Notification No. : 203
Section(s) Referred :
Date of Issue : 26/8/2003
Notification No. 203 of 2003, dt. 26th Aug., 2003
In exercise of powers conferred by section 295, read with clause (b) of subsection (1B) 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 (Fifteenth Amendment) Rules, 2003.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Income-tax Rules, 1962,–
(i) after rule 16D, the following shall be inserted, namely
“16DD. Form of particulars to be furnished along th return of income for claiming deduction under clause (b) of sub-section (1B) of section 10A.-The particulars, which are required to be furnished by the assessee along with the return of income under clause (b) of sub-s. (1B) of section 10A shall be inserted in Form No. 56FF. ”
(ii) in Appendix II, after From No. 56F, the following Form shall be inserted, namely :
“FORM NO. 56FF
[See rule 16DD]
PARTICULARS TO BE FURNISHED UNDER CLAUSE (b) OF SUB-SECTION (1B) OF
SECTION 10A OF THE INCOME TAX ACT, 1961
A. Details of Special Economic Zone Reinvestment Allowance Reserve Account (in rupees)
I. Amounts of eligible profits debited to the
profit and loss account and credited to the
Special Economic Zone Reinvestment
Allowance Reserve Account
(i) During the current previous year ending
on …… .
(ii) During the previous year, immediately
preceding the previous year mentioned at (i)
ending on …….
(iii) During the previous year, immediately
proceeding the previous year mentioned at (ii)
ending on ……..
(iv) During the previous year, immediately
preceding the previous year mentioned at (iii)
ending on …….
(v) Total (i) + (ii) + (iii) + (iv)
II. Amounts withdrawn from the Special Used for Not used
Economic Zone Reinvestment Allowance eligible for eligible
Reserve Account purposes purposes
(i) During the current previous year ending
on ……..
(ii) During the previous year, immediately
preceding the previous year mentioned at (i)
ending on …….
(iii) During the previous year, immediately
preceding the previous year mentioned at (ii)
ending on
(iv) During the previous year immediately
preceding the previous year mentioned at (iii)
ending on
(v) Total amounts withdrawn [(i)+(ii)+(iii)+(iv)]
III. Net amount outstanding in the Special
Economic Zone Reinvestment Allowance
Reserve Account on the last day of the
current previous year ending on …………..
[II.(v)- I.(v)]
B. Details of new plantlmachinery purchased out of amounts withdrawn from Special Economic
Zone Reinvestinent Allowance Reserve Account.
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S. Details of the Name and Date(s) of Date(s) on
No. new plant/ address of the acquisition of which the new
machinery supplier of the plant/machinery plant/machinery
(give Make new was first put to
Number and plant/machinery use
Model Number)
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VERIFICATION
I/We…………………………………………………………. S/o………………..
………………………………….. being proprietor/partner/director of the undertaking
named ……………….. having PAN No……………….. situated in the Special Economic
Zone…………………………. verify that the said undertaking has during the previous
year, acquired the new plant/machinery as mentioned above, for which the purchase price has been
paid by making withdrawal from the Special Economic Zone Reinvestment Allowance Reserve Account
maintained by the assessee.
Date : Signature, name and address of the
Place: proprietor/partner/director of the undertaking
[F.No. 142/21/2003-TPL]
