Extension of I.T. Act to the Continental Shelof of India. - 0304(E) - Income Tax

Extension of I.T. Act to the Continental Shelof of India . Notification Number: 0304(E) Dated 19-02-1983 In exercise of the powers conferred by clause(a) of sub-section (6) of section 6, and clause (a) of sub-section (7) of section 7, of the Territorial Waters, continental shelf, Exclusive Economic Zone and other Maritime Zone Act, 1976 (80 of 1976), the Central Government hereby extends the Income-tax Act, 1961 (43 of 1961), to the continental shelf of India and the exclusive to the restriction and modification that the said Act shall 1983, subject to the restriction and modification that the said Act shall apply only in respect of income derived by every person from all or any of the following activities, namely:- (a) the prospecting for or extraction or production of mineral oils in the continental shelf of India or the exclusive economic zone of India ; (b) the provision of any services of facilities or supply of any ship, aircraft, machinery or plant (whether by way of sale or hire) in connection with any activities referred to in clause (a) ; (c) the rendering of services as an employee of any person engaged in any of the activities referred to in clause (b). Explanation:- For the purpose of this notification, "mineral oil" includes petroleum and natural gas. File Number: 133(79)/82-TPL