Section 9. Liability of trustees on cessation of approval

9. Liability of trustees on cessation of approval. —If a fund or a part of a fund for any reason ceases to be an approved superannuation fund, the trustees of the fund shall nevertheless remain liable to tax on any sum paid on account of returned contributions (including interest on contributions, if any), in so far as the sum so paid is in respect of contributions made before the fund or part of the fund ceased to be an approved superannuation fund under the provisions of this Part. 1. Subs. by Act 4 of 1988, s. 2, for "Income-tax" (w.e.f. 1-4-1988). 2. Subs. by Act 42 of 1970, s. 57, for "and of the accounts of the fund for the last three years for which such accounts have been made up" (w.e.f. 1-4-1971). 3. Subs. by Act 4 of 1988, s. 2, for "Commissioner" (w.e.f. 1-4-1988). 4. Subs. by Act 25 of 2014, s. 4 for "Chief Commissioner" (w.r.e.f. 1-6-2013). 5. Subs. by s. 4, ibid ., for "Commissioner" (w.r.e.f. 1-6-2013). 6. The words "and super-tax" omitted by Act 10 of 1965, s. 66 (w.e.f. 1-4-1965). 7. Ins. by s. 66, ibid , (w.e.f. 1-4-1965). 8. Subs. by s. 66, ibid ., for "income-tax and super-tax" (w.e.f. 1-4-1965). 9. The words, brackets and figure "sub-section (1) of" omitted by Act 11 of 1987 s. 74 (w.e.f. 1-6-1987). 9. Provisions relating to rules. —(1) In addition to any power conferred in this Part, the Board may make rules— (a) prescribing the statements and other information to be submitted along with an application for approval; (b) limiting the ordinary annual and other contributions of an employer to the fund; 7[(bb) regulating the investment or deposit of the moneys of an approved gratuity 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);] (c) providing for the assessment by way of penalty of any consideration received by an employee for an assignment of, or the creation of a charge upon, his beneficial interest in an approved gratuity fund; (d) providing for the withdrawal of the approval in the case of a fund which ceases to satisfy the requirements of this Part or the rules made thereunder; and (e) generally, to carry out the purposes of this Part and to secure such further control over the approval of gratuity funds and the administration of gratuity funds as it may deem requisite. (2) All rules made under this Part shall be subject to the provisions of section 296. 1. The words "and super-tax" omitted by Act 10 of 1965, s. 66 (w.e.f. 1-4-1965). 2. Subs. by Act 4 of 1988, s. 2, for "Commissioner" (w.e.f. 1-4-1988). 9. The Second proviso omitted by Act 18 of 2005, s. 4 (w.e.f. 1-4-2006). 10. Ins. by Act 14 of 1982, s. 4 (w.e.f. 1-4-1983). 11. Subs. by Act 20 of 2002, s. 4, for "savings certificates issued" (w.e.f. 1-4-2003). (b) "convertible foreign exchange" means foreign exchange which is for the time being treated by the Reserve Bank of India as convertible foreign exchange for the purposes of[1] [the Foreign Exchange Management Act, 1999 (42 of 1999)], and any rules made thereunder;] [2] [(5) in the case of an individual, the value of any travel concession or assistance received by, or due to, him,— (a) from his employer for himself and his family, in connection with his proceeding on leave to any place in India; (b) from his employer or former employer for himself and his family, in connection with his proceeding to any place in India after retirement from service or after the termination of his service, subject to such conditions as may be prescribed(including conditions as to number of journeys and the amount which shall be exempt per head) having regard to the travel concession or assistance granted to the employees of the Central Government: Provided that the amount exempt under this clause shall in no case exceed the amount of expenses actually incurred for the purpose of such travel. Explanation .—For the purposes of this clause, "family", in relation to an individual, means— (i) the spouse and children of the individual ; and 9. The word "and" omitted by Act 28 of 2016, s. 18 (w.e.f. 1-4-2018). 1[(ak) on or after the 1st day of April, 2017, where the specified business is in the nature of developing or operating and maintaining or developing, operating and maintaining, any infrastructure facility; and] (b) on or after the 1st day of April, 2009, in all other cases not falling under[2] [any of the above clauses.] (6) The assessee carrying on the business of the nature referred to in clause (a) of sub-section (5) shall be allowed, in addition to deduction under sub-section (1), a further deduction in the previous year relevant to the assessment year beginning on the 1st day of April, 2010, of an amount in respect of expenditure of capital nature incurred during any earlier previous year, if— (a) the business referred to in clause (a) of sub-section (5) has commenced its operation at any time during the period beginning on or after the 1st day of April, 2007 and ending on the 31st day of March, 2009; and (b) no deduction for such amount has been allowed or is allowable to the assessee in any earlier previous year. 9. Explanation 4 renumbered as Explanation 5 thereof by Act 28 of 2016, s. 55 (w.e.f. 1-4-2001). 10. Ins. by Act 7 of 2017, s. 47 (w.e.f. 1-4-2018). (b) decreased by all amounts debited to other comprehensive income in the statement of profit and loss under the head "Items that will not be re-classified to profit or loss; (c) increased by amounts or aggregate of the amounts debited to the statement of profit and loss on distribution of non-cash assets to shareholders in a demerger in accordance with Appendix A of the Indian Accounting Standards 10; (d) decreased by all amounts or aggregate of the amounts credited to the statement of profit and loss on distribution of non-cash assets to shareholders in a demerger in accordance with Appendix A of the Indian Accounting Standards 10: Provided that nothing contained in clause (a) or clause (b) shall apply to the amount credited or debited to other comprehensive income under the head "Items that will not be re-classified to profit or loss" in respect of — (i) revaluation surplus for assets in accordance with the Indian Accounting Standards 16 and Indian Accounting Standards 38; or (ii) gains or losses from investments in equity instruments designated at fair value through other comprehensive income in accordance with the Indian Accounting Standards 109: 9. The Explanation omitted by Act 28 of 2016, s. 111 (w.e.f. 1-6-2016). Provided that the 1[2[Principal Chief Commissioner or Chief Commissioner], 3[Principal Commissioner or Commissioner],[4] [Principal Director General or Director General] or[5] [Principal Director or Director]] may, for reasons to be recorded in writing, extend the aforesaid period by such further period or periods as he thinks fit, so, however, that the total period of extension shall not in any case exceed[6] [two years or sixty days after the date of order of assessment or reassessment, whichever is later].] 7* * * * * 8[(3) Where the assessee furnishes a guarantee from a scheduled bank for an amount not less than the fair market value of the property provisionally attached under sub-section (1), the Assessing Officer shall, by an order in writing, revoke such attachment: Provided that where the Assessing Officer is satisfied that a guarantee from a scheduled bank for an amount lower than the fair market value of the property is sufficient to protect the interests of the revenue, he may accept such guarantee and revoke the attachment. 3. Subs. by Act 25 of 2014, s. 4 for "Chief Commissioner" (w.r.e.f. 1-6-2013). 4. Subs. by s. 4, ibid ., for "Commissioner" (w.r.e.f. 1-6-2013). 5. Ins. by Act 42 of 1970, s. 57 (w.e.f. 1-4-1971). 6. Subs. by Act 4 of 1988, s. 2, for "Income-tax" (w.e.f. 1-4-1988). 7. Ins. by Act 42 of 1970, s. 57 (w.e.f. 1-4-1971). 1[THE FIFTH SCHEDULE 2[ See section 33(1)(b)(B)(i)]] LIST OF ARTICLES AND THINGS (1) Iron and steel (metal), ferro-alloys and special steels. (2) Aluminium, copper, lead and zinc (metals). (3)[3] [Coal, lignite, iron ore], bauxite, manganese ore, dolomite, limestone, magnesite and mineral oil. (4) Industrial machinery specified under the heading "8. Industrial machinery", sub-heading "A. Major items of specialised equipment used in specific industries", of the First Schedule to the Industries (Development and Regulation) Act, 1951 (65 of 1951). (5) Boilers and steam generating plants, steam engines and turbines and internal combustion engines. (6) Flame and drip proof motors. (7) Equipment for the generation and transmission of electricity including transformers, cables and transmission towers. (8) Machine tools and precision tools (including their attachments and accessories, cutting tools and small tools), dies and jigs. (9) Tractors, earth-moving machinery and agricultural implements. (10) Motor trucks and buses. 9. The Explanation omitted by Act 18 of 1992, s. 71 (w.e.f. 1-6-1992). 1 [194B. Winnings from lottery or crossword puzzle. ―The person responsible for paying to any person any income by way of winnings from any lottery or crossword puzzle[2] [or card game and other game of any sort] in an amount exceeding[3] [ten thousand rupees] shall, at the time of payment thereof, deduct income-tax thereon at the rates in force: 4* * * * *] 5[6[Providedthat] in a case where the winnings are wholly in kind or partly in cash and partly in kind but the part in cash is not sufficient to meet the liability of deduction of tax in respect of whole of the winnings, the person responsible for paying shall, before releasing the winnings, ensure that tax has been paid in respect of the winnings.] (ii) the parents, brothers and sisters of the individual or any of them, wholly or mainly dependent on the individual;] 3* * * * * 4* * * * * (6) in the case of an individual who is not a citizen of India,— 5* * * * * 6[(ii) the remuneration received by him as an official, by whatever name called, of an embassy, high commission, legation, commission, consulate or the trade representation of a foreign State, or as a member of the staff of any of these officials, for service in such capacity: Provided that the remuneration received by him as a trade commissioner or other official representative in India of the Government of a foreign State (not holding office as such in an honorary capacity), or as a member of the staff of any of those officials, shall be exempt only if the remuneration of the corresponding officials or, as the case may be, members of the staff, if any, of the Government resident for similar purposes in the country concerned enjoys a similar exemption in that country: 1. Subs. by Act 17 of 2013, s. 4, for "the Foreign Exchange Regulation Act, 1973 (46 of 1973)" (w.e.f. 1-4-2013). 2. Subs. by Act 36 of 1989, s. 4, for clause (5) (w.e.f. 1-4-1989). 3. Clause (5A) omitted by Act 21 of 1998, s. 5 (w.e.f. 1-4-1999). 4. Clause (5B) omitted by Act 20 of 2002, s. 4 (w.e.f. 1-4-2003). 3[(6A) Where the assessee builds a hotel of two-star or above category as classified by the Central Government and subsequently, while continuing to own the hotel, transfers the operation thereof to another person, the assessee shall be deemed to be carrying on the specified business referred to in subclause (iv) of clause (c) of sub-section (8).] (7) The provisions contained in sub-section (6) of section 80A and the provisions of sub-sections (7) and (10) of section 80-IA shall, so far as may be, apply to this section in respect of goods or services or assets held for the purposes of the specified business. 4[(7A) Any asset in respect of which a deduction is claimed and allowed under this section shall be used only for the specified business, for a period of eight years beginning with the previous year in which such asset is acquired or constructed. Provided further that the book profit of the previous year in which the asset or investment referred to in the first proviso is retired, disposed, realised or otherwise transferred shall be increased or decreased, as the case may be, by the amount or the aggregate of the amounts referred to in the first proviso for the previous year or any of the preceding previous years and relatable to such asset or investment. (2B) In the case of a resulting company, where the property and the liabilities of the undertaking or undertakings being received by it are recorded at values different from values appearing in the books of account of the demerged company immediately before the demerger, any change in such value shall be ignored for the purpose of computation of book profit of the resulting company under this section. (2C) For a company referred to in sub-section (2A), the book profit of the year of convergence and each of the following four previous years, shall be further increased or decreased, as the case may be, by one-fifth of the transition amount: Provided that the book profit of the previous year in which the asset or investment referred to in sub-clauses (B) to (E) of clause (iii) of the Explanation is retired, disposed, realised or otherwise transferred, shall be increased or decreased, as the case may be, by the amount or the aggregate of the amounts referred to in the said sub-clauses relatable to such asset or investment: (4) The Assessing Officer may, for the purposes of determining the value of the property provisionally attached under sub-section (1), make a reference to the Valuation Officer referred to in section 142A, who shall estimate the fair market value of the property in the manner provided under that section and submit a report of the estimate to the Assessing Officer within a period of thirty days from the date of receipt of such reference. (5) An order revoking the provisional attachment under sub-section (3) shall be made— (i) within forty-five days from the date of receipt of the guarantee, where a reference to the Valuation Officer has been made under sub-section (4); or (ii) within fifteen days from the date of receipt of guarantee in any other case. (6) Where a notice of demand specifying a sum payable is served upon the assessee and the assessee fails to pay that sum within the time specified in the notice of demand, the Assessing Officer may invoke the guarantee furnished under sub-section (3), wholly or in part, to recover the amount. (7) The Assessing Officer shall, in the interests of the revenue, invoke the bank guarantee, if the assessee fails to renew the guarantee referred to in sub-section (3), or fails to furnish a new guarantee from a scheduled bank for an equal amount, fifteen days before the expiry of the guarantee referred to in sub-section (3). (11) Steel castings and forgings and malleable iron and steel castings. (12) Cement and refractories. (13) Fertilisers, namely, ammonium sulphate, ammonium sulphate nitrate (double salt), ammonium nitrate, calcium ammonium nitrate (nitrolime stone), ammonium chloride, superphosphate, urea and complex fertilisers of synthetic origin containing both nitrogen and phosphorus, such as ammonium phosphates, ammonium sulphate phosphate and ammo-nium nitro phosphate. (14) Soda ash. (15) Pesticides. (16) Paper and pulp including newsprint. (17) Electronic equipment, namely, radar equipment, computers, electronic accounting and business machines, electronic communication equipment, electronic control instruments and basic components, such as valves, transistors, resistors, condensers, coils, magnetic materials and microwave components. (18) Petrochemicals including corresponding products manufactured from other basic raw materials like calcium carbide, ethyl alcohol or hydrocarbons from other sources. (19) Ships. (20) Automobile ancillaries. 1. Ins. by Act 10 of 1965, s. 67 (w.e.f. 1-4-1965). 2. Subs. by Act 19 of 1968, s. 30 and the Third Schedule, for "[ See sections 33(1)(b)(B)(i) and 80B(7)" (w.e.f. 1-4-1969). Earlier substituted by Act 20 of 1967, s. 33 and the Third Schedule, for"[ See sections 33(1)(b)(B)(i) and 83B(7)" (w.e.f. 9. The word "quarterly" omitted by Act 33 of 2009, s. 67 (w.e.f. 1-10-2009). 10. Ins. by Act 20 of 2015, s. 53 (w.e.f. 1-6-2015). Provided further that the book profit of the previous year in which the foreign operation referred to in sub-clause (F) of clause (iii) of the Explanation is disposed or otherwise transferred, shall be increased or decreased, as the case may be, by the amount or the aggregate of the amounts referred to in the said sub-clauses relatable to such foreign operations. Explanation .--For the purposes of this sub-section, the expression-- (i) "year of convergence" means the previous year within which the convergence date falls; (ii) "convergence date" means the first day of the first Indian Accounting Standards reporting period as defined in the Indian Accounting Standards 101; (iii) "transition amount" means the amount or the aggregate of the amounts adjusted in the other equity (excluding capital reserve and securities premium reserve) on the convergence date but not including the following:-- (A) amount or aggregate of the amounts adjusted in the other comprehensive income on the convergence date which shall be subsequently re-classified to the profit or loss; (B) revaluation surplus for assets in accordance with the Indian Accounting Standards 16 and Indian Accounting Standards 38 adjusted on the convergence date; (C) gains or losses from investments in equity instruments designated at fair value through other comprehensive income in accordance with the Indian Accounting Standards 109 adjusted on the convergence date; (8) The amount realised by invoking the guarantee referred to in sub-section (3) shall be adjusted against the existing demand which is payable by the assessee and the balance amount, if any, shall be deposited in the Personal Deposit Account of the Principal Commissioner or Commissioner in the branch of the Reserve Bank of India or the State Bank of India or of its subsidiaries or any bank as may be appointed by the Reserve Bank of India as its agent under the provisions of sub-section (1) of section 45 of the Reserve Bank of India Act, 1934 (2 of 1934) at the place where the office of the Principal Commissioner or Commissioner is situate. 1. Subs. by Act 26 of 1997, s. 57, for "Chief Commissioner or Commissioner" (w.e.f. 1-10-1996). Earlier "Chief Commissioner or Commissioner" was substituted for "Commissioner" by Act 4 of 1988, s. 2 (w.e.f. 1-4-1988). 2. Subs. by Act 25 of 2014, s. 4, for "Chief Commissioner" (w.e.f. 1-6-2013). 3. Subs. by s. 4, ibid ., for "Commissioner" (w.e.f. 1-6-2013). 4. Subs. by s. 4, ibid ., for "Director General" (w.e.f. 1-6-2013). 5. Subs. by s. 4, ibid ., for "Director" (w.e.f. 1-6-2013). 6. Subs. by s. 75, ibid ., for "two years" (w.e.f. 1-10-2014). 1-4-1968). Prior substituted by Act 13 of 1966, s. 37, for "[ See section 33 (1) (iii) (c) I" (w.e.f. 1-4-1966). 3. Subs. by Act 15 of 1965, s. 18, for "Iron ore" (w.e.f. 1-4-1965). - (21) Seamless tubes. - (22) Gears. (23) Ball, roller and tapered bearings. (24) Component parts of the articles mentioned in item Nos. (4), (5), (7) and (9), that is to say, such parts as are essential for the working of the machinery referred to in the items aforesaid and have been given for that purpose some special shape or quality which would not be essential for their use for any other purpose and are in complete finished form and ready for fitment. - (25) Cotton seed oil. - 1[(26) Tea. - (27) Printing machinery.] - 2[(28) Processed seeds. - (29) Processed concentrates for cattle and poultry feed. - (30) Processed (including frozen) fish and fish products. - (31) Vegetable oils and oil-cakes manufactured by the solvent extraction process from seeds other than cotton seed.] - 3[(32) Textiles (including those dyed, printed or otherwise processed) made wholly or mainly of cotton, including cotton yarn, hosiery and rope. - (33) Textiles (including those dyed, printed or otherwise processed) made wholly or mainly of jute, including jute twine and jute rope.]] 1. Ins. by Act 13 of 1966, s. 37 (w.e.f. 1-4-1966). 2. Ins. by Act 19 of 1968, s. 30 and the Third Schedule (w.e.f. 1-4-1969). 9. General bar to jurisdiction of civil courts, save where fraud alleged. —Except as otherwise expressly provided in this Act, every question arising between the[1] [Tax Recovery Officer] and the defaulter or their representatives, relating to the execution, discharge or satisfaction of a certificate[2] *, or relating to the confirmation or setting aside by an order under this Act of a sale held in execution of such certificate, shall be determined, not by suit, but by order of the Tax Recovery Officer before whom such question arises: Provided that a suit may be brought in a civil court in respect of any such question upon the ground of fraud. (D) adjustments relating to items of property, plant and equipment and intangible assets recorded at fair value as deemed cost in accordance with paragraphs D5 and D7 of the Indian Accounting Standards 101 on the convergence date; (E) adjustments relating to investments in subsidiaries, joint ventures and associates recorded at fair value as deemed cost in accordance with paragraph D15 of the Indian Accounting Standards 101 on the convergence date; and (F) adjustments relating to cumulative translation differences of a foreign operation in accordance with paragraph D13 of the Indian Accounting Standards 101 on the convergence date.] (3) Nothing contained in sub-section (1) shall affect the determination of the amounts in relation to the relevant previous year to be carried forward to the subsequent year or years under the provisions of sub-section (2) of section 32 or sub-section (3) of section 32A or clause (ii) of sub-section (1) of section 72 or section 73 or section 74 or sub-section (3) of section 74A. 3. Ins. by Act 14 of 1969, s. 23 (w.e.f. 1-4-1970). THE SIXTH SCHEDULE Omitted by the Finance Act, 1972 (16 of 1972), s. 43 ( w.e.f. 1-4-1973) . Originally, the Schedule was inserted by the Finance Act, 1968 (19 of 1968), s. 30 and the Third Schedule ( w.e.f . 1-4-1969) and was later amended by the Finance ( No . 2) Act, 1971 (32 of 1971), s. 30 ( w.e.f. 1-41972). 1[THE SEVENTH SCHEDULE [ See section 35E] PART A ___________ MINERALS 1. Aluminium ores. 2. Apatite and phosphatic ores. 3. Beryl. 4. Chrome ore. 5. Coal and lignite. 6. Columbite, Samarskite and other minerals of the "rare earths" group. 7. Copper. 8. Gold. 9. Gypsum. 10. Iron ore. 11. Lead. 12. Manganese ore. 13. Molybdenum. 14. Nickel ores. 15. Platinum and other precious metals and their ores. 16. Pitchblende and other uranium ores. 17. Precious stones. 18. Rutile. 19. Silver. 20. Sulphur and its ores. 21. Tin. 22. Tungsten ores. 23. Uraniferousallanite, monazite and other thorium minerals. 9. Tax on accumulated balance. —(1) Where the accumulated balance due to an employee participating in a recognised provident fund is included in his total income owing to the provisions of rule 8 not being applicable, the[4] [Assessing Officer] shall calculate the total of the various sums of 5[tax] which would have been payable by the employee in respect of his total income for each of the years concerned if the fund had not been a recognised provident fund, and the amount by which such total exceeds the total of all sums paid by or on behalf of such employee by way of[5] [tax] for such years shall be payable by the employee in addition to any other[5] [tax] for which he may be liable for the previous year in which the accumulated balance due to him becomes payable. (2) Where the accumulated balance due to an employee participating in a recognised provident fund which is not included in his total income under the provisions of rule 8 becomes payable, an amount equal to the aggregate of the amounts of super-tax on annual accretions that would have been payable under section 58E of the Indian Income-tax Act, 1922 (11 of 1922), for any assessment year up to and including the assessment year 1932-33, if the Indian Income-tax (Second Amendment) Act, 1933 (18 of 1933), had come into force on the 15th day of March, 1930, shall be payable by the employee in addition to any other tax payable by him for the previous year in which such balance becomes payable. (4) Every company to which this section applies, shall furnish a report in the prescribed form from an accountant as defined in the Explanation below sub-section (2) of section 288, certifying that the book profit has been computed in accordance with the provisions of this section along with the return of income filed under sub-section (1) of section 139 or along with the return of income furnished 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 shall apply to every assessee, being a company, mentioned in this section.] 1[(5A) The provisions of this section shall not apply to any income accruing or arising to a company from life insurance business referred to in section 115B.] 2[(6) The provisions of this section shall not apply to the income accrued or arising on or after the 1st day of April, 2005 from any business carried on, or services rendered, by an entrepreneur or a Developer, in a Unit or Special Economic Zone, as the case may be:] 3[Provided that the provisions of this sub-section shall cease to have effect in respect of any previous year relevant to the assessment year commencing on or after the 1st day of April, 2012.] [4] [(7) Notwithstanding anything contained in sub-section (1), where the assessee referred to therein, is a unit located in an International Financial Services Centre and derives its income solely in convertible foreign exchange, the provisions of sub-section (1) shall have the effect as if for the words "eighteen and one-half per cent" wherever occurring in that sub-section, the words "nine per cent" had been substituted. Explanation .—For the purposes of this sub-section,— (a) "International Financial Services Centre" shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005); (b) "unit" means a unit established in an International Financial Services Centre; (c) "convertible foreign exchange" means a foreign exchange which is for the time being treated by the Reserve Bank of India as convertible foreign exchange for the purposes of the Foreign Exchange Management Act, 1999 (42 of 1999) and the rules made thereunder.] 1. Ins. by Act 23 of 2012, s. 48 (w.e.f. 1-4-2001). 2. Ins. by Act 28 of 2005, s. 27 and the Second Schedule (w.e.f. 10-2-2006). 3. Ins. by Act 8 of 2011, s. 18 (w.e.f. 1-4-2012). 4. Ins. by Act 28 of 2016, s. 55 (w.e.f. 1-4-2017). 1[CHAPTER XIIBA SPECIAL PROVISIONS RELATING TO CERTAIN[2] [PERSONS OTHER THAN A COMPANY] (e) where in the case of a specified business, any machinery or plant or any part thereof previously used for any purpose is transferred to the specified business and the total value of the machinery or plant or part so transferred does not exceed twenty per cent of the total value of the machinery or plant used in such business, then, for the purposes of clause (ii) of sub-section (2), the condition specified therein shall be deemed to have been complied with; (f) any expenditure of capital nature shall not include[5] [any expenditure in respect of which the payment or aggregate of payments made to a person in a day, otherwise than by an account payee cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a bank account, exceeds ten thousand rupees or] any expenditure incurred on the acquisition of any land or goodwill or financial instrument.] 1. Ins. by Act 8 of 2011, s. 6 (w.e.f. 1-4-2012). 2. Ins. by Act 23 of 2012, s. 9 (w.e.f. 1-4-2013). 3. Ins. by Act 25 of 2014, s. 12 (w.e.f. 1-4-2015). 4. Ins. by Act 28 of 2016, s. 18 (w.e.f. 1-4-2018). 5. Ins. by Act 7 of 2017, s. 13 (w.e.f. 1-4-2018). 35B. [ Export markets development allowance . ]— Omitted by the Direct Tax Laws (Amendment) Act , 1987 (4 of 1988), s . 10 as amended by Act 3 of 1989, s . 95 ( w.e.f. 1-4-1989). Earlier inserted by Act 19 of 1968, s . 5 ( w.e.f . 1-4-1968). 35C. [ Agricultural development allowance .]— Omitted by s. 10, ibid. ( w.e.f. 1-4-1988) as amended by s . 95, ibid . ( w.e.f. 1-4-1989). Earlier inserted s . 5, ibid . ( w.e.f . 1-4-1968). 35CC. [ Rural development allowance .]— Omitted by s. 10, ibid. (w.e.f. 1-4-1988) as amended by s . 95, ibid . ( w.e.f. 1-4-1989). Earlier inserted s . 5, ibid . ( w.e.f . 1-4-1968). 1[ 35CCA.Expenditure by way of payment to associations and institutions for carrying out rural development programmes. —[2] [(1) Where an assessee incurs any expenditure by way of payment of any sum— (a) to an association or institution, which has as its object the undertaking of any programme of rural development, to be used for carrying out any programme of rural development approved by the prescribed authority; or (b) to an association or institution, which has as its object the training of persons for implementing programmes of rural development;[3] [or] 4 5 [(c) to a rural development fund set up and notified by the Central Government in this [behalf; or] 6[(d) to the National Urban Poverty Eradication Fund set up and notified by the Central Government in this behalf,] the assessee shall, subject to the provisions of sub-section (2), be allowed a deduction of the amount of such expenditure incurred during the previous year.] 7[(2) The deduction under clause (a) of sub-section (1) shall not be allowed in respect of expenditure by way of payment of any sum to any association or institution referred to in the said clause unless the assessee furnishes a certificate from such association or institution to the effect that— (a) the programme of rural development had been approved by the prescribed authority before the 1st day of March, 1983; and (b) where such payment is made after the 28th day of February, 1983, such programme involves work by way of construction of any building or other structure (whether for use as a dispensary, school, training or welfare centre, workshop or for any other purpose) or the laying of any road or the construction or boring of a well or tube-well or the installation of any plant or machinery, and such work has commenced before the 1st day of March, 1983.] (2A) The deduction under clause (b) of sub-section (1) shall not be allowed in respect of expenditure by way of payment of any sum to any association or institution unless the assessee furnishes a certificate from such association or institution to the effect that— (a) the prescribed authority had approved the association or institution before the 1st day of March, 1983; and