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REGISTERED No. 221

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

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

Separate paging is given to this Part in order that it may be filed as a separate compilation.

CENTRA1!, 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

( 5 7 1)

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

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

(a) where a return of income relates to the assessment year commenc- ing on the 1st day of April, 1961, or any earlier assessment year it shall be furnished in the appropriate form prescribed in rule 19. of the Indian Income-tax Rules, 1922, and shall be verified in the manner indicated therein;

(b) where a return of income relates to the assessment year com- mencing on the 1st day of April, 1962, or the 1st day of April, 1963, or the lat day of AprU, 1964. it shall be furnished in the appropriate form in force' immediately before the 1st day of April 1967, and shall be verified In the manner indicated therein.". 3, In Appendix II to the principal rules, for Form Nos. 1, 2 and 3, the fol- lowing Forms shall be substituted, namely:— "[For Companies only]

INCOME-TAX ACT, 1961

FORM NO- I

[See rule 12(1) (a)]

GI R No ~~ Nations! Emblem) (To b? filled in by the Income- tax Office).

Return of Income

Imp i'ta %t ; AU ipplicable entries Assessment year 19 19

r- a il m e x u r cs must be filled in. If ttn spv;c la not sufficient, Previous year(s)—ending" pieu^ Utachseparatestatcmeits, (See Note 1) \ k J strially numbered, aid specify jnPartVIII the number of sheets in ]each statement. Name — •

.—

•

Address State whether reaident or non-resident

PAHT I—Sta'ement of Total Income

[See N.ite 2]

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

Indian income Foreign income [See Note 3] [See Note 4]

1

2

(a) Government securities

1. Interest on securi-

Rs. Rs.

ties [Annexure B]

(6) Others

Property [Annexure C]

2. Income from H)Use

(a) Own business or profession

3. Profits and gains of business or profession.

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

28, Expl. 2)

(t'O Other business or profession.

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

Expl, 2)

("0 Other business or profession.

1

2

Rs.

Rs.

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

(t) Speculation business (Sec.

28, Expl. 2).

(it) Other business or profession.

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

J [Annexure E]

(6) relating to other assets:

(t) lands or buildings or any

rights therein.

0"0 Others

(a) Dividend? [Annexure P.] (6) Iitorest other than interest on

securities.

(c) Other items (Give details)

Aggregate of items 1 to 5

0 united in Annexure G)

T O T \L IN23M3 (H

^forss : 1. If th"re ire llff.-reit p-evious ye ira for different sources of income, the source or sources should be indicated against each previous year,

2. If the income of any other persoi is inclulible in the total income under the provisions of sections 60,61,62 and S3 of ths Incoms-tax Act, 1961, such income •should also be shown in this Return under the appropriate heads.

3. 'Indianlncamri'mMnsinODtni which iccruod or arose or was received In India or is doamsd to hive accrued or arisen or been received in India in the previous year.

4. 'Foreign Incam;'m:ans all income which accrued or arose outside India but is not deemed to hive accruad 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 iacom; of th; firm u i i er the hial "Profits aid Gains of business or profession'' sh >uld alone be shown in this item. Where the firm has income under any other haad or I m is of mc3m:,the share of the assesaeein such income should he shown against the appropriate items.

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

any reason

Amount

Particulars

Rs.

Reasons for its being claimed as not taxable

I.

2.

3- 4- 5-

TOTAL OH 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.

1. Interest on tax-free securities [Section 86A] 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)]

4. Profits from new Industrial undertakings or hotels [Sec. 84] 5. Dividends from pew industrial undertakings or hotels [Sec. 85] . 6. Dividends from domestic companies (other than dividends shown against

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

(a) received by a company which is not a domestic coflipany from a closely held Indian .company, mainly engaged in any specified priority industiy

(b) other dividends

7. Dividends from certain foreign companies [SccSsB] 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. 881

^

10. Dividends attributable to agricultural ir.ctrrc 0 the company paying the

dividends [Section 235]

11. Other items, if any (Give details)

TOTAL OF PART III

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

Tax deducted at source

(Tax deduction certificates to be attached)

Advance tax paid

Date of payment

Amount Particular

Amount of tax Rs.

Rs.

Interest on securities .

1

Other interest

Dividends

Any other Income

TOTAL

TOTAL

PART V—Statement of Particulars in Respect of the Company and its Subsidiary Company (ies)

i. Address oftheRegistered Office of the company 2. Address of the principal place of business

of the company in India.

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

company(ics)

5." Where the company (or any person acting on behalf of the company) is a partner in a firm ' for firms) or a member of an association (or associations) of persons or a body (or bodies) of individuals.

Addrcss of each part-

ner/member

Extent of share of each partner/member Name and address of the firm/association/body

Name of each partner/ member, including the asscssee, or any person acting on be- half of the assessee-

PAKT VI— Stitamnt of Pirticulars Ralevant for Determining the rate of Tax Applicable etc.

I. IB the company—

(0 an Indian company [Answer 'Yes' or 'No'] (fi) 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 (*) or (11) is 'Yes', then furnish further particulars as

inlitems 2 to 4

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

Annexure H If the answer is *Yes', please furnish the required information In

3. If the answer to item 2 is 'No', does the company claim to D e-

fa) an 'industrial company', that is to say, a company mainly engaged In 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' o r ' N o '] . . . . - , • .•

{6) covered by the provisions of section 104(4) or a notification issued under

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

If the answer is 'Yes', please state— <0 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.

Ra.

(it) 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/are exempt from income-tax in respect 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)

PART VII—Statement of Othtr 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.)

1. 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 article or things in the Fifth Schedule to the Income-tax Act, 1961 [Sec. 80 E].

Rs.

2. (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)

(date)

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

2(22)(

(date)

PART VIII—List of Annexures and Statements

[Please mark in the appropriate columns—

/ for Annexures filled in ; X for AnnexureB not filled in.]

ANNEXURE

Number of sheets in Statement No-

B C D E F G H J ^{1 2} 3 4 5 6

Verification

I,

5 Bon/daughter/wife of Shri

(Name in Block Letters)

j being the

, (Name of father/husband)

(Designation) Of

(Name of assessee 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 ist 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 was resident in India during the previous year(s) for whicfti 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

r

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

„ (Signature of the Principal Officer) 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 rigorous im- prisonment which will not ordinarily be for less than six months and may extend to tw"> years.]".

ANNEXURE B

Interest on Securities

(See sections 18-—21)

Name of assessee

Assessment year : 1 9 , . .. 1 9 . . ..

Serial Particulars of security

Gross amount of interest due

No. held

Face value of the holding

Amount of tax deducted at

during the year

souict [See Note 1]

On Govt,

securities

On other securities

1 2

6

3

4

5

Rs.

Rs.

Rs.

Rs.

TOTAL

On other securities

On Govt, securities

GroBs amount of interest due during

the year,

(a) Amount of expenses incurred for

realising the interest

[See Note 2]. Rs.

Deduct} In the case of a company other than a Banking Company.

(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.

OR

(a) Amount to be re-

In the case of a Banking

Company.

garded as sum reason- ably expended by the company for realis- ing the interest [Sec- tion 2O(l)(i)1 [See Note 2] Rs.

On GOVT. Securitea

On Other Securites

(fc) 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)(H)] [See Note 2]

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

Signature of the Principal

Officer

DtteJ Seal of the company

Noras:—

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.

2. The expenses and interest at (a) and (6) , 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.

-

'

AttHEXURE d

'

•

Income From House Property

Name of assessee • '—•—•—•—•—•—•—•— Assessment year: 19 19—i—

• Sl. Address of property No. (including Munici-

.

pal or other num-

Annual Muni- cipal valuation of the property [See Note 2]

ber)

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

•

newly cons- tructed build- ings, vide sec- ond proviso to sec. 23(1)

- If the company is a part owner of the proper- ty state the extent of com- pany's 3hare and the names of the other part-owners and their shares

. .

bilities relating in respect of to taxes levied by a local au- thority but borne by the owner and claimed as a deduction [5e"Note3]

Sum admissible Net amount after deduct- ing amounts shown in coL 8 and 9 from the amount shown in col. 6 or col. 7, as the case may be {See Note 5]

Full annual rent Tenant's lia- 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

f

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 1]

6

10

8

¹ 2

5

7

3

9

4

Rs.

Rs.

Rs.

Rs.

Rs.

NOTES: I. (a) Where the whole ofthe property is used forthe purposes of the business or profession of the company, the property should not be listed 1

this Annexure.

(b) Where apart of the property is soused, the proportion of the remaining part to the whole of the property may be determined on the basis of

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

,

2. Where 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 thf aunual municipal valuation of the whole of the 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, thedaimis to be restricted to one half of

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

3 7 9 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 affexiod 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 amount of such gnmijii value; and (ii) in respect of any residential unit whose annual vahie 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 company for theii residence free of rent, this deduction will not be admissible in respect of the part so used.

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

5

8

O

Total of columns 11 to 18

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

Ground rent paid for the property

Allowance for repairs [ See Note • -6]

Land Re- venue paid for the pro- perty

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

Net in- come] loss (coL 10 minus col. 19)

the amount shown in coL 10)

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

Sl. No. (Re- peat from Page (0

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

T H E Net amount i after deduc- 1 ting amounts shown in cols, 8and9from the amount shown in cols 6 or col. 7, as the case may be (Re- peat from page l)

>

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

Amount of net income of assessee (where as- sessee is the sole benefi- cial owner, repeat the figure in col. 20; where assessee is part ownerj state the fraction as per col. 4 of the figure in col. 20)

G A Z E T T E

IO

II

16

12

20

O F

18

I

21

15

13

19

I

N D

I

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

A

E X T R A O R D

I

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

N A R Y

Date Seal of the Company

Signature of the Principal Officer

[ 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 sumequal to one- sixth of th.e amount shown in col. 10, and (b) where the tenant has undertaken to bear the cost of repairs, the excess of the amount stjown in col, 10 over the amount of rent payable, or one-sj^th

n ~

ANNEXURE D

Particulars of Profits and Gains of Business or Profession

SECTION I

Name of aasessee

Assessment year : 19—19—

If the accounts are kept on the mercantile system of accounting, a copy of (he maruficiurirf account or trading account, the profit and loss acccunt ard fcalarcefhetl musi Ircaitathtd. Jf lie accounts are kept on any other system, a description of ihc system Ehculd tc giver erd a ccpy eff any statement which corresponds to the profit and loss acccuntard bBlarct trcci in ire mcrartile accounting system must be attached.

A opyofthe Auditor's Report under section 227 ofthe Companies Act, 1956 must also be attached.

Speculation Other business business or profession

1. Profit or loss as per profit ard loss account (or staitmtr t corresponding to the profit ard IOSB acccur.t) for ihe previous year ended . . . . . 19 19

Profit (+) / Loss (—) BJ. RS.

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

2. Any taxable profit or gain not included in arrivir g 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 settlors 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. (6) others

•

. . —

7. Income-tax, surtax, penalty, etc 8. Cost of additions to, or alteration s,cxtcrsiors or impro- vcments to any oftheassetsofthebusiressorprofcbsion 9. Other expenditure ofthe 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 ofthe 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 re- 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 4O(a) (Give details) . 15. (a) Expenses and allowances charged in the accounts in respect ofthe items referred to in ace. 4o(c)(i) and (ii) [Total of theamountsin col. 14 of section 6 of this Annexure]

(6) 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 of the company, to the extent such expenditure exceeds one-fifth of the amount ofsalary payable to himforthe period of hisemployment[Section4o(c)riii)] [Totalofthe amountsin col. 16 of section 6 of this Annexure] .

•

58a

. .

Speculation business

Other business or profession

16. In the case of a Banking Company, the amountwhich Is allowable fas a deduction undor sec. 20(1) in computing its income under the head "Interest on Securities" (i.e. the ammnt claimed as deduction in Annexure B).

17. Expenditure In the nature of entertainment expenditure which excels the amount computed under the provisions of BBC. 57(2)

18. Expenditure on advertisement, maintenance of accommo- dation in the nature of a guest house and on travelling by employees and others for the purpose of the busi ness or profession which exceeds the amount admissible under sec.37(3)readWithRulo6Aj6BJ6Cand6D of the Income- tax Rules, 1962. [See Section 2 of this Annexure]

19. Any expenditure not incurred wholly and exclusively for . the purpose of the bU8inos&orprofession(Givedetalls) . 30 Any other expcndlturewbichisnotallowableunderthe provisions of sections 28 to 44 (Give details) .

21. Amount of profits chargeable under

(a) section 41(2) JTotal of the amounts in col. 17 of Section 3 of this Annexurel . . ..

(b) section 4i(i)(3XIan

22. Total of items 1 to 21

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

23. A^y profit or gain, capital sums or other items such as

interest on securities, income from house property, etc., credited in arriving at thftaboveflgure of profit which aje not taxable under the head "Profits and gains'of business or rofeisioi" or which hwo already been charged to tax in the hands of the assessec (Give details)

24. Expenses on repilrs and insurance of assets used only

plrtly for the purposes of the business or profession claim si as reiso.iable deduction under section 38(2), ex- cluding am xnv r e a r ed to in section 40ft) (Give details).

25. Etp;isesaiJ.1Uiwinces(orA?r than depreciation)

referred to in se^tio^ 4o(c)(i) and (ii) which the company claims as reasonable deduction under sections 10 to 38 hiving regard to the provisions of section 4o(c)(i) and (ii)

- [vide Section 6 of this Annexure ].

26. Allowance on account of depreciation and any unassorted

depreciation brought forward from the earlier assessment year( \TTr~ gate of the amounts in columns 15 and 16 of Section 3 of this Annexure] . . ..

27. Scientific Research Expenditure :

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

(ii) Any sum paid to an approved scientific research association having as its object the undertaking of scientific resciTcK or to an approved university, college or other institution to be used for scientific research (Give details).

(Hi) Any sura paid to an approved university, college or

other institution to be used for research in social science or statistical research related to the class of business carried on (Give details)

(iv) Tho appropriate part of expenditure of a capital

nature on scientific research related to the business, admissible under section 35(2) (Give details) .

28. Amount of capital expenditure on the acquisition ofpatent

rights or copyrights admissible under sec. 35A (Give detallt)

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

Other business Or profession

Speculation business

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 t he above figure of profit/loss (Give details)

3 1. Any other sum(notbeingdevelopment 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 undor any of the items on page 1 of this Annexure.

. . ..

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. N et Profit (or loss carried to Part

I of the return [Item 22 minus item 34]

Date

Signature of the Principal^

Officer

Seal of the Company

3 8 4

Sfcrtotf 2

r4ame of assesses = =

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 mth Rules 6A, 6B, 6C and 6D of the Income-tax Rules

1962.

T H E

Amount of excess if any (".e. col. 1 tninus

C0L2)

Account debited in Profit and Loss Account

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

1

G A Z E T T E

2

3

O F

I. Expenditure on Advertisement

I

N D

I

A (a) Articles intended for presentation. (b) Advertisement outside India involving payment in foreign currency, (c) (1) Paym=nttoa person whohassubstantialintetestin the business of the

assessee or to a relative of such person [See Note i],

(a) 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].

(d) Amount(s) exceeding Rs. 2,500 voi&othervnsethan by crossed cheque drawn

on a bank or by crossed bank draft.

E X T R A O R D

I

TOTAL OF ITEM I

N A R Y

[

P A R T

I I -

TL Expenditure on maintenance of Guest tiouui i

S E

f t

3

(

H Sl. Place at which. located No.

\ ] 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 ia coL 3 qualifies for allowance under Rule 6C(i) [Answer 'Yes'or'No', If'yes', state howj

1 2

6 3

5

4

T H E

•

G A Z E T T E

O F

I

N D

I

A

TOTAL OF ITEM II

E X T R A O R D NOTES: r. Where the recipient of the paymentis-a company, firm, association of persons or Hindn undivided family, it will be considered as having a 'substantial Interest' in the business of the assesses, not only where the company, firm, association or family, as such, has such an interest, but also where a director of the company, or 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 the assessee.

I

2. The assessee company will be considered as hiving a substantial interest in the business of the recipient of the payment, not only where the com-

pany, as such has s j ;h an interwt, but also where a director of the company, or any relative of the director, has such an interest.

N A R Y

5 8 5

5

I. Expenditure in connection with travelling by an employee or any other person

8 6

(a) Travelling outside India

No. of days spent outside India

SL No.

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

Amount of excess if any (coL 7 minu coL 6)

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

Amount of expen- diture debited in Profit and Loss Account

No. of days (out of No. of daysrequir- No. in cot 3) main- ed for travel by a ly devoted for the reasonably direct purposes of business route in the mode Or profession of the of travel adopted assessee

2

i

6

8 3

7

4 5

T H E

G A Z E T T E

TOTAL OF ITEM III(a)

O F (b) Travelling inside India (outside Headquarters)

I

N D

I

A Name of employee or other person, and designation

Amount of excess, if any (i.e. coL 4 minus coL 5}

Amount admissible under Ruk 6D(2Xb)

Sl. No.

where relevant

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

other allowances

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

Loss Account

E X T R A O R D

6 1

2

I 3

4

5

N A R Y

TOTAL OF ITEM III(b)

[

TOTAL QIKRIHD TO SECTION I OF THIS ANNEXTJKE [TOTAL OF I, II, III(a) AND HI(b) ]

P A

I

T I I .

—

Dste

S,93J]ofth"lCoinpany,

Signature of the Fpntfp"l Officer

•

M L

"

SUCTION 3

W

l

'Depredation

Statement of partkuian rtqutrtd us b* funuthtd under section 34(1) and of the amount of depredation

"Actual cost" in the case of assets acquired 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 ships]

Name of assessee- Assessment year ' 19 19

T H E

Prescribed rate pei cent [See Note 4] In the case of an asset which has been sold, discarded, demolished or destroyed during the 'previous year*,

G A Z E T T E

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,

O F

the amount should be shown as 'NU'

I

Date from which the 1 new asset or the addi- tions and extensions referred to in col. 4, were used for the pur- poses of the business or profession, and date on which the al- terations and Lmpro-

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

' vements referred to

Description of the asset—-building, ship, machinery or plant, furniture—including any such asset which haa been 30M, dis- carded, demolished or destroyed during the "previous year" [ S" Note il

N D

in column 4 were

I

A

effected

- during the'previous year¹; and in the case of existing assets^ ca- pital expenditure in- curred during the 1 'previous yea? on ad- ditions, alterations, improvements and j extensions thereto [See Note 2]

2

6

8 3

4

7

5

E X T R A O R D

I

N A R Y

f i

8

i

5 8 8

No, of days for which the asset

Depredation claimed

was worked

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

- [Col. (3+4) """"

Double shift Triple shift

col. 6]

Initial

Normal Extra shift allowance

Terminal charge un- der iec 41(2) [CoL 6 minus coL (3 + 4)] [S"? Note 6] SL No. (Re- peat from

Total (cols. — 11 to 14)

[See Note 5]

Double shift Triple shift

S"

I

16

17 9 io

11

15

12 13 14

T H E

G A Z E T T E

O F

I

TOTALS CAHBIED TO SECTION I OF THIS ANHEXURE

N D

I

A

Date: Seal of the Company

Signature of the Principal Officer.

NOTES : 1. Where an asset has been sold, discarded, demolished or destroyed during the 'previous year¹ it should be listed as a separateitem in column 2.

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

E X T R A O R D

I the 'actual cost' to be shown In col. 4 is Rs, 25JOOO.

N A R Y 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 wiE be computed by multiplying the actual amount of sale price, insurance, salvage or compensation moneys and the amount of scrap value, if any, by the fraction:

25.000

the actual cost of the motor car to the assetaee as computed without limiting 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 such machinery or plant to be

f

shown in coL 8 will be 100 per cent, (This provision applies for the assessment year 1966-67 and later assessment years).

T m

r

| 5. Initial depreciation is admissible in respect of only tha buildings of the type referred to in section 32(iXiv)" 6. The amount to be entered in this column should b" limited to the amount of depreciation actnaUy altowd to t i w t W MB In f w f ot of tha awe* Z ~ for all past years.

t

* a

Dmbpmtnt Rabat*

f t ( t

y

)

Statement of particutart required to be furnished for the purpost of section* 33 and 34 oftht amount on development rebate.

Name of assess ee • Assessment year : 19 —19 •

T H E

Remarks Description of asset i.e. ship, machinery

Sl. No.

Amount of de- velopment re-

or plant

Actual cost of the asset in co!. 2

Date of acquisition of ship or date of in- s tallation of my*" "ft]

Rate of de- velopment re- bate per cent bate

or plant

G A Z E T T E

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

O F

In the case of a second-hand ship3 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

I

N D

I

1

2

8

6

A

9

5

7

3

E X T R A O R D

I

N A R Y

TOTAL QUERIED TO SECTION I OS THIS ANNBJEBEB

Sigrnpire of tbe Prfndptl Officer.

D*e Seal of the company

5 8 9

5 9

O

SBCTKJN 5

Development ASomute*

Name of asscssce

Assessment year 19 • • • 19 • •

Statement of partienlan prescribed for pttrpom of section 3^4 cmd of the amount ofDevelopment AUoaanu

(To bt filled in only by a company carrying on a business oj grotsing and mamijacturing tta in India.)

T H E

Particulars relating to planting of **a trashes, after 31-3-65 on landnot planted at any time or which had been Name of tea estate

S.Na.

Whether Situated in

Previously abandoned

Amount

G A Z E T T E

"Go-.i of

piaatdng"

'

"Actual cost of planting' (cot 6 mimiz col. 7) limited J

Extent of land referred ta in col. 4 (in beware?!

declared by the Board to be a "hilj area" if so] specify thej

"Previous year" in which the land was prepared t

O F

Developmeni Allowance¹ 50% of the [amount in col.8V !

I

N D

Amount, it any, of the cost in coL 6, which has been met 1 directly 01 in- directly by any other per- son or authiri-

I

A

'. Amount allowable ,j3a deduc- tion in res- . 1 ect of t he [second pre- 1 vious year from the previous ^eai Lrefened to in coL 4 (S" Note 3)

to an amount calculated at Rs. 12,500(1 Rs. iopoo pf / hectare of the] extent of land in col 5 ( SM Note 2)

allowable asa dedtKtion in respect of the 4th pie- vions year from the previous year rdened to tn Col. 4 (coL 9— coL 10) (See NoU 3)

E X T R A O R D

I

11

10

8

2

6

9

5

3

7

f f t

a x

M

-

* 0

.

PartUtdarsTtlatlngtopteniingofua]bushes, after 31-3-1963and btjore 31-3-1970 in replacement ofteabmhathathaotdiedor

hoot become permanently useless on any lakdairtady platted.

l ( i f ) ]

Amount, if

Total tm-

ount of

S. No. c

(Re- in whkh ib" land'

peat wai prepared

any, of the

1) cost in col.

"Actual cost ^Development

"of pJanting"

(col. 14

Extent of "Cost of

land referred,, planting" [

to m col. 12 (See Note

(in hectares)

development

allowance

from

page 1)

Allowance

30% c€ the

amount inf

col 16)

Amount 0

development

allowance

reserve

created

15) limit wl

Ltoan amount

claimed

(coL 9+col.

17 orcoL

[Sec. 33A

(3) GO ]

T H E

Amount allow-

• able as a de-

duction in

respect of the

4th previous

year irom

the previous :

year referred

to in col. 12

Amount allow-

able K a deduc-

tion in respect

of the seco-

nd year from

the pre-

vious' ^ear

referred to in

coL 12

(Sec Kote 3)

14 which JSS PWHM col;

been met

directly or

indirectly by r^Trninrf^ gt

an; other

person or

ttntiiojTty

11+

coL 19, as

the case

may be)

(col. 17—coL

18) (See Note 3

Rs. 12,500/

Rs. 10,000

per hectare

of the extent

of land in

cot 13

1

G A Z E T T E

(SeeNote 2)1

O F

I I 13

21

16

18

20 13 14

15

17

N D

I

A

TOTAL CARRIED TO SECTION I OF THIS ANNEXURE

'

E X T R A O R D Date Seal of the Company

Signature of Hie

Pzincipa] Officer.

I

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

N A R Y (a) cost of preparing the land; fb) cost of seeds, cuttings and nurseries; (c) cost of planting and replanting; and (d) cost of upkeep of the tea bushes during the font successive 'previous jears' ccirireiiciEg with the 'previous yeai' shown in coL 4 or coL 12, as the case may be.

2. The calculation shoold be made at the rate of Rs. 12,500 per hectare of the extent of bed shewn in coL 5 or cd. 13, as the case may be, where the

land is situated in 1 "hilly area", and at the rate oi Rs. 10/xo per hectare of the extent of land shown in cd. 5 or col. 13 where the land is

situated m any other area.

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

f i

O

/

i may be, no entry should be made in columns 10 and 11 01 18 and 19; where the ckim rekret to the 4th previous yesr from the previous year shown in col. 4 or col. 12, entries should be made in these columns is well, and fci the sake of convenience, the entries relating tocuch claim should b* listed undes a separate serial number from the entries relating to the claim in respect of the second previous yen.

AjHBUKB D

5 9 2

SBCTION 6

Name td atsessa

-Atsessment yen 19 .19

Particulars of—

(i) expenditure which has resulted directly or indirectly in the provision of any remuneration or benefit or amenity to a director 01 to tny other

person having a substantial interest in tbe company, or to a relative of a director or such cither person [Sec. 4o(c)(i}];

(if) expenditure debited or allowance claimed in arming at the profit in respect to the assets of the company used by any director or other person

or relative referred to in (i) above, wholly or partly for hris own purposes or benefit [Sec 40(cXiO]; and

T H E (in) expenditure which has resulted directly or indirectly in the provision of any benefit, amenity or perquisite, whether convertible into money

or not j to an employee of thecompany where such expenditure exceeds one-fifth of the amount of the salary payable to him for the period of his employment [Section 4O(c) (iii)]

Expenditure (other

Amount of enter-

S.Ncu Name and address of—

(a) director or any

other parson or re- lative referred to in [i) and (if) above;

or

Salary including dearness allowance if the terms of em- ployment so pro- vide, but exclud- ing all other allow- ances and per- quisiteS[

Allowances (mchi- ding dearness al- lowance where it is not a pan of the salary under tbe terms of employ- ment) other than" the amount shown in^coL 5 f (b) employee (other than an employee whose income char- geable under the head "Salaries" is Rs. 7)5M 01 less)

Expenditure (other

G A Z E T T E

O F than capftal expen- diture) incurred by thecompany in

I

N D

I

A than capital expen- diture) incurred by the company in providing accom- modation free oi r. nt or at con- cessional rent foi his occupation (Give details)

Wbare a convey- ance has been pro- vided to him by the company, description of the conveyance and the amount of expendittne incurred by the company on its maintenance

providing furniture, appliances and amenities for his personal use ir benefit, free of charge or at a con- cessional charge (Give details)

tainment allowance and other payments in the nature of entertainment al- lowance or amounts reimbursed by the company on ac- count of expenses on entertainments to the extent it results in a benefit, amenity or per- quiate

1 2

3

4

E X T R A O R D

I

6

8 3

7

N A R Y

(

i

P C T

B

-

B

W i Expenditure in-

Amount of dep-

L

" <

i l ) ] Other payments not included in cols. 3 to IO (Give details) [See Note t(b)]

S.No. (Re- peat from Pagei)

In the case of an employee referred to in (b) of col. 2 and in the case of a director or other person or relative referred to ki (t) of col. 2 who is also an employee of the company curred by the company for domestic or per- scnal wrvices provided to him (Give details)

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

Total of the am-

3 to 13 (See Note 3)

ounts in columng 4 to 12

T H E

e

The suras by which the amount in col. 15 exceeds one-fifth of the amount in col. 3 Travelling expenses met by the com- pany on account of his tours abroad to the ex teat that they result in a benefit:-, aounity or perquisite, and fares and conces- sional passages on home leave (Give details) [See Note 100]

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(c* ]

G A Z E T T E

reciation and 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

0

O F

I

II

10

12

I

9

16

13

14

N D

I

A

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

this Annexure]

E X T R A O R D

I

Signature of the Principal Officer Date Seal of the Company.

N A R Y

MOTES : 1.—In the case of any emoloyee 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 moneys or the value of any free or concessional passage

referred to in section io{6)Ci) should be excluded form the amount in column 9,;

' (b) any pavement by way of ?ratuity,any payment referred to in section io;6Xvii) any sum referred to in section 17(1) (vii) or 17(2) (v),tbe amount of any compensation referred to in section 17(3X0 and any payment referred to in sec. 17(3") (ii) or sec. 3&(iXiv)or section 3&(lXv) should be excluded from the amount in col. 11;

(c) any esoeTjiture referred to in sec. 36(i)(bO should be excluded from the amount in col. 12.

2. The assets should be listed in section 3 of this Annexure, indicating, in "achcaBe, the fact that it has been used by the director or other person or

relative.

3. In the case of a director or other person or relative referred to in Nate 1, who is also an employee of th" company, the amounts at (a), (b) and (c)

of Not* 1 should be exhibited separately in the respective colira as but txduitd in arriving at the total in col. 14.

5 9 3

j

ANNBXDSB B

9 4

Sacrum i

Particukm of Capital Gabu

Name of assesses — _ ^ ^ — - — ._ Assessment year 19 19

S.No.

Date of transfer

Name and addres of the transferee

T H

I

Full value of the consideration for which the trans- fer was made Description of asset Date on which the asset became the property of the assess ee

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

s Whether the transferee is connected, direc- tly 01 indirectly, With the assessee and, if so, how connected

Period for which the asset waa held by the assessee imme- diately preceding the date 01 transfer [ S et 2 (4*A)]

G A Z E T T E

6

8

1

9

4

7

3

5

O F

I

N D

I

A

E X T R A O R D

I

N A R Y

f r j

a a

/

U

-

•

0

.

s Capital gain / loss relating to (J-oti to be ittown in

Total of column

10 tola

n d i n k) (See Note below)

S Q

t f l Co3t of any im- provenunts to the capital aswt

capital assets

1 col. 5 is more

Bspenditure incurred

wholly and exclusi-

vely in connection

with the transfer

(Give details)

S.No. (Re- peit from col. i above)

Other than short-term

(f. t. where the period in

than 12 months)

Short-term c*pit*l

•stcu (t.". where

the period in col 5,

is 12 months ot less)

Coat of acquisition or,

ia ;mes carared by sec,

49, $00151, the rain*

which it deemed to b#

the cent of acquisition

Amount in col. 13 of

Section 3 of this

Anaesore)

Others

Lands or buildings

orany rights therein

T H E

I

10

11

16

12

13

15

G A Z E T T E

O F

I

N D

I

A

Net capital gains carried to Part I of the Rstn

Rs.

Rs.

Rs.

m.

E X T R A O R D

I

N A R Y Daw

Signature of the Principal Officer.

S"*l of the Company

NOTB : Wliete the capital gain in respect of any asset is ilainied to be exempt urder section 53, an entry should be made to that effect in the relevant

cd, 14,15 0116.

[1 ' t other cases, the amount of c&plul gain/loss shouki b" dttsominad bj deducting tha amount In col. 13 from the amosm in Col, S end the

tub •nt*r"4 in tim rckrant col. 14,15 or 16.

j

y

j

5 9 6

SBCTJON Z

Statement shotting the eostof acquisition or the vohutcKch is deemed to bt the cost of acquisition of a capiral aisei in certain eases (Sections 493 50 and 51)

Name of assesses

Assessment Year : 19 19

T H E Dsxlprioa of awst

•Where the aasetbecamethepropertyoftheassesaee by purchase

or construction at own expense Dite on wiich the asset b ; ; m; cha property of the assesses

Made ofacquisitionfi.fi. whe- ther by purchase, construction at own expense or by any of the modes specified in section 49) j-

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

G A Z E T T E

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

O F I

2

6 3

4

5

I

N D

I

A

K X T R A O R D

I

N A R Y

[

F A

" T

I I -

8

f t .

Wa^ra th2 i-net b r i l ls the property of the assesses otherwise '

than in tike miaaer referred to in cols. 5 and 6.

^here the asset is one in respect of which depreciation has been obtained

S.Na-

(Re-

S

(See sec. 50)

( i i ) ]

Advance or other moneys received and retained by the assessee in

a bare)

respect of the asset on any pre- vious occasion See sec. 51)

Ifthedatein col. 7 is eirlierthan 1-1-1954 the fair market, value of the asset as on i-r-1954.

Dice on which the asset Coat of acquisi- b : :i n: :'i: 3->j;rry jf tfoi of the m et thi list p^viosu rflier to such last pre- Who acquired it other- vioas owner Wise thai in the maner specified in sec, 49.

T H E

Writ-Lei -do\vn Where the fair mar- value as "adjua- ket value of the asset ted"'Ste Note as on 1-1-1954, is to below) be taken 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 "° "adjnsied" (See Note below).

G A Z E T T E

Cost of acquisition, or the value deemed to be the cost of ac- quisition carried to col. 10 of sec. 1 of this Ajinexurc (Aanouat obtained by sub-tractirg t ne figure in col. 12 from the figure in col. 5 or col. 6, whichever is higher col. 8 or col. 9 whichever is higher col. 10 or col. 11, whichever is higher as the case may be.

O F

I

10 11

1

7 8

13

9

N D

I

A

E X T R A O R D

I

N A R Y

Da"

Signature of the Principa] Officer

Seal of tht Company

N->rs: "Aiiujted" in relation to writtm-dcma vdat or firir m &N valaa, r*"*as WIUM) by a"? t"rmia*I aHowarwi dftltwod oaA*r "o, ja(i)(rfl)

9t iacr"w"d by tcrmioat du"*" iMmi under MC <"(").

3 9 7

-

ANNEXURE F

Dividends

[Set sections 56-59]

IVame wl mcMeo • . Assessment Year: 19——19——

Net amount

Pace value

Remartn

Particulars of shares held

Gross amount

of dividend '

[Set Note 2] SL Ho.

[See Note 1]

of dividend [See Note 2]

of the holding

Amount of tax deducted at source

1

2

6

3

7

4

5

RB.

RB.

Rs.

Rs.

TOTAL .

Gross amount of dividend from column 4

Rs.

D4Auct (a) Amount of commission or remuneration paid to a banker or other person for realising the dividend

Qb) Amount of any other expenditure (other than

Rs.

capital expenditure) incurred wholly and ex- clusively lor earning the dividend

Wot Amount of Dividend Income Carried to Part

I of the Return

Date

Seal of the Company

Signature of the Principal Officer

NOTBI r 1. Any sum deemed to be a 'dividend' under section 2(22)(a), (b), (c), (d), or (e) should also be shown in this column.

_ _ ^^

2. (a) Where any dividend is eligible for rebate or deduction of tax under section ft5 (dividend from new industrial undertaking or hotel), 85B (dividend received by an Indian company from a foreign company on shares allotted in consideration for supply of technical know-how etc.) or section 23J (dividend attributable to agricultural income of the company paying the dividend), please indicate by entering the appropriate section in the Remarks Column 7.

(fr) In the case of a foreign company which has not made the prescribed arrangements for the declaration and payment of dividends within India, if any dividend shown In the above statement is paid by a closely-held Indian company which il mainly engaged in any specified priority industry, such item(s) of dividend may be indicated by entering "Section 8sAj Proviso' in the Remarks Column 7.

(0) Where the company paying the dividend is a foreign company which has not made the prescribed arrangements for the declaration and payment of dividends la 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.

tm. B(H)] THE GAZETTE OF INDIA EXTRAORDINARY 4 99

ANNEXURE 'G'

Computation of Total Income

Name of aasessee — Assessment Year : 19 ——if

Head of Income

Sl. No.

Income/loss Brought for- of the year ward loss of after 'adjust- earlier yoar(s) ment' eligible for

[See Note 2] set off

Income/loss (+)/(-) of the year as shown in Part I of the

[See Note 3]

Return

[5"eNote 1]

Resultant net incomt after ad- justing the loss in col. 3 against In- ( come in col.

4

2

1

6

3

4 5

Rs.

Rs. Rs,

Rs.

1.

X

Interest on securities .

2. Income from house property

X

Profits and gains of business or pro -

3-

lassion— (a) Speculation business (enter

only if the net result is a posi- tive income) [See Note l(a)]

(b) Business, other than specula-

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

X

Income from other sources

4-

TOTAL

Capital gains:

5-

(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 10 specified priority industries, included in the figure against item 3(b) in col. 6

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

TOTAL INCOMH (aa rounded off under section 28 8A) CARRIED TO PART I OP THB

RETURN

Date

Seal of the Company

Signature of tha Principal OnVet.

NOTM: I. (j) In arriving at the figure to be shown in col. 3 against S. No. 3(3), the total of tbe figures of income shown against S. No. 3(a) (i), 3(b) (i) and 3(c) (1) 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 a loss, it should be ignored in arriving at this total.

(6) In arriving at tho 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) (ii), 3(b) (ii) and 3(c) (ii) ol P"rt I of the Return should be taken. If the figure against S. No. 3(c) (ii) of Part I of the Return is a loss, it should be ignored in arriving at this total.

(e) Where there Ii Indian income as well as foreign income under any head of income

the aggregate thereof Bhould 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. 1, 2 and 4, the lottos 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 is income in col. 3 against S. No. 3(a) or 3(b), or both, the negative figure may bo adjusted, as may be found advantageous by the assessec, against cither of the said items, or partly against the one and, as to the balance, against the other.

(6) Any loss against S. No. s(a) in col. 3 should be adjusted against income shown against S .No. 5(b) in the same column, and the result ant income entered against S. No. 5(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. 3(a) or 3(0), as the case may be, only to tho extent of the income, if any, against the respective items in col. 4.

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

4. Where the figure in col.4 in the Hne showing the 'Total' of S. Nos. 1 to 4 is a loss, and the assessed does not desire to have such loss set oft ([against the income shown against S. No, 5 in the said column, such loss should not be taken irtto account in arriving at the 'Grand Total' in col, 4.

ANNEXURE 'H'

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

tlie public are substantially interested.

[See Part VI]

Hw of assesses

Assessment Year: 19 I J ——

1 (a) Was the company owned throughout the previous year by the Government or the Reserve Bank of India? [AnBwer'Ves' or'No'] . . ..

(6) Was 40 % or more of the share capital of the company held during the 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 are '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— (0 the Government, (u) Corporation(s) established by a Central, State or Provincial Act, (n") Company (ies) in which the public are substantially interested and also wholly owned subsidiary (ies) of any such company, (jv) the public (excluding companies in which the public are noi substan- tially interested and directors of the assessee company).

(*) Were the equity shares in the company—

(f) 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(s) of the stock exchange (s).

OR

Freely transferable by the holder to other members of the public ? [Answer 'Yes' or 'No']

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