Investment Incentives Order, 2001 · As enacted · Part VIII
60. Controller to issue statement of income
Official textFrom Attorney General's Chambers, unchanged
For each year of assessment, the Collector shall issue to an export service company or firm a statement for that year of assessment showing the amount of income ascertained under subsection (2) of section 59 which will qualify for the relief provided by this section, and Parts XI and XII of the Income
Collector
"Collector" means the Collector of Income Tax appointed under the Income Tax Act;
Tax Act !relating to objections and appeals) and any regulations made thereunder shall apply, with the necessary modifications, as if that statement were a notice of assessment given under those provisions.
Subject to subsection (7) of section 50, where any statement issued under subsection (1) has become final and conclusive, 100o/o of the amount of the
· qualifying income referred to in subsection ( 1) shall not form part of the statutory income of the export service company or fi.rm for the year of assessment to which the income relates and shall be exempt from tax.
export service company
"export service company" means a company which has been issued with a certificate under subsection (2) of section 56;
Terms defined in this Act
Collector
Defined · s 3"Collector" means the Collector of Income Tax appointed under the Income Tax Act;
export service company
Defined · s 55"export service company" means a company which has been issued with a certificate under subsection (2) of section 56;
Part IX
International Trade Incentives
Part X
Foreign Loans for Productive Equipment
Part XI
Investment Allowances
Part XII
Part XIII