India - Income Tax Act 2010 - Saarc

1.573 CH. XII-C - SPECIAL PROVISIONS RELATING TO RETAIL TRADE, ETC. S. 115N(3) Nothing contained in sub-section (1) shall affect the determination of theamounts in relation to the relevant previous year to be carried forward to thesubsequent year or years under the provisions of sub-section (2) of section 32 orsub-section (3) of section 32A or clause (ii) of sub-section (1) of section 72 orsection 73 or section 74 or sub-section (3) of section 74A.(4) Every company to which this section applies, shall furnish a report in theprescribed form 7 from an accountant as defined in the Explanation below subsection(2) of section 288, certifying that the book profit has been computed inaccordance with the provisions of this section along with the return of incomefiled under sub-section (1) of section 139 or along with the return of incomefurnished in response to a notice under clause (i) of sub-section (1) of section 142.(5) Save as otherwise provided in this section, all other provisions of this Act shallapply to every assessee, being a company, mentioned in this section.]8[(6) The provisions of this section shall not apply to the income accrued or arisingon or after the 1st day of April, 2005 from any business carried on, or servicesrendered, by an entrepreneur or a Developer, in a Unit or Special Economic Zone,as the case may be.]CHAPTER XII-CSPECIAL PROVISIONS RELATING TO RETAIL TRADE, ETC.[Chapter XII-C, consisting of sections 115K to 115N, omitted by the Finance Act,1997, w.e.f. 1-4-1998. Earlier Chapter XII-C was inserted by the Finance Act, 1992,w.e.f. 1-4-1993.]Special provision for computation of income in certain cases.115K. 9 [Omitted by the Finance Act, 1997, w.e.f. 1-4-1998.]Return of income not to be filed in certain cases.115L. 10 [Omitted by the Finance Act, 1997, w.e.f. 1-4-1998.]Special provision for disallowance of deductions and rebate of income-tax.115M. 11 [Omitted by the Finance Act, 1997, w.e.f. 1-4-1998.]Bar of proceedings in certain cases.115N. 12 [Omitted by the Finance Act, 1997, w.e.f. 1-4-1998.]7. See rule 40B and Form No. 29B. Rule 12 provides that the return of income shall not beaccompanied by any document or copy of any account or form or report of audit requiredto be attached with return of income under any of the provisions of the Act.8. Inserted by the Special Economic Zones Act, 2005, w.e.f. 10-2-2006.9. Prior to its omission, section 115K was inserted by the Finance Act, 1992, w.e.f. 1-4-1993,and later on amended by the Finance Act, 1993, w.e.f. 1-4-1993/1-4-1994, the Finance Act,1994, w.e.f. 1-4-1995, the Finance Act, 1995, w.e.f. 1-4-1996 and the Finance (No. 2) Act,1996, w.e.f. 1-4-1997.10. Prior to its omission, section 115L was inserted by the Finance Act, 1992, w.e.f. 1-4-1993.11. Prior to its omission, section 115M was inserted, ibid.12. Prior to its omission, section 115N was inserted, ibid., and later on amended by the FinanceAct, 1993, w.e.f. 1-4-1993 and the Finance Act, 1994, w.e.f. 1-4-1995.