Form 3CN, Download Income Tax Form 3CN in PDF Format

FORM No. 3CN for Application for Affordable Housing Project under Section 35AD. FORM No. 3CN is relevant for an assessee, in respect of expenditure on affordable housing projects, for which it is a perquisite to get the project notified by the board, by making an application in this form

(1) An assessee shall be allowed a deduction in respect of the whole of any expenditure of capital nature incurred, wholly and exclusively, for the purposes of any specified business carried on by him during the previous year in which such expenditure is incurred by him :

Provided that the expenditure incurred, wholly and exclusively, for the purposes of any specified business, shall be allowed as deduction during the previous year in which he commences operations of his specified business, if—

(a)  the expenditure is incurred prior to the commencement of its operations; and

(b)  the amount is capitalised in the books of account of the assessee on the date of commencement of its operations.

The following sub-section (1A) shall be inserted after sub-section (1) of section 35AD by the Finance Act, 2012, w.e.f. 1-4-2013 :

(1A)
Where the specified business is of the nature referred to in sub-clause (i) or sub-clause (ii) or sub-clause (v)
or sub-clause (vii)
or sub-clause (viii)
of clause (c) of sub-section (8) and has commenced its operations on or after the 1st day of April, 2012, the deduction under sub-section (1)
shall be allowed of an amount equal to one and one-half times of the expenditure referred to therein.

(2) This section applies to the specified business which fulfils all the following conditions, namely :—

 (i)  it is not set up by splitting up, or the reconstruction, of a business already in existence;

(ii)  it is not set up by the transfer to the specified business of machinery or plant previously used for any purpose;

(iii)  where the business is of the nature referred to in sub-clause (iii) of clause (c) of sub-section (8), such business,—

(a)  is owned by a company formed and registered in India under the Companies Act, 1956 (1 of 1956) or by a consortium of such companies or by an authority or a board or a corporation established or constituted under any Central or State Act;

(b)  has been approved by the Petroleum and Natural Gas Regulatory Board established under sub-section (1) of section 3 of the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006) and notified by the Central Government in the Official Gazette in this behalf;

(c)  has made not less than such proportion of its total pipeline capacity as specified by regulations made by the Petroleum and Natural Gas Regulatory Board established under sub-section (1) of section 3 of the Petroleum and Natural Gas Regulatory Board Act, 2006 (19 of 2006)] available for use on common carrier basis by any person other than the assessee or an associated person; and

(d)  fulfils any other condition as may be prescribed.

[(3) Where a deduction under this section is claimed and allowed in respect of the specified business for any assessment year, no deduction shall be allowed under the provisions of Chapter VI-A under the heading “C.—Deductions in respect of certain incomes” in relation to such specified business for the same or any other assessment year.]

(4) No deduction in respect of the expenditure referred to in sub-section (1) shall be allowed to the assessee under any other section in any previous year or under this section in any other previous year.

(5) The provisions of this section shall apply to the specified business referred to in sub-section (2) if it commences its operations,—

(a)  on or after the 1st day of April, 2007, where the specified business is in the nature of laying and operating a cross-country natural gas pipeline network for distribution, including storage facilities being an integral part of such network;

[(aa)  on or after the 1st day of April, 2010, where the specified business is in the nature of building and operating a new hotel of two-star or above category as classified by the Central Government;

(ab)  on or after the 1st day of April, 2010, where the specified business is in the nature of building and operating a new hospital with at least one hundred beds for patients;

(ac)  on or after the 1st day of April, 2010, where the specified business is in the nature of developing and building a housing project under a scheme for slum redevelopment or rehabilitation framed by the Central Government or a State Government, as the case may be, and which is notified by the Board in this behalf in accordance with the guidelines as may be prescribed;

[(ad)
on or after the 1st day of April, 2011, where the specified business is in the nature of developing and building a housing project under a scheme for affordable housing framed by the Central Government or a State Government, as the case may be, and notified by the Board in this behalf in accordance with the guidelines as may be prescribed;

(ae)  on or after the 1st day of April, 2011, in a new plant or in a newly installed capacity in an existing plant for production of fertilizer

The following clauses (af), (ag) and (ah) shall be inserted after clause (ae) of sub-section (5) of section 35AD by the Finance Act, 2012, w.e.f. 1-4-2013 :

(af)
 on or after the 1st day of April, 2012, where the specified business is in the nature of setting up and operating an inland container depot or a container freight station notified or approved under the Customs Act, 1962 (52 of 1962);

(ag)  on or after the 1st day of April, 2012, where the specified business is in the nature of bee-keeping and production of honey and beeswax;

(ah)
 on or after the 1st day of April, 2012, where the specified business is in the nature of setting up and operating a warehousing facility for storage of sugar; and

(b)  on or after the 1st day of April, 2009, in all other cases not falling under [clause (a), clause (aa), clause (ab), [clause (ac), clause (ad) and clause (ae)]]].

(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.

[(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 sub-clause (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.

(8) For the purposes of this section,—

(a)  an “associated person”, in relation to the assessee, means a person,—

 (i)  who participates, directly or indirectly, or through one or more intermediaries in the management or control or capital of the assessee;

(ii)  who holds, directly or indirectly, shares carrying not less than twenty-six per cent of the voting power in the capital of the assessee;

(iii)  who appoints more than half of the Board of directors or members of the governing board, or one or more executive directors or executive members of the governing board of the assessee; or

(iv)  who guarantees not less than ten per cent of the total borrowings of the assessee;

(b)  “cold chain facility” means a chain of facilities for storage or transportation of agricultural and forest produce, meat and meat products, poultry, marine and dairy products, products of horticulture, floriculture and apiculture and processed food items under scientifically controlled conditions including refrigeration and other facilities necessary for the preservation of such produce;

(c)  “specified business” means any one or more of the following business, namely :—

 (i)  setting up and operating a cold chain facility;

(ii)  setting up and operating a warehousing facility for storage of agricultural produce;

(iii)  laying and operating a cross-country natural gas or crude or petroleum oil pipeline network for distribution, including storage facilities being an integral part of such network;

[(iv)  building and operating, anywhere in India, a [hotel] of two-star or above category as classified by the Central Government;

(v)  building and operating, anywhere in India, a [hospital] with at least one hundred beds for patients;

(vi)  developing and building a housing project under a scheme for slum redevelopment or rehabilitation framed by the Central Government or a State Government, as the case may be, and notified by the Board in this behalf in accordance with the guidelines as may be prescribed;]

[(vii)  developing and building a housing project under a scheme for affordable housing framed by the Central Government or a State Government, as the case may be, and notified by the Board in this behalf in accordance with the guidelines as may be prescribed;

(viii)  production of fertilizer in India;]

The following sub-clauses (ix), (x) and (xi) shall be inserted after sub-clause (viii) of clause (c) of sub-section (8) of section 35AD by the Finance Act, 2012, w.e.f. 1-4-2013 :

(ix)  setting up and operating an inland container depot or a container freight station notified or approved under the Customs Act, 1962 (52 of 1962);

(x)  bee-keeping and production of honey and beeswax;

(xi)  setting up and operating a warehousing facility for storage of sugar;

(d)  any machinery or plant which was used outside India by any person other than the assessee shall not be regarded as machinery or plant previously used for any purpose, if—

 (i)  such machinery or plant was not, at any time prior to the date of the installation by the assessee, used in India;

(ii)  such machinery or plant is imported into India from any country outside India; and

(iii)  no deduction on account of depreciation in respect of such machinery or plant has been allowed or is allowable under the provisions of this Act in computing the total income of any person for any period prior to the date of installation of the machinery or plant by the assessee;

(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 any expenditure incurred on the acquisition of any land or goodwill or financial instrument.]

FORM No. 3CN

[See rule 11-OA (1) (a)]

Application for notification of affordable housing project as specified business under section 35AD

1.1

Name and address of the specified business (in full, block letters) :-

1.2

Details of the assessee:-

(i)

Name (in full, block letters) _____________________________

(ii)

Is there any change in the name? If yes, please furnish the old name

(iii)

PAN ____________________________

(iv)

Complete address _____________________________________

(v)

Office Phone Number (with STD code)____________________

(vi)

Mobile No. ____________ E-mail Address ________________

(vii)

Date of incorporation/ formation/ birth(DD/MM/YYYY)
(whichever applicable) ____________________

(viii)

Status

[public company – 1, private company -2, general partnership firm – 3, local authority -4, cooperative society – 5, LLP – 6, any other AOP/BOI artificial juridical person – 7, individual – 8, HUF – 9, any other person -10 (please specify:______________)]

(ix)

If a domestic company (Tick) ☑   

(x)

Income Tax Ward/Circle___________________________

(xi)

Residential Status (Tick) ☑ Resident

Non-Resident

2.1

Location of the proposed project:-

(i)

Name of the project (if any) __________________________________

(ii)

Complete address of location of the proposed project:-

 

 

 

 

2.2

Details of the proposed project:-

 

(i)Rentable area of various units in the project (indicate in sq. metres):-
Sl.No.DescriptionCategory of unit (EWS/LIG/MIG/Other Residential/Commercial)Rentable areaNumber of unitsTotal rentable area (4*5)Percentage of total allocable rentable area
1234567
Total allocable rentable area (col. 6) & total percentage (col.7)
(ii)Details of other areas to be constructed (common facilities, etc.):—

 

2.4

Proposed investment (amount in Rs. lakhs) ____________________________

2.5

Expected or actual date of commencement of the project __________________

3.1

Whether the assessee has any land or project adjacent or in the vicinity of the proposed project? (If yes, details thereof.)

Yes/No

3.2

Whether the proposed project is located or developed as a separate identifiable area?

Yes/No

3.3

Whether the project is independent of other projects or is an extension or part of any other project?

Yes/No

3.4

The nature of title the assessee holds on the land on which the project is situated.

 

3.5

Whether the project is developed under any agreement and if yes, the details of other parties (other than applicant) to such an agreement?

Yes/No

3.6

Whether each of the following conditions mentioned in sub-rule (2) of rule 11-OA is fulfilled:—

 

(i)

the project has the prior sanction of the competent authority empowered under the Scheme of Affordable Housing in Partnership framed by the Ministry of Housing and Urban Poverty Alleviation, Government of India;

Yes/No

(ii)

the date of commencement of operations of the project is on or after the 1st day of April, 2011;

Yes/No

(iii)

the project is on a plot of land which has a minimum area of one acre;

Yes/No

(iv)

at least thirty per cent of the total allocable rentable area of the project comprises of affordable housing units of EWS category;

Yes/No

(v)

at least sixty per cent of the total allocable rentable area of the project comprises of affordable housing units of EWS and LIG categories;

Yes/No

(vi)

at least ninety per cent of the total allocable rentable area of the project comprises of affordable housing units of EWS, LIG and MIG categories;

Yes/No

(vii)

the layout and specifications including design of the project to be developed and built have been approved by the State or Union territory Government or its designated implementing agency.

Yes/No

DECLARATION

I/We hereby undertake to continue to operate the affordable housing project during the period in which the benefits under section 35AD of the Income-tax Act, 1961 are to be availed.

I/We hereby certify that the above statements are true and correct to the best of my/our knowledge and belief.

_______________________

(Signature of Applicant)

(Name in Block Letters)

_______________________

(Designation of the Signatory)

_______________________

Place:_______________

Date:________________

List of Enclosures:-

1._______________________5._______________________
2._______________________6._______________________
3._______________________7._______________________
4._______________________8._______________________

 

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One thought to “Form 3CN, Download Income Tax Form 3CN in PDF Format”

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