72 tal-1990

L.N. 72 of I'MI

INCOME: TAX ACf (CA P. I l l)

Rfmout or SecrKY (I>etails or Income and Capital A5Ilf1s) Ru lei, 1990

IN cxcrcise o f tile powcrs conferred by section 94 and subscction

(4) of scction 4 of the Income Tax Act. hereinafte r referred to as "thc

Act'". and for the purposes of subsections (4) and (4A ) of the sa id

section 4. the Mini ster of Finance has made tile following rules:-

These ru les may be ci tcd as the Removal ofScercey (Details or

IlJOOme and Capi tal Assets) Rulcs. 1990.

The delailsof income and capi tal assets 10 which the provisions

of secti on 4 of the Act in reg;lrd \0 secrecy shall not apply in terms o f

subsections (4) and (4A) of the sai d sect ion 4 shall be thosccon ta ined in

t he First $(:hedule to these rul es.

J. The statement 10 be submitted in accordance with paragraph . ~

(a) and any infonnat iollto be give n in accordance wi th paragraph (b) of

subsection (4A) ofscction 4 ofthe Act shall be in the fonn se l out in the ~-.

Second Schcdule 10 these rules.

Rules 2 and 3 hereof shall apply todetailsofinoome and capital

assets contai ned in any return filed in accordance wi th secti ons 7. 43 and

44 of the Act as the case ma y be.

The Removal of Secrecy (Details of Income and Capi tal

Assets) Rules, 1986 are hereby revo ked .

FIRST SCHED ULE

( Rule 2)

"'" . - ))ehils of I ncom~ d~dar«l for Ita purpost$ of Sf'ctlon 4J orlM Ad

Pm/eMioll: Gross Earn ings, E~penses Oaimed. Nct l'rofitslLosses

(A)

Vocarion: Gross Earnin gs. Expenses Clai med . N~t l'rofiI5. Losse s

( B)

Bus;" l'ss: G ross Profit. Ex pe nses Claimed . Net l'rofi ts/Losses

(C)

Trade: G ross Ta kings. E~rcn se~ Claim ed, Net Profits/Losses

( D)

Emplo}'m ~m

( E)

Gross Sa lary (incl ud ing Overtime. Allowances. etc.)

Pl'flSioll: Gross Occupational and Social Security Pension

( F)

D il'idtnds: Gross Local and Foreign Dividends

(G )

(1'1)

BallklOll1u II1I""tsfS: Gross Local and Foreign Inte rests

RmlS: G ross and Net Rents

( I)

(J)

M . P. HOllorariaIAllo"'QI,u$: G ross Amount

Orhu Illcom~: G ross Amount (incl ud ing Commissio ns, Wife's Income. etc.)

(K)

4}6

Details of C apital Assets declared for the pUfpo5l':S of settlon 44 of the Act

Part II -

(A) lmmMrlble Properly: U rban and Rural

(B) In~utnl<l!nl.J: Local a nd Foreign

(C) Comprlny Shoru: Number . Nom inal Value and Total Nominal Val ue of Local

and Foreign Shares

(D) Busin~.sj A5SeLl': Abstract from 8alance Sheet

Either Paid Up Capital plus Reserves

Or

Capital Employed in the Busille$S

(E) Other As.se'lS: Insurance Policies, Annuiti es a nd any other asse t not falling

under the above.

Detai ls or ea plta1 Assets dedared for the purpose~ or

Part 1lI -

section 7(6) of the Act

SECON D SCHEDI JLE

(Rule 3)

Part 1-

Details of Income

(A)

Profasion

Lm

Gross Earnings

Lm

Ellpenses claimed

Net Profit/Loss C)

Lm

(8)

Voclllion

Lm

Gross Earn ings

Lm

Expenses claimed

Lm

Net Profit1Loss(')

Bus;nt5S f)

(C)

(ili)

(i)

(i i)

Lm

Lm

Lm

Gross Profit

Lm

Lm

Lm

Ellpensesclaimed

Lm

Net Profit/Loss (I)

Lm

Lm

Trade f )

(D)

(il)

(iii)

(i)

Lm

Lm

Lm

Gross Takings

Lm

Lm

Lm

Expenses claimed

Lm

Lm

Lm

Net ProfilfLoss (I)

e)

(El Employmem

Gross Salary (including Overtime,

Lm

Allowances, etc.)

(FI

Pm$lOl1

Lm

Gross Occupational Pension

Lm

G ross Social Security Pension

(01 Dividends

Lm

Gross Local Dividends

Lm

G ross Foreign Di vidends

(H)

Bank/Othu Jl1It rtSI$

Gross Locallnle resls

Lm

Lm

Gross Foreign Interests

Lm

Gross Rents

Lm

Net Rents

(1 ) M.P. Honorarilll AIIOlNl1Cts

Lm

Gross Amount

OthtrlncomL

(K)

Gross Amount (including Comm issions.

Wife's Income. etc.)

Lm

C) After all losses and OIIpitaJ allowances brought forward have been tak en in to

account.

A Separate columns show results for differen t lines o f business I trade .

C) Different sources of whole-time and part-time employment are incl uded in gross

salary.

Diffe rence between gross and nel rents represen ts ground ren ts, burthens and

('t)

in terests on loo ns.

Part 11 - Details orCapl lal AsseU

e)

Immovable Properly

(Al

Urban

Rural

(B)

In vmmtllls(l

Local

Foreign

Company Sharts

(C)

( ii )

(ii i)

(i)

Local

Number of shares Cl

el

Nominal value o f shares

Total nominal value of shares (0)

(iY)

(vi)

Numbe r of sha res C)

e)

Nominal value of shares

Total nominal value o f shares (0)

(i)

(ii)

(ii i)

Foreign

Nu mber of shares C)

e)

Nominal yalue o f shares

Total nominal yalue ofshares ft)

(D)

8115ineSJ ASSfIS

Abstract from Balance Shee l

Eilhn Paid up ca pital plus reserves

0,

Capital employed in Ihe business

Ollrn A sUIS

(i) Insurance policies

<i i) Annuities

<iii) A ny otlier BSSCt not falling umk r the above

Urban - address and use to which the property is put.

Rural - description to enable its proper identifie3lion by namin g locality and

givi ng area.

Includes sharcholdel"$'/directors' loans to compa nies.

Columns show numbocr of sha res and nomi nal value of shares in diffe re nt

companies. Holdings of diffe rent classes of shares in the same company nfe

grouped toget he r.

Columns show the total nominal value of shares in the different companies in

(4)

which taxpaye r has a holding.

~llIils of Ca pll lll Assets de.: lar rd ror Ihr pu rpo!il'li or se.:lkm 7(6)

l'arl 111 _

Descriptio n of Capital Assets

Cost of Acq uisi tion or Actual Amou nt or

Valueas on3IsI Dccember .I971

(which ever is the less)

,)

,)

b)

b)

,)

,)

d)

d)

,)

,)

o

o

g)

g)

il.

0""',,,

tppuhbliktt mid-I),,..n ...... , ,.· j.lnlo<maujoN _ K ...

p,.~ b ..... ~,,,, ,~"""""""

M_." fl-I .... mpc",. toI-G'.rn _ I"mwd. "" r"'"mm,", /'rio,,", """