Income-tax (28th Amendment) Rules, 1998 - S.O. 1113(E) - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (Central Board of Direct Taxes) NOTIFICATION NO. 10754 New Delhi, the 24 th December, 1998 INCOME-TAX S.O. 1113(E) .In exercise of the powers conferred by 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. (1) These rules may be called the Income-tax (28th Amendment) Rules, 1998 (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 , after rule 18BBE the following rule shall be inserted, namely :- 18C Eligibility of Industrial Parks for benefits u/s 80IA(4D) of the Income-tax Act, 1961 (1) The undertaking shall begin to operate an industrial park during the period beginning on the 1st day of April, 1997 and ending on the 31 st day of March, 2002. (2) The undertaking shall be duly approved by the Ministry of Industry in the Central Government under the scheme for industrial park notified by that Ministry. (3) The undertaking shall continue to fulfil the conditions envisaged in the scheme. (4) On approval under sub-rule (2), the Central Board of Direct Taxes, shall notify industrial parks for benefits under section 80IA. [F. No. 142/49/97-TPL] SUNITI SRIVASTAVA, Under Secy.