INCOME-TAX (NINTH AMENDMENT) RULES, 2011
NOTIFICATION NO. S.O. 2724(E) [NO. 60/2011 (F. NO. 133/70/2011-SO(TPL))], DATED 1-12-2011
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 (9th Amendment) Rules, 2011.
(2) They shall come into force on the 1st day of April, 2012.
2. In the Income-tax Rules, 1962, (hereafter referred to as the “said rules”), after rule 40B, the following rule shall be inserted, namely:-
“Special provisions for payment of tax by certain limited liability partnerships
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, after Form No.29B, the following form shall be inserted, 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 limited liability partnership
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.
Date. . . . . . . . . . . . . . . . . . . .
Signed
†Accountant
Notes:
1. *Delete whichever is not applicable.
2. †This report 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.
ANNEXURE A
[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 | ||||
4. | Assessment year | ||||
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 | ||||
6. | Income-tax payable on total income referred to in Column 5 above | ||||
7. | The amount of deduction claimed under any section 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. | Alternate Minimum Tax (18.5% of adjusted total income computed in column 9 above)” |