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REGISTERED No. D. 221

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 67J NEW DELHI, THURSDAY, FEBRUARY 29, 1968/PHALGUNA 10, 1889

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 29th February 1968

S.O. 813—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) These rules may be called the Income-tax (Amendment) Rules, 1968. (2) They shall come into force, on the 1st day of April, 1968. 2. In rule 8A of the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in clause (d), the words, letters and figure "and a statement of particulars in Form No. 5A" shall be added at the end.

3, In the principal rules, in sub-rule (1) of rule 12, for the proviso, the fol- lowing proviso shall be substituted, namely:—

"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 by such person)—

(i) does not exceed fifteen thousand rupees, or (ii) exceeds fifteen thousand rupees but does not include any income chargeable to income-tax under the head "Profits and gains of business of profession, the return of income may be furnished in Form No. 3 and shall be verified in the manner indicated therein."

( 151)

j ,2 1 H£ GAZETTE OF INDIA EXTRAORDINARY (P>RT I I-

4. In Appendix II to the principal rules,—

(i) for Form Nos. 1, 2 and 3, the following Forms shall be substituted, namely:—

"RETURN OF INCOME

FORM No. i (for Companies only) G.I Jt. No Income-tax Act, 1961

(To belfilted )n by Income-tax Office¹;

[Rule i3(iXa)]'

ASSESSMENT YEAR 19 T9 Previous Yenr(n) ending.

Name Address Whether resident or non-resident

PART I—STATEMENT OF TOTAL INCOME (See Note 1)

Head of Income

tAmount of In* come or low (if none, write •NONE') Show toss in Rei Ink Rs.

Interest on securities : (a) Government Securities

•1

(b) Others

2 Income from House Property (Annexure A)

Profits & Gains of Business or Profession :

Any income or loss from (a) Own business or profession (Anncxurc B) speculation business *fb) Share in the profits of a registered firm, should be stated sepa- *(c) Share in the profits of an unregistered rately against (a), (b"i & firm or association of persons. CO ' ' ;

Capital Gains : (a) relaing to short-terms capital assets.

•4

(h) relating to other capital assets :

(i) lands or buildings or any rights there-

in ; (,ii; others :

Income from other (a) Dividends

Sources: (b) Interest, other than interest on securities

Aggregate of items 1 to 5

Deduct: Brought forward loss of earlier year(s) (Sit Note 2)

(a) arising in speculation business . . . . Rs. fb) arising in any other business or profession . . Rs, (c) relating to short term capital assets . . . R". (d) relating to other capital assets . . . . Rs.

BALANCE

Less : Amount deductible under Chapter VIA (as shown in Part II)

TOTAL INCOME .

fin the case of a resident company, particulars of foreign Income if any should be given separately under each head.

*Give details on a separate sheet. See page 156 for Notes.

ma. Hhi\ 1 3s " n k rm OF INDIA EXTRAORDINARY 153

PART II—DED UCTIONS UNDER CHAPTER VI-A OF INCOME-TAX ACT, 1961.

Qualifying amount

(See Kate 3)

Gross Amount

Amount of Deduction

Rate % of deduction

* ] Donations (Sec. 80G)

2 Profits & Gaius tram new indus- trial undertakings) mainly cm- ploying displaced persons, etc. (Sec. 80H)

3 Profits & Gains from priority

Industries (Sec. Sol)

4 Profits & Gams from newly estab- lished industrial undertakings or thops or hotel business (Sec. 80J)

5 Dividends from new industrial undertakings or ships or hotels business (Sec. 80 K)

6 Dividends from Indian companies

(Sec. 80L)

7 Dividends rcceiv cd :—

(a) by a foreign company :

(i) from a closely-held Indian company mainly engaged in any specified priority industry

(ii) from any other domestic

company;

(b) by a domestic company from any domestic company (Sec. 80M)

8 Divid:nda received by Indian com- pany from certain foreign corn- panic* (Sec-. 80N)

0 Royalties etc., received by Indian company from certain foreign companies (Sec. 80 O)

*io Any other deduction

11 Total Deduction (Carried to Part I)

•Give detail;.

I j4

T HE G A Z E T TE OF I N D IA E X T R A O R D I N A RY

I P AW •

PART III—STATEMENT OF SUMS INCLUDED IN TOTAL INCOME IN RESPECT OF WHICH INCOME TAX IS NOT PAYABLE OR WHICH QUALIFY FOR REBA- TE OR DEDUCTION OF INCOME TAX.

Particulars

Amount I Interest on tax free securities (Sec. 86A)

Proportionate part of the tax payable by a registered firm. (Sec. 86(iv))

•z

*3 Shire in the income of an unregistered firm or an association of personsj where tax has been paid or is payable by such firm or association (Sec. 86(iii) & (v))

Dividends attributable to agricultural Income of the company paying; the divi-

dends (Sec. 235)

Other items., if any.

Total of Part III

PART IV—SUMS NOT INCLUDED IN PART I AND CLAIMED TO BE NOT TAXABLE

Particulars

Amount Reason why not taxable

Total of Part IV

PART V—STATEMENT OF TAX DEDUCTED AT SOURCE AND ADVANCE TAX PAID

Tax deducted at source

(Tax deduction certificates to be attached)

Advance tax paid

Particulars

Amount of tax

Date of Payment

Amount

Interest on Securities

Other Interest

Dividends

Any other Income .

TOTAL .

TOTAL

•Give Details.

Sio. Br(fff] THE GAZETTE OF INDIA EXTRAORDINARY 155

PART VI—STATEMENT OF PARTICULARS RELEVANT FOR DETERMINING THE RATE OF TAX APPLICABLE, ETC.

Amswcr *Ye"' or TSTo⁷) I Is t he c o m p a ny :—

(i) an I n d i an c o m p a ny ^ . . . . . . . ..

(ii) a foreign c o m p a ny w h i ch tiaa m a de t he p r e s c r i b ed iirran:;erne n ts for t he

d e c l a r a t i on a nd p a y m e nt of d i v i d e n ds w i t h in I n d ia '

( If t he a n s w er to e i t h er (i) or (ii) is ' Y e s ', t h en furnish f u r t h er p a r t i c u l a rs

as in I t e ms 2 to 4),

2 la t he c o m p a ny o ne in Which t he p u b l ic a re nubstantially i n t e r e s t ed or a s u b-

sidiary c o m p a ny r e f e r r ed to in S. 108 (b) ? . . . • .

(If t he a n s w er i s ' Y e s ', t h en a t t a ch a s t a t e m e nt in s u p p o rt of t he c l a i m j.

If t he a n s w er to i t em (2) is ' N o ', does t he c o m p a ny c l a im to be c o v e r ed b y—

(i) s e c t i on 104(2X1") ?

(ii) a ny notification Issued u n d er s e c t i on 104(3) ? . . ..

(iii) s e c t i on io4(4)(a) ?

(iv) section iO4(4Xb) ?

. . . . > . ..

la t he c o m p a ny :—

(i) a B a n k i ng c o m p a ny ? . . . . . ..

(ii) an I n v e s t m e nt c o m p a ny ? . . . . . ..

( i i i; a T r a d i ng c o m p a ny ? . . . . . ..

PART VII^STATEMENT OF OTHER PARTICULARS (Nat to be ftll*d in by a fomgn company which has not made tlw prescribed arrangements for the declaration and pay- ments of dividend* within India),

Date of tho annual general meeting before which the accounts of the previous (")

year were laid

. . . . . . . ..

Amount of the dividend declarcd,if any, atthc above general meeting •

Ra.

Amounts of dividends on equity capital, declared or distributed by the com- (c)

pany during the previous year :—. , . .

1 i) declared at the general meeting held 01;

Rs.

Rs, (iii) distributed as dividend within the meaning of Sec. 2(22)(a), (b)3 (c)

Rs.

or (d") on

Total of (i), (ii) and (iii) •

Rs.

156 THE GAZETTE OF INDIA EXTRAORDINARY (AM- I I-

VERIFICATION

I,.

son/daughter/wife of Shn (Name in block letters)

being the of—— —

(Name of father/husband) . (designation)

• — —— • solemnly declare that to the best of my (Name of Company)

knowledge and belief the information given in this Return, and the Annexurcs 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 I"?t day of April, 19.

I further solemnly declare that no other income accrued or arose 'J 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. 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. Officer

Place— —-

IMPORTANT.—Before signing the verification, the signatory should mtlsfy himself that the Return is correct and complete In every respect.

(Any person making a false statement in the Return shall be liable 10 prosecu- tion under section 277 of the Income Tax Act, 1961 and on conviction be- punish- able with rigorous Imprisonment which shall not ordinarily be for lem than six months' and may extend to two years).

Non*—1. If the Income ot any other person da includlble In the total Income under section 60, 81, 62 or 63 of the Income-tax Act, 11*61, such income should also be shown separately in this Return under the appro- priate heads.

2. Brought forward loss under each category may be claimed for set off only to the extent of income of the same category included in the aggregate of items 1 to 5.

3. Where a deduction under Chapter VIA has been claimed in the- Return of " firm or association of persons, no deduction in respect of the same item shall be claimed In the Return of any partner if the firm or member of the association.

4. All applicable entries and annexures must be filled in. I? :he apace is not sufficient, please attach separate aheeta

ANNKXURE A—INCOME FROM.HOUSE PROPERTY

S E C

Deduction from ann- Net

Deductions ]

'Address of property '

( i i ) ]

ual value

amount •

Serial No.

Net | income/ loss Gross qnrmaT value

Repairs

Interest

(Col. 6 Local Allowance taxes for newly

Total (Col. 7 to

(Col. 3 fiunus Cols. 4&

Collection charges

10)

constru-

mil 11/ s Col. 11)

on borrow- ings

Other items (Give details) '

cted property

T H E

12 3

4 5

G A Z E T T E

O F

N D

E X T R A O R D

N A R Y

*AJso Btate where relevant—

Aggregate income/loss . . .. Rs

Leo share of other co-o\vnur(s) . . Ry

(a) d a t e, if co-owner ;

1 5 7 (i) proportion tun used for own business or profession.

Balance carried to Part I of the return . Rs

I58 THE GAZETTE OF INDIA EXTRAORDINARY [PA"T I I-

ANNEXURE "B"—SECTION 1

Particulars ofProfits and Gains of'business or Profession/or theprcvious year ended 1 9 . . ..

I Profit or Loss as per Profit and Loss Account

Rs.

(Show Loss In Red Ink)

A D D: ( D e d u ct if t he a b o ve figure is a l o s s) . . . . ..

2 Losses of earlier years debited in Profit & Loss Account . . ..

Any taxable profit or gain not included above . . . . ..

Reserve for bad debts . . . . . . . ..

Reserves or provisions, not deductible . . . . .

6 Interest credited to reserve or other funds

„

Expenditure of t he nature of charity or presents

S Income T a x, Surtax, Penalty, etc

Expenditure of the nature of Capital Expenditure

10 Depreciation and/or development rebate. . . . . ..

IT Repairs and insurance of assets used partlv for the purpose of the business or

profession

12 Expenditure on scientific research or sums paid to any scientific research

association^ etc,

. . . . . . . ..

Sums not deductible u/s 40 (a)

•r4 (a) Expenses and allowances referred to in Sec. 4o(c) (i) & (ii)

(h) Expenditure not deductible u/s 40 (c) fiii)

Entertainment expenditure exceeding the amount admissible u/s 37(2) or (2A)

•16 Expenditure on advertisements, guest house or travelling exceeding t he amount admissible u/s37(3) read with Rule <5A, 6B, 6C and 6D of the Income T ax Rules, 1962 . . .

Other Expenditure not allowable u/s 28 to 44

*I7

18 LOSM on sale of assets as per books

Amount of profits chargeable under :—

*I9

(a) Sec. 41(2) (Terminal charge)

!;b) Sec. 4 l ( i )3 (3) and (4)

20 Amount allowable to a Banking Company u/s 20 (1)

Total of items 1 to 20.(carried forward) .

*Glvc details.

Sic. 3(ii)] THE GAZETTE OF INDIA EXTRAORDINARY 159

21 Total of items 1 to 20 brought forward

Rs.

DEDUCT : {Add, if the above total is a negative fiirure)

2.2 Income chargeable under heads other than "Profits & Gains of business or profession*', or which has already been charged to tax in an earlier year .

23 Repairs and insurance of assets used partly for the purposes of the business or profession claimed as reasonable under Sec. 38(2) excluding amount referred to in Sec. 40(c)

. . . . . . . ..

Expenses and allowances (other than depreciation), claimed as reatonable

under Sec. 40 (c) (i) & (li)

Admissible depreciation including unabsorbed depreciation

2
Terminal allowance under Sec. 32 (iii)

Rehabilitation allowance (Sec. 33B,) . . . . . ..

27

Expenditure on Scientific Research or sums paid to scientific research associa-

tion etc., to the extent admissible under Sec. 35

Part of capital expenditure on patents or copyrights admissible under Sec. 35 • 29

A.

3O Part of capital expenditure on family planning admissible under Sec. 36(i)(ix'

Profit on sale of assets as p er books . . . . . ..

31

Any other allowable expenditure

• 32

Development rebate admissible (Sec. 33)

*33

Development allowance admissible (Sec, 33A)

34

(Give details in Form N o. 5A)

Total of items 22 to 34

35

Net profit (or loss) carried to Part I of the return

36

(items 21 minus item 35).

•Give details on a separate sheet.

NOTES.—1. If the accounts are kept on the mercantile system of accounting, a copy

of the Manufacturing account or Trading Account, the Profit and Loss Account and Balance Sheet mutt be attached. If the accounts are kept on any other system, a description oi' the system should be given and a copy of any statement which corresponds to the Profit & Loss Account and Balance Sheet in the mercantile accounting system must be attached.

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

2. Where the company has speculation business, besides any other busi- ness or profession, particulars as at items 1 to 36, so far as may be relevant, should be furnished .separately in respect of the specula- tion business.

ANNJEXURE E—SECTION 2—DEPRECIATION AND DEVBLOPiMENT REBATE

Statement of particulars required under Section 34(1)

Remarks Description of assets (0 Written

Develop- ment Re- Serial No.

Initial/ Normal Deprecia-

Net \ Amount j (Col. 3 !

Period of •user (Classify

tion claimed

ar, A, B or O*

minus Col. 5) ;

Prescrib- ed rate of depre- ciation (%)

down value of existing assets; (I'I) Actual cost of additions, al- terations, etc.

Written down value of assets, sold, dis- carded etc.

T H E

Extra Shift allowance claimed, Double Shift/ Triple Shift

bate i daimed (also in- dicate rate .'oJ

No. of days worked, Double Shift only/ Triple Shift *•

G A Z E T T E

O F

N D

E X T R A O R D

Total

N A R Y

**Piefix D.S./T.S. Total Depreciation claimed [Col.

*A—1S0 days or more.

' ^ • P r e f ix I . D . / N . D. 9 + T O)

. . . , Rs

[ B—More than 30 days but less than 1S0 'Jays. C—id days or l"s.

Total Development rebate claimed

P A W

rCol. 11) . . . . Rs

I I -

3*L3{li>. THE GAZETTE OF INDIA EXTRAORDINARY 161

ANNEXURK C

Rvturn of Particulars to be furnislied under section 133 of the Income-tax Act, 196 c

Particulars of persons to whom the Company has paid in the previous ycar(s) Tent, interest, commission, royalty, brokerage or annuity (not being an annuity taxable under the head "injuries") exceeding Rs. 400 and particulars of all such payments.

Name and Address

In the case of payment to Nature of payment

Amount paid

Date of payment

SI. No.

ofpayee

a non-resident, whether tax has been deducted at source and paid to the credit of the Central Oov- ernment.

NOTES.-—1. Where the Company is a trustee or agent, particulars of tiie names and addresses of the persons for or of whom the company L* trnsT.ee or agent should be furnished separately.

2. A dealer, broker or agent of any person concerned in the mav.-.igement of a Stock or Commodity Exchange should furnish a statement of the names and addresses of all persons to whom he or the Exchange has paid in the previous year any sum or aggregate sums (a) in excess of Rs. 2,000 by way of "difference" and, (b) in --^cess of Rs. 10,000 in connection with the transfer, whether by way of sale, exchange or otherwise, of assets, or on whose behalf or from whom he or the Exchange has received any such sum, together with parti- culars (amount, date etc), of all such payments and receipt:;

3. "Where the Company is not one in which the public are sabst-mtially interested or a subsidiary company of such a company (where more than 50 per cent of the equity share capital of the subsidiary com- pany is held by the holding company), a statement of the gifts made by the Company during the previous year(s) should be furnished separately, giving the name(s) and addresa(es) of the donee(s). date(s) of gift(s), particulars of property gifted and its vilue.

RETURN OF INCOME

FORM NO. 2 'for persons other than Companies) G.I.R. No

Income-tax Act, IQ6 r

(To be filled in b' ''.icome-tax

Office)

[rule la(iXb)]

ASSESSMENT YEAR 19 19 Previous year(s) ending

Name Address : Office

Residence Status (Individual, H.U.F., etc.) 'Whether resident/resident but not ordinarily resident/non-

FOR RESIDENT INDIVIDUALS ONLY resklent

Whether married 'res/No.

No. of dependent chil-

dren

162 THE GAZETTE OF INDIA EXTRAORDINARY [VJIXI H-

P A RT l—Stattmtmt of Tota Income ( S*e Not* i)

H e ad of I n c o me

A m o u nt of i n- c o me or l o ss ( if none, write NONE'). Show OBS in Red Ink.

Rs.

i Salaries ( A n n e x u re I) . . . . . . . ..

*2 I n t e r e st on S e c u r i t i es :

(a) G o v e r n m e nt S e c u r i t i e s. . . . . . .. (b) O t h e rs

3 I n c o me f r om H o u se P r o p e r ty ( A n n e x u re 2)

4 Profits & G a i ns of B u s i n e ss or P r o f e s s i on :

A ny i n c o me or loss f r o m" (a) O wn business or p r o f e s s i on ( A n n e x u re 3) s p e c u l a t i on business * ( b) S h a re in t he profits of a r e g i s t e r ed firm, s h o u ld be stated sepa- * (c) S h a re m t he profits of an u n r e g i s t e r ed firm rarely against ( a ), ( b) & or association of p e r s o ns or b o dy of (c)

individuals.

•5 Capital G a i ns :

00 R e l a t i ng to s h o rt t e rm capital assets , . . ( b) R e l a t i ng to o t h er Capital assets :

("') lands or b u i l d i n gs or a ny rights t h e r e in . . .. ((V) others

*6 I n c o me from o t h er S o u r c es :

. . . . . . ..

(a) D i v i d e n ds (b) I n t e r e st o t h er t h an i n t e r e st on s e c u r i t i e s. . . .. (c") A n n u i ty or c o m m u t ed value of a n n u i ty ( S e c. 2 8 0 - D) ( d) O t h er items

• .

7 Aggregate of items 1 to 6

Deduct : B r o u g ht f o r w a rd loss of earlier yeai(s) (See N o te 2)

(a) arising in speculation b u s i n e ss . . R e. (t>) arising in a ny o t h er b u s i n e ss or profession „ (c) r e l a t i ng to s h o rt t e rm capital assests . , , . .. (d) r e l a t i ng to o t h er capital assets . . , , . ..

BALANCE

Less :

(0 Amount deductible under Chapter VIA (as Bhown in Part II) . (ii) Amount of Annuity Deposit to be deducted under Sec. 280-C

(See Note 3)

T O T AL I N C O ME . . ..

fin the case of a resident assessee, particulars of foreign income, if any,

shoul^ be given separately under eaich head.

•Give details on a separate sheet. See Page 166 for Notes.

SKO. Sj(|i>] THE GAZETTE OF INDIA EXTRAORDINARY 163

PART ri— DEDUCTIONS UNDER CHAPTER VIA OF INCOME TAX ACT, 1961

Qualifying

Amount of deduction

Rate % of deduction

amount 1

(See Note 4)

Gross amount

• 1. Life insurance premiums, contri- butions to provident fund, etc. (Sec. 80C) .

2, Expenditure on medical treatment of handicapped dependents (Sec. S o D) . . ..

Payments for securing retirement

annuities CSec. 80E) .

4. Educational expenses incurred by a resident non-Indian citizen . . (Sec. 80F)

Donations (Sec. 80G)

• 5.

Profits and gains from new indus-

trial undertakings mainly employ- ing displaced persons etc. (Sec. 80H) • . . •

Profits and gains from newly es- tablished industrial undertakings or ships or hotel business (Sec. 80J) • . . ..

8. Divideodl from new industrial un- dertakings or ships or hotel business (Sec. 80K).

Dividends from Indian companies

(Sec. 80L) . . ..

1 0. Income of co-operative societies

(Sec. 80P) . . ..

I I. Dividends from co-opcrtaive

societies (Sec. 80Q)

1 2. Remuneration from certain foreign sources in case of professors, teachers, etc. (Sec. 80R) .

13. Compensation for termination of managing agency etc. (Sec. 80S)

Long-term capital gains relating to

(i) Lands or buildings or

any rights therein

(ii) Other assets . (Sec. 80T)

Any other deduction .

*I5.

Total deduction (Carried to Part I)

Ifi4 THE GAZETTE OF INDIA EXTRAOMMNAHV ffMtr n-

P A RT III—Statement of sums included in total tncotusin respect of which income tax is not payable

or which qualify for rebate or deduction of Income-tax.

Amount Particulars

I. Interest on tax free securities (Sec. 86A) . . . . . ..

* 3. Proportionate part of the 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, as- sociation or body [Sec. 86(iii) & (v)]

Dividends attributable to agricultural income of the company paying the divid- A-

ends (Sec. 235) . . . . . , , . , ..

Other items, if any . . . . , . . , . ..

T O T AL of Part I II

•Give details.

PART IV—Sums not included in Part I and claimed to hi not taxable.

Particulars

Amount Reason why not taxable

TOTAL of Part IV ,

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

Tax deducted at source ( T ax deduction Advance tax paid

certificates to be attached)

Amount Particulars

Date of payment

Amount of tax

Salaries

Intwest on securities

Other Interest , . • .

Dividends . . . ..

Any other income . . ..

T O T AL .

T O T AL . . ..

PART VI—Statement of Particulars Required under Section 139(6).

(a) Particulars of business or profession carried on by the asse""ee

(0 Address of the principal place of business or profusion in India

(fi) Addm>8(es) of Branch(es) . . . . . . . . ..

SEC S (ii) ] THE GAZETTE OF INDIA EXT&AOftDJMAftlf

l6$

(6) To he filled in by Hindu undivided families Only

Remam Namcs of members of the family at the end of the pre-

vious year, who were entitled to claim partition

si. No,

Relation- ship to 'Kftrta'

Age at the end of the previous year

(c] To be completed where the asscssee is a firm/association of persons/body of individuals/ partner in a firm/member of association or body/minor admitted to benefits'of partnership.

Name and address of the firm association of persons'body of

Address of the partner/minor member

individuals

Name of each partner/minor member

Extent of share in the' flrm/assocation of persons/body

State if any partner/minor is spouse/child of any other

partner

IMPORTANT:—Where the assesscc is a firm seeking continuance of registration granted for an earlier assessment year, a declaration should be attached in Form No. 12.

VERIFICATION

son/daughtcr/wifc of Shri

(Name in block letters)

, solemnly declare LITUC to the best of my know-

(name of Caihur/husband)

led^c and belief the information given in this Return and the Annexurcs and Statements accom- paning it is correct nnd complete, that the amount of total income and other particulars shown are truely 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 me/ the family/the firm/the co-operative society/the association of persons/the body of individuals/ the local authority,' during the 8"ld previous years and that I/the family/the firm/the co-operative society /the association/the body of individuals/ the local authority/ had, during tht said previous years, no other source of income.

I further declare that I am making this return in my capacity as of and that I am competent to make this Return and verify it.

Date

Signature.

PUti

IMPORTANT—Before signing the verification, the signatory should satisfy himself that the re- turn is correct and complete in every respect.

(Any person making a false statement in the Return shall be liable to prosecution under Bection 277 of the Income-tax Act, 1961 and on conviction bo punishable

166 THE GAZETTE OF INDIA EXTRAORDINARY [PART n-

with. rigorous imprisonment which shall not ordinarily be for less than six months and may extend to two years).

Nona.—1. If the Income of any other person is includlble in your total income under the provisions of sections 60, 61, 62, 63 or 84 of the Income- tax Act, 1961, such income should also be shown separately in this return under the appropriate heads.

2. Brought forward loss under each category may be claimed for set. off only to the extent of income of the same category included in the aggregate of items 1 to 6.

3. Attach the counterfoils of Annuity Deposit Certificates and Statement

in Form 'E' under the Annuity Deposit Scheme, 1966.

4. Where a deduction under Chapter VIA has been claimed in the Return of a firm, association of persons or body of individuals, no deduction in respect of the same item shall be claimed in the Return of any partner of the firm or member of the association or body.

5. All applicable entries and annexures must be filled in. If the space

is not sufficient, please attach separate sheets.

ANNEXURE i—SALARIES

i. Name and address of the Employer

Rs.

2. Total amount of salary, wages, etc., including cash allowance to the extent these arc not exempt from tax . . . . . . . ..

3. Value of accommodation provided by the employer free of rent or at a conces- sional rent

4. Perquisite value of motor cur or other conveyance provided by the employer ,

5, Perquisite value of domestic or personal services etc., provided by the employer.

6. Any other amount chargeable under'Salaries'(Give details)

GROSS SALARY

Rs.

Deduct expenditure or.

•Details regarding conveyance

(a) Books [Sec. 16(1)]

Make HP

(b) Entertainment [Sec.

Date of purchase

16 (ii)] .

(rf) Conveyance* [Sec,

Rs.

. xpcndlture on Maintenance .

I6(iv)]

(e) Other items, if

Amount representing Wear and Tear

any (give details)

Rs.

[Sec. T6(V)]

Rs.

TOTAL.

Net income under the

Amount attributable to user for Rs.

head 'Salaries'

employment

*An employee receiving conveyance allowance is not entitled to this deduction.

i ANNEXURE 2—INCOME FROM HOXJSE, PROPERTY

(

1 1 Deductions

Net |

•Address of property

Deductions

Net

;

from

value

Amount

Serial No.

income/ loss Gross annual value

Repairs

Total Local Taxes

Collection Interest charges on borrow-

ings

(Col. 7 to IO^I

(CoL 6 minus Col. 11)

(CcA. 5 mums Cob.4& 5)

Allow- ance for newly cons-

Othet items (Give details)

T H E

1 strncted 1 property/

setf- occupied property

G A Z E T T E

—

O F

1 i 2

8 9

N P

. i

•

E X T R A O R D

N A R Y

Aggregate income/loss . . .. Rs

Less share of other co-owaer(s) . , , Rs-

*AU" s a t e, where relevant—

Balance carried to part I "f tfcc return . Rs

{") share, if co-owner.

(ii) proportion not used for own business or profeesioa.

1 6 7

jfig THE GAZETTE OF INDIA EXTRAORDINARY [PART 1 1-

ANNEXURE 3—SECTION 1

Particulars of Profits and Gains of Business or Profession for the previous year ended

R s. I Profit or losa as p et profit a nd loss account . . . . . ..

( S h ow loss in R ed I n k)

ADD (Deduct, if Vhe above figure is a loss)

2. Losses of earlier years debited in Profit & L o ss Account . . ..

A ny t a x a b le profit or gain n ot included above

R e s e r ve for b ad d e b ts . . . . . . . . ..

Reserves or provisions! n ot d e d u c t i b le . . . . . ..

I n t e r e st c r e d i t ed to reserve or o t h er funds

E x p e n d i t u re of t he n a t u re of charity or ^presents

I n c o m e - t ax , p e n a l t y, etc

E x p e n d i t u re of t he n a t u re of C a p i t al e x p e n d i t u re

D e p r e c i a t i on a n d / or d e v e l o p m e nt rebate

1 0.

1 1.

R e p a i rs a ai i n j u r a nt of asssts u s ed partly for t he p u r p o se of t he business oL profession . . . . . . . .. . ..

E x p e n d i t u re on scientific research or s u ms paid to any scientific research associa-

t i on e t c. . . . , . . . . , , . ,,

S u ms n ot d e d u c t i b le u n d er Sec. 40(3)

Interest, salary., commission etc., to p a r t n e rs [Sec. 4o(b)]

14.

E n t e r t a i n m e nt expenditure exceeding t he a m o u nt admissible u n d er Sec. 37C2A)

\5-

" 1 6. E x p e n d i t u re on advertisements, guest house or travelling exceeding t he a m o u nt admissible u n d er Sec. 37(3) read with Rules 6 A, 6H, 6C a nd 6D of t he I n c o m e- t ax R u l e s, 1962

O t h er e x p e n d i t u re n ot allowable u n d er Sec. 28 to 44

*I7-

L o ss on sale of assets as p er books . . . . ..

18.

A m o u nt of profits chargeable under—

• 1 9.

(a) Sec. 41(1) ( T e r m i n al charge) . . ..

(6) Sec. 4 i ( i ) ( 3) & (4)

2 0. T o t al of items 1 to 19 (carried forward)

*Givc d e t a i l s.

S i c. 3 (ii) ] T HE G A Z E T TE OF I N D IA E X T R A O R D I N A RY 1 69

T o t al of i t e ms 1 to 19 b r o u g ht f oi .vard . . . . . ..

2 0.

Deduct (Add, if t he a b o ve t o t al is a n e g a t i ve fife i r e)

2 1. I n c o me c h a r g e a b le u n d er t he h e a ds o t h er t h an " P r o f i ts a nd g a i ns of b u s i n e ss or p r o f e s s i on , or w h i ch h as a l r e a dy b e en c h a r g ed to t ax in an e a r l i er y e ar .

2 2. R e p a i rB a nd i n s u r a n ce of a s s e ts u s ed p a r t ly f or t he p u r p o s es of t he b u s i n e ss or p r o f e s s i on c l a i m ed as r e a s o n a b le u n d er S e c. 3 8 ( 2) . . . ..

A d m i s s i b le d e p r e c i a t i on " i c l u d i ng u n a b s o r b ed d e p r e c i a t i on . . ..

23-

T e r m i n al a l l o w a n ce u n d er S e c. 3 2 ( i ) ( i ")

. . . . ..

• 2 4.

25. R e h a b i l i t a t i on a l l o w a n ce ( S e e. 3 3 B) . . . . . . ..

•2fi. K x p e n d i i j re on scientific r e s e a r ch or si ns p a id to s c i e n t i f ic r e s e a r ch a s s o c i a t i on e t c. to t he e x t e nt a d m i s s i b le v i d er S e c. 35 . . . . . ..

27. P a rt of C a p i t al e x p e n d i t u re on p a t e nt or c o p y r i g h ts a d m i s s i b le u n d er S e c. 3 5A

28. P r o f it on s a le of a s s e ts as p er b o o ks . . . . . . ..

A ny o t h er a l l o w a b le e x p e n d i t u r e. . . . . . . ..

•29

D e v e l o p m e nt r e b a te a d m i s s i b le ( S e c. 3 3)

•30

D e v e l o p m e nt t ' l o w a n ce a d m i s s i b le ( S e c. 3 3 A) ( G i ve d e t a i ls in f o i /n N o. 5 A ).

31.

T o r al of i t e ms 21 to 31

32-

33- N ET P R O F IT ( OR L O S S) C A R R I ED TO P A RT I OF T HE R I / JT J ,N ( I um 20 minus i t em 3 2)

*Givc details on separate sheet. NOTES.—1. If the accounts are kept on the mercantile sysi ,m of accounting a CODV of the Manufacturing Acco int. or Trading Account, the Profit and Lo. - Account and Balance Sheet taunt be attached. If the account are it o~> any other sy:,l,cm, description of the system should be given end copy of any statement which corresponds to the Profit and Loss Account and Balance Sheet in the mercantile accounting system must be attached.

If the accounts are. audited, a copy of the Auditors' Report together -with a statement of audited accounts should be attached.

2, Where the assessce has speculation business, besides any other busi- ness or profession, particulars as at item 1 to 33, so far a.3 may "be relevant, should be furnished separately in respect of the speculation business.

ANNEXURE 3—SECTION 2—DEPRECIATION AND DEVELOPMENT REBATE

y "

Statement of particulars required under Section 34(T).

Remarks Description of Assets (0 Written

SI No.

Net Amouct (Col. 3

Prescribed rate of depre-

Col. 5}

Initial/ Normal Depre- ciation claime<

Period of User (Classify as A,B or Q*

ciation <%)

lown value of jdstin? assets; n) Actual cost )f additions, al- terations etc.

Written down value of assets sold discarded etc.

Develop- . ment Rebate claimed (also indicate rate %)

No. of days Worked Double Shift only/ Triple Shift**

T H E

Extra Shift allowance claimed^ Double Shift/ Triple Shift**

[

]

G A Z E T T E

O F

N D

E X T R A O R D

N A R Y

TOTAL

(

Total Depreciation claimedJ(CoL 9+10) Rs

P A

" T

Total Development Rebate claimed (Col. 11) RE

I I - *A-i8o days or more. B-More than 30 days but less than 180 days. C-30 days or less. •*PreSx"D.S. T.S. (ajPrefix I.D. N.D.

SIM. S (il) ] THE GAZETTE OF INDIA EXTRAORDINARY I 7 J

ANNEXURE 4

Return of particulars to be furnished under Section 133 of the Income-tax Act, 1961-

Statement of names and addresses of all persons to whom the 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") exceed- ing Rs. 400 and particulars of all such payments.

In the case of Name and address of

Date of payment

Nature of payment

Amount paid

the payee

Serial No.

a payment to a non-resident whether tax has been de- ducted at source and paid to the credit of the Central Go- vernment.

6 2

NOTES-- -1- Where the assessee is a trustee, guardian or agent, particulars of the names and addresses of the persons for or of whom the assessee is trustee, guardian or agent should foe furnished separately.

2- A dealer, broker or agent or any person concerned in the management of a Stock or Commodity Exchange should furnish a statement of the names and addresses of all persons to whom he or the Exchange has paid in the previous year any sum or aggregate sums (a) in excess of Rs. 2,000 by way of 'differences' mid, (b) in excess of Es. 10,000 in connection with the transfer, whether by way of sale, exchange or otherwise, of assets, or on -whose behalf or from whom he or the Exchange has received any such sum, together with particulars (amount, date etc) of all such payments and receipts.

3. A statement of gift(s) made by the assessee during the previous year(s) should be furnished separately, giving name(s) and addresses of the donee(s), date(s) of gift(s), particulars of property gifted and its value.

RETURNIOFI INCOME

G.I.R. No (To be filled in by Income-tax Office) FORM N O. 38 Tncorne-Tax Act, 1961 RULE [12 (1) (&)]

[For persons other than Companies, Co-operative Societies and Local

Authoritiesi whose (u) total incom". does not. exceed Rs. 15,000 or (h) tore!

ncome exceeds Ri, I ^,000 but who hive no income under the head 'profits

and Gains of Business or profession '.

ASSESSMENT YEAR 1 9 . . .. 19 Previous Year(s) ending Name Address : Office

Residence Status (Individual, IIUF, etc.) Wli:Llur reiideiit/rcsidcnC but not ordinarily resident/non-resident . . . , .'

For Resident individuals only

Fo'r Resident HUFs only

No. of members entitled to claim

partition

No. of minor co-parceners Whether married . Yes/No. No. of dependent children Dependent parent/ Grand parent . . Yes/No.

supported by the family

172 THE GAZETTE OF INDIA EXTRAORDINARY [PA*T I I-

PART I—Statement of Total Income *

\ Amount of income 01 LOSB (if noncj writ 1 NONE)

Rs.

Head of Income

Salaries (Annexure 1)

2. Interest on Securities : Gross Rs. Deduct : Collection charges . , . . . Rs. Interest on borrowings Rs Rs.

Income from House Property (Anncxure 2)

4. Profits and Gains of Business or Profession:

(a) Own business or profession [attach copy of Trading A/c,

P & L A/c and Balance Sheet and Statement showing computation of income].

(£>) Share in the profits of a registered firm.

of persons or body of individuals.

[Any income or loss from speculation business should be stated

separately against (a), (b) and (c)].

Capital Gims : (a) Relating to short-term capital assets

(ft) Relating to other capital assets

6. Income from other Sources :

(a) Dividend : Gross Rs.

Deduct : Collection Charges Rs. Interest on borrowings Rs. — — Balance

,Ks.

(b) Annuity or commuted value of

annuity (Sec. 280-D) Rs.

Aggregate of items 1 to 6

Deduct : Brought forward loss of earlier ycar(s) (Sec. 72 to 78)

BALANCE

L ess : (i) Amount deductible (Sec Part II) Rs. (it) Amount of Annuity deposits (Sec. 280-O) Rs.

TOTAL INCOME

*If thf! income, of any other person is includable In your total income under section 60, 61, 62, 63 or 64 of the Income-tax Act, 1961, such income should also be shown separately in this Return under the appropriate heads.

fin the case of a resident assessee, particulars of foreign income, if any, should be given separately under each head. §GIve details on a separate sheet.

SEC. 8(ii)] THE GAZETTE OF INDIA EXTRAORDINARY 173

PART Il.— Dniuctiom under Chapter VIA of Income-Tax Act, T961.

Amount of deduction

Rate % of deduction

Gross amount

Quali- fying amount

—

——

§1. Life insurance premiums,

contributions to Provident funds etc. (Sec. 80C)

§2. Durations (Sec. 80G)

3. Dividends from new indus- trial undertakings (Sec. SoK)

4. Diviienda from Indian Com-

panies (Sec. 80L)

§5. Other items, if any

6. Total deletion (carried to Part I)

PART III.—Statement 0}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

I. Interest on tax-free securities (Sec. 86A)

12. Proportionate part of the tax payable by a registered firm [Sec. 86("i;)]

S3- Share in the income of an unregistered (irm or an association of persons or a body of in dividual* where tax has been paid or is payable by such firm, association or body [Sec. 86 (m) and (v)]

Other items, if any

§4-

TOTAL OF PART III . . . ..

PART IV.—S:im<: not included in Part I and claimed to be not taxable

P a r t i c u l a rs

Amount Reason why not

taxable

T O T AL OF P A RT IV . . ..

t/| THE GAZETTE OF INDIA EXTRAORDINARY [PAIT I I-

P.\ T V.^-Statemint of Tux deducted at source and Advance tax paid

T ax deducted at Bourcc Advance tax paid (Tax deduction certificates to be attached)

P a r t i c u l a rs

Amount of tax Date of payment Amount

S a l a r i es ; . . . .. Interest on Securities Other interest . . . .. Dividends 1 . . . .. Any other income

T O T AL

PART VI.—Statement of particulars required under Section 39 (6).

(To be completed where the assessee is afirmjassociation of persons/body of individuals/partner

in a firrnjmsmber of association or body [minor admitted to benefits of partnership).

Name and address of the firm/association of persona/

Name of each partner/minor/

m.iiibw'r

boiy of individuals

State if any partner/minor is spouse/child of any other partner

Adddreas of the partner/ minor/ member

Extent of share in the firm/asso- ciation^of persons/ body

—

IMPORTANT.—Whore the assessee Is a firm seeking continuance of registration

granted for an earlier assessment year, a declaration should

be attached in form No. 12.

VERIFICATION

I; son/daughter/wife of Shri—— —•— solemnly dec- (Name in block letters) (Name of father/husband) Jare 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 com- plete, 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 com- mencing on the first day of April, 19 —.

I further solemnly declare that no other income accrued or arose to or was received by me/the family/the flrm/the association of persons/the body of indivi- duals/during the said previous years and that I/the family/the flrm/the associa- tion/the body of individuals/ had, during the said previous years, no other source of income.

I further declare that I am making this return in my capacity aa •

—

of- - - — — _ —— and that I am competent to make this return and verity It. Date Place

(Signature)

IMPORTANT.—Before signing the verification, the signatory should satisfy

himself that the return is correct and complete in all respects.

(Any person making a false statement in this Return, shall be liable to prosecution under Section 277 of the Income-tax Act, 1961. and on conviction be publlshable with rigorous imprisonment which shall not ordinarily be for less than six months and may extend to two years)..

SEC. S(ii)] THE GAZETTE OF INDIA EXTRAORDINARY !75

ANNEXURE I—SALARIES

I. Name and address of the Employer

Rs.

2. Total a .n :>utit of salary, wages, etc. Including cash allowance to the

extent these are not exempt from tax

Value of accommodation provided by the employer free of rent

or at a concessional rent

Perquisite value of motor car or other conveyance provided by the

employer . . . . . . . ..

Perquisite value of domestic or personal services etc. provided by

the employer . . . . . . . ..

Any other amount chargeable under 'Salaries' (Give details)

Gross Salary

Deduct expenditure on

*Dstaih regarding conveyance

(a) Books [Sec. 16(1) ] Rs. —

Make HP

Date of purchase

(6) Entertainment Rs.——

[Sec. 16 (")1

Actual Cost Rs.

[Sec. 16 (iii) ]

Expenditure on

maintenance Rs.

(d) Conveyance* [Sec. i6(iV)] Rs.— —

Amount representing

wear and tear Rs.

TOTAL R S.

(e) Other items, if any (give details) [Sec. i6(u)] Rs. —

Amount attributable

to user for employment Rs.

Net income under the head 'Salaries'

•An employee receiving conveyance allowance is not entitled to this deduction.

ANNEXURE 2—INCOME FROM HOUSE PROPERTY

1 7 6

*Address of property '

Net Deductions from an-

Deductions

Serial No.

Gross annual

nual vahie

Net Amount

Total

Repairs

Local Taxes

Collection charges

income/ loss [CoL 6 minus Col. 11]

Interest on borrow- ings

[Col. 7 to ro]

[CoL 3 mmus Cols. 4 & 5]

Other items (Give details)

H E

Allowan- ce for newly constructed •property/ self- occupied property

G A Z E T T E

O F

N D

E X T R A O R D

N A R Y

[

P A

• A bo state, where relevant—

" T

; I ] -

Aggregate income/toss . . .. Rs. Less s&be of other. ccMowner(s) . . . Rs Balance carried to Part I of the return Rs,

(a) share, if co-owners; (b) proporfien not used for own business or profession.

1 7 6 (ii) after Form No. 5, the following Form shall be inserted, namely :—

"FORM N O. 5A-

[See Rule 8A
Statement of particulars for purposes of section 33A relating to (a) planting of tea bushes on land not planted at any time with tea bushes, or on land which had been previously abandoned; (6) re-planting of tea bushes in replacement of tea bushes that have died or have become permanently useless, on any laiKl already planted.

'

1. Name of assesses

Assessment year 19 —19

H E •2. Particulars of planting referred to in (a) above.

Deduction

"Actual cost of planting'

Name of tea estate where planting was

Serial No.

done

Whether situated in a "hilly area"; if so, specify the

Development allowance ad- misslbk @ 5 0%

Development allowance reserve create "Previous year" in which "land was prepared for planting

Extent of land (in hectares) on which plant- ing was done

area

G A Z E T T E

claimed in | respect of 2nd/¹ 4th previous year

O F

2

8

6

4

3

7

9

5

N D

A

3- Particulars of re-planting referred to in (b) above.

"Actual cost of

replanting"

Development allowance Serial No.

E X T R A O R D Whether situated in a "hilly area"; if so, specify the

Name of tea estate | where planting was done

reserve creat-

area

"Previous year" in which land was prepared for replanting

Extent of land (in hectares) on which re- planting was

ed

Development allowance admissible @3°%

Deduction claimed in respect of 2nd/4th pre- vious year

done

N A R Y

1

2

6

8

3

4

7

5

9

1

[

P A

* T

(Signature.)"

Date Place

•Delete whichever is not applicable.

[No. 11/F. No. 3(33)/67-TPL.]

S K C

V. RAMASWAMI rYER, Secy.

(

1 1

) , FBTNTH) IN INDIA BY THE GENERAL MANAGER, GOYIKtiMENT OF INDIA PRESS, MEW DELHI AND PUBLISHED BY THE MANAGER OF PUBLICATIONS, DELHI, 1 9 68

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