40A. Form of application for accelerated depreciation allowance under paragraph 7A(2)(a) of the Third Schedule to the Ordinance

¹[40A. Form of application for accelerated depreciation allowance under paragraph 7A(2)(a) of the Third Schedule to the Ordinance.—

(1) The application for accelerated depreciation allowance referred to in paragraph 7A(2)(a) of the Third Schedule to the Ordinance shall be made and verified in the following form, namely:-

From of application for accelerated depreciation allowance under paragraph 7A(2)(a) of the Third Schedule to the Income-tax Ordinance 1984 (XXXVI of 1984)

(i) Name of the company:

(ii) Date of incorporation of the company:

(iii) Location of its registered office (with full address):

(iv) Location of the undertaking (name of place and district in which it has been set up):

(v) Tax Identification Number (TIN) and name of the Zone of Commission of Taxes and the Circle of Deputy Commissioner of Taxes under whose jurisdiction the company is assessed or will be assessed:

(vi) Value Added Tax (VAT) Registration No…………..

(vii) Date of approval of the undertaking for the purpose of section 46A and the name under which the approval was given:

(viii) Date of opening of letter of credit:

(ix) Date of arrival of machinery or plant:

(x) Date on which the machinery or plant was completely installed:

(xi) Date on which the expansion unit of the undertaking enjoying exemption from tax under section 46A of the Ordinance started commercial production or operation/Sate on which the industrial undertaking started the use of machinery or plant in the treatment and disposal or toxic and environmentally hazardous wastes or in the research and development:

(xii) Amount of share capital authorized, issued or proposed to be issued and the class of shares and their value, if applicable:

(xiii) Exact nature of business of the undertaking:

(xiv) Name and address of the managing director and other directors of the company with particulars of their holdings and interest in the company and other companies or enterprise.

Place …………………………………….

Date ……………………………………..

Signature of the

Managing Director/Director

Verification

I, ……………………….. do hereby solemnly affirm that the information given above is correct and complete.

Place …………………………………….

Date ……………………………………..

Signature of the

Managing Director/Director

*Delete whichever is inapplicable.

(2) The application shall be accompanied by-

(i) an attested copy of certificate of incorporation;

(ii) a certificate of the commencement of business in the case of expansion unit of the undertaking enjoying exemption from tax under section 46A of the Ordinance;

(iii) a certificate from the Department of Environment to the effect that the installed machinery is essential for treatment and disposal of toxic and environmentally hazardous wastes if the machinery os proposed to be used for such purpose;

(iv) detailed description of place for research and development if the machinery is proposed to be used for such purpose;

(v) a certified copy of the Memorandum and Articles of Association of the company;

(vii) a certificate to the effect that the undertaking has not applied or shall not apply for approval under section 46A of the Ordinance in the following form; namely:-

“I hereby certify that no application in respect of the undertaking ………………………………. (name of the undertaking) has been made or shall be made to the Board for approval of, and that the said undertaking has not been approved for , exemption from payment of tax under section 46A of the Income-tax Ordinance, 1984 (XXXVI of 1984), for any period.

Place …………………………………….

Date ……………………………………..

Signature of the

Managing Director/Director

(3) On receipt of an application under sub-rule (1), the Board may make such enquiries as it may consider necessary and may call for such further particulars as it may think fit.

(4) If the Board is satisfied that the undertaking is one which qualifies for accelerated depreciation under paragraph 7A of the Third Schedule to the Ordinance, it shall issue an order to that effect and send a copy thereof to the company.

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Nowshad Amin Chowdhury