INCOME-TAX (NINTH AMENDMENT) RULES, 2012
NOTIFICATION NO. S.O. 1979(E) [NO. 34/2012 (F.NO. 142/22/2012-SO(TPL))], DATED 28-8-2012
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 (Ninth Amendment) Rules, 2012.
(2) They shall come into force on the 1st day of April, 2013.
2. In the Income-tax Rules, 1962, (hereafter referred to as the “said rules”), for rule 40BA, the following rule shall be substituted, namely:-
“Special provisions for payment of tax by certain persons other than a company.
40BA. The report of an accountant which is required to be furnished by the assessee under sub-section (3) of section 115JC, shall be in form No. 29C”.
3. In Appendix-II of the said rules, for Form No. 29C, the following form shall be substituted, namely:-
“FORM NO. 29C
[See rule 40BA]
Report under section 115JC of the Income-tax Act, 1961 for computing adjusted total income and alternate minimum tax of the person other than a company
1. I/We* have examined the accounts and records of_____________ (name and address of the assessee with PAN) engaged in business of _______________ (nature of business) in order to arrive at the adjusted total income and the alternate minimum tax for the year ended on the 31st March, _____
2. (a) I/We* certify that the adjusted total income and the alternate minimum tax has been computed in accordance with the provisions of Chapter XII-BA of the Income-tax Act. The tax payable under section 115JC of the Income-tax Act in respect of the assessment year ____________ is Rs. ________, which has been determined on the basis of the details in Annexure A to this Form.
3. In my/our * opinion and to the best of my/our* knowledge and according to the explanations given to me/us* the particulars given in the Annexure A are true and correct.
(Signature and Stamp/Seal of the Signatory)
|Place:||Name of the Signatory:|
1. *Delete whichever is not applicable.
2. †This certificate is to be given by –
|(i)||a chartered accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949); or|
|(ii)||any person, who in relation to any State, is, by virtue of the provisions in sub-section (2) of section 226 of the Companies Act, 1956 (1 of 1956), entitled to be appointed to act as an auditor of companies registered in that State.|
3. Where any of the matters stated in this report is answered in the negative or with a qualification, the report shall state the reasons therefor.
[See paragraph 2]
Details relating to the computation of Adjusted Total Income and Alternate Minimum Tax for the purposes of section 115JC of the Income-tax Act, 1961
|1.||Name of the assessee|
|2.||Address of assessee|
|3.||Permanent Account Number|
|5.||Total income of the assessee computed in the manner laid down in the Income-tax Act before giving effect to Chapter XII-BA of the Income-tax Act, 1961(43 of 1961)|
|6.||Income-tax payable on total income referred to in Column 5 above|
|7.||The amount of deduction claimed under any section (other than section 80P) included in Chapter VI-A under the heading “C. – Deductions in respect of certain incomes”||Sl. No.||Section under which deduction claimed||Amount of deduction claimed|
|8.||The amount of deduction claimed under section 10AA|
|9.||Adjusted total income of the assessee (5+7+8)|
|10.||Minimum alternate tax (18.5% of adjusted total income computed in column 9 above)”.|