Income-tax (14th Amendment) Rules, 2014 - Guidelines for notification of a semiconductor wafer fabrication manufacturing unit as specified business under section 35AD.

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....ax (14th Amendment) Rules, 2014. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, (i) after rule 11-OA, the following rule shall be inserted, namely:- "Guidelines for notification of a semiconductor wafer fabrication manufacturing unit as specified business under section 35AD. 11-OB. (1) The notification of a semiconductor wafer fabrication manufacturing unit as a specified business under sub-clause (xiii) of clause (c) of sub-section (8) of section 35AD of the Act shall be in accordance with the following procedure, namely:- (a) the applicant shall apply for notification of the unit in Form No. 3CS to Member (Income-tax), Central Board of Direct Taxes, De....

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....approval granted by the competent authority on the recommendations 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the Modified Special Incentive Package Scheme of the Department of Electronics and Information Technology has been withdrawn.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 opportunity of being heard to the assessee; (i) a copy of the order invalidating or rejecting the application or withdrawing the approval shall be communicated 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 followin....

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....echnology, Department of Electronics and Information Technology; (b) "date of commencement of operations" means the date on which the commercial production of the unit commences; (c) "semiconductor wafer fabrications" means integrated circuits which are covered in the National Industrial Classification, 2008 under Division 26; Group 261; Class 261; Sub class 26103; (d) "Unit" means manufacturing facility for semiconductor wafer fabrications:" (ii) in Appendix II, after Form No. 3CR, the following Form shall be inserted, namely:- FORM NO. 3CS [See rule 11-OB(1)(a)] Application for notification of a semiconductor wafer fabrication manufacturing unit as specified business under section 35AD 1.1 Name a....

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....r 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 semiconductor wafer fabrications. Yes/No b) the unit has been approved by the competent authority on the recommendations of the Appraisal Committee under the Modified Special Incentive Package Scheme of the Department of Electronics and Information Technology, Ministry of Communications and Information Technology Government of India Yes/No c) the date of commencement of operations of the project is on or after the 1st day or April 2014; Yes/No d) all the manufacturing facilities of the unit are located in India; Yes/No ....