Income-tax (12th Amendment) Rules, 1999

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....e into force on 1^st  day of June, 1999 2. In the Income-tax Rules, 1962, in rule 18BBA, after sub-rule (1A) following sub-rule shall be Inserted namely, - " ( 1B ) The certificate from an accountant which is required to be furnished by the assessee under clause (la) of sub-section (3) of section 80HHB shall be in Form No.10CCAH". 3. In Appendix II to the Income tax Rule, 1962, after form 10CCAG the following Form shall be inserted namely,- FORM NO. 10CCAH [See rule 18BBA(1B)] Certificate under clause (ia) of sub-section (3) of section 80HHB of the Income-tax Act, 1961 1. *I/We have examined the balance sheet of the business of the execution of **---------------------- ------------------------ ....

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....ormation and explanations which to the best of my/our* knowledge and belief were necessary for the purposes of ascertaining the profits of the said assessee derived from execution of foreign project, receipts of which were received by the assessee in convertible foreign exchange. 3. *I/We also certify that the amounts credited to Foreign Projects Reserve Account, from the year ----------------------to the year---------------------have been utilised for the purposes of business other than for distribution by way of dividend or profits. 4. *I/We certify that the deduction to he claimed by the assessee under section 80HHB of the Income-tax Act 1961, in respect of the assessment year ------------is Rs .------------ which has been worked o....

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.... project computed as per sub-section (3) of section 80HHB Rs.                                                2. The amount equivalent to fifty per cent of item 1 above Rs. 3. Foreign Exchange brought into India by the assessee in accordance with the provision of clause (iii) of sub-section (3) of section 80HHB Rs. 4. The amount credited to Foreign Project Reserve Account as per clause (ii) of sub-section (3) of section 80HHB Rs. 5. Deduction under section 80HHB to which the assessee is ....