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 Income-tax (27th Amendment) Rules, 2016 - 92/2016

Income-tax (14th Amendment) Rules, 2014
December, 18th 2014
                                   Govenmlent of India,
                                    Ministry of Finance,
                                  Deparhnent of Revenue
                               (Cenh'al Board of Direct Taxes)


                                                        New Delhi, the 12tl1 October, 2014.


 5.0. 3169
       _(E).- In exercise of the powers conferred by sub-chiuse (xiii) of dause (c) of
 sub-section (8) of section 35AD read with section 295 of the Income-tax Act, 1961 (43
 of 1961), the Central Board of Direct Taxes hereby makes the following mles further
 to amend the Income-tax Rules, 1962, namely:-

1.    (1) These rules may be called the Income-tax (14th Amendment) Rules, 2014.
      (2) They shall come into force on the date oftheir publication in the Official

2.      In the Income-tax Rules, 1962,
(i)after rule ll-OA, the following rule shall be inserted, namely:-

"Guidelines for notification of a semiconductor wafer fabrication manufacturing
unit as specified business under section 35AD.

ll-OB. (1) The notification of a semiconductor wafer fabrication manufacturing unit
as a specified business lUlder sub-dause (xiii) of clause (c) of sub-section (8) of
section 35AD of the Act shall be in accordance with the following procedme,

 (a) . the applicant shall apply for notification of the lmit in Form No. 3CS to
     Member (Income-tax), Central Board of Direct Taxes, Department of Revenue,
     iVIinishy of Finance, North Block, New Dellii;

 (b) the Board shall serve a deficiency letter on the applicant if any defect is noticed
     in the application in Form No. 3CS or if any relevant document is not attached

· (c) the applicant shall remove the deficiency withul a period of fifteen days from
     the date of service of the deficiency letter or within such nuther period which,
    on an application made in this behalf may be extended;

(d) if the applicant fails to remove the deficiency withul the period so allowed, the
    Board,   if.satisfied, may pass an order treati1lg the application as mvalid;
(e) the Board may call for such documents or uuormation from the applicant as it
    may consider necessmy and may call for further details or mformation from the
    applicant as well as from the u1Come-tax authorities and other Departments or
    agencies, as it may deem fit;

(f) the Board may, after considermg the application and the documents or the

    information referred to m         clause (e), either issue the notification to be
    published in the Official Gazette granting approval to the unit or for reasons to
    be recorded m writi1lg reject the application.

(g) TIle Board may, withdraw the approval if it is satisfied that: ---

       (i)   the assessee has ceased its activities relating to the specified business;
      (il)   such     activities are not genuule or are not beillg carried out ill
       accordance with all or any of the conditions l.mder section 35AD or under
      this rule; or
     (iii)   the    approval   granted    bv   the    competent    authority   on   the
      reC0l1U11endations of the Appraisal Committee under the Modified SpeCial
      Incentive Package Scheme of the                Department of Electronics and
      Information Technology has been withdrawn.
    (h) no order treating the application as invalid or rejecting the application or
       withdrawing the approval or cancellation of the notification, shall be passed
       without giving an oppmhmity of being heard to the assessee;

   (i) a copy of the order invalidating or rejecting the application or withdrawing the
       approval shall be conmmnicated to the applicant and the Assessing Officer and
       the Commissioner having jurisdiction over the assessee.

   (2) A unit shall be considered for notification if it fulfils all of the following
   conditions, namely: --

        (a) the milt shall be exclusively for the manufacture of semiconductor wafer
        fa brica tions;
        (b)the unit shall have prim approval of the competent authority on the
       . recommendations of Appraisal Committee lmder the Modified Special
        Incentive Package Scheme      notified by the Department of Electronics and
        Information Tec1mology, Ministry of Commurlications and Information
       Teclmology , Government of India;
       (c)the date of commencement of operations of the unit shall be on or after the
       1st day of April 2014;
       (d)the unit may have one or more manufacturing facilities and all the facilities
       shall be located in India;

(3) The assessee shall maintain separate books of accolmts for the lmit with complete
details of all capital expendihue incmred dming the previous year on wruch it
llltends to claim the said deduction under section 35AD and shall file the relevant
lllcome-tax returns by the due date to the Income-tax Department to avail the tax
benefit under section 35AD.

(4) A mlit notified mlder sub-clause (xiii) of clause (c) of sub-section (8) of section
35AD shall contlllUe to be governed by the provisions of this rule to the extent it is
not III contravention with the provisions of the Act, as amended from time to time.

(5) In this rule and the Form,-

(a)"competent authority" means the authority approving the lmit under             the
Modified Special Incentive Package Scheme notified by the Govermnent of India,
Ministry   of Communications and Information Tedmology, Department of
Elech-onics and Information Technology;

(b) "date of commencement of operations" means the date on which the conunerciaI
production of the unit commences;

(c)"sernicondllctor wafer fabrications" means integrated circuits which are covered
in the National Industrial Classification, 2008   tmder Division 26; Group 261; Class
2610 ;Sub class 26103;

(d)"Unit" means manufacturing facility for semiconductor wafer fabrications;"

  (ii)in Appendix II, afteI FOIm No. 3CR, the following Form shall be inserted,

                                          [See rule 11-0B(1)(a)]

              Application for notification of a semiconductor wafer fabrication
               manufachlring unit as specified business under section 35AD

 1.1     Name and address of the specified business (in full, block letters):-

1.2      Details of the assessee:-

 (i)     Name (ll1 hIll, block letters) _ _ _ _ _ _ _ _ _ _ _ _ _----'_ __

(ii)     Is there any change in the name? If yes, please hlmish the old name

(iii)   PAN            I I I I

(iv)    Complete address _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __

(v)     Office              Phone             Number           (with      STD          code)

(vi)    Mobile              No.                                        Email        Address

(vii)   Date of incorporation/formation (DD/MM/YYYY)                    1/ I I I I I I I
        (whichever appllcable)
                                  - - I
                                I  I
(viii) Stat1lS                  '- '

        [pllblic compnll y - 1,       privnte compally-2,     partnership finn - 3,      loml
       authority -4,      coopemtiue society - 5,         LLP - 6,        A OP/BOI artifidal
       jl/ridical person - 7,      il1dividllal - 8,    HUF - 9,        any other person - 10
        Ijl/ense specify:                                 )]

 (ix)          If Cl dOl;nestic company (Tick) 0       o
 (x)           Incomectax Ward/Circle _ _ _ _ _ _ _ _ _ _ _ _ __

 (xi)          Residential Status (Tick) 0                        o
                                                   Resident Non-Resident

2.1            Location of the proposed unit:-

(i)        Name of the unit (if any) _ _ _ _ _ _ _ _ _ _ __

(ii)       Compl~te     address of location/locations of the proposed unit-
                  a) Location 1. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __

                  b) Location 2. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __

2.2       Expected or actual date of commencement of operations of the unit

3.1     Whether each of the following conditions mentioned in sub-rule (2) of rule
11-     OB is fulfilled:-

        ! a)      , the unit is exclusively for the manufacture of I Yes/No
                    semiconductor wafer fabrications.              i
                  i the lmit has been approved by the competent I Yes/ No
                     '      ...
                                on the reconul1endations of the        I

                 : Appraisal Committee Imder the Modified Special      I
                 : Incentive Package Scheme of the Department of
                 i Elect·onics and Information Teclmology, lYfuust)'   I
                 : of Conul1Ulucations and Information Teclmology      I
                 · , Government of India                               i
        : c)                                                           I
                 ; the date of commencement of operations of the Yes/ No
                 · project is 011 or after the 1st day of April 2014;  I
        i d)     ; all the facilities of the luut are I Yes/No
                 i l~~d~~dia;                                          I

    3.2    If answer to 3.1 (b) above is 'yes', then

               (a)Date of approval under the Modified Special Incentive Package Scheme
               of the Department of Elech'onics and Information Technology; _ __

               (b)Order No of such approval _ _ _ _ _ __


    IjWe hereby undertake to contllme to operate the.... ..... unit during the
    period ............... in accordance with the provisions of section 35AD of the Income-
    tax Act, 1961.

    I/We hereby certify that the above statements are QJ,le and correct to the best of
    my / our know ledge and belief.
                                                                         (Signahue of Applicant)

                                                                         (Name in Block Letters)

Place: _ _ _ _ __                                                 (Designation of the Signatory)

Date: _ _ _ _ __

List of EncJosures:-
1. _ _ _ _ _ __                                          :J. _ _ _ _ _ _ _ __

2. _ _ _ _ _ _ __                                        6. _ _ _ _ _ _ __
.J. _ _ _ _ _ _ __                                       7. _ _ _ _ _ _ _~
4. _ _ _ _ _ __

      Note .-- The principal rules were published in thVVVe Gazette of India vide notification
                  S.O. 969 dated the :26'h March, 196:2 and was last amended by. vide notification
                  S.0.3015 (E) elated :28/1112014.

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