Companies (Profits) Surtax Act 1964: Extension of Act, to the Continental Shelf of India - 305(E) - Income Tax

Companies (Profits) Surtax Act 1964: Extension of Act, to the Continental Shelf of India Notification Number: 0305(E) Dated 31-03-1983 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 Zones Act, 1976 (80 of 1976), the Central Government hereby extends the Companies (Profits) Surtax Act, 1964 (7 of 1964), to the Continental Shelf of India and the exclusive economic zone of India with effect from the 1st day of April, 1983, subject to the restriction and modification that the said Act shall apply only in respect of the chargeable profits of every company engaged in 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 or 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). Explanation.- For the purposes of this notification, "mineral oil" includes petroleum and natural gas. File Number: 133(79)/82-TPL