Income-tax (Fifteenth Amendment) Rules, 2000 - S.O. 776(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) CENTRAL BOARD OF DIRECT TAXES NOTIFICATION NO 11466 New Delhi, the 29th August, 2000 INCOME-TAX S.O. 776(E).- 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 following rules further to amend the Income-tax Rules, 1962 , namely:- 1. (1) These rules may be called the Income-tax (Fifteenth Amendment) Rules, 2000 (2) They shall come into force on the date of their publication in the Official Gazette 2. In Income-tax Rules, 1962 ,- (a) after rule 12B , the following rule shall be inserted, namely :- 12C. Statement under sub-section (2) of Section 115U (1) The statement of distributed income shall be furnished by the 30th November of the financial year following the previous year during which such income is distribution, to the Chief Commissioner or Commissioner of Income-tax, within whose jurisdiction, the principal office of the Venture Capital Company or the Venture Capital Fund, as the case may be is situated. (2) The statement of distributed income which is to be furnished under sub-section (2) of section 115U by the Venture Capital Company or the Venture Capital Fund shall be in Form No. 64, duly verified by an accountant in the manner indicated (b) in Appendix II , after FORM NO. 63A , the following form shall be inserted, namely:- FORM NO.64 [See rule 12 C] Statement of Income distributed by Venture Capital Company or a Venture Capital Fund to be furnished under section 115U of the Income-tax Act, 1961 1. Name of the Venture Capital Company or Venture Capital Fund and the address of the address of registered office 2. Permanent Account Number 3. Previous year ending 4. Name and address of the Directors of the Venture Capital Company/trustees of the Venture Capital Fund 5. Total income under all heads received from the investments in Venture Capital Undertakings (6+8+10+12) 6. Total income received from the investments in Venture Capital Undertakings under the head Long-term capital gains 7. Proportion of (6 to 5) 8. Total income received from the investments in Venture Capital Undertakings under the head Short-term capital gains 9. Proportion of (8 to 5) 10. Total Dividend income received from the investments in Venture Capital Undertakings 11. Proportion of (10 to 5) 12. Other income (such as interest, etc.) received from the investments in Venture Capital Undertakings 13. Proportion of (12 to 5) 14. Details of persons receiving income from the Venture Capital Company or the Venture Capital Fund in the following format: S.No Name(s) Address(es) PAN Circle/Ward/Special Range where assessed to Income-tax Total amount paid Amount paid under Long term capital gains [Column 6 X Sl.No.7] Amount paid under Short term capital gains [Column 6 X Sl.No.9] Amount paid as Dividend [Column 6 X Sl.No.11] Other income such as interest, etc., paid [Column 6 X Sl.No.13] (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Enclose a copy of the Certificate of Registration under the Securities and Exchange Board of India Act, 1992. Enclose a copy of the Venture Capital Fund deed in case of Venture Capital Fund registered under the provisions of the Registration Act, 1908. Enclose audited accounts including balance sheet, annual report, if any, with certified copies of income and appropriation towards distribution of income. I,---------------------------------------------, son/daughter/wife of ---------------------------do (Name in full and block letters) hereby solemnly declare that to the best of my knowledge and belief what is stated above and in the Annexure(s), including the documents accompanying such Annexure(s), is correct and complete. I further declare that I am furnishing such statement in my capacity as -------------------------(designation) and that I am competent to furnish this statement and verify it. Verified today the ------------------- day of --------------------- Place---------------------- Signature------------------- Verification I/We ------------------------------------- have examined the books of account and other documents showing the particulars of income earned and the income distributed to the investors by the --------------------------------------------------------------------------- (name of the Venture Capital Company or the Venture Capital Fund) for the previous year ending---------------------- 2. I/We declare that the above particulars are true and correct to the best of my/our knowledge and belief. (Signature with name of the accountant) Place--------------- Date---------------- Note 1: Accountant means the accountant as defined in the Explanation to sub-section(2) of section 288 of the Income-tax Act, 1961. [F. No. 142/52/2000-TPL] RAHUL NAVIN, Under Secy.