Income-tax (6th Amendment), Rules, 2004

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....llowing rule further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (6th Amendment), Rules, 2004. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962,- (A) for rule 2E, the following rule shall be substituted; "2E. Guidelines for approval under clause (23G) of section....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....h the application has been made and also for the relevant part of the previous year in which the application has been made: Provided that an application made under sub-rule (1) may be accompanied by the balance sheets and profit and loss accounts for less than three previous years where an enterprise has been formed at any time during the three previous years immediately preceding the previous ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Provided that no order refusing the approval shall be passed unless an opportunity of being heard has been given to the enterprise. (6) Every enterprise approved under sub-rule (5) shall maintain books of account and get such books audited by an accountant, as defined in Explanation to sub-section (2) of section 288 and furnish the report of such audit duly signed and verified by such accounta....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....all of the circumstances referred to in clauses (a), (b) and (c) of sub-rule (7) exist, shall withdraw the approval granted under sub-rule (5). Provided that no order withdrawing the approval shall be passed unless an opportunity of being heard has been given to the enterprise. Explanation; For the purposes of this rule,-(a) the expression "enterprise" means any enterprise wholly engaged in ....