'.REGISTERED NO. D L - 3 3 ~ l 2 0 0 1 . . . . .. . . . , . .. .:, . . . . i. . . . . . . . : . . . . . . . . . .. . mm . .! .. . - ' . . . , . . . . . . ~ o ~ ~ ~ y .!,) " ,. , : . . q-q n'L-1 . . . . .:. - PART - S&ti&l 1 . . . . . . . . . . . . . .. . PUBLISHED BY' AUTHORITY Tio 51 ,3$ m, T@FiR, d 3, 2001AM 14, 1922 No. 51 h W V DELHI, S m A Y , FEBRUARY 3,200VRk4GLM 14, I922 Separate paging is given to this Part in order that it may be filed as a separatc compilation. ' 3 MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS (Legislative Department) New Delhi, the 3rd February, 2001/Magha 14,1922 (Saka) THE TAXATION LAWS (AMENDMENT) ORDINANCE, 200 1 , . . . 3 . , . No. 2 OF 2061 :. . . . . . -. ! Promulgated by the President in the Fifty-secondyear of the Republic of India. . . . , . ~ .... :.: . : . . : . . . . An Ordinance further to amend the ~ i n a n c e ~ ~ c t , 2000 and the 1ncornL-tax Act, 1961. Whereas ParLiament is not in session and the Prebident is satisfied that circumstances exist which render it necessary for him to take immediate action; NOW, THEREFON, in exercise of thepowers conferred by clause (1) of article 123 of the Constitution, the Presidsnt is pleased to promu!gats the following Ordinance:- 1, (I) This Ordinancemay be called the Taxation Laws (Amendment) Ordinance, 2001.
(2) It shall come into force at once. 10 of 2000. 2. In section 2 of the Finance Act, 2000 (hereinafter referred to as the priilcipal Act),-
(a) in sub-section (4),-- ' '(i) in clause (a), for the words "ten per cent." the words "twelve per cent." shall he substituted;
(ii) in clause (b), for the words "eleven per cent.", the words "thirteen per ent ." shall be substituted; 1 per cent." the words"'twelve pcr cent." shdl be substituted; Short title and commencement. . Amendment of section 2 of Finance Act, 2000. 2 THE GAZETIE OF INLIIA EXTRAORDINARY PART U-
(ii) in clause (b), for the words "eleven per cent.", the words "thirteen per cent." shall be substituted;
(c) in sub-section (7),- .
(i) in clause (a), for the words "ten pei cent." the words "twelve per cent." shall be substituted;
(ii) in clause (b), for the words "eleven per cent.", the words "thirteen per cent." shall be substituted;
(d) in sub-section (8), in (he third proviso, in clause (a),- - ( i ) in sub-clause (i), for the words "ten per cent.", the words "twelve per . cent." shall be substituted;
(ii) in sub-clause (ii),--- (A) i n item (A) , for the words "Len per cent.", the words "twelve per cent." shall be substituted; (B) in item (B) , for the words "fifteen per cent.", the words "seventeen per cent." shall be substituted. 1 ( E ) in sub-section (8) , in the third proviso, in clause (b), for the words "eleven per . cent.", the words "thirteen per cent." shall be substituted;
(f) in sub-section (P), in the proviso,- ( i ) ir! clause (a),-- (A) in sub-clause ( i ) , for the words "ten per cent.", the words "twelve per cent." shall be substituted; (B) in sub-clause (ii), for the words "fifteen per cent.", the words "seventeen per cent." shall be substituted;
(ii) in clause (b), for the words "ten per cent.", the words "twelve per cent." shall'be substituted. Amendment 3. In the First Schedule to the principal Act,-. ol tile First Schedule (a) in Part 11, under the heading, "Surcharge on income-taxM,--
(7) in itcm (a), for the words "ten per cent." the words "twelve per cent." shall be :,,ubsi'~~icd; .
(zi) in itcrn (b), for the words "eleven per cent.", the words "thirteen per k cent." si!iiIl b, :~;hstiiuted:
(b) in Part 111, i n Faru-;~graph A, undei the heading "Surcharge on income-tax",-
(i) in item (i),- & ( A ) In sub-item (A), for the words "ten per cent.", the words "twelve pn cent." shall be substituted; ! (B) 111 sub-itern (B) , for the words "fifteefi per cent.", fhe words "scvc k e n per cent." stmll be substituted; ( i i ) in itern (ii), for the words "tell per cent.", the words "lwelve per cent." shal! 1;c substituted; .
( c ) in Part 111, in Paragraph B, under th6 ;leading "Surc1:arge on income-tax": for the words "te~! per cent.", thc words "twelve per cer1L." shall be substiluted; - (d) 111 Part ELI, ilk Paragraph C, undcr the h.:ad;ng "Surcharge on income-tax", for the words "tec per cent.", the words "twelve per cent." shall be subslituteci;
( e ) in Par( 111, in Paragraph D, under the heading "Surcharge on income-tax", for. SEC. 11 THE GAZE?TE OF IN~IA EXTRAORDINARY 3
(f) in Part 111, in Paragraph E, under the heading "Surcharge on income-tax", for the words "eleven per cent.", the words "thirtcen per cent." shall be substituted. 43 of 1961. 4. In section 10 oftheincome-tax Act, 1961 (herein after referred io as the Income-tax Amendment Act), in'clause (23C), after the eighth proviso, the following proviso shall be inserted, section lo - of the name.Iy:- Income-tax "Provided also that any amount of donation received by the fund or institfition in A"' terms of dlause (3 of sub-szction (2) of seciion 80G which has been utilised for purposes other than providing relief to the victims of earthqua!& ininujaml or wluch remains unutilised in terms of sub-section (5C) nf section go(> and not transferred to the Prime Mi~listers' National Relief Fund on or before the 3Ist day of March, 2002 shall be deemed to be the . income of the previous year and shall accordingly be charged to tax.".
5. In section 12 of the lncdme-tax Act, after sub-sectlon (2) and the explanation Amendment thereto, the following sub-section shall be inserted, namely:- of section I?. "(3) Notwithstandil~g anything contained.in section 11, any amount of donation receited by the trust or institution in terms of clause ( d l of sub-section (2) of section 80G which has been iltilised for purposes other than providing relief to the victims of earthquake in Gujarat or which remaihs unutilised in terms of sub-section ( 5 0 of section 80G and not t~ansferred to the Prime Ministers' National Relief Fund on or b e f ~ r e the 3 1st day of March, 2002 shall be deemed to be the income of the previous year and shall accordingly be charged to tax.".
6. In section 80G of the Income-tax Act,- Amendment of section
(a) in sub-section ( I ) , in clause (i),- 80G.
(i) after t t s words, brackets, figures and letter "or in sub-clause (iiig)", the words, brackets, figures and letter "or in.sub-clause (iiiga)" shall be inserted;
(ii) after the words, letter and brackets "or in clause (c)", the words, letter and brackets "or in clause (d)" shall be inserted;
(h) in sub-section (2),- (9 in clause (a), after the sub-clause (Gig), the following sub-clause shall - be inserted, namely:- "'(iiigu) any fund set up by the State Government of Gujarat -1 exclusively . for providing relief to the victims of earthquake in Gujarat."; jii) after clause (c ) , the following clause shall be inserted, namely:- * c "(d) any sums pBd by the assessee, durlng tht? pc~ iod beginning on the 26th day of January, 2001 and ending on the 30th day of Se.ptember, ! 2W1, to any trust, institution or fund to which this section applles for providing relief to the victims of earthquake in Gujarat.";
(c) after sub-section (Sf?), the following sub-sxtion shall be inserted, namely:- "(5%) This sub-section applies i~ ; ,elation to amounts referred to In clause i d ) of sub-section (2) only if the trust or institution or fund is established in India for a charitable purpose and it fulfills the following conditioris, na=ely:-
(i) it is appraved in tenrs of clause (vi) of sub-sccti.on (5);
(ii) it maintains separate accounts of income m d expenditure for providing relief to the victims of earthquake in Gujarat; . . the 3,lst day -of March, 2002; ' . . . . . . . L 4 THE GAZETIE OF INDIA EX~R~ORD&ARY PART II--SEC. I ]
(iv) the amount of donation replaining unutilised on the 3 1 st day of March, 2002is transferred to the Prime Minister's National Relief Fund on I or before the 3 1st day of March, 2002;
(v) it renders accounts of income and expenditure to such authority and in such manner as may be prescribed, on or before the 30th day of June, 2002.". A m e n d m e n t 7. In Section 234C of theIncome-tax Act, in sub-section (I), after the second proviso, Of section the following shall beinserted, namely:-
231C. "Providd also that nothing contained in this sub-section shall apply to any shortfall in&e payment of the tax due on the retamed income where such shortfall is on account of increase in the rate of surcharge under section 2 of the Finance Act, 2000 as amended by the 'hxation Laws (Amendment) Ordinance, 2001 and the assessee has pnid the amount of shortfall on or before tlw 15111 day of March, 2001 in respect of the instalment of advance tax due on the 15th day of June, 2000, the 15th day of September, 2000 and 15th day of December, 2000,". instal nlent e. Notvdhst;nding anything conwined in the Incomc-tox Act, :hc surchirge payable of advance tax iu case of under section 2 of, and Part 111 of tl~eFirst Schedule to, the principal Act, as amended by this , additional Ordinance,- surcharge, ,' payable on
(i) in the case oi an asskssee, in respect of the ~nstalment of "advailce tax" paid 15th March, or payable on or before the 15th day of June, 2000, the 15th day of September, 2000 and
2001. the 15th day of December, 2000, shall be payable on or before the 15th day of March, 200i;
(ii) in any case in which income-tax has to be charged under sub-section (4) of section 172 or sub-section (2) of section 174 or section 175 or sub-section (2) of section 176 of the Income-tax Act, shall be payable, only where such income-tax is so charged after the date on which this Ordinan~e comes into force. I 'K. R. NARAYANAM, kd President. . . SUBHASH C. JATld, . Secy. to the Govt. of lndiii. In the Indian Council of World Affairs Orditlance, 2001 (01-d. 1 of 2001) as published in the Gazette of India, Extraordinary, Pal t 11, Section 1, dated the 5th Janua~y, 2001 (IssueNo. 4) at page 4, in line 9, for "caluse", lead "clause". AND PUBLISHED B Y THE CONTROLLER OF PUBLICATIONS, DELHI-2001.