RULES/AMENDMENT RULES

I.T. (FIFTEENTH AMDT.) RULES, 2005

Income-tax (Fifteenth Amendment) Rules, 2005 – Insertion of rules 11MA, 11MAA in Part VI, Form No. 58C and Form No. 58D in Appendix II to Income-tax Rules, 1962

NOTIFICATION NO. 164/2005 [F. NO. 142/44/2004-TPL], DATED 17-6-2005

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, 2005.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Income-tax Rules, 1962,—

 (a)  in Part II, in sub-part F, after rule 11M, the following rules shall be inserted, namely:

 “11MA. Form of report by an approved association or institution under clause (ii) of sub-section (4) of section 35AC – (1) The report to be furnished by the approved association or institution under clause (ii) of sub-section (4) of section 35AC shall be in Form No. 58C.

 (2) The report referred to in sub-rule (1) shall be furnished to the National Committee before the expiry of three months from the end of the financial year.

 (3) The National Committee, after receipt of the report referred to in sub-rule (2) may, at any time, undertake to inspect or verify the information furnished by the association or institution.

 11MAA. Form of report by public sector company or local authority or association or institution, which is carrying out a notified eligible project or scheme, under clause (ii) of sub-section (5) of section 35AC – (1) The report to be furnished by a public sector company or local authority or an association or institution in respect of the eligible project or scheme, under clause (ii) of sub-section (5) of section 35AC shall be in Form No. 58D.

 (2) The report referred to in sub-rule (1) shall be furnished to the National Committee before the expiry of three months from the end of the financial year.

 (3) The National Committee, after receipt of the report referred to in sub-rule (2) may, at any time, undertake to inspect or verify the information furnished by the public sector company or local authority or association or institution.”

 (b)  In Appendix II, after Form No. 58B, the following forms shall be inserted, namely :

FORM 58C

(See rule 11MA)

Report to be submitted under clause (ii) of sub-section (4) of section
35AC of the Income-tax Act, 1961 to the National Committee by
an approved association or institution

Reporting period…………..to………..

Online GST Certification Course by TaxGuru & MSME- Click here to Join

   1.  Name of the association or institution :……………………………………………………

   2.  PAN/assessment Circle/Ward :………………………………………………………………….

   3.  Address for communication :………………………………………………………………….

   4.  Reference number by which the National Committee has given approval to the association or institution :…………………………………………………….

   5.  Whether any complaint has been received against the persons managing the affairs of the association or institution regarding financial irregularities, nepotism, discrimination etc. If yes, the details thereof :…………………………………………. ………………………………………………………………

   6.  Whether any eligible person has been discriminated from getting the benefits of the eligible project or scheme on the basis of religion, race, caste, sex, place of birth etc. If yes, the details thereof :………………………….

   7.  Whether there is any deviation from the original purpose set out for the association or institution. If yes, the details thereof :……………………………………………………………………………………………………………………………………………………………….

   8.  Whether the persons managing the affairs of the association or institution have received any personal benefits from the association or institution other than the remuneration or honorarium allowable in their case. If yes, the details thereof……………………………………………………………………………………………………………………………………………………………….

Certified that the above information is true to the best of my knowledge and belief.

Place :…………….

Date :…………….

……………………………………….

Name and designation

FORM 58D

(See rule 11MAA)

Report to be submitted by a public sector company, local authority
or an approved association or institution under clause (ii) of
sub-section (5) of section 35AC of the Income-tax Act,
1961 to the National Committee on a notified
eligible project or scheme

Reporting period……………to………….

   1.  Name of the project or scheme approved by the National Committee: ……………………………………………………………… ………………………………

   2.  Name of the public sector company, local authority, association or institution carrying on the project or scheme : …………………………………………………………………………………………………………………………………………………………………………………………………………………………………..

   3.  PAN/assessment Ward/Circle of the concern carrying on the eligible project or scheme………………………………………….. …………………………………………………………………………………………………………………………………………………………………………………………………….

   4.  Address for communication :………………………………………………………………………………………………………………………. ……………………………….

   5.  Notification number, date of Notification and File number of the project/scheme:………………………………………….. …………………………………………………………………………………………………………………………………………………………………………………………………………………….

   6.  Objective of the project or scheme:…………………………………………………………………………………………….. ………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………….

   7.  Whether separate accounts are being maintained for the eligible project/scheme and if so, a copy of such accounts to be submitted with this report :…………………………………………………………………………………………………………………….. ………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

   8.  Whether the approval of the National Committee with terms and conditions has been displayed at prominent places and if so, details thereof (attach photographs, if possible) :…………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………

Performance of the Eligible Project or Scheme During the Reporting Period

 

Nature of the Project or scheme
Name and address of the project or scheme
Total cost of project and amount approved by the National Committee
Donations collected under section 35AC
Expenditure incurred on the project
Target to be met by the project/ scheme (give quantati

ve details)
Achievement during the reporting period
Cumulative figure
Reasons for shortfall, if any
Remarks
During the reporting period
Cumulative Figures
Out of Donation received under section 35AC during the reporting period
Cumulative figure
Out of the other Sources (mention sources in remarks)
Cumulative figure
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(a) Drinking water project
(i) rural areas
    (i )    pump-sets

  (ii)    wells
  (iii)  tube-wells
  (iv)   laying of pipes
   (v)    other
(ii) urban slums
(i)pump-sets

  (ii)    wells
  (iii)  tube-wells
  (iv)   laying of pipes
   (v)    other
(b) welling units for Economically Weaker Section (EWS)
(c) school buildings for children of Economically Weaker Section (EWS)
(d) non-conventional and
(i) solar energy   renewable energy

(ii)wind energy    systems
(iii)     tidal energy
  (iv)   other
(e) transport infrastructure
(i) bridges

(ii) public highways
(iii) other roads
(f) promotion of sports
(g)  pollution control
(h) exclusive for women and children below twelve years in rural areas

(i) education institutions
(ii) hospitals and medical facilities
(i) running of crèches and schools
(j) encouraging natural fertilizers
(k) programme promoting road safety
(l) hostel accommodation for women, handicapped and senor citizens
(m) vocational education and training in rural areas
(n) imparting education in the field of engineering and medicine in rural areas
(o) development of degraded non-forest area or afforesation programme
(p) relief and rehabilitation of handicapped individuals
(q) any other programme to uplift the rural poor or urban slums

 

Certified that the above information is true to the best of my knowledge and belief.

 

Place :…………..
Signature of the principal officer of the
concern carrying on project or scheme
Date :……………
………………………………………………………………………….

 

Name and Designation”

More Under Income Tax

Posted Under

Category : Income Tax (25162)
Type : Notifications (15278) Notifications/Circulars (30306)

Leave a Reply

Your email address will not be published. Required fields are marked *