Document text
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 29th December, 2021
INCOME-TAX
G.S.R. 903(E).— In exercise of the powers conferred by sub-section (5) of section 10A read with
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. Short title and commencement. –– (1) These rules may be called the Income-tax (35th Amendment)
Rules, 2021.
(2) They shall be deemed to have come into force from the 29th day of July, 2021.
2. In the Income-tax Rules, 1962 (hereinafter referred to as principal rules), after rule 16D, the following
rule shall be inserted, namely:––
―16DD. Form of particulars to be furnished along with 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-section (1B) of section 10A shall be
in Form No. 56FF.‖
4
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
3.
In the principal rules, in rule 130,–
(a) in sub-rule (1), the figures and letters ―16DD‖ shall be omitted;
(b) in sub-rule (2), the figures and letters ―56FF‖ shall be omitted.
4. In the principal rules, in Appendix II, after Form 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)
(1)
(2)
(3)
(4)
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 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 (i)+(ii)+(iii)+(iv)
II
Amounts
withdrawn
from
the
Special
Economic
Zone
Reinvestment Allowance Reserve Account:
Used for
eligible
purposes
Not used
for
eligible
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
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 plant/machinery purchased out of amounts withdrawn from Special Economic Zone
Reinvestment Allowance Reserve Account
S. No.
Details of the new plant/
machinery (give Make
Number and Model
Number)
Name and address of
the supplier of the
new plant/ machinery
Date(s) of
acquisition of
plant/ machinery
Date(s) on which
the new plant/
machinery was
first put to use
[भागII—खण् ड 3(i)]
भारत का राजपत्र : असाधारण
5
Verification
I/We,…. s/o………………….. being proprietor/partner/director of the undertaking named ……. having
[Permanent Account Number or Aadhaar Number] …… situated in the Special Economic Zone …….
Verify that the said undertaking 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
Place: ..…………..
the proprietor/partner/director of the undertaking.‖.
[Notification No. 140 /2021/F. No. 370142/59/2021-TPL]
ANKIT JAIN, Under Secy.
Note : The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-
section (ii) vide notification number S.O. 969 (E), dated the 26th March, 1962 and last amended
vide notification number G.S.R. 883 (E), dated 27th December, 2021.
Explanatory Memorandum:– Rule 130 was brought into force from the 29th day of July, 2021 where
reference to rule 16DD in sub-rule (1) thereof and Form 56FF in sub-rule (2) thereof were inadvertently
mentioned. The intention of the Board is to continue with the rule 16DD and Form 56FF. Hence, it is
proposed to give retrospective effect to maintain continuity. It is certified that no person is being adversely
affected by granting retrospective effect to this notification.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.
