The Gazette of India
EXTRAORDINARY
PUBLISHED BY AUTHORITY
PART II-Section 3—Sub-section (i)
No. 119] NEW DELHI, THURSDAY, MARCH 31, 1983/CHAITRA 10, 1905
Separate Paging is given to this Part in order that it may be filed as a separate
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2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3C")]MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 31st March, 1983
G.S.R. 3©7(E).—Whereas the Central Government is satisfied that it is necessary and expedient in the public interest to mak an exemption in respect of surtax in favour of foreign companies witfa whom the Central Government has entered into agreements for the association or participation of that Govern- ment or any person authorised by that Government in any business consisting of the prospecting for or extraction or production of mineral oils ;
Now, therefore, in exercise of the powers conferred by section 24AA of the Companies ((Profits) Surtax Act, 1964 (7 of 1964), the Central Govern- ment hereby provides that no surtax shall be payable by such foreign com- panies.
Explanation.—For the purposes of this notification,—
(a) "foreign company" shall have the meaning assigned to it in clause (4) of section 80B of the Income-tax Act, 1961 (43 of 1961) ;
(b) "mineral oil" include^ petroleum and natural gas.
[No. 5150/F. No. 133i(79)/82-TPLJ
M. S. UNNINAYAR, Addl. Secy.