TMI BlogIncome-tax (Ninth Amendment) Rules, 2006X X X X Extracts X X X X X X X X Extracts X X X X ..... sub-item shall be substituted, namely (b) If there is any change in the partners or members or in their profit sharing ratio since the last date of the preceding year, the particulars of such change; (ii) in item 8, for sub-item (a), the following sub-item shall be substituted namely:- (a) Nature of business or profession (if more than one business or profession is carried on during the previous year, nature of every business or profession).; (iii) after item 12, the following item shall be inserted, namely: 12A Give the following particulars of the capital asset converted into stock-in-trade: - (a) Description of capital asset, (b) Date of acquisition; (c) Cost of acquisition; (d) Amount at which the asset is converted i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the words, brackets, letters and figures clauses (a), (c), (d) or (e) of section 43B, the words, brackets, letters and figures clauses (a), (b), (c), (d), (e)or (f) of section 43B shall be substituted, (b) sub-item (ii) shall be omitted; (viii) in item 24, after sub-item (b), the following sub-item shall be inserted, namely:- (c) Whether a certificate has been obtained from the assessee regarding taking or accepting loan or deposit, or repayment of the same through an account payee cheque or an account payee bank draft. [Yes/No] The particulars (i) to (iv) at (b) and the Certificate at (c) above need not be given in the case of a repayment of any loan or deposit taken or accepted from Government, Government company, banking compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... usiness or profession in respect of every business or profession carried on during the previous year shall be substituted; (ii) in Sl. No. 1, for the words Paid-up share capital, the words Paid-up share capital/capital of partner/proprietor shall be substituted; (iii) in Sl. No. 2, for the words Share Application Money, the words Share Application Money/Current Account of Partner or Proprietor, if any, shall be substituted; (iv) in Sl. No 3, for the words Reserves and Surplus, the words Reserves and Surplus/Profit and Loss Account shall be substituted; (v) in Sl. No. 8, for the words Gross turnover, the words Gross turnover/gross receipts shall be substituted, (vi) in Sl. No 15, for the words and brackets Net Profit (or loss) befo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Provision of Hospitality of every kind by the employer to any person (see Note 2) 20% (see Note 3) 5. 115WB(2)(C) Conference (other than fee for participation by the employees in any conference (see Note 4) 20% 6. 115WB(2)(D) Sales promotion including publicity (see Note 5) 20% 7. 115WB(2)(E) Employees Welfare (see Note 6) 20% 8. 115WB(2)(F) Conveyance, tour and travel (including foreign travel) ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 17. 115WB(2)(O) Gifts 50% 18. 115WB(2)(P) Scholarships 50% 19. 115WB(2)(Q) Tour and Travel (including foreign travel) (see Note 12) 5% 20. Total Notes : 1. For assessment year 2007-08 and subsequent assessment years, the value of fringe benefits in respect of contribution by the employer to an approved superannuation fund shall be the amount of contribution which exceeds one lakh rupee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iv) the expenditure on the publication in any print or electronic media of any notice required to be published by or under any law or by an order of a court or Tribunal, (v) the expenditure on advertisement by way of signs, art work, painting, banners, awnings, direct mail, electric spectaculars, kiosks, hoardings, bill boards or by way of such other medium of advertisement, (vi) the expenditure by way of payment of any advertising agency for the purposes of clauses (i) to (v) above. (vii) the expenditure on distribution of free samples of medicines or of medical equipment, to doctors (not to be considered as expenditure on sales promotion, including publicity for assessment year 2007-08 and subsequent assessment years). (viii) th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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