Guidelines regarding “requests of co-developers” - SEZ - 28

Instruction no. 28 No. C.8/3/2009-SEZ Government of India Ministry of Commerce and Industry Department of Commerce (SEZ Section) Udyog Bhawan, New Delhi Dated 16 July, 2009 To All the Development Commissioners Subject : Guidelines regarding requests of co-developers Reg. Dear Sir/Madam, The undersigned is directed to say that the Board of Approval has decided in its meeting held on 1 st August 2008 that the approval given by BoA for Co-Developers for particular terms and conditions of lease agreement will not have any bearing on the treatment of the income by way of lease rentals/down payment/premium etc., for the purposes of assessment under the prevalent Income Tax Act and Rules . The Assessing Officer will have the right to examine the taxability of these amounts under the Income Tax Act . 2. This is for information and necessary action. Yours faithfully (T. Srinidhi) Director Tel : 23063265 E-mail: [email protected]