REGISTERED No. D. रजिष्ट्री सं ० डी० 221
भारतको राजपत्र The Gazette of India
असाधारण
EXTRAORDINARY
भाग II-- खण्ड 3-- उपखण्ड ( ii )
PART II- Section 3- Sub - section ( ii )
प्राधिकार से प्रकाशित
PUBLISHED BY AUTHORITY
सं ० 17]
नई दिल्ली, सोमवार , जनवरी 12 , 1970/ पौष 22 , 1891
No. 17) NEW DELHI , MONDAY , JANUARY 12 , 1970 / PAUSA 22 , 1891
इस भाग म भित्र पृष्ठ संख्या दी जाती है जिससे कि यह अलग संकलन के रूप में रखा जा सके ।
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 9th January 1970
S.O. 152. 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 follow- ing rules further to amend the Incotne - tax Rules , 1962 , namely:--
1. ( 1 ) These rules may be called the Income - tax ( Amendment ) Rules , 1970 .
(2 ) They shall come into force on the 1st day of April , 1970 .
2. In Appendix II to the Income- tax Rules , 1962 ,-
(1) in Form No. 1 ,-
( a) in Part II , for items 8 and 9 , the following items shall be substituted. namely:-
"8. Royalties etc , received by an Indian company :
(a) from certain persons carrying on business in India ( Sec . 80MM ) .
(b) from certain foreign companies ( Sec . 80-0 ) .
9. Dividends received by Indian company from certain foreign companies (Sec . 80N) " ;
(b) below the Table in Part V , the following Note shall be inserted, namely : -
'NOTE. If the aggregate of the tax deducted at source and advance tax paid as shown in Part V falls short of the tax chargeable on the
(47 ) THE GAZETTE OF INDIA EXTRAORDINARY
[PART II- 48
total income in Part I by more than Rs . 500 , the amount of the net tax due should be paid to the credit of the Central Govern- ment within 30 days of furnishing this return . The payment may be made either directly into the Reserve Bank of India /State Bank of India/ Treasury/ Sub- Treasury on an appropriate challan , or a crossed cheque for the amount may be drawn payable to the "Income - tax Department " and delivered , together with an appro- priate challan for the same amount , at the counter of the Income- tax Office .
Failure to pay the net tax due on the total income within 30 days of furnishing this return will entail the levy of a penalty up to 50 per cent of such tax . ' ;
(c) after Part VII, in the ' VERIFICATION' , for the second paragraph , the following paragraph shall be substituted, namely : -
" I further solemnly declare that no other income accrued or arose to or was received by the company during the said previous years from any asset either in its own name or in the name of any other person and that the company had , during the said previous years , no other source of income ";
( 2) in Form No. 2 ,-
( a) under the heading " FOR RESIDENT INDIVIDUALS ONLY " , for the words "Whether married Ycs / No " , the following words shall be substituted , namely :-
"Whether married
Yes/No.
Yes/ No. " ;
Whether the spouse has taxab'e income
(b) in Part II, items 13 , 14 , 15 and 16 shall be renumbered respectively as items 14 , 15 , 16 and 17 , and before item 14 as so renumbered , the following item shall be inserted , namely: -
" 13. Professional income from foreign sources in the case of an author , play - wright , artist , etc. ( Sec . 80RR ) " ;
(c) below the Table in Part V, the following Note shall be inserted . namely : -
'NOTE . If the aggregate of the tax deducted at source and advance tax paid as shown in Part V falls short of the tax chargeable on the total income in Part I by more than Rs . 500 , the amount of the net tax due should be paid to the credit of the Central Govern- ment withir 30 days of furnishing this return . The payment may be made either directly into the Reserve Bank of India / State Bank of India / Treasury / Sub- Treasury on an appropriate challan , or a crossed cheque for the amount may be drawn payable to the " Income - tax Department " and delivered , together with an appre- priate challan for the same amount , at the counter of the Income- tax Office .
Failure to pay the net tax due on the total income within 30 days of furnishing this return will entail the levy of a penalty up to 50 percent of such tax.' ;
(d) after Part VI , in the VERIFICATION' for the second paragraph , the following paragraph shall be substituted , namely :-
" 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 said previous years from any asset either in my/ its / . .'s own name or in the name of any other person , and that I / the family/ the firm/ the co- opera- tive society/ the association / the body of individuals / the local authority/ had, during the said previous years , no other source of incom.e . ";
(3) in Form No. 3 ,-
(a) under the heading " For Resident individuals only " , for the words "Whether married Yes / No . " , the following words shall be substituted , namely :
Yes /No .
"Whether married
Yes /No " :
Whether the spouse has taxable income THE GAZETTE OF INDIA EXTRAORDINARY
Sac. 3 ( 1) ]
49
(b) below the Table in Part V , the following Note shall be inserted , namely :-
"NOTE -If the aggregate of the tax deducted at source and advance tax paid as shown in Part V falls short of the tax chargeable on the total income in Part I by more than Rs . 500 , the amount of the net tax due should be paid to the credit of the Central Govern- ment within 30 days of furnishing this return . The payment may be made either directly into the Reserve Bank of India / State Bank of India/ Treasury / Sub- Treasury on an appropriate challan , or a crossed cheque for thethe amount may be drawn payable to the "Income - tax Department " and delivered , together with an appro- priate challan for the same amount , at the counter of the Income- tax Office .
Failure to pay the net tax due on the total income within 30 days of furnishing this return will entail the levy of a penalty up to 50 per cent . of such tax . " ;
( c) after Part VI , in the ' VERIFICATION' , for the second paragraph , the following paragraph shall be substituted , namely :-
" I further solemnly declare that no other income accrued or arose to or was received by me/ the family/ the firm/ the association of per- sons/ the body of individuals /. during the said previous years from any asset either in my/ its / . ...' s own name or in the name of any other person , and that I / the family / the firm / the association/ the body of individuals / . sald previous years , no other source of income . " . had , during the
[ No. 5 / F . No. 3 ( 16 ) 69 - TPL R. R. KHOSLA , Secy-
PRINTED BY THE GENERAL MANAGER, GOVERNMENT OF INDIA PRESS , MINTO ROAD , NEW DELHI AND PUBLISHED EY THE MANAGER OF PUBLICATIONS , DELHI , 1970