In force · As amended up to 2026-08
11. Provisions relating to rules. —(1) In addition to any power conferred by this Part, the Board may make rules—
(a) prescribing the statements and other information to be submitted along with an application for approval;
(b) prescribing the returns, statements, particulars, or information which the[1] [Assessing Officer] may require from the trustees of an approved superannuation fund or from the employer;
(c) limiting the ordinary annual contribution and any other contributions to an approved superannuation fund by an employer ;
2 [(cc) regulating the investment or deposit of the moneys of an approved superannuation fund:
Provided that no rule made under this clause shall require the investment of more than fifty per cent of the moneys of such fund in Government securities as defined in section 2 of the Public Debt Act, 1944 (18 of 1944);]
(d) providing for the assessment by way of penalty of any consideration received by an employee for an assignment of, or creation of a charge upon, his beneficial interest in an approved superannuation fund;
(e) determining the extent to, and the manner in, which exemption from payment of[3] [tax] may be granted in respect of any payment made from a superannuation fund from which approval has been withdrawn;
(f) providing for the withdrawal of approval in the case of a fund which ceases to satisfy the requirements of this Part or of the rules made thereunder; and
Eleventh Schedule]] incurs any expenditure on scientific research (not being expenditure in the nature of cost of any land or building) on in-house research and development facility as approved by the prescribed authority, then, there shall be allowed a deduction of[1] [a sum equal to[2] [one and one-half times] of the expenditure] so incurred.
3[Provided that where such expenditure on scientific research (not being expenditure in the nature of cost of any land or building) on in-house research and development facility is incurred in a previous year relevant to the assessment year beginning on or after the 1st day of April, 2021, the deduction under this clause shall be equal to the expenditure so incurred.]
4[ Explanation .—For the purposes of this clause, "expenditure on scientific research", in relation to drugs and pharmaceuticals, shall include expenditure incurred on clinical drug trial, obtaining approval from any regulatory authority under any Central, State or Provincial Act and filing an application for a patent under the Patents Act, 1970 (39 of 1970).]
(2) No deduction shall be allowed in respect of the expenditure mentioned in clause (1) under any other provision of this Act.
11. Investigation by Tax Recovery Officer. —(1) Where any claim is preferred to, or any objection is made to the attachment or sale of, any property in execution of a certificate, on the ground that such property is not liable to such attachment or sale, the Tax Recovery Officer shall proceed to investigate the claim or objection:
Provided that no such investigation shall be made where the Tax Recovery Officer considers that the claim or objection was designedly or unnecessarily delayed.
(2) Where the property to which the claim or objection applies has been advertised for sale, the Tax Recovery Officer ordering the sale may postpone it pending the investigation of the claim or objection, upon such terms as to security or otherwise as the Tax Recovery Officer shall deem fit.
(3) The claimant or objector must adduce evidence to show that—
(a) (in the case of immovable property) at the date of the service of the notice issued under this Schedule to pay the arrears, or
(b) (in the case of movable property) at the date of the attachment,
he had some interest in, or was possessed of, the property in question.
11. Treatment of balance in newly recognised provident fund. —(1) Where recognition is accorded to a provident fund with existing balances, an account shall be made of the fund up to the day immediately preceding the day on which the recognition takes effect, showing the balance to the credit of each employee on such day, and containing such further particulars as the Board may prescribe.
1. Ins. by Act 20 of 1974, s. 12 (w.e.f. 1-4-1975).
2. Subs. by Act 28 of 2016, s. 115, for "such other employer" (w.e.f. 1-4-2017).
3. Ins. by s. 115, ibid (w.e.f. 1-4-2017).
4. Subs. by Act 4 of 1988, s. 2, for "Income-tax Officer" (w.e.f. 1-4-1988).
5. Subs. by Act 10 of 1965, s. 66, for "income-tax and super tax" (w.e.f. 1-4-1965).
(2) The account shall also show in respect of the balance to the credit of each employee the amount thereof which is to be transferred to that employee's account in the recognised provident fund, and such amount (hereinafter called his transferred balance) shall be shown as the balance to his credit in the recognised provident fund on the date on which the recognition of the fund takes effect, and sub-rule (4) of this rule and sub-rule (5) of rule 5 shall apply thereto.
11. Item 29 omitted by s. 24, ibid. (w.e.f. 1-4-1982).
1[THE TWELFTH SCHEDULE
[ See section 80HHC(2)(b)(ii)]
PROCESSED MINERALS AND ORES
(i) Pulverised or micronised—barytes, calcite, steatite, pyrophylite, wollastonite, zircon, bentonite, red or yellow oxide, red or yellow ochre, talc, quartz, feldspar, silica powder, garnet, silliminite, fireclay, ballclay, manganese dioxide ore.
(ii) Processed or activated—bentonite, diatomious earth, fullers earth.
(iii) Processed—kaoline (china clay), whiting, calcium carbonate.
(iv) Beneficated-chromite, flourspar, graphite, vermiculite, ilmenite, brown ilmenite (lencoxene) rutile, monazite and other mineral concentrates.
(v) Mica blocks, mica splittings, mica condenser films, mica powder, micanite, silvered mica, punched mica, mica paper, mica tapes, mica flakes.
(vi) Exfoliated-vermiculite, calcined kyanite, magnesite, calcined magnesite, calcined alumina.
(vii) Sized iron ore processed by mechanical screening or crushing and screening through dry process or mechanical crushing, screening, washing and classification through wet process.
(viii) Iron ore concentrates processed through crushing, grinding or magnetic separation.
(ix) Agglomerated iron ore.
(x) Cut and polished minerals and rocks including cut and polished granite.
Explanation .—For the purposes of this Schedule, "processed", in relation to any mineral or ore, means—
11. Processing of essential oils and fragrances industry.
(g) generally, to carry out the purposes of this Part and to secure such further control over the approval of the superannuation funds and the administration of approved superannuation funds as it may deem requisite.
(2) All rules made under this Part shall be subject to the provisions of section 296.
(3) No company shall be entitled for deduction under clause (1) unless it enters into an agreement with the prescribed authority for co-operation in such research and development facility and[5] [fulfils such conditions with regard to maintenance of accounts and audit thereof and furnishing of reports in such manner as may be prescribed].
(4) The prescribed authority shall submit its report in relation to the approval of the said facility to the[6] [Principal Chief Commissioner or Chief Commissioner or][7] [Principal Director General or Director General] in such form and within such time as may be prescribed.]
8* * * *
*
9[(6) No deduction shall be allowed to a company approved under sub-clause (C) of clause (iia) of sub-section (1) in respect of the expenditure referred to in clause (1) which is incurred after the 31st day of March, 2008.]
10[(2B) (a) 11[Where, before the 1st day of March, 1984, an assessee has incurred any expenditure] (not being in the nature of capital expenditure incurred on the acquisition of any land or building or construction of any building) on scientific research undertaken under a programme approved in this
1. Subs. by Act 10 of 2000, s. 16, for "a sum equal to one and one-fourth times of the expenditure" (w.e.f. 1-4-2001).
2. Subs. by Act 28 of 2016, s. 15 for "two times" (w.e.f. 1-4-2018).
3. Ins. by s. 15, ibid . (w.e.f. 1-4-2018).
4. Ins. by Act 14 of 2001, s. 23 (w.e.f. 1-4-2002).
(4) Where, upon the said investigation, the Tax Recovery Officer is satisfied that, for the reason stated in the claim or objection, such property was not, at the said date, in the possession of the defaulter or of some person in trust for him or in the occupancy of a tenant or other person paying rent to him, or that, being in the possession of the defaulter at the said date, it was so in his possession, not on his own account or as his own property, but on account of or in trust for some other person, or partly on his own account and partly on account of some other person, the Tax Recovery Officer shall make an order releasing the property, wholly or to such extent as he thinks fit, from attachment or sale.
1. Subs. by Act 3 of 1989, s. 54, for "Assessing Officer" (w.e.f. 1-4-1989).
2. The words "duly filed under this Act" omitted by Act 4 of 1988, s. 124 (w.e.f. 1-4-1989).
(5) Where the Tax Recovery Officer is satisfied that the property was, at the said date, in the possession of the defaulter as his own property and not on account of any other person, or was in the possession of some other person in trust for him, or in the occupancy of a tenant or other person paying rent to him, the Tax Recovery Officer shall disallow the claim.
(3) Any portion of the balance to the credit of an employee in the existing fund which is not transferred to the recognised fund shall be excluded from the accounts of the recognised fund and shall be liable to income-tax[1] * in accordance with the provisions of this Act, other than this Part.
(4) Subject to such rules as the Board may make in this behalf, the[2] [Assessing Officer] shall make a calculation of the aggregate of all sums comprised in a transferred balance which would have been liable to income-tax if this Part had been in force from the date of the institution of the fund, without regard to any tax which may have been paid on any sum, and such aggregate (if any) shall be deemed to be income received by the employee in the previous year in which the recognition of the fund takes effect and shall be included in the employee's total income for that previous year, and, for the purposes of assessment, the remainder of the transferred balance shall be disregarded, but no other exemption or relief, by way of refund or otherwise, shall be granted in respect of any sum comprised in such transferred balance:
Provided that, in cases of serious accounting difficulty, the[3] [[4] [Principal Chief Commissioner or Chief Commissioner] or[5] [Principal Commissioner or Commissioner]] may, subject to the said rules, make a summary calculation of such aggregate.
(a) dressing through mechanical means to obtain concentrates after removal of gangue and unwanted deleterious substances or through other means without altering the minerological identity;
(b) pulverisation, calcination or micronisation;
(c) agglomeration from fines;
(d) cutting and polishing;
(e) washing and levigation;
(f) benefication by mechanical crushing and screening through dry process;
(g) sizing by crushing, screening, washing and classification through wet process;
(h) other upgrading techniques such as removal of impurities through chemical treatment, refining by gravity separation, bleaching, floatation or filtration.]
1. Ins. by Act 49 of 1991, s. 71 (w.e.f. 1-4-1991). Earlier it was inserted by Act 14 of 1982, s. 31 (w.e.f. 1-4-1983) and omitted by Act 23 of 1986, s. 38 (w.e.f. 1-4-1987).
1[THE THIRTEENTH SCHEDULE 2[[ See sections 80-IB(4) and 80-IC(2)]] LIST OF ARTICLES OR THINGS PART A FOR THE STATE OF SIKKIM S. No. Article or thing 1. Tobacco and tobacco products (including cigarettes, cigars and gutka, etc.) 2. Aerated branded beverages 3. Pollution-causing paper and paper products
PART B
FOR THE STATE OF HIMACHAL PRADESH AND THE STATE OF UTTARANCHAL
|11. Processing of essential oils and fragrances industry.|11. Processing of essential oils and fragrances industry.|
|---|---|
|12. Processing and raising of plantation crops—tea, rubber, coffee, coconuts, etc.||
|13. Gas based Intermediate Products Industry manufacturing or producing—||
||(i) Gas exploration and production;|
||(ii) Gas distribution and bottling;|
||(iii) Power generation;|
||(iv) Plastics;|
||(v) Yarn raw materials;|
||(vi) Fertilizers;|
||(vii) Methanol;|
||(viii) Formaldehyde and FR resin melamine and MF resin;|
||(ix) Methylamine, Hexamethylenetetramine, Ammonium bi-carbonate;|
||(x) Nitric Acid and Ammonium Nitrate;|
||(xi) Carbon black;|
||(xii) Polymer chips.|
|14. Agro forestry based industry.||
|15. Horticulture industry.||
|16. Mineral based industry.||
|17. Floriculture industry.||
|18. Agro-based industry.||
||PART B|
||FOR THE STATE OF SIKKIM|
|S. No.|Activity or article or thing or operation|
|1.|Eco-Tourism includingHotels,Resorts, Spa,Amusement Parks and Ropeways.|
|2.|Handicrafts and handlooms.|
|3.|Wool and silk reeling, weavingandprocessing, printing,etc.|
|4.|Floriculture.|
|5.|Precision Engineeringincluding watch making.|
|6.|Electronics including computronics hardware and software and Information Technology (IT) related|
||industries.|
|7.|Food processing including Agro-based industries. Processing, preservation and packaging of fruits and|
||vegetables(excludingconventionalgrinding/extraction units).|
|8.|Medicinal and aromatic Herbs—Plantation and Processing.|
|9.|Raisingandprocessingofplantation crops, _i.e., _tea,oranges and cardamom.|
|10.|Mineral based industry.|
|11.|Pharmaproducts.|
|12.|Honey.|
|13.|Biotechnology.|
(5) Nothing in this rule shall affect the rights of the persons administering an unrecognised provident fund or dealing with it, or with the balance to the credit of any individual employee before recognition is accorded, in any manner which may be lawful.
5. Subs. by Act 20 of 2015, s. 12, for "for audit of accounts maintained for that facility" (w.e.f. 1-4-2016).
6. Ins. by s. 12, ibid . (w.e.f. 1-4-2016).
7. Subs. by Act 25 of 2014, s. 4, for "Director General" (w.e.f. 1-6-2013).
8. Clause (5) omitted by Act 28 of 2016, s. 15 (w.e.f. 1-4-2018).
9. Ins. by Act 18 of 2008, s. 7 (w.e.f. 1-4-2009).
10. Ins. by Act 44 of 1980, s. 7 (w.e.f. 1-9-1980).
11. Subs. by Act 21 of 1984, s. 6, for "Where an assessee has incurred any expenditure" (w.e.f. 1-4-1984).
behalf by the prescribed authority having regard to the social, economic and industrial needs of India, he shall, subject to the provisions of this sub-section, be allowed a deduction of a sum equal to one and one-fourth times the amount of the expenditure certified by the prescribed authority to have been so incurred during the previous year.
(b) Where a deduction has been allowed under clause (a) for any previous year in respect of any expenditure, no deduction in respect of such expenditure shall be allowed under clause (i) of sub-section (1) or clause (ia) of sub-section (2) for the same or any other previous year.
(c) Where a deduction is allowed for any previous year under this sub-section in respect of expenditure represented wholly or partly by an asset, no deduction shall be allowed in respect of that asset under[1] [clause (ii) of sub-section (1)] of section 32 for the same or any subsequent previous year.
(6) Where a claim or an objection is preferred, the party against whom an order is made may institute a suit in a civil court to establish the right which he claims to the property in dispute; but, subject to the result of such suit (if any), the order of the Tax Recovery Officer shall be conclusive.
12. Removal of attachment on satisfaction or cancellation of certificate. —Where—
(a) the amount due, with costs and all charges and expenses resulting from the attachment of any property or incurred in order to hold a sale, are paid to the Tax Recovery Officer, or
(b) the certificate is cancelled,
the attachment shall be deemed to be withdrawn and, in the case of immovable property, the withdrawal shall, if the defaulter so desires, be proclaimed at his expense, and a copy of the proclamation shall be affixed in the manner provided by this Schedule for a proclamation of sale of immovable property.
|S.|No.|Activity or article or thing|Excise|classification|classification|Sub-class under National Industrial|
|---|---|---|---|---|---|---|
|||||||Classification (NIC), 1998|
||1.|Tobacco<br>and<br>tobacco<br>products|24.01 to||24.04 and|<br>1600|
|||including cigarettes and pan masala|21.06||||
||2.|Thermal<br>Power<br>Plant<br>(coal/oil||||40102 or 40103|
|||based)|||||
||3.|Coal washeries/dry coal processing|||||
||4.|Inorganic<br>Chemicals<br>excluding|Chapter 28||||
|||medicinal grade oxygen (2804.11),|||||
|||medicinal grade hydrogen peroxide|||||
|||(2847.11), compressed air (2851.30)|||||
||5.|Organic chemicals excluding Pro-|Chapter 29|||24117|
|||vitamins/vitamins,<br>Hormones|||||
|||(29.36),<br>Glycosides<br>(29.39),|||||
|||sugars* (29.40)|||||
||6.|Tanning<br>and<br>dyeing<br>extracts,|Chapter 32|||24113 or 24114|
|||tannins and their derivatives, dyes,|||||
|||colours, paints and varnishes; putty,|||||
|||fillers and other mastics; inks|||||
||7.|Marble and mineral substances not|25.04|||14106 or 14107|
|||classified elsewhere|||||
||||25.05||||
||8.|Flour mills/rice mills|11.01|||15311|
||9.|Foundries using coal|||||
1. Ins. by Act 32 of 2003, s. 99 (w.e.f. 1-4-2004).
2. Subs. by Act 23 of 2004, s. 64, for "[See section 80-IC(2)]" (w.e.f. 1-4-2005).
PART C
FOR THE STATE OF HIMACHAL PRADESH AND THE STATE OF UTTARANCHAL
|S.|Activity or article or|Activity or article or|4/6|digit|Sub-class under NIC|ITC(HS) classification 4/6|
|---|---|---|---|---|---|---|
|||thing or|excise||classification on 1998|digit|
|||operation|classificatio||||
|||||n|||
||||||||
|1.|Floriculture|||-|-|0603 or 060120 or 06029020|
|||||||or 06024000|
|2.|Medicinal herbs and|||-|-||
|||aromatic herbs,|||||
|||etc., processing|||||
|3.|Honey|||-|-|-040900|
|4.|Horticulture<br>and||||||
|||agro-based|||||
|||industries<br>such|||||
||(a)|as<br>Sauces, ketchup,|21.03||15135 to 15137 and 15139||
|||etc.|||||
||(b)|Fruit juices and|2202.40||||
|||fruit pulp|||||
||(c)|Jams,<br>jellies,|20.01||||
|||vegetable juices,|||||
|||puree,<br>pickles,|||||
|||etc.|||||
||(d)|Preserved fruits|||||
|||and vegetables|||||
||(e)|Processing<br>of|||||
|||fresh fruits and|||||
|||vegetables|||||
|||including|||||
|||packaging|||||
||(f)|Processing,|||||
|||preservation,|||||
|||packaging<br>of|||||
|||mushrooms|||||
|5.|Food|Processing|||||
||Industry excluding those||19.01 to||||
||included<br>in<br>the||19.04||||
||Thirteenth Schedule||||||
|6.|Sugar|and<br>its<br>by-|-||-|17019100|
||products||||||
|7.|Silk and silk products||50.04||17116||
||||50.05||||
|8.|Wool|and<br>wool|51.01 to||17117||
||products||51.12||||
1[ Explanation 2
resident within the meaning of sub-section (6) of section 6] on deposits in foreign currency where the acceptance of such deposits by the bank is approved by the Reserve Bank of India.
12[ Explanation. —For the purposes of this item, the expression "scheduled bank" means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), or any other bank being a bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), but does not include a co-operative bank;
(d) Any deduction made under this sub-section in respect of any expenditure on scientific research in excess of the expenditure actually incurred shall be deemed to have been wrongly made for the purposes of this Act if the assessee fails to furnish within one year of the period allowed by the prescribed authority for completion of the programme, a certificate of its completion obtained from that authority, and the provisions of sub-section (5B) of section 155 shall apply accordingly.]
2[(3) If any question arises under this section as to whether, and if so, to what extent, any activity constitutes or constituted, or any asset is or was being used for, scientific research, the Board shall refer the question to—
(a) the Central Government, when such question relates to any activity under clauses (ii) and (iii) of sub-section (1), and its decision shall be final;
(b) the prescribed authority, when such question relates to any activity other than the activity specified in clause (a), whose decision shall be final.]
(4) The provisions of sub-section (2) of section 32shall apply in relation to deductions allowable under clause (iv) of sub-section (1) as they apply in relation to deductions allowable in respect of depreciation.
|S.|No.|Activity or article or thing|Excise classification|Excise classification|Sub-class under National Industrial|
|---|---|---|---|---|---|
||||||Classification (NIC), 1998 |
||10.|Minerals fuels, mineral oils and||||
|||products<br>of<br>their<br>distillation;<br>bituminous<br>substances:<br>mineral|Chapter|27||
|||waxes||||
||11.|Synthetic rubber products|40.02||24131|
||12.|Cement clinkers and asbestos, raw|2502.10, 2503.00|||
|||including fibre||||
||13.|Explosive<br>(including<br>industrial|36.01 to 36.06||24292|
|||explosives, detonators and fuses,||||
|||fireworks,<br>matches,<br>propellant||||
|||powders, etc.)||||
||14.|Mineral or chemical fertilizers|31.02 to 31.05||2412|
||15.|Insecticides,fungicides, herbicides|3808.10||24211 or 24219|
|||and pesticides (basic manufacture||||
|||and formulation)||||
||16.|Fibre glass and articles thereof|70.14||26102|
||17.|Manufacture of pulp—wood pulp,|47.01||21011|
|||mechanical or chemical (including||||
|||dissolving pulp)`||||
||18.|Branded<br>aerated<br>water/soft|2201.20, 2202.20||15541 or 15542|
|||drinks (non-fruit based)||||
||1[19.|Manufacture of pulp-wood pulp,|4701.00|||
|||mechanical or chemical (including||||
|||dissolving pulp)||||
|||Newsprint in rolls or sheets|4801.00|||
|||Writing or printing paper for|4802.10|||
|||printing of educational textbooks||||
|||Paper<br>or<br>paperboard,<br>in<br>the|4802.20|||
|||manufacture of which—||||
|||(a) the principal process of lifting||||
|||the pulp is done by hand; and||||
|||(b) if power driven sheet forming||||
|||equipment is used, the Cylinder||||
|||Mould VAT does not exceeds 40||||
|||inches||||
|||Maplitho paper supplied to a|4802.30|||
|||Braille press against an indent||||
|||placed by the National Institute for||||
|||Visually Handicapped, Dehradun||||
|||Others|4802.90|||
|S.<br>No.|Activity or article or<br>thing or operation|4/6 digit excise<br>classification|4/6 digit excise<br>classification||Sub-class under NIC<br>classification on 1998|ITC(HS) classification<br>4/6 digit|
|---|---|---|---|---|---|---|
|9.|Woven fabrics (Excisable|-||-||6101 to 6117|
||garments)||||||
|10.|Sports goods and articles|9506.00|||||
||and<br>equipment<br>for||||||
||general<br>physical||||||
||exercise and equipment||||||
||for<br>adventure||||||
||sports/activities, tourism||||||
||(to be specified, by||||||
||notification,<br>by<br>the||||||
||Central Government)||||||
|11.|Paper and paper products||||||
||excluding those in the||||||
||Thirteenth Schedule (as||||||
||per excise classification)||||||
|12.|Pharma products<br>30.03 to 30.05||||||
|13.|Information<br>and|84.71|||30006/7||
||Communication||||||
||Technology<br>Industry,||||||
||Computer<br>hardware,||||||
||Call Centres||||||
|14.|Bottling of mineral water|2201|||||
|15.|Eco-tourism<br>including|-|||55101||
||hotels,<br>resorts,<br>spa,||||||
||entertainment/||||||
||amusement parks and||||||
||rope-ways||||||
|16.|Industrial gases (based on||||||
||atmospheric fraction)||||||
|17.|Handicrafts||||||
|18.|Non-timber<br>forest||||||
||product-based||||||
||industries.]||||||
3[(5) Where, in a scheme of amalgamation, the amalgamating company sells or otherwise transfers to the amalgamated company (being an Indian company) any asset representing expenditure of a capital nature on scientific research,—
(i) the amalgamating company shall not be allowed the deduction under clause (ii) or clause (iii) of sub-section (2); and
(ii) the provisions of this section shall, as far as may be, apply to the amalgamated company as they would have applied to the amalgamating company if the latter had not so sold or otherwise transferred the asset.]
1. Subs. by Act 46 of 1986, s. 32, for "clauses (i), (ii), (iia) and (iii) of sub-section (1) or under sub-section (1A)" (w.e.f. 1-4-1988).
2. Subs. by Act 27 of 1999, s. 15, for sub-section (3) (w.e.f. 1-4-2000).
3. Ins. by Act 20 of 1967, s. 13 (w.e.f. 1-4-1967).
1 [35A. Expenditure on acquisition of patent rights or copyrights. — (1) In respect of any expenditure of a capital nature incurred after the 28th day of February, 1966[2] [but before the 1st day of April, 1998], on the acquisition of patent rights or copyrights (hereafter, in this section, referred to as rights) used for the purposes of the business, there shall, subject to and in accordance with the provisions of this section, be allowed for each of the relevant previous years, a deduction equal to the appropriate fraction of the amount of such expenditure.
1. Subs. by Act 33 of 2009, s. 82, for certain entries (w.e.f. 1-4-2010).
Explanation. —For the purposes of this section,—
(i) "relevant previous years" means the fourteen previous years beginning with the previous year in which such expenditure is incurred or, where such expenditure is incurred before the commencement of the business, the fourteen previous years beginning with the previous year in which the business commenced :
Provided that where the rights commenced, that is to say, became effective, in any year prior to the previous year in which expenditure on the acquisition thereof was incurred by the assessee, this clause shall have effect with the substitution for the reference to fourteen years of a reference to fourteen years less the number of complete years which, when the rights are acquired by the assessee, have elapsed since the commencement thereof, and if fourteen years have elapsed as aforesaid, of a reference to one year;
(ii) "appropriate fraction" means the fraction the numerator of which is one and the denominator of which is the number of the relevant previous years.
|S.|No.|Activity or article or thing||||Excise classification|Sub-class under National Industrial|
|---|---|---|---|---|---|---|---|
||||||||Classification (NIC), 1998 |
|||Toilet or facial tissue stock, towel or||||4803.00||
|||napkin stock and similar paper of||a||||
|||kind used for household or sanitary||||||
|||purposes, cellulose wadding and||||||
|||webs of cellulose fibres, whether or||||||
|||not creped, crinkled embossed, per-||||||
|||forated, surfact-coloured, surface||||||
|||decorated or printed, in rolls of||a||||
|||width exceeding 36 cms. or|in|||||
|||rectangular<br>(including<br>square)||||||
|||sheets with at least one side||||||
|||exceeding 36 cms. in unfolded state.||||||
|||Kraft paper supplied to a Braille||||4804.10||
|||press against an indent placed by the||||||
|||National<br>Institute<br>for<br>Visually||||||
|||Handicapped,||||||
|||Dehradun||||||
|||Kraft paper and paperboard||||4804.20||
|||used in the manufacture of||||||
|||cartons for packing of||||||
|||horticultural produce||||||
|||Others||||4804.90||
|||Other uncoated paper and paper-||||4805.00||
|||board, in roll or sheets, not further||||||
|||worked or processed than as||||||
|||specified in Note 2 to this Chapter.||||||
|||Grease-proof paper||||4806.10||
|||Glassine<br>and<br>other<br>glazed||||4806.20||
|||transparent or translucent paper||||||
|||Others||||4806.90||
|||Straw Board, in the manufacture of||||4807.91||
|||which sun-drying process has been||||||
|||employed.||||||
|||Straw paper and other straw board,||||4807.92||
|||whether or not covered with paper||||||
|||other than straw paper.||||||
|||Other||||4807.99||
|||Carbon or similar copying papers||||4809.10||
|||Self-copy paper||||4809.20||
|||Others||||4809.90||
(2) Where the rights come to an end without being subsequently revived or where the whole or any part of the rights is sold and the proceeds of the sale (so far as they consist of capital sums) are not less than the cost of acquisition thereof remaining unallowed, no deduction under sub-section (1) shall be allowed in respect of the previous year in which the rights come to an end or, as the case may be, the whole or any part of the rights is sold or in respect of any subsequent previous year.
(3) Where the rights either come to an end without being subsequently revived or are sold in their entirety and the proceeds of the sale (so far as they consist of capital sums) are less than the cost of acquisition thereof remaining unallowed, a deduction equal to such cost remaining unallowed or, as the case may be, such cost remaining unallowed as reduced by the proceeds of the sale, shall be allowed in respect of the previous year in which the rights come to an end, or, as the case may be, are sold.]
|S. No.|Activity or article or thing||Excise classification|Sub-class under National Industrial|
|---|---|---|---|---|
|||||Classification (NIC), 1998 |
||Paper and paperboard of a kind used||<br>4810.10||
||for writing, printing or other graphic||||
||purposes.||||
||Kraft paper and paperboard other||<br>4810.20||
||than that of a kind used for writing,||||
||printing or other graphic purposes.||||
||Other paper and paperboard||4810.90||
||Tarred, bituminized or asphalted||<br>4811.10||
||paper and paperboard.||||
||Gummed or adhesive paper and||<br>4811.20||
||paperboard||||
||Paper<br>and<br>paperboard<br>coated,||||
||impregnated or covered with plastic||||
||(excluding adhesives).||||
||Products consisting of sheets of||4811.31||
||paper or paperboard, impregnated,||||
||coated or covered with plastics||||
||(including thermoset resins or||||
||mixtures thereof or chemical||||
||formulations containing melamine,||||
||phenol, urea formaldehyde with or||||
||without curing agents or catalysts),||||
||compressed together in one or more||||
||operations; Products known||||
||commercially as decorative||||
||laminates.||||
||Others||4811.39||
||Paper<br>and<br>paperboard,<br>coated,<br>4811.40||||
||impregnated or covered with wax,||||
||paraffin wax, stearin, oil or glycerol.||||
||Other||4811.90||
||Cigarette paper, whether or not|cut|<br>4813.00||
||to size or in the form of booklets or||||
||tubes.]||||
|20.|Plastics and articles thereof||39.09 to 39.15]||
||||1[PART C||
||FOR THE||STATE OF JAMMU AND KASHMIR||
|S. No.|||Article or thing||
|1.|Cigarettes/cigars of tobacco,manufactured tobacco and substitutes||||
|2.|Distilled/brewed alcoholic drinks||||
|3.|Aerated branded beverages and their||concentrates.]||
(4) Where the whole or any part of the rights is sold and the proceeds of the sale (so far as they consist of capital sums) exceed the amount of the cost of acquisition thereof remaining unallowed, so much of the excess as does not exceed the difference between the cost of acquisition of the rights and the amount of such cost remaining unallowed shall be chargeable to income-tax as income of the business of the previous year in which the whole or any part of the rights is sold.
Explanation .—Where the whole or any part of the rights is sold in a previous year in which the business is no longer in existence, the provisions of this sub-section shall apply as if the business is in existence in that previous year.
(5) Where a part of the rights is sold and sub-section (4) does not apply, the amount of the deduction to be allowed under sub-section (1) shall be arrived at by—
(a) subtracting the proceeds of the sale (so far as they consist of capital sums) from the amount of the cost of acquisition of the rights remaining unallowed; and
(b) dividing the remainder by the number of relevant previous years which have not expired at the beginning of the previous year during which the rights are sold.]
1. Ins. by Act 13 of 1966, s. 10 (w.e.f. 1-4-1966).
2. Ins. by Act 21 of 1998, s. 12 (w.e.f. 1-4-1999).
1. Ins. by 23 of 2004, s. 64 (w.e.f. 1-4-2005).
THE FOURTEENTH SCHEDULE [ See section 80-IC(2)]
LIST OF ARTICLES OR THINGS OR OPERATIONS
PART A
_________
FOR THE NORTH-EASTERN STATES
1[(6) Where, in a scheme of amalgamation, the amalgamating company sells or otherwise transfers the rights to the amalgamated company (being an Indian company),—
(i) the provisions of sub-sections (3) and (4) shall not apply in the case of the amalgamating company; and
(ii) the provisions of this section shall, as far as may be, apply to the amalgamated company as they would have applied to the amalgamating company if the latter had not so sold or otherwise transferred the rights.]
2[(7) Where in a scheme of demerger, the demerged company sells or otherwise transfers the rights to the resulting company (being an Indian company),—
(i) the provisions of sub-sections (3) and (4) shall not apply in the case of the demerged company; and
(ii) the provisions of this section shall, as far as may be, apply to the resulting company as they would have applied to the demerged company, if the latter had not sold or otherwise transferred the rights.]
3 [35AB. Expenditure on know-how. —(1) Subject to the provisions of sub-section (2), where the assessee has paid[4] [in any previous year relevant to the assessment year commencing on or before the 1st day of April, 1998] any lump sum consideration for acquiring any know-how for use for the purposes of his business, one-sixth of the amount so paid shall be deducted in computing the profits and gains of the business for that previous year, and the balance amount shall be deducted in equal instalments for each of the five immediately succeeding previous years.
(2) Where the know-how referred to in sub-section (1) is developed in a laboratory, university or institution referred to in sub-section (2B) of section 32A, one-third of the said lump sum consideration paid in the previous year by the assessee shall be deducted in computing the profits and gains of the business for that year, and the balance amount shall be deducted in equal instalments for each of the two immediately succeeding previous years.
5[(3) Where there is a transfer of an undertaking under a scheme of amalgamation or demerger and the amalgamating or the demerged company is entitled to a deduction under this section, then, the amalgamated company or the resulting company, as the case may be, shall be entitled to claim deduction under this section in respect of such undertaking to the same extent and in respect of the residual period as it would have been allowable to the amalgamating company or the demerged company, as the case may be, had such amalgamation or demerger not taken place.]
Explanation. —For the purposes of this section, "know-how" means any industrial information or technique likely to assist in the manufacture or processing of goods or in the working of a mine, oil well or other sources of mineral deposits (including the searching for, discovery or testing of deposits or the winning of access thereto).]
6 [35ABA. Expenditure for obtaining right to use spectrum for telecommunication services. —(1) In respect of any expenditure, being in the nature of capital expenditure, incurred for acquiring any right to use spectrum for telecommunication services either before the commencement of the business or thereafter at any time during any previous year and for which payment has actually been made to obtain a right to use spectrum, there shall, subject to and in accordance with the provisions of this section, be
1. Ins. by Act 26 of 1967, s. 14 (w.e.f. 1-4-1967).
2. Ins. by Act 27 of 1999, s. 16 (w.e.f. 1-4-2000).
3. Ins. by Act 32 of 1985, s. 8 (w.e.f. 1-4-1986).
4. Subs. by Act 21 of 1998, s. 12, for "in any previous year" (w.e.f. 1-4-1999).
5. Ins. by Act 27 of 1999, s. 17 (w.e.f. 1-4-2000).
6. Ins. by Act 28 of 2016, s. 16 (w.e.f. 1-4-2017).
allowed for each of the relevant previous years, a deduction equal to the appropriate fraction of the amount of such expenditure.
(2) The provisions contained in sub-sections (2) to (8) of section 35 ABB, shall apply as if for the word "licence", the word "spectrum" had been substituted.
(3) Where, in a previous year, any deduction has been claimed and granted to the assessee under sub-section (1), and, subsequently, there is failure to comply with any of the provisions of this section, then,—
(a) the deduction shall be deemed to have been wrongly allowed;
(b) the Assessing Officer may, notwithstanding anything contained in this Act, re-compute the total income of the assessee for the said previous year and make the necessary rectification;
(c) the provisions of section 154 shall, so far as may be, apply and the period of four years specified in sub-section (7) of that section being reckoned from the end of the previous year in which the failure to comply with the provisions of this section takes place.
Explanation. —For the purposes of this section,—
(i) "relevant previous years" means,—
(A) in a case where the spectrum fee is actually paid before the commencement of the business to operate telecommunication services, the previous years beginning with the previous year in which such business commenced;
(B) in any other case, the previous years beginning with the previous year in which the spectrum fee is actually paid,
and the subsequent previous year or years during which the spectrum, for which the fee is paid, shall be in force;
(ii) "appropriate fraction" means the fraction, the numerator of which is one and the denominator of which is the total number of the relevant previous years;
(iii) "payment has actually been made" means the actual payment of expenditure irrespective of the previous year in which the liability for the expenditure was incurred according to the method of accounting regularly employed by the assessee or payable in such manner as may be prescribed.]
1 [35ABB. Expenditure for obtaining licence to operate telecommunication services. —(1) In respect of any expenditure, being in the nature of capital expenditure, incurred[2] [for acquiring any right to operate telecommunication services either before the commencement of the business to operate telecommunication services or thereafter at any time during any previous year] and for which payment has actually been made to obtain a licence, there shall, subject to and in accordance with the provisions of this section, be allowed for each of the relevant previous years, a deduction equal to the appropriate fraction of the amount of such expenditure.
Explanation. —For the purposes of this section,—
3[(i) "relevant previous years" means,—
(A) in a case where the licence fee is actually paid before the commencement of the business to operate telecommunication services, the previous years beginning with the previous year in which such business commenced;
(B) in any other case, the previous years beginning with the previous year in which the licence fee is actually paid,
1. Ins. by Act 26 of 1997, s. 6 (w.e.f. 1-4-1996).
2. Subs. by Act 27 of 1999, s. 18, for "for acquiring any right to operate telecommunication services" (w.e.f. 1-4-1996).
3. Subs. by s. 18, for clause (i) (w.e.f. 1-4-1996).
and the subsequent previous year or years during which the licence, for which the fee is paid, shall be in force;]
(ii) "appropriate fraction" means the fraction the numerator of which is one and the denominator of which is the total number of the relevant previous years;
(iii) "payment has actually been made" means the actual payment of expenditure irrespective of the previous year in which the liability for the expenditure was incurred according to the method of accounting regularly employed by the assessee.
(2) Where the licence is transferred and the proceeds of the transfer (so far as they consist of capital sums) are less than the expenditure incurred remaining unallowed, a deduction equal to such expenditure remaining unallowed, as reduced by the proceeds of the transfer, shall be allowed in respect of the previous year in which the licence is transferred.
(3) Where the whole or any part of the licence is transferred and the proceeds of the transfer (so far as they consist of capital sums) exceed the amount of the expenditure incurred remaining unallowed, so much of the excess as does not exceed the difference between the expenditure incurred to obtain the licence and the amount of such expenditure remaining unallowed shall be chargeable to income-tax as profits and gains of the business in the previous year in which the licence has been transferred.
Explanation. —Where the licence is transferred in a previous year in which the business is no longer in existence, the provisions of this sub-section shall apply as if the business is in existence in that previous year.
(4) Where the whole or any part of the licence is transferred and the proceeds of the transfer (so far as they consist of capital sums) are not less than the amount of expenditure incurred remaining unallowed, no deduction for such expenditure shall be allowed under sub-section (1) in respect of the previous year in which the licence is transferred or in respect of any subsequent previous year or years.
(5) Where a part of the licence is transferred in a previous year and sub-section (3) does not apply, the deduction to be allowed under sub-section (1) for expenditure incurred remaining unallowed shall be arrived at by—
(a) subtracting the proceeds of transfer (so far as they consist of capital sums) from the expenditure remaining unallowed; and
(b) dividing the remainder by the number of relevant previous years which have not expired at the beginning of the previous year during which the licence is transferred.
(6) Where, in a scheme of amalgamation, the amalgamating company sells or otherwise transfers the licence to the amalgamated company (being an Indian company),—
(i) the provisions of sub-sections (2), (3) and (4) shall not apply in the case of the amalgamating company; and
(ii) the provisions of this section shall, as far as may be, apply to the amalgamated company as they would have applied to the amalgamating company if the latter had not transferred the licence.]
1[(7) Where, in a scheme of demerger, the demerged company sells or otherwise transfers the licence to the resulting company (being an Indian company),—
(i) the provisions of sub-sections (2), (3) and (4) shall not apply in the case of the demerged company; and
(ii) the provisions of this section shall, as far as may be, apply to the resulting company as they would have applied to the demerged company if the latter had not transferred the licence.]
1. Ins. by Act 27 of 1999, s. 18 (w.e.f. 1-4-2000).
1[(8) Where a deduction for any previous year under sub-section (1) is claimed and allowed in respect of any expenditure referred to in that sub-section, no deduction shall be allowed under sub-section (1) of section 32 for the same previous year or any subsequent previous year.]
2 [35AC. Expenditure on eligible projects or schemes. — (1) Where an assessee incurs any expenditure by way of payment of any sum to a public sector company or a local authority or to an association or institution approved by the National Committee for carrying out any eligible project or scheme, the assessee shall, subject to the provisions of this section, be allowed a deduction of the amount of such expenditure incurred during the previous year :
Provided that a company may, for claiming the deduction under this sub-section, incur expenditure either by way of payment of any sum as aforesaid or directly on the eligible project or scheme.
(2) The deduction under sub-section (1) shall not be allowed unless the assessee furnishes along with his return of income a certificate—
(a) where the payment is to a public sector company or a local authority or an association or institution referred to in sub-section (1), from such public sector company or local authority or, as the case may be, association or institution;
(b) in any other case, from an accountant, as defined in the Explanation below sub-section (2) of section 288,
in such form, manner and containing such particulars (including particulars relating to the progress in the work relating to the eligible project or scheme during the previous year) as may be prescribed.
3[ Explanation .—The deduction, to which the assessee is entitled in respect of any sum paid to a public sector company or a local authority or to an association or institution for carrying out the eligible project or scheme referred to in this section applies, shall not be denied merely on the ground that subsequent to the payment of such sum by the assessee,—
(a) the approval granted to such association or institution has been withdrawn; or
(b) the notification notifying the eligible project or scheme carried out by the public sector company or local authority or association or institution has been withdrawn.]
(3) Where a deduction under this section is claimed and allowed for any assessment year in respect of any expenditure referred to in sub-section (1), deduction shall not be allowed in respect of such expenditure under any other provision of this Act for the same or any other assessment year.
4[(4) Where an association or institution is approved by the National Committee under sub-section (1), and subsequently—
(i) that Committee is satisfied that the project or the scheme is not being carried on in accordance with all or any of the conditions subject to which approval was granted; or
(ii) such association or institution, to which approval has been granted, has not furnished to the National Committee, after the end of each financial year, a report in such form and setting forth such particulars and within such time as may be prescribed
the National Committee may, at any time, after giving a reasonable opportunity of showing cause against the proposed withdrawal to the concerned association or institution, withdraw the approval:
Provided that a copy of the order withdrawing the approval shall be forwarded by the National Committee to the Assessing Officer having jurisdiction over the concerned association or institution.
1. Ins. by Act 27 of 1999, s. 18 (w.e.f. 1-4-1996).
2. Ins. by Act 49 of 1991, s. 13 (w.e.f. 1-4-1992).
3. Ins. by Act 29 of 2006, s. 6 (w.e.f. 1-4-2006).
4. Subs by Act 23 of 2004, s. 10 for sub-section (4) (w.e.f. 1-10-2004).
(5) Where any project or scheme has been notified as an eligible project or scheme under clause (b) of the Explanation, and subsequently—
(i) the National Committee is satisfied that the project or the scheme is not being carried on in accordance with all or any of the conditions subject to which such project or scheme was notified; or
(ii) a report in respect of such eligible project or scheme has not been furnished after the end of each financial year, in such form and setting forth such particulars and within such time as may be prescribed,
such notification may be withdrawn in the same manner in which it was issued:
Provided that a reasonable opportunity of showing cause against the proposed withdrawal shall be given by the National Committee to the concerned association, institution, public sector company or local authority, as the case may be:
Provided further that a copy of the notification by which the notification of the eligible project or scheme is withdrawn shall be forwarded to the Assessing Officer having jurisdiction over the concerned association, institution, public sector company or local authority, as the case may be, carrying on such eligible project or scheme.]
1[(6) Notwithstanding anything contained in any other provision of this Act, where—
(i) the approval of the National Committee, granted to an association or institution, is withdrawn under sub-section (4) or the notification in respect of eligible project or scheme is withdrawn in the case of a public sector company or local authority or an association or institution under sub-section (5); or
case of a public sector company or local authority or an association or institution under
(ii) a company has claimed deduction under the proviso to sub-section (1) in respect of any expenditure incurred directly on the eligible project or scheme and the approval for such project or scheme is withdrawn by the National Committee under sub-section (5),
the total amount of the payment received by the public sector company or the local authority or the association or the institution, as the case may be, in respect of which such company or authority or association or institution has furnished a certificate referred to in clause (a) of sub-section (2) or the deduction claimed by a company under the proviso to sub-section (1) shall be deemed to be the income of such company or authority or association or institution, as the case may be, for the previous year in which such approval or notification is withdrawn and tax shall be charged on such income at the maximum marginal rate in force for that year.]
2[(7) No deduction under this section shall be allowed in respect of any assessment year commencing on or after the 1st day of April, 2018.]
Explanation .—For the purposes of this section,—
(a) "National Committee" means the Committee constituted by the Central Government, from amongst persons of eminence in public life, in accordance with the rules made under this Act;
(b) "eligible project or scheme" means such project or scheme for promoting the social and economic welfare of, or the uplift of, the public as the Central Government may, by notification in the Official Gazette, specify in this behalf on the recommendations of the National Committee.]
3 [35AD. Deduction in respect of expenditure on specified business. — (1) An assessee shall be allowed a deduction in respect of the whole of any expenditure of capital nature incurred, wholly and exclusively, for the purposes of any specified business carried on by him during the previous year in which such expenditure is incurred by him:
1. Ins. by Act 20 of 2002, s. 16 (w.e.f. 1-4-2003).
2. Ins. by Act 28 of 2016, s. 17 (w.e.f. 1-4-2017).
3. Ins. by Act 33 of 2009, s. 13 (w.e.f. 1-4-2010).
Provided that the expenditure incurred, wholly and exclusively, for the purposes of any specified business, shall be allowed as deduction during the previous year in which he commences operations of his specified business, if—
(a) the expenditure is incurred prior to the commencement of its operations; and
(b) the amount is capitalised in the books of account of the assessee on the date of commencement of its operations.]
[1] * *
* * *
(2) This section applies to the specified business which fulfils all the following conditions, namely:—
(i) it is not set up by splitting up, or the reconstruction, of a business already in existence;
(ii) it is not set up by the transfer to the specified business of machinery or plant previously used for any purpose;
(iii) where the business is of the nature referred to in sub-clause (iii) of clause (c) of
sub-section (8), such business,—
(a) is owned by a company formed and registered in India under the Companies Act, 1956 (1 of 1956) or by a consortium of such companies or by an authority or a board or a corporation established or constituted under any Central or State Act;
(b) has been approved by the Petroleum and Natural Gas Regulatory Board established under sub-section (1) of section 3 of the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006) and notified by the Central Government in the Official Gazette in this behalf;
under sub-section (1) of section 3 of the Petroleum and Natural Gas Regulatory Board
(c) has made not less than[2] [such proportion of its total pipeline capacity as specified by regulations made by the Petroleum and Natural Gas Regulatory Board established under subsection (1) of section 3 of the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006)] available for use on common carrier basis by any person other than the assessee or an associated person; and
(d) fulfils any other condition as may be prescribed.
3 [(iv) where the business is of the nature referred to in sub-clause (xiv) of clause (c) of sub-section (8), such business,—
(A) is owned by a company registered in India or by a consortium of such companies or by an authority or a board or corporation or any other body established or constituted under any Central or State Act;
(B) entity referred to in sub-clause (A) has entered into an agreement with the Central Government or a State Government or a local authority or any other statutory body for developing or operating and maintaining or developing, operating and maintaining, a new infrastructure facility.]
4[(3) Where a deduction under this section is claimed and allowed in respect of the specified business for any assessment year, no deduction shall be allowed under the provisions of[5] [section 10AA and]
1. Sub-section (1A) Omitted by Act 28 of 2016, s. 18 (w.e.f 1-4-2018).
2. Subs. by Act 14 of 2010, s. 10, for the words "one-third of its total pipeline capacity" (w.e.f. 1-4-2010).
3. Ins. by Act 28 of 2016, s. 18 (w.e.f. 1-4-2018).
4. Subs. by Act 14 of 2010, s. 10, for sub-section (3) (w.e.f. 1-4-2011).
5. Ins. by Act 25 of 2014, s. 12 (w.e.f. 1-4-2015).
Chapter VIA under the heading" C.—Deductions in respect of certain incomes" in relation to such specified business for the same or any other assessment year.]
(4) No deduction in respect of the expenditure referred to in sub-section (1) shall be allowed to the assessee under any other section in any previous year or under this section in any other previous year.
(5) The provisions of this section shall apply to the specified business referred to in sub-section (2) if it commences its operations,—
(a) on or after the 1st day of April, 2007, where the specified business is in the nature of laying and operating a cross-country natural gas pipeline network for distribution, including storage facilities being an integral part of such network;[1] *
2 [(aa) on or after the 1st day of April, 2010, where the specified business is in the nature of building and operating a new hotel of two-star or above category as classified by the Central Government;
(ab) on or after the 1st day of April, 2010, where the specified business is in the nature of building and operating a new hospital with at least one hundred beds for patients;
(ac) on or after the 1st day of April, 2010, where the specified business is in the nature of developing and building a housing project under a scheme for slum redevelopment or rehabilitation framed by the Central Government or a State Government, as the case may be, and which is notified by the Board in this behalf in accordance with the guidelines as may be prescribed;[3] *]
4[(ad) on or after the 1st day of April, 2011, where the specified business is in the nature of developing and building a housing project under a scheme for affordable housing framed by the Central Government or a State Government, as the case may be, and notified by the Board in this behalf in accordance with the guidelines as may be prescribed;
(ae) on or after the 1st day of April, 2011, in a new plant or in a newly installed capacity in an existing plant for production of fertilizer;[5] *]
6(af) on or after the 1st day of April, 2012, where the specified business is in the nature of setting up and operating an inland container depot or a container freight station notified or approved under the Customs Act, 1962 (52 of 1962);
(ag) on or after the 1st day of April, 2012, where the specified business is in the nature of beekeeping and production of honey and beeswax;
(ah) on or after the 1st day of April, 2012, where the specified business is in the nature of setting up and operating a warehousing facility for storage of sugar;[7] *]
[8] [(ai) on or after the 1st day of April, 2014, where the specified business is in the nature of laying and operating a slurry pipeline for the transportation of iron ore;
(aj) on or after the 1st day of April, 2014, where the specified business is in the nature of setting up and operating a semi-conductor wafer fabrication manufacturing unit, and which is notified by the Board in accordance with such guidelines as may be prescribed;[9] *]
Source: India Code