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REGISTERED No. D. (D.N.)-72

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (i)

PUBLISHED BY AUTHORITY

No. 341] NEW DELHI, WEDNESDAY, SEPTEMBER 14,1983/BHADRA 22, 1905

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

(1)

734GI/83—1

ance Act, 1983 (11 of 1983), the Central Govern- ment hereby frames the following Scheme, namely:—

1. Short title, commencement and application.—

(1) This Scheme may be called the Companies Deposits (Surcharge on Income-tax) Scheme, 1983.

(2) It shall come into force at once.

(3) It applies to all companies to which the provisions of the Income-tax Act, 1961 (43 of 1961) apply.

2. Definitions. —

MINISTRY OF FINANCE

(Department of Revenue)

NOTIFICATION

Income-tax

New Delhi, the 14th Sept., 1983

G.S.R: 704(E).—In exercise of the powers con- ferred by sub-section (7) of section 2 of the Fin- (1) In this Scheme, unless the context other- wise requires, —

(a) "account" means a Deposit Account under this Scheme;

(b) "deposit office" means —

(i) in a case where the deposit under this Scheme is made at any place where a branch or office of the Development Bank is situated, such branch or office; and

(ii) in any other case, a branch or an office of the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955) speci- fied in Appendix—I, hereto.

(dt "Income-tax Act" means the Income-tax Act, 1961 (43 of 1961) ;

(e) "paragraph" means a paragraph of this Scheme and "sub-paragraph" means a sub-paragraph of the paragraph in which it occurs ;

(f) all other words and expressions used herein but not defined and in the In- come-tax Act shall have the meanings, respectively, assigned to them in that Act.

(2) All references to "Forms" in this Scheme shall be construed as references to the forms set out in Appendix II hereto,

3. Deposit when and how to be made.—

(1) A deposit in lieu of payment of one-half of the amount of surcharge on income- tax under the second proviso to sub- section (5) section 2 of the Finance

Act, 1983 (11 of 1983), may be made by a company at any time before the last instalment of "advance tax" is due in its case ;

Provided that in a case where the date for furnishing the estimate of "ad- vance tax" is extended by the Commis- sioner under the proviso to sub-section (4) of section 209A of the Income-tax Act, such deposit, to the extent it is made in lieu of one-half of the amount of surcharge relatable to the amount of advance tax allowed to be paid before the date so extended, may be made on or before such extended date.

(?.) A deposit in lieu of payment of one-half of iho amount of surcharge on income-tax under sub- section (7) of section 2 of the Finance Act, 1983 Ml of 1983), may be made by a company at any Time, during the financial year commencing on the Jr/t day of April, 1983.

(3) A deposit under sub-paragraph (1) or sub-paragraph (2) may be made either in one lump sum or in instalments.

4. Manner of deposit.—

1I) Every company making a deposit under this Scheme for the first time shall apply to the deposit office in Form A, or as near thereto as may b.\ together with the amount of deposit payable in the manner specified in sub-paragraph (3).

(2) On receipt of an application under sub- paragraph (1), the deposit office shall open an account in the name of the company.

(3) Every subsequent deposit shall be made mio the deposit office at which the account stands by u crossed cheque drawn in favour of such office on a banlc at the place where the office is situated :

Provided that where such deposit is made in a deposit office referred to in sub-clause (ii) of clause (b) of sub-paragraph (1) of paragraph 2. such deposit may be made in cash.

(4) Every deposit shall be evidenced by a re- ceipt issued in Form B, or as near thereto as may bv, by the deposit office.

(5) The deposit office, shall also issue, at the end of the financial year commencing on the 1st day of April, 1983, or, as the case may W, on the expiry of the period ending with the extended date referred to in the proviso to sub-paragraph d) of paragraph 3, a certificate in Form C, or as near thcrrfti us may be. to the company showing the amount of deposits made by it during the said firi;mcia] vear or, as the case may be, the period ending with the extended date.

7^40 r/d?—;

5. Proof regarding deposit—

(1) Where a deposit is made by a company under sub-paragraph (1) of paragraph 3, the re- ceipt or as the case may be, the receipts referred io in sub-paragraph (4) of paragraph 4 shall be forwarded by the company to the Income-tax Officer within one week from the date on which the last instalment of advance tax is due in its case, or, as the case may be, within one week of the extended date referred to in the proviso to sub- paragraph (1) ot paragraph 3.

(2) Where a deposit is made by a company under sub-paragraph (2) of paragraph 3, the re- ceipt or as the case may be, the receipts referred to in sub-paragraph (4) of paragraph 4 shall be forwarded by the company to the Income-tax Officer along with the return of income for the assessment year commencing on the 1st day of April, 1984.

(3) The Income-tax Officer may, for the pur- poses of verification, require the company to pro- duce the certificate issued to it by the deposit office.

6. Transfer of accounts.—A conipanv may apply for the transfer of its account from any branch or office at the Development Bank to any other branch or office of the same bank or from any branch or office of the bank referred to in sub-clause (ii) of clause (b) of sub-paragraph (1) of paragraph 2 to any other branch or office of the same bank

7. Issue of duplicate certifica'e, etc.

(1) In the event of loss or destruction of a certificate issued by the deposit office, the deposit office may, on an application made to it in (his behalf, issue a duplicate thereof.

(2) In the event of loss or destruction of the receipt referred to in sub-paragraph (4) of para- graph 4, the deposit office may, on an application made to it in this behalf, issue a duplicate thereof.

8. Interest.—The deposit made under this Sche- me shall carry simple interest at the rate of 7.5 per cent, per annum to be calculated from th^ 1st day of the monih immediately following the month in which the amount of deposit is credited to the account of the company to the last day of the month immediately preceeding the month in which the amount of the deposit becomes repavable (both days inclusive).

9. Repayment.—

(1) Subject to the provisions of paragraph 10, the amount of deposit together with interest

11. ANDIIRA PRADESH

1. Slate Hank of India,

Vyayavada, Krishna District.

thereon shall be repayable immediately after the expiry of five years from the end of the financial year commencing on the 1st day of April, 1983 by the deposit office at which the account of the com- pany stands.

2. State Bank of India,

Kurnool, Kurnool District.

1. State Bank of India,

(2) The repayment of a deposit shall be made only on production of the certificate accompanied by an application in Form D, or as near thereto as may be.

Tirupati, Chitoor District.

4. State Bank of India,

"Suryabagh", Alluri, Sectharamarajti Roacf, Vishakapatnam-4,

IT]. ASSAM

(3) Where, in a scheme of amalgamation, the amalgamating company assigns or otherwise trans- fers the right to receive the deposit together with interest thereon to the amalgamated conipanv, the deposit together with interest thereon shall be re- paid to the amalgamated company.

1. Slate Bunk of India,

10. Company in Liquidation.—

Jorhat, Sibsagar District.

2. State Bank of India,

Dibrugarh.

IV. BIHAR

1. State Bank of Tndia,

Bokaro Industrial Area, Dhanbad District.

2. State Bunk of India,

Jtirashcdpur, Singhbum District.

(1) Any person who is the liquidator of any company which is being wound up, whether under the orders of a court or otherwise, may, subject to the provisions of sub-paragraph (2), make an application to the Development Bank in Form E, or as near thereto as may be, for earlier repayment of the deposit together with interest thereon,if he considers that the affairs of the company are likely to be fuJly wound up before the expiry of the period specified in sub-paragraph (1) of para- graph 9.

3. State Bank of India,

Ranchi, Ranchi District.

V. GO A, DAMAN AND DIU

(2) An application under sub-paragraph (1) shall be made only if the liquidator considers that the affairs of the company are likely to be fully wound up within a period of six months from the date of the application.

State Bank of India, Panaji Secretariat, Panaji

VI. GUJARAT

1. State Bank of India,

Vadodra, Vadodra District.

2. State flank of India,

Bharucri, Bharucti District.

3. State Bank of India,

(3) If the Development Bank is satisfied that the affairs of the company are likely to be fully wound up within the period of six months specified in siib-paragranh (2) and that the period of six months aforesaid shall end before the expiry of the period referred to in sub-paragraph (1), it may make an order in writing requiring the de- posit office concerned to forthwith repay the amount of the deposit together with interest due thereon to the liquidator and shall endorse a copy of such order to the liquidator.

Jawahar Road, P.B. No. 174, Rajkot-1.

(4) On production of the copy of the order of the Development Bank by the liquidator, the de- posit office shall forthwith repay the deposit with interest due thereon.

APPENDIX-I

4. State Bank of India, Harikamal Building, Near Moti Talkies, Bogumpara, P.B. No. 13, Surat-1.

VII. HARYANA

Branches and offices of the State Bank of India, referred to In paragraph 2(1)(bXli) of flie Companies Deposits (Surcharge on Income-tax) Scheme, 1983.

1. State Bank of India,

I. ANDAMAN AND N1COBAR ISLANDS

Ambala City, Ambala.

2. State Bank of India,

State Bant of India, Aberdeen Bazar, Port Blair, Andaman District.

Faridabad, Faridabad District.

VIII. JAMMU AND KASHMIR

XIII. MANJILR

State Bank ol India,

1. State Bank of Indm,

Initial.

Srinagar, Srinagar District.

XIV. MEGHAIA\A

2. State Bank of India,

Anantnag, Anantnag District.

SlLitt I'ark of India, Ri orj Ba?ai. Shillong.

IX. KARNATAKA

XV. NA(>ALANI1

1. State Bank of India,

Slali. R'nk of India Kohimu.

Belgaum, Belgium District.

XVI. OR1SSA

2. State Bank of India,

1. State Pankol India,

P.B. No. 90, Mangalorc-I, South Kanara District.

Collectoialc Compound, Cuttack-2.

3. State Bank of India,

2. State Bank of Tndia,

Raichur, Rnichur Dish ict,

Rourkela, Sundcrgarli District.

X. KERALA

1. SLtteBank of India,

, XVIT. PONDTCHERRY State Bank of India, Pondicherry.

XVITT. PUNJAB

P.B. No. 9., Malabar District, Calicut-1.

1. State Bank of India,

2. State Bank of India,

P.B. No. 22, Amritsar.

2. State Bank of India,

P.B. No. 173, Bishop Mikal, Memorial Building, K.K.. Road, Kottayam District.

P.B. No. 4, Ludhiana.

3. State Bank of India,

3. Stale Bank of India,

P.B. No. 14, Irivanium-l.

XI. MADHYA PRADLSH.

Civil Lines, P.B. No. 1, Jullundar, Jullundar Disliict.

1. State Bank of India,

XIX. RAJASTHAN

1. State Bank of India,

P.B. No. 12, Lashkar, Gwalior.

Jodhpur.

2. State Bank of India,

2. Stale Bank of India, L.T.C. Building, Kola.

P.B. No. 6S Indore City, Indore.

3. State Bank of India,

3. State Bank of India,

Udaipur.

P.B. No. 230, Jabalpur City,

XX. SIKKIM

State Bank of India, Gangtok.

4. State Bank of Tndia, P. B. No. 29/61, Raipur.

XXI. TAMU, NADU

XII- MAHARASHTRA

1. State Bank of Tndia,

1. State Bank of India, P.B. No. 1700, Coimbatorc-18.

Kranli Chowk, AurangaKid..

2. State Bank of India,

2. State Bank of India,

Central Avenue Road, Nagpur.

P.B. No. 4, West Veli Street, Madurai-625001.

3. Stale Bank of India,

3. State Bank of India,

Salem.

Punc City, JPune.

XX7). IRIPURA

'"UteBank ol India, Anartala.

XXI1J, LTTAR PRADES

1. StaMBank oflndia,

P.B. No. 22, Allahabad.

1. State Bank of India,

Burcilly.

3. Slate Bank of India,

l)Lhia Dun.

4. State Bank of India,

Tilia/iabdd,

5. Slate Bank of India.

Buns Fatak, V-iranasi City, Varanasi.

XXIV. WEST BENGAL

1. State Bank of India, Benachity Bazar, IJlirglipiir.

2. State Bank oMndia,

P.B. No. 19, } toward h.

1 Srjtc Bank of India,

lijrjccling.

APPENDIX II

hORM A

Application for opening a deposit account under the Companies Deposits (Surcharge onlneome-tax) Scheme 1983,

[See pjL.Lgiraph 4(1) of the Companies Deposits (Surcharge- on Income-tax) Scheme, 1983]. 1u

1,

, being the

(Name in block letters) (designation)

of

(name and address of the company)

hereby apply for opening an account under the Companies Deposit (Surcharge on Income-tax) Scheme, 1983 in the name if the said company and tender herewith Rs

(Rupees

(figures) only) in

(in words)

cash*/cheque.

The Permanent ; ccount No. of the company is

Date

Signature**

Place

NOTES : ~ *(1) Delete what is not applicable.

**(2) The application should be signed by the

principal officer < f the company, Where the company making the deposit h under liquidation, the application should be signed by the liquidator.

(To be filled in by the deposit oflice)

The account has been opened on

with Rs under the Companies Deposit Account No

Specimen signature of the Signature f offiecr-in- Princip;d Officer/Liquidator t>f charge, the company making the deposit

FORM B

Receipt for the Deposit under the Companies Deposits (Surcharge on Income-Tax) Scheme, 1963

[Sec paragraph 4(4) of the Companies Deposits (Surcharge on Tncome-tax) Scheme, 1983.

To be issued in duplicate

Name of the deposit office R eeeipt No Received from

(Name and address of Ihe company)

*

whose

Permanent Account No. is Rs , . .(Rupees oary) , (in figures) (in words)

for credit itito Companies Deposit Account Ni-

Date Signature of Offlcer-in-Charge

Place

SEAL

Nnte :—This receipt should be preserved carefully and for-

warded by the company to the Income-tax OfHcrer,—

(i) in a case where the deposit has been made under sub-section (5) rf section 2 of the Finance Act, 1983 (11 of 1983), within one week from the date on which the last instilment of advance tax is due in its case or, as the case may lie, within one week of the extended date referred to in the proviso to sub-paragraph (1) of paragraph 3; and

(ii) in a case where the deposit h made under sub-section

(7) of section 2 of the Finance Act, 1983 (11 of 1983J, alongwith the return of income for the assessment year 1984-85.

FORM C

Certificate for the Deposit under the Companies Deposits (Sur- charge on Income-tax) Scheme, 1983

[See paragraph 4{5) of the Companies Deposits (Surcharge on Income-tax) Scheme, 1983]

Name of the deposit office

Certificate number

It is hereby certified that M/s

. . . , . . ^r

(name and address of the company), whose Permanent Account

N o- is has made the