Site Restoration Fund Scheme 1999

 
FREE EXCERPT

S.O.118 (E) In exercise of the powers conferred by sub-section (1) of Section 33ABA of the Income Tax Act, 1961 (43 of 1961), the Ministry of Petroleum and Natural Gas hereby notifies the following approved Scheme, namely -

1. Short title and application

2. Definition

(a) "Act means the Income Tax Act, 1961

(b) "account" means a deposit account under this Scheme

(c) "deposit office" means a designated branch of the State Bank of India where the account is maintained

(d) "depositor" means an assessee mentioned in sub-paragraph (3) of paragraph 1 of this Scheme

(e) "State Bank of India" means the State Bank of India constituted under sub section (1) of Section 3 of the State Bank of India Act, 1955 (23 of 1955)

(f) the expression "previous year" shall have the meaning assigned to it in the Income Tax Act, 1961(43 of 1961), "financial year" means year ended 31st March and all other words and expressions used herein shall have the meanings assigned to them in the Agreement to which assessee is a party.

3. Deposit: how to be made -

4. Manner of deposit -

5. Issue of duplicate statement -

In the event of loss or destruction of the acknowledgement or statement of account referred to in sub-paragraph (4) or sub-paragraph (5) of paragraph 4, the deposit office may, on an application made to it in this behalf, issue a duplicate thereof.

6. Interest -

7. Charge, assignment -

8. Withdrawal and utilization of the amounts deposited -

A depositor...

To continue reading

REQUEST YOUR TRIAL