Total' of S.Nos. 1 to 5 is a loss, and the assessee does not desire to have such loss set off against the income shown against S. No. 6 in the said column, such loss should not be taken into account in arriving at the 'Grand Total' in col. 4.

SECTION 2

Statement of sums paid Umards life insurance premuou etc. and of the amount to be deducted in computing the total income (Sertwi SoA)

[To be filled in onlywherethesssesseeisanindividoalor Hindu undivided family]

Paymsntson li

attracts for deferred :

Sum deducted 1

jcies and cc nuity

fe insnranoe po] an

from salary

payable te an

Name of life

insured

Capital sum pay- able at , death/

Amount of premi- um paid (Limited to 1/10th of the amount y incoL4

maturity (only in the case of a policr on life) in the case of policy on life) Contribntio videntftmc Provident:

ns to " ctjon Fum Ender the

kpositedby assessee in or 15-year ns to any pio- I 1 to which the Funds Act,

Contritutic: Superanniu approved t

Amount < i indm&tal a 10-Year

w AM

1 under the bi- as Act

recognisec come-t

Deposit the Post C

Account in HEce

Amotnn deposited Nsmeof t Provident

Number of the

Fund

Name of the Super- annuation

; Account

Fund

Amount of asses Eee'i contribu- tion

or on behalf of Govt.for securing defer- red annuity or makings pro- vision for his Wife or child- ren (limited to i/5thoftbe salary exclud- ing all allowan-

ces) If the name in col. 1 is not that of the assesses, state the relation- ship of life in- sured to the assesee [i.e. Wife/husband Where asses see is an indivi- dual, or male member of fa- mily or his wife, where assesses is an

H.U.F.]

No. of the policy and nature of policy (i^, life, en- dowment, pure en- dowment, deferred annuity on life etc,) [Where the insu- rer is not LIC, state name of the insurer]

o Amount of ES- KS see's contri- bution (In the case of contri- bution to'a Pro videntFund recognised un- der the I. T. Act, the amount should be li- mited to i/5th of the salary, excluding all al- lowances, or Rs. 8,000 whichevefis less)

TOTALS

s I

Ra.

in (1) above, limited to 25% of the Grand TotalincoLfi of Section 1 of this Annexnreor Rs. 12,500* in the case of Individual or Rs. 255000 in the case of H.U.F., whichever is less. Us (3) Amount to be deducted in computing total income : 60% of the first Rs. 5,000 of the qualifying

amount in (2) above . .. * Rs 50% of the balance . . . . . Rs

TOTAL CARRIED TO SECTION I OF THIS ANNESURI RS.

Date

Signature

*A higher limit obtains in the case of an individual, being an author, playwright, artist, musician or actor3 who has during the previous year paid any premium on life insurance policies effected bifore i-j-1964—vide Role 1 IA of the Income-tax Rules, 1962.

636 T HE GAZETTE OF INDIA EXTRAORDINARY [PART U-

SECTION 3 Statement of expenditure incurred in respect of medical treatment etc. of handicapped

dependants, and of the amount to be deducted in computing total income (.Section 8oB).

[To be filled in only where the assessee is an individual or a Hindu undivided family and is resident in India]

i. Name of handicapped dependant (where he is dependant only

on the assessee for his support and maintenance)

2, State how related to the individual ansessce, and, where the asse- ssee is a H.U.F., state whether the handicapped dependant is a member of the family. . . . . . .. 3. Nature of the physical or mental disability [Certificate from (name), who is a registered medical

Dr ,i'actitioner attached.]

4. Whether admitted in a hospital, nursing home, medical institu- tion or any other institution notified by the Central Govt., for a period of 1X2 days or more during the 'previous year' and fees and charges were paid by ihe assessee for his medical treatment to such hospital. [Answer 'Yes' or 'No'] If the answer is 'Yes', state the name of hospital, nursing home, etc.

5. Where the handicapped dependant had any income (chargeable to tax or otherwise) during the'previous year?,the amount of such income.

Rs.

6. Amount admissible as a deduction in computing the total income Rs. 2,400 if the answer against item 4 is 'Yes', or Rs. 600 if the answer against item 4 is 'No' , us reduced, in either case, by the amount, if any, against item 5, carried 10 Section 1 of this Annexurc.

Rs.

Date

Signature

SECTION 4 Statement of payment made for securing retirement annuity and of the amount admissible as

deduction in computing total income (Section 80C).

1T0 be filled in only where the assessee i" an Indian citizen resident in India, and is a partner in a registered firm of chartered accountants, solicitors, lawyers or architects or an- other profession notified by ihe Central Govt, in this behalf.

1. Number of annuity contract issued by the I.ife Insurance Corpo-

rivion/Namc of fund to which payment is made.

2. No, and date of the order of (he Commissioner of Income-tax aider which the annuity contract/Fund has been approved.

3. Amount of premium or other payment made Rs, „ 4.(3) Does the amount of the 'Tolal' in col. fi in Section A of this

Vuiexure include unearned income of more than Rs. 10,000 ? [Answer 'Yen.' or 'No']

(b) Isthc messee e'ir.itkd to any pension or is he participating in 'iiv pension or superannuation Scheme? [Answer 'Yes' or 'No'] [Tf the answer to either (a) or (b) is 'Yes' no deduction is admis- sible under section 80C and the following items should not be filled in.]

If the answers in both (a) and (b) are 'No', please fill in the

following items.

5. Amount of income under the head 'Profits and Gains of Business

or Profession' [Aggregate of the amounts in col. 6 against S.Nos. 4(a)and4(b)in Section TofthisAnnexure]. Rs. . _ _ _ __ 6. l/ioth of the amount of 'Grand Total' in col. 6 in Section 1 of

this Annexure

Rs. _ _ __ 7. Amount admissible as a deduction in computing total income, carried to Section 1 of this Annexure [Amount in itern 3 or item 5 or itom 6 or Rs. 5,000, whichever is thg Itaiitj, Rs. — — _ _ * _ " __

Sr.o. S(H)J THE GAZETTE OF INDIA EXTRAORDINARY 637

I certify that—

Ti) I hive not claimed wy deduction under section 80A of the Income-tax Act, 1961 with reference to the amount of the premium shown in item 3 hereinabo\e

(ii) I hive/have not assigned or created a charge upon any annuity or othc* sum receiv- able by me under the contract/Fund mentioned in item 1 hereinabove, for any con- sideration received by me.

Date

Signature

SECTION 5 Statement of annuity fdeposits made by the assessee and of the amount admissible as a

deduction in computing the total income (Sec. 38o-O)-

[Not to be filled in by a non-Indian citizen, registered firm, co-operative society, local uthority or any person who is not resident in India].

Distinguishing number of Date of Amount Annuity Deposit Certifi- Deposit deposit|

cate(s)

[Counter-foil(s) attached]

Amount of annuity deposil calculated at the prescribed rates with reference to the 'adjusted total income' [See Note]. Rs.

1 2 3

Rs.

Amount to be deducted in

computing the total income carried to Section 1 of this Annoxure : [i.e. the total amount of the deposit in col. 3 or the amount calculated at the prescribed rates as stated above, whichever is less]. Rs. —

TOTAL

Date Signature

NOTB : The 'adjusted total income' should be arrived at by taking the total income shown in Section 1 of this Annoxure before deducting the annuity deposit under Section 28o~0, and then reducing it by the following amounts, if any, included therein ;

(a) If you are an employee participating in a recognised Provident Fund, the amount transferred to the credit of your account in such fund on the date it was granted recognition.

fo) Any salary received in arrears or in advance or for a period exceeding 12 months; any compensation received by you from your employer on the termination of your employment or the modification of the terms and conditions thereof; if you arc an employee participating in an unrecognised provident fund or unapproved super-anmiation fund, any payment received by you from the fund in excess of your own contributions thereto and interest on such contributions.

(c) If you are a partner in an unregistered firm or member of an association of persons or boiy of individuals, which is itself liable to make an annuity deposit for this assessment year, the amount of your share in the profits and gains of such firm, association or body,

(d) Any compensation or other payment at or in connection with the terminaiion or modification of the terms and conditions of a managing agency, selling agency, eic. [Section 28(ii)].

(£) Amount of annuity Or commuted value of annuity [Section 280D].

638 Ttifc GAitTtt Of iNbtA fcX-ffcAOfcDlNAftY [J*A"T 11-

ANNEXURE

Etturn of particulars to be furnished under section 133 of the Income-tax Act, 1961

[S"e paragraph 3 of Notice under sec. 139 (2)]

Name of assesses Assessment Year : 19-19—

SECTION I

Statement of names and addresses of persons for whom the assessee

AddrcoB of the person

in col. 2

State whether the assessee is tiustoe,Vguardian or agent of Serial No.

Name of person for whom the assessee is trustee, guardian 01 agent

the person in col. 3

4 M

Date

Signature

SECTION 2

Statement of the names¹ and addresses of all persons to whom assessee had paid in the previous year (a) rent, interest, commission, royalty or brokerage or any annuity (not being an annuity taxable under the Head "Salaries") amounting to more than four hundred rupees and particulars of all such payments.

Date of payment

Amount paid

SI. No.

Name and address of the person to whom the payment waa made

Nature of payment

In the case of a payment to a non-resident, whether tax has been deducted fat source and paid to the credit of the Central

Government

6 2

SECTION 3

Statement of the names and addresios of all person* to whom the m " m" or the

Exchange has paid in the previous year (s).—

(1) any sum or aggregate sums in excess ol two thousand rupees where the paymint represents " differences" paid in settlement of contract! without actual d"Uvtry of stocks or commodities; and

(3) any sum or aggregate sums in excess of ten thousand rupees where the payment represents sale pnee in connection with the transfer whether by way of sale, exchange or otherwise of assets or on whose behalf or from whom the assessee or the exchange hat received any men turn and particulars of all tuch payments and receipts.

S"c. S(il)J "THE GAZETTE OF INDIA EXTRAORDINARY 639

(The question whether any payments or receipts relate to "capital assets" is a matter to bo decided by the Income-tax Officer. The person required to make the statement should treat all payments and receipts as pertaining to capital assets).

SI. No.

trans- Amount with paid or was received

Date of payment or receipt

Particulars of the action in connection which the payment made or received

Name and address of the per- son to whom the payment was made or on whose behalf or from whom the payment was received

I. PAYMENTS

II. RECEIPTS

Date

Signature

SUCTION 4

Statement of gift made by the assessee during the previous year(s)

Name and address of donee Date of gift

Particulars of property gifted

Serial

No.

Amount of money gifted f?or valuer of property (other than money) gifted

TOTAL

Date

Signature

640 THE GAZETTE Of INDIA EXTRAORDINARY [PA*T I I-

[For assessees having total income FORM N O. 3 uPto Rs. 15,000 other than Com- [Son proviso to rule I2(l)(A)] panies, Co-operative Societies and local authorities] Return of Income G.I.R. No (To bo filled in by

Income-tax Office) Assessment year 19— 19—

Previous year(s) ending 19

INDIVIDUAL Name

Married : YcsLJ NoXJ ^CheckVonc) Whpther individual, H. U. F. etc No. of dependent chaldron-

HINDU UNDIVIDED FAMILY

Number of members (other than minors Address :J Office •—• —— —- ineally descended from another living Residence • • — . member) entitled to claim partition, as — ———. at t he end of t he previous year —— N u m b er of minor co-parceners State whether [resident/resident supported by t he family a* at t he | b ut n ot ordinarily resident/ end of t he previous year — >—• Non-resident ——— • • > 1—•—1—•—

PART I—Staumint of Total Income

Head of Income

Amount of (If none, w

: income rite 'NONE'

Amount of tax deducted at source [See note 3]

Foreign income [Set note 2]

Rs.

Indian income [Sea note 1] Rs.

1. Salaries [See Note 4] 4 Name and address Gross salary (including of employer/Govt. all allowances and Department perquisites) as

shown in certificate of employer . Rs.

Deduct

Conveyance RB. Books Rs. Other items ', Rs.

2. Interest On Securities [Set Note 5]'., Gross interest . Rs. Deduct—Collection Charges , Rs.

Interest on moneys!

borrowed for investment Rs.

3. Income from house Property [Se" Note 6] Name of Street Gross annual value number of property (gross rent or municipal snd complete 1 valuation, if higher) Rs.

Lei) (a) Municipal

taxes KB. (6) Amount [ex- i „, empt in respect of new resi- dential pro- perty . Rs.

SBC. 3 (H)] THE GAZETTE OF INDIA EXTRAORDINARY 6 4!

² 3 4

be deducted in respect of self- occupied pro- perty . Rs. ——

BALANCE Rs.

Deduct: (d) Repairs . [Rs. (") Collection

charges , Rs.

(./) Interest on

borrowed Ca- pital . Rs. (g) Other items Rs.

4. Profit and gains of Business or Profession

[See Note 7)

5. Capital Gains [See Note 8]

(0) Gains relating to short term

assets . . .. Rs. (b) Gains relating to other assets Rs.

6. Income from other Sources [See Note 9] Dividends: Gross amount Re. Deduct Collection charges Rs.

Interest on moneys bor-

rowed for investment Rs.

Net dividends Rs. Other items [See Note 9(6)] Rs.

7. Aggregate of items 1 to 6

8. Deductions in computing total income (from Part IV)

9. TOTAL INCOMB [SM Note 10]

PART II—Statement of sums not included in Part 1 and which the assesses claims to be not

taxable for any reason

Amount Reasons for Its being claimed as Particulars

Rs. not taxable

1. 2. 3- 4-

TOTAL OP PART II

PART III—Statement of sums included in total income in respect of which Income-tax is not payable

or which qualify for rebate or deduction of income-tax

1. Dividends from co-operative society [Section 8iJ . . . , ,

2. Income from new industrial undertakinR [Section 84] . , , —, ,

3. Dividends from new industrial undertakings or hotels [Section 85] . . . . , ,

4. Donations for charitable purposes etc. and for renovation or repair

of temple etc. [Section 88]

„ „_

5. Othw it"mtt if any. (Giv" dttaili) [Su Not* 11] . . , — ,

642 THE GAZETTE OF INDIA EXTRAORDINARY I I-

PART IV—Deductions in Computing Total Income

A. (1) Sums paid towards life insurance premium or

under a contract for deferred annuity [See Note 12] — —

(2) Sums deducted from salary for securing a deferred

annuity (limited to i/5th of salary) [See Note 12A] (3) Contributions to provident funds and to approved

superannuation fund [See Note 12B] . . . —

(4) Sums deposited by an individual In a 10 year or

15 year account under Post Office Savings Bank (Cumulative Time Deposit) Rules, 1959

TOTAL [Limited to 25% of the aggregate of the Indian

income and foreign income shown against'item 7 in Part I] 60% of the above TOTAL . , v. .

B. Deduction for medical treatment of handicapped de-

pendent (Certificate from Dr— 1——attached) [See Note

13]

-, C.'JDeduction in respect of payment for securing retire-

ment annuities \See Note 14] . , ———. • • D. Other deductions, if any. (Give details)

TOTAL CARRIED TO PART I OP THB RETURN

is a Firm!Association ofpersonsfBody 0) individuals!Partners in a FirmlMember of Association

or Body/Minor admitted to benefits of Partnership]

Name of each partner/minor/ member

Address of the partner/minor/ member

Name and address of the firm/association jof perstns/body of individuals

Extent of share in the firm/ association of persons/body

Stata if any partner/minor is spouuc/chlld of any other partner

cMFORTANT : Where aasessee h a firm seeking continuance of registration granted for an arlier assessment year, a declaration should ba attached in Form No. 12

I,——•—•— •• •

Verification , son/daughter/wife of Shri—————• •—•—• ——

(Name in block letters)

(Name of father/husband)

solemnly declare that to the best of my knowledge and belief the information given in this Return/ and the statements accompanying it is correct and complete, that the amount of total income and other particulars shown are truly stated and relate to all the previous yearB relevant to the assess- ment year commencing on the 1st day of April; 19

I further solemnly declare that no other income accrued or arose to or was received b y * . . .. me @/the family/the firm/the association of persons/the body of individuals during the said previous years and that* IffJ/the family/the firm/the association/the body of individuals, had, during the said previous years, no other source of income.

I further declare that in my capacity as** of the family/firm/ association of persons/body of individuals, I am competent to make this Return and verity it on bchilf of tho nmily/flrm/association of poraons/body of individuals.

I further declare that I am making this Return in my capacity av\

of-— .

Date —

Signature. —.

Pisa

[S#" Note 15)

SEC. 3(11)] THE GAZETTE OF INDIA EXTRAORDINARY 643

IMPORTANT: Before signing the verification the signatory should satisfy himself that the return is correct and complete in all respects,

[Any person miking a false statement in this Return will be liable to prosecution under I-.-'OT 277 of the racirn--tax Act, 1961 and on conviction would bo punishable with rigorous imprisonmont which will not ordinarily be for less than six months and may extend to two years.]

NOTES

* The alternatives which are not required in the declaration should be scored out.

i")In the case of an assossee who is an individual, if the declaration is signed by a person other than the individual himself or in a case where the return is signed by a legal representative, the word " me " or " I " should be scored out and the name of the assessee should be written.

••The declaration shall ho signed by the person empowered to sign and verify the return in accordance with section 140 of the Income-tat Act, 196 T. The capacity in which the declaration i'q littned, should be indicated in the Bpace provided, 0.?., Karta of the Hindu undivided family.

tWh".i-r? th~ r,-turn is furnished bv the executor (s), trustee (s), recoiver, manager, agent, etc. th's should be stated in the space provided and the name of the testator, or intestate, the trust, or other person or nroperty of which he in/they are executor (s), trustee (s), receiver, manager, agent ttc. should also be stated.

NOTES FOR GUIDANCE IN FILLING THE FORM OF RETURN OF INCOME (ITS, 3)

1. 'Indian income' moans income which accrued or arose or was received In India or is deemed to have accrued or arisen or been received in India in the previous year.

2. 'Foreign income' menns income which accrued or arose outside India but is not, deemed to have accrued or arisen and is not also received or deemed to have been received in India in the previous year. (This col, should not be filled in bv a non-resident, or a person not ordinarily resident in Tndia. unless, in the latter case, the income is derived from a business controlled in or a profession net up in India.)

3. The relevant tax deduction certiflcate(s) should be attached.

4. Salaries.—In computing thf income under the head "Salaries", you may deduct the following amounts from the gross taxable snlarv 35 shown In the certificate furnished by your employer or disbursing officer:

[The certificate should be attached-]—

fa) If you own and maintain a conveyance for the purpose of vour em- ployment and do not receive a conveyance allowance from your employer, that part of the total expenditure on the maintenance of the conveyance and the amount representing its wear and tear, which is RUrihutable to the use of the conveyance for the purpose' of the employment,

Cbi Amount snent on purchase of books necessary for the duties, upto Rs. S00.

vincial Act,

(d) Any amount actually expended under the, conditions of ("ervicfe wholly,

necessarily and exclusively in the performance of duties.

5. Interest on securities.—Besides interest on securities of the Central and State Governments, this head of Income includes also Interest find debenture.' or other securities for money of local authorities, statutory corporations and companies. The tax deducted at source from the interest should be added to the net amount of Interest received and the gross amount of interest should be shown against this item. If there are several holdings 6f securities, a Hst' may he attached. The tax deduction certificates should also be attached—vide Note 3. You may deduct the following amounts from the gross amount of interest:

fa) Any commission or charges paid to a bank or any other person for realising the interest; and

6^4 T HE G A Z E T TE OF I N D IA EXTRAORDINARY [FART II-

(b) Any interest payable on moneys borrowed for the purpose of invest- ment in the securities.

If you have received any interest on National Savings Certificates (First Issue) or Bank Series, the amount should be shown separately from the interest on otner securities.

6, Inco?ne from House Property.—Where you are part owner of a property, a separate sheet should be attached showing the computation of the net hgure to be included in this head.

(a) Where the property is let out, a deduction lor municipal taxes is admis- sible upto the lull amount ot such taxes in the case ol property constructed before 1st April, 1U5O, and to the extent of one-halt of such taxes in the case of any other property.

(b) In the case of residential propeity, construction of which was begun and completed aiier 1st April, lutil the rent receivable (Less one-half of the municipal tax periaining thereto) limited to Rs. aOO per residential unit per year, is exempt from tax for the lirst three years, and should be claimed as a deduction in ihe space indicated.

(c) Where the property is occupied by the owner, for his own residence, one-naif ot the gross annual value, iimiteu to Hs, 1,800. should be claimed as a deduction in the space indicated,

(d) The allowance for repairs is one-sixth of the balance of the gross annual value after the deductions at (a), (b) and (c), irrespective of the actual amount spent.

(e) The deduction on account of collection charges may be claimed for the amount actually spent, .limited to 6 per cent of the balance ol the gross annual value after tne deductions at (a), (to) and (c).

(f) Any interest payable on moneys borrowed for acquiring, constructing, repairing, renewing or reconstructing the property may be claimed here.

(g) Here you may claim—

(i) any land revenue or ground rent paid for the property; (ii) any premium paid for insuring the property against risk of damage or destruction;

(iii) any interest on mortgage or capital charge or any annual charge on the property;

(iv) any rent that has remained unrealised and has become irrecoverable;

and

(v) where the property was let and was vacant during any part of the year, the proportionate amount of the gross annual value after the deductions at (a), (b) and (c), according to the period it remained vacant.

If the net income from such property as is referred to in (c) above, after the deductions at (d), (e), (t) and (g) exceeds 1/llth of the Total income, exclusive of the net income from such property, the amount of the excess should be deducted from the net income under this head, and the balance amount shown in col. 2 against this head of income.

"Where there are several house properties, please attach a separate sheet giving the details of the gross annual value and deductions pertaining to each such property and enter the aggregate net income from all the properties in col. 2 against this head ol income.

7. Profits and gains of business or profession.—In the case of a business or profession for which accounts are kept on the mercantile system of accountancy, a copy of the manufacturing or trading account, profit and loss account and balance sheet or trial balance must be attached. If the accounts are kept on any other system, please explain the system and attach a copy of any statement which corresponds to the profit and loss account and balance sheet on the mer- cantile accounting system.

To the net profit as per profit and loss account or corresponding statement, please add baclt capital expenditure and personal expenses (including income- tax paid), if any, debited therein, and also expenditure not incurred wholly and exclusively for the purpose of the business or profession.

inc. 3 (li)] tkfe GAZETTE OF INDIA EXTRAORDINARY 645

If you claim any allowance in respect of depreciation of BuildingSj machinery or plant or furniture used for the purpose of the business or profession, please furnish, on a separate sheet, the particulars of the assets, date (or month and year.) of acquisition or construction of each assets, the cost of acquisition cr construction and in the case of buildings, how exactly they are used (i.e. as office, godown, factory, residence of employees etc.).

If you claim any allowance in respect of development rebate on machinery or plant installed for the purpose of the business, please furnish, on a separate sheet, the particulars of the machinery or "plant, date (or month and year) of installation and the cost of acquisition.

The amount of depreciation allowance claimed (to the extent it exceeds the amount, if any, debited in arriving at the profit in the profit and loss account) and the amount of development rebate claimed should be deducted from the adjusted figure of profit, and the resultant figure shown in col. 2 against this head of income.

If there is any income from speculation business, the details thereof should be furnished on a separate sheet, and the net amount added to income from any other business or businesses and the aggregate amount shown against this head of income in'col. 2.

Where the assessee is a partner in a firm, or member of an association of persons or body of individuals, his share in the income of the firm, association or body should be added to his other business income, if any, and the aggregate amount shown In col, 2 against this head of income. Where the firm has any income other than from business or profession, the partner's share in such items of income should be shown against the appropriate heads.

8. Capital gains.—(a) Short-term capital asset means a capital asset held by the assessee for a period not exceeding 12 months preceding the date of transfer. Where the capital asset became the property of the assessee through gift or inheritance, partition of H.U.F. etc., the period for which the asset was nidld by the previous owner is to be included in reckoning the 12 months period.

(b) The amount of capital gain on the transfer of a capital asset is the sum by which the amount of the consideration for the transfer exceeds the cost of acquisition of the asset as increased by the cost of any improvements thereto and also by the expenditure incurred by the assessee wholly or exclusively in connection with the transfer. Where the capital asset was acquired by the assessees before 1st January, 1954, he may, if he so desires, have the fair market value of the asset as on 1st January, 1954 treated as his cost of acquisition.

Where the capital asset became the property of the assessee through gift or inheritance, partition of H-U.F. etc., the cost of acquisition of the asset to the assessee is the cost of acquisition to the last previous owner who acquired it otherwise than through gift, inheritance etc. If such last previous owner had acquired it before 1st January, 1954, the fair market value of the asset as on that date may be taken as the cost of acquisition.

(c) (i) Where the capital gain arises from the transfer of one or more items ot house property for an aggregate consideration of Rs. 25,000 or less, and the aggregate value of all items of house property belonging to the assessee imme- diately before the transfer did not exceed Rs. 50,000, the capital gain Is exempt from tax and may be shown in Part II of the Return.

(ii) Concessional tax treatment is accorded in a case where the capital gain arises from the transfer of a house property in the following circumstances, namely:—

(a) the house property was being used mainly for the residence of the assessee or his parent, during the two years immediately before the transfer; and

(b) the assessee has purchased, within a period of one year before or after the date of transfer, a house property for his residence, or constructed such a property within two years after the date of the transfer.

In these circumstances, the capital f.fain on the transfer is chargeable to tax only to the extent, if any, that it exceeds the cost of the property acquired or constructed, as stated above. Only such excess, if any, of the capital gain need be shown in Part I of the Return. Whether or not there is such an excess, a separate sheet should be attached

646 THE GAZETTE OF INDTA EXTRAORDINARY [PART I I-

showing details of the -property transferred and of the yropcrty

acquired or constructed.

(d) Gains arising from the transfer of 'Personal effects' are not 'capital' gains for the purpose of charge of income-tax.

9, Income from, other sources.— (al Dividends.—The tax deducted at source from the dividends should be added to the net amount of the dividends received, and the Rross amount should be shown against this item. If fhere are holdings of shares in several companies, a list may be attached. The tax deduction certi- ficates should also be attached—vide Note 3. You may deduct the following amounts from the gross amount of dividend:

(i) Any commission or charges paid to a bank or any other person for realising the dividend; and

(il) anv interest payable on moneys borrowed for Investment in the shares.

Income received on units in the Unit. Trust of India is exempt upto Rs. 1,000. If such income exceeds Rs 1,000. the excess may be shown hero along with dividends on shares of companies,

(b) Any income which is not shown against the heads of income ?t 1 to !i of Part I, or against dividends, should be shown against 'Income from Other Sources—Other items'. The following are illustrative of the itpms of income to be shown here:

(i) Interest on bank deposits, current and savings accounts,

(ii) Ground rents. (ili) Fees from tuitions, received by an individual not engaged in a profes- sion.

10. For arriving at the total income, please take the aggregate of the Tridian income and the foreign income under all heads of income and deduct therefrom the amount arrived at in Part IV. If the balance is not an exact multiple of ten. rupees- it should, then be rounded off to the nearest multiple of ten rupees For this purpose, the figure in the units place should be reduced to zero, if it is 1, 2, 3 or 4, and it. should be Increased to ten, if it is 5, 6, 7, 8 or 9. T^ie balance us so rounded off is the Total Income.

PART III

11- The following amounts. If any, may be shown here:

(a) Interest on tax-free securities of Central Government or any State

Government (Section 86A),

(b) Dividend ^attributable to the agricultural income of the company oayinu 'the dividend, in respect of which the company is liable to pay agricultural income-tax to a State Govt. (Sec. 235).

part of the tax, if any, payable by the firm.

(d) Where the assessee is a partner in an unregistered firm or a member of an association of persons or body of individuals, and tnx has been paid or is payabTe by such firm, association or bodv, the assessee's share in the income of such firm, association or body,

(e) In the case of a non-Indian citizen, resident In India, the exnens^s incurred on full time education of his children abroad, limited to Ru. 2,000 per child and Rs. 4,000 in the aggregate (Sec. 87A1

PART IV

12. Premium paid on the following kinds of policies may be entered against this item—

(1) Where the assessee is an individual—

(a) a policy of insurance on the life of the assessee, or on the life of

the assessee's wife/husband;

(b) a contract for a deferred annuity on the life of the assessee or on

the life of the assessee's wife/husband.

Bfo, "(Ii)] THE CAZETTE OF INDIA EXTRAORDINARY 647

(2) Where the assessee is a Hindu undivided family—

a policy of insurance on the life of a male member of the family, or on the life of the member's wile.

In the case of a policy of life insurance, where the amount of premium paid in a year exceeds l/lOth of the capital sum assured under the policy (excluding any bonus addition), the amount to be shown against item A(l) should be limited to 1/lOth of such capital sum.

12A. This item is relevant only when tne assessee .is a Government employee and any amount has been deducted fiom his salary, under the terms of his em- ployment, for securing to him a deferred annuity or making provision for his wife and children.

12B. Assessee's contributions to the following funds may be entered against this item, namely:—

(i) a provident fund to which the Provident Funds Act. 1925 applies; (11) a provident fund recognised under the Income-tax Act [the amount tn be shown under this head is limited to l/5th of the salary];

(ill) a superannuation fund approved under the Income-tax Act.

13. Deduction in respect of medical treatment etc. of handicapped dependent (.Section 80B).—This deduction is admissible only to an individual or Hindu undivided family resident in India.

The handicapped dependent should be a relative of the Individual or should be a member pi the Hindu undivided family.

Where the handicapped dependent was admitted in a hospital, nursing home or other institution fox not less than 182 days during the relevant year, and fees and charges were paid to the hospital etc., the deduction to be claimed is Rs. 2.400. In all other cases, the ajnount to be claimed is Rs. 600, If the handi- capped dependent has any income of his own, the amount ofTls. 2.400" or Rs. 600, 03 the, case may be, should be reduced by the amount of such Income and only ihe balance claimed as a deduction. ~

14. Deduction in respect of payment for securing retirement annuities,—This deduction is admissible only to a resident Indian citizen whose income includes a share in the profits and gains of a registered firm of chartered accountants, solicitors, lawyers or architects. The amount of premium paid by the assessee under an approved annuity contract issued by the Life Insurance Corporation of India, or to an approved fund, for securing to himself a life annuity in his old age, may be claimed as a deduction here. The amount admissible as deduc- tion Is limited to the assessee's income under the head "Profits and Gains of Business or Profession" and cannot exceed l/10th of the aggregate income against item 7 of Pnrt I. The deduction is not. admissible in a case where the unearned Income (i.e. income from house property, interest on securities, dividends and the like) exceeds Rs. 10,000 or if the assejsee is participating in any pension or superannuation scheme. Where the premium on an annuity contract has been claimed under ffris head, no amount should be claimed in respect of premium on the same contract against item A(l) of Part IV.

15. Return by whom to be signed.—In the case of an individual this Return should be signed and verified by the individual himself. Where the individual is absent from India, he may if he desires authorise another person to sign and verify the return on his behalf. Where the individual is mentally incapa- citated, this Return should be signed and verified by his guardian.

In the case of a Hindu undivided family, this Return should be signed and verified by the Karta. Where the Karta Is absent from India or is mentally Incapacitated, this Return should be signed and verified by any other adult member of the family.

In the case of a firm, this Return should be signed by any partner of the firm, and in the "a¹^ of an association of persons, by any member of the asso- ciation or the principal officer thereof."

fNo. 17/F No. 3(10)ft8-TFL.1 V. RAMASWAMI IYER, Secy.

PRINTED IN INDIA BY THE GENERAL MANAGER, COVtRNMKNT OT JltTiJU. n"BBH, UmV WKI.HT "NO PTTBLTftnen BY THK MANACJFH CIV PUBI.irATTONfl OW HI HM17

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TOTAL . ↩
e tc. this should be stated in the space provided and the name of the testator, or intestate, the trust or other person or property of which he is /they are exocutor(s), trustee(s), receiver, manager agent ate. should also be stated. ANNEXURE 'A Salariti Assessment Year : 19 1 9 .. .. Name of Assessee 1. Nime and address of the employer 2. Total amount of salary, Wages, pension, gratuities, commissions, bonus, fees or profits in lieu of or in addition to salary and wages, due to be paid, whethor received or nat (excluding amounts shown against Serial Nos. 3&4), any arrears f salary received and salary received in advance [See Note 1] 3. Amaunt of periodical ca«h allowances : (a) Houso rent allowance [See Note 2] Rs. (b) Entertainment allowance . . . . . .. Rs. (e) Other allowances [See Note 3] 4. (a) Employers'contribution to recognised provident fund in excess of 10% of l ie assessee's salary (ft) Interest credited to the assessee's account in such fund in excess of one-third to the salary or in excess of the rate of interest fixed by the Central Government 5. Valueofreit-freeaccommodationorvalueofanyconcessJoninrent for tho accommodation provided by the employer, as determined under Rulo 3 of the Income-tax Rules, 1962. (Give details, basis of com- putation and also state Whother the accommodation is furnished.) . 6. Where a conveyance has been provided by the employer, value of the perquisite as Istermined under Rule 3 of the Income-tax Rules, 196a. (Givedetails) ↩
In accordance with section 140 of the Income-tax Act, 1961. The capacity In which the declaration is signed, should be indicated in the space provided, e.g. Karta of the Hindu undivided family. S*ction 140 of the Income-tax Act, 1961; "140. The return under section 139 shall be signed and verified— (a) in the case of an Individual, by the individual himself; where the individual is absent from India, by the individual concerned or by some person duly authorised by him in this behalf; and where the individual is mentajly incapacitated from attending to his affairs, by nil guardian or by any other person compe tent to act on his behalf: (b) in the case of a Hindu undivided family, by the Karta, and, where the Karta la absent from India or is mentally in capacitated from attending to hb affairs, by any other adult member of such family; fc) in the case of a company or local authority, by the principal officer thereof; (d) in the case of a firm, by any partner thereof, not being a minor; (e) in the case of any other association, by any membr of the association or the principal officer thereof; and (f) in the case of any other person, by that person or by some person competent to act on his behalf." 5. Where the return Is furnished by the executor(s), trastee(s), receiver, manager, agent ↩
s > 3- ↩
SECTION I Computation of Total Income ↩
Date Signature [To be filled in where the asseasee is a dealer, broker or agent or concerned in the management of a stock or commodity exchange] ↩