59AA. Form of application to be made by a physical infrastructure facility for exemption from tax under section 46C of the Ordinance

¹[59AA. Form of application to be made by a physical infrastructure facility for exemption from tax under section 46C of the Ordinance-

(1) An application under clause (d) of sub-section (3) of section 46C of the Ordinance for approval for the purposes of that section in respect of a physical infrastructure facility shall be made in the following form, in duplicate, duly signed and verified by the managing Director or Director of the company, namely-
Form of application under section 46C of 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 physical infrastructure facility:

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

(vi) Date of opening of the letter of credit;

(vii) Date or dates on which the physical infrastructure facility for which approval is sought started

(a) Trial operation:

(b) Commercial operation:

(viii) Date on which the issued, subscribed and paid up capital of the company reached the figure of taka two million;

(ix) The present paid up capital of the company:

(x) Authorized capital of the company:

(xi) Amount of share capital issued;

(xii) Amount of investment involved in setting up and running the physical infrastructure facility for which approval is sought;

(xiii) Minimum number of employees required to be engaged:

(xiv) Whether the physical infrastructure facility uses electric energy or gas (the date on which the electricity of gas connection was physically given should be mentioned):

(xv) Value added Tax (VAT) Registration Number/Turn over tax Number (if required):

(xvi) Exact nature of business of the physical infrastructure facility:

(xvii) Names, addresses and TINs of the Managing Director and Directors of the company with particulars of their holdings and interest in the company and other companies or enterprises:

1. Date ……………………………………..

   Signature of the Managing Director/Director

Verification

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

Signature of the

Managing Director/Director.

(2) The application shall be accompanied by-

(i) an attested copy of certificate of incorporation;

(ii) a certificate of commencement of business;

(iii) an attested copy of the Memorandum and Articles of Association of the physical infrastructure facility company;

(iv)in case the physical infrastructure facility has already commenced business, certified copy of the audited balance sheet and profit and loss accounts for the period for which the accounts have been prepared (for an incomplete year trail balance may be submitted);

(v) in case the physical infrastructure facility for which approval is sought has been acquired from another party, an attested copy of the agreement between the applicant company and the seller enter into for the acquisition of the physical infrastructure with list and value of assets acquire;

(vi) a certificate to the effect that the physical infrastructure facility has not applied or shall not apply for accelerated depreciation allowance under paragraph 7 or 7A of the Third Schedule to the Ordinance in the following form, namely:

“I hereby certify that no application in respect of the physical infrastructure facility……………….(name of the undertaking etc.) has been made or shall be made to the Board for, and that the said physical infrastructure facility has not been allowed, accelerated depreciation allowance under paragraph 7 or 7A of the Third Schedule to the Ordinance for any period.

1. Place…………………………………….. Date ……………………………………..

   Signature of the Managing Director/Director

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

(4) If the Board is satisfied that the company setting up the physical infrastructure facility for the purposes of section 46C of the Ordinance, it shall make an order to that effect and send a copy there of to the company.

(5) Where the Board has passed an order in writing refusing to approve the physical infrastructure facility for purposes of section 46C of the Ordinance, the person writing to the Chairman of the Board for review, who will either himself review the order or may constitute a committee consisting of three Members of the Board to review the same. The review order shall be passed after giving the applicant an opportunity of being heard and the decision of the review shall be final and conclusive.]

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¹ Ins. by S.R.O No. 232-L/IT/2011, dt: 05-07-2011

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Nowshad Amin Chowdhury