CONTENTS I-5 PAGE RULE

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1 CONTENTS u List of Circulars/Notifications/Press Notes, etc. I-15 u Audit Reports/Report of accountant, etc., prescribed under Income-tax Rules 1 u Applications, certificates, reports, etc., prescribed under Income-tax Rules 4 u Authorities prescribed under Income-tax Rules 13 u Returns/Statements, etc., prescribed under Income-tax Rules 18 2A House rent allowance 25 2B Leave travel concession 34 2BA Amount received on voluntary retirement 39 2BB Special allowances 51 2BBA Family pension to heirs of members of Armed Forces 55 2BBB Percentage of Govt. grant for considering university, etc., as substantially financed by Govt. for purposes of section 10(23C) 56 2BC Exemption for income of universities/ educational institutions/hospitals, etc. 57 2C Charitable/religious trusts/institutions, etc. 60 2CA Exemption for income of universities/ educational institutions/hospitals/medical institutions having annual receipts exceeding Rs. 1 crore 66 2D Venture capital fund and venture capital company 92 I-5

2 CONTENTS I-6 2DA 2E 2F Venture capital fund or venture capital company 96 Exemption to infrastructure capital fund and infrastructure capital companies 99 Guidelines for setting up Infrastructure debt fund Valuation of perquisites 107 3A Exemption to medical benefits/perquisites Unrealised rent Depreciation 205 5A Additional depreciation to industrial undertakings 254 5AC Tea/Coffee/Rubber development account 256 5AD Site restoration fund 257 5C to 5E 5F Guidelines, conditions, etc., in respect of approval under clauses (ii) and (iii) of section 35(1) 258 Guidelines, conditions, etc., in respect of approval under clause (iia) of section 35(1) 263 5G Tax on income from patent Expenditure on scientific research 267 6A 6AAC Expenditure for obtaining right to use spectrum for telecommunication services 272 Expenditure on conservation of natural resources 274 6AAD & Agricultural extension project 275 6AAE 6AAF & Skill development project 304 6AAH 6AB Amortisation of preliminary expenses, etc ABA Provision for bad and doubtful debts 311 6ABAA Conditions for being notified as infrastructural facility 312 6ABB Deduction for Y2K expenses 314

3 I-7 CONTENTS 6DD Disallowance of cash payments 315 6DDA & Speculative transactions - Derivatives 339 6DDB 6DDC & Speculative transactions - Commodity derivatives 347 6DDD 6E Insurance business - Reserves for unexpired risks 352 6EA & Categories of bad or doubtful debts in case 353 6EB of public company 6F Maintenance of books of account 356 6G Report of audit of accounts 366 6GA 6H Computation of income by way of royalties, etc., in case of non-residents 372 Computation of capital gains in case of slump sale Income which is partially agricultural and partially from business 376 7A Income from the manufacture of rubber 383 7B Income from the manufacture of coffee Income from manufacture of tea 391 8AA Capital assets 400 8B & 8C Zero Coupon Bonds 401 8D Method for determining amount of expenditure in relation to income not includible in total income 409 9A & 9B Amortisation of expenditure on feature films 452 9C Carry forward and set off of accumulated loss and unabsorbed depreciation allowance in case of amalgamation Determination of income in case of nonresidents A to Transfer Pricing THD 10DB Furnishing of report in respect of International Group 773

4 CONTENTS I-8 10U to General Anti-Avoidance Rules UC 10V to Certain activities not to constitute business 10VB connection in India A Deductions to persons with disability or severe disability AA Approval of institutions/funds for purposes of section 80G B Deduction in respect of rents paid C Deduction in respect of foreign remuneration to technicians DD Deduction in respect of medical treatment for specified diseases EA Deduction to industrial undertakings located in industrially backward districts F to 11-O National committee for promotion of social and economic welfare OA Guidelines for notification of affordable housing project as specified business under section 35AD OB Guidelines for notification of a semi-conductor wafer fabrication manufacturing unit as specified business under section 35AD P to 11T Tonnage tax scheme for shipping companies U, 11UA Valuation of gifts 842 & 11UAA 11UB & Indirect transfer - Manner of determination of UC Fair Market Value & reporting requirement for Indian concern 12 Return of income A Preparation of return by authorised representative B Tax on distributed income by UTI/Mutual Fund 910

5 I-9 CONTENTS 12BA 12C Tax on distributed income by Securitisation Trust 912 Tax on income received from Venture Capital Companies/Funds CA Business Trust CB Investment fund CC Securitization Trust D Power to call for information by prescribed Income-tax Authority E Prescribed authority under section 143(2) Inquiry before assessment - Form of verification A Inquiry before assessment - Special audit B Guidelines for purposes of determining expenses for Special Audit Notice of demand Avoidance of repetitive appeals B Exemption in respect of remuneration to consultants, etc C Exemption to Employees Welfare Funds CC Audit report to be furnished by certain entities referred to in section 10(23C) D Free Trade Zones, industrial undertakings in DD Special Economic Zones, undertakings in E Export Oriented Undertakings F Export undertakings Exercise of option under section A & 17B Registration, etc., of charitable/religious trusts C Modes of investment by charitable/religious trusts CA Electoral Trust CB Tax on accreted income of a trust D Prescribed foreign projects for purposes of section 80HHB 978

6 CONTENTS I-10 18AAA Donations to universities/educational institutions AAAA Donations towards Gujarat Earthquake Relief AAAAA 18AAB 18BBA Deduction on donations to games/sports associations/institutions 982 Deduction to companies engaged in scientific and industrial research 984 Form of reports, etc., under sections 80HHB, 80HHBA, 80HHC, 80HHD, 80HHE and 80HHF BBB Deductions to undertakings, hotels, etc BBC Deduction to hotels located in certain areas BBD 18BBE 18C 18D & Deduction to scientific/industrial research companies 996 Deduction from profits of certain activities forming part of a Highway project 997 Deduction to undertakings operating notified industrial parks 1001 Deductions to companies carrying on 18DA Scientific Research and Development DB Deduction to multiplex theatres DC Deduction to convention centres DD Deduction to hospital in rural area DDA 18DE 19AB 19AC Deduction to hospital located anywhere in India other than excluded areas 1020 Deduction to new convention centres located in specified areas 1022 Deduction in respect of employment of new workmen 1024 Deduction in respect of royalty income, etc., of authors of certain books other than text books AD Deduction in respect of royalty on patents AE Deduction in respect of certain incomes of Offshore Banking Units & 20A Weighted tax rebate for investment in certain areas 1029

7 I-11 CONTENTS 20AB 21A 21AA 21AB 21AC Evidence of payment of Securities Transaction Tax 1031 Relief when salary is received in arrears or in advance 1032 Relief on salary in the case of specified employees 1037 Tax Residency Certificate for claiming double taxation relief 1038 Transactions with persons located in notified jurisdictional areas AD Tax on income of certain domestic companies to 29 Deduction/Collection of tax at source 1044 & 29B to 37H 29A 29AA Deduction in respect of certain items of receipts from foreign sources 1485 Deduction in respect of royalties, etc., from certain foreign enterprises Notice of demand for advance tax Estimate of advance tax B Minimum alternate tax for companies BA 40BB Alternate minimum tax for limited liability partnerships 1491 Tax on distributed income of domestic company for buy-back of shares C, 40D, Fringe Benefit Tax E & 40F 41 Refund claims to 44 Tax clearance certificate C, 44CA Settlement Commission 1516 & 44D 44E & 44F Advance rulings G & 44H Mutual Agreement Procedure to 46A Appeal to Commissioner (Appeals) Appeal to Appellate Tribunal 1555

8 CONTENTS I Reference to High Court to 66 Authorised representative to 81 Recognised provident funds to 97 Approved superannuation funds to 111 Approved gratuity funds AA Conditions for reference to Valuation 1610 & 111AB Officer 111B Publication and circulation of Board s order to Search and seizure C 112D Requisition of books of account, etc E Collection of information F Search cases where compulsory reopening of past six years not required Disclosure of information respecting assessees Permanent Account Number A Tax Deduction and Collection Account Number AA Tax Collection Account Number B to Quoting of Permanent Account Number in 114D documents pertaining to certain prescribed transactions DA Furnishing of annual statement by a nonresident having liaison office in India DB Furnishing of information or documents by Indian concern in certain cases E to Obligation to furnish/statement of financial 114H transaction or reportable account Rate of exchange for conversion of income in foreign currency A Computation of capital gains on transfer of shares/debentures by non-residents B & Certificate to Tax Recovery Officer C 119A Procedure for calculation of interest 1750

9 I-13 CONTENTS 121A Statement by producers of cinematograph films Electronic payment of tax Residential status Service of notice A Authentication of notices and other documents Foreign Tax Credit Immunity from prosecution under section 270AA 1770

1 Basic concepts. 2 Residential status and tax incidence. u A few words from the authors I-5 u About the authors I-7 u Section-wise Index I-25 I-9

1 Basic concepts. 2 Residential status and tax incidence. u A few words from the authors I-5 u About the authors I-7 u Section-wise Index I-25 I-9 Contents u A few words from the authors I-5 u About the authors I-7 u Section-wise Index I-25 1 Basic concepts 1. Assessment year 1 2. Previous year 1 3. Person 5 4. Assessee 6 5. Charge of income-tax