The Gazette of India
EXTRAORDINARY
PART II-Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 367] NEW DELH1, WEDNESDAY, OCTOBER 29, 1969/KART1KA 7, 1891
Separate paging to 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 October 1969
S.O. 4427.—In exercise of the powers conferred by section 295 of the Income- tax Act. 1961 (43 of 1901). 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 (Fifth Amendment) Rules, 1969.
(2) They shall come into force on and with effect from the 1st day of April, 1970.
2 In the Income-tax Rules, 1962, in rule 3, in the Explanation below clause (b), for sub-clause (ia) and (ib) of clause (1), the following sub-clauses shall be substi- tuted, namely: —
"(ia) where the accommodation is provided—
(A) by the Reserve Bank of India, or
(E) by a Corporation established by a Central, State or Provincial Act, or by a company in which all the shares are held (whether singly or taken together) by the Government or the Reserve Bank of India or a Corporation owned by that Bank, or
1398 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SEC. 3(li)]mainly by the Government, to any person employed by It, an amount equal to 10 per cent., If the accommodation Is unfurnished, and 12.8 per cent, 12 It is furnished, of the salary due to such person In res- pect of the period during whlqh the said accommodation was occu- pied by him during the previous year;
(lb) where the accommodation is provided by a company [not being a company referred to In sub-clause (ia) (B) of thlfl clause] in which not less than forty per cent, of the shares are held (whether singly or taken together) by the Government or the Reserve Bank of India or a Corporation owned by that Bank to any Officer qf Government whose services have be^n lent to it or to any individual employed by it after his retirement from the service of Government, an amount equal to 10 per cent.. If the accommodation is unfurnished, and 12.G per cent., tf it Is furnished, of the salary due to such officer or Individual, as the case may be, in respect of the period during which the said accommo- dation was occupied by him during the previous year;".
[No. 142/F. No. 3(19)69-TPL.]
R. R. KHOSLA, Secy.