Income-tax (Seventeenth Amendment) Rules, 2000 - S.O.892(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) NOTIFICATION NO. 11522 New Delhi, the 27th September, 2000 INCOME TAX S.O.892(E). - In exercise of powers conferred by section 295 , read with sub-section (5) of section 10A 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 (Seventeenth 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) the following shall be inserted, namely,- in PART IV, after rule 16C [16D Form of Report for claiming deduction under section 10A. The report of an accountant which is required to be furnished by the assessee along with the return of income, under sub-section (5) of section 10A shall be in Form No.56F] , (b) in Appendix II , after FORM NO.56E , the following shall be inserted, namely FORM 56F [See rule 16D] Report under section 10A of the Income-tax Act, 1961 1. I / We* have examined the accounts and records of (name and address of the relating to the business of assessee with permanent account number) their undertaking named .. engaged in the export of articles or things or computer software during the year ended on the 31st March 2. *I / We certify that the undertaking is located at (exact location of the undertaking) registered under .. (name of the FTZ / EPZ / EHTP / STP / SEZ) free trade zone / export processing zone / electronic hardware technology park / special economic zone* and that the deduction to be claimed by the assessee under section 10A of the Income-tax Act, 1961, in respect of the assessment year . is Rs. , which has been determined on the basis of the details in Annexure A of this Form. 3. I / We* certify that I / We* have collected all the relevant information necessary for computing the deduction allowable under this section and have verified the same with reference to the accounts and records of the assessee. 4. In my / our* opinion and to the best of my / our* knowledge and according to the explanations given to me / us*, the particulars given in the Annexure A are true and correct. Date .. Signed +Accountant Notes: 1. *Delete whichever is not applicable. 2. +This report is to be given by - (i) a Chartered Accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949); or (ii) any person, who in relation to any State, is, by virtue of the provisions in sub-section (2) of section 226 of the Companies Act, 1956 (1 of 1956), entitled to be appointed to act as an auditor of companies registered in that state. 3. Where any of the matter stated in this report is answered in the negative or with a qualification, the report shall state the reasons therefor. ANNEXURE A [See paragraph 2 of Form 56F] Details relating to the claim by the exporter for deduction under section 10A of the Income-tax Act, 1961 1. Name of the assessee : 2. Assessment year : 3. Name of the undertaking 4. Location and address of the undertaking 5. Nature of business of the undertaking 6. Date of initial registration in FTZ / EPZ / SEZ 7. Date of commencement of manufacture or production 8. Number of the consecutive year for which the deduction is claimed 9. Total turnover of the business 10. Total turnover of the undertaking 11. Total profits derived by the business 12. Total profits derived by the undertaking 13. Total export turnover 14. Export proceeds received in convertible foreign exchange of the undertaking in respect of (a) articles or things, or (b) computer software 15. Sale proceeds of the undertaking in respect of (a) articles or things, or (b) Computer software 16. Please specify (i) whether the full consideration in convertible foreign exchange for exports made by the undertaking was brought into India within a period of six months from the end of the previous year Yes / No (ii) If not, whether it was brought into India within such further period in the previous year as allowed by the Competent Authority Yes / No (iii) Specify the amount and the relevant previous year in case such amount is brought into India in convertible foreign exchange beyond the period of six months from the end of relevant previous year and with the approval of the Competent Authority, where such amount relates to any other previous year. Also state the name of the authority and the period up to which the approval was accorded (iv) Amount of sale proceeds, if any, that are credited to a separate account maintained by the assessee with any bank outside India and the reference number of Reserve Bank of India according permission for the same. 17. Amount of deduction under section 10A to which assessee is entitled with the working sheet. 18. Qualifications, if any, on the above. [F. No. 142/41/2000-TPL] SHKHA DARBARI, Under Secy.