FORM NO. 58B for Certificate of Expenditure Incurred Directly By a Company In Respect Of Eligible Projects. FORM NO. 58B is relevant to an assessee who claims deduction under section 35AC of the Act in respect of expenditure incurred by him / it in any notified eligible project or scheme and the same is covered by section 35AC(2)(b). I.e. payment is made to any person other than public sector company, local authority or an approved association or institution.
(1) The certificate referred to in clause (a) of sub-section (2) of section 35AC shall be in Form No. 58A.
(2) The certificate referred to in clause (b) of sub-section (2) of section 35AC shall be in Form No. 58B.
(3) Every public sector company or a local authority or an association or institution, as the case may be, who issues a certificate referred to in sub-rule (1) or sub-rule (2) shall, in respect of the 31st March in each financial year, deliver or cause to be delivered to the Secretary, National Committee, an annual report indicating the progress of work relating to the project/scheme during the year as well as the following information (please specify the information in respect of each contributor separately) :—
(i) Names of the contributors and their addresses.
(ii) Permanent Account Number/G.I.R. Number of the contributors.
(iii) Amount(s) of contribution.
(iv) The project/scheme for which contribution was made.
(v) Total amount of contribution received during the previous year.
(vi) Total cost of the project approved by the National Committee (with date of Committee’s approval).
(4) Every public sector company or a local authority or an association or institution, as the case may be, who issues a certificate referred to in sub-rule (1) or sub-rule (2) shall send an annual statement of donation received and the details of the project to the National Committee and to each contributor by 30th June, following the financial year in which the amounts are received.]
FORM NO. 58B
[See rule 11-O (2)]
Certificate of expenditure incurred directly by a company in respect of eligible projects or schemes notified under section 35AC
This is to certify that
[name & address of the contributor] having permanent Account Number/G.I.R. Number
has incurred an expenditure of Rs.
[In figures and words] during the period from
during the financial year ________ in respect of project or scheme
Which has been notified under section 35AC vide Notification No.? SO
dated ________ issued from File No.
At an estimated cost of Rs.
For assessment year(s)
This certificate is to be signed by –
(i) A chartered accountant within the meaning of the Chartered Accountants Act, 1949 (38 of 1949); or
(ii) any person who, in relation to any State, is, by virtue of the provisions in sub-section (2) of section 226 of the Companies Act, 1956 (1 of 1956), entitled to be appointed to act as an 12/31/2012