 bill no 1 of 1"3 the finance bill, 1963a bill to give effect to the financial proposals of the central government for the financial year 1963-64 be it enacted by parliament in the fourteenth year of the republic of india as follows:-1 (1) this act may be called the finance act, 1963 short title (2) save as otherwise provided in this act, sections 3, 6, 7, 9, 11, ~!cc:m-5 12, 13, and 21 shall be deemed to have come into force on the 1st ment day of april, 1963 2 (1) subject to the provisions of sub-sections (2), (3), (4) and in~me-tas (5), for the assessment year commencing on the 1st day of april,:c super-1963,-10 (a) income-tax shall be charged at the rates specified in part i of the first schedule and,-dot 11161 (i) in the cases to which paragraphs a, b, c and e of that part apply, shall be increased by a surcharge for purposes of the union and, except in the cases to which the said paragraph e applies, a special surcharge, calculated in either case in the manner provided therein; and (ii) in the cases to which paragraphs a and c of the aforesaid part apply, shall further be increased by an additional surcharge for purposes of the union (hereinafter referred to as additional surcharge) calculated in the manner provided in the said schedule; (b) super-tax shall, for the purposes of section 95 of the - income-tax act, 1961 (hereinafter referred to as the income-tax act), be charged at the rates specified in part ii of the first schedule, and, in the cases to which paragraphs a, band c of that part apply, shall be increased by a surcharge for purposes 2781 (8) ls-i - of the union and a special surcharge, calculated in either case in the manner provided therein - (2) in making any assessment for the assessment year commencing on the 1st day of april, 1963,-(4) where the total income of an assessee, not being a 5 company, includes any income chargeable under the head clsalaries", the income-tax payable by the assessee on that part of his total income which consists of such inclusion shall be an amount bearing to the total amount of income-tax payable according to the rates applicable under the operation of the 10 finance (no2) act, 1962, on his total income the same propor-20 of 1982 tion as the amount of such inclusion bears to his total income; (b) where the total income of an assessee, not being a company, includes any income chargeable under the head "salaries" on which super-tax has been or might have been de- is ducted under the provisions of sub-section (1) of section 192 of the income-tax act, the super-tax payable by the assessee on that portion of his total income which consists of such inclusion shall be an amount bearing to the total amount of super-tax payable according to the rates applicable under the operation of 20 the finance (no2) act, 1962, on his total income the same pro-20 of 1862 portion as the amount of such inclusion bears to his total income (3) in making any assessment for the assessment year commencing on the 1st day of april, 1963, where the total income of a company, other than the life insurance corporation of india established under 25 the ufe insurance corporation act, 1956, includes any profits and 31 of 1951 gains from life insurance business, the super-tax payable by it shall be the aggregate of the tax calculated-(i) on the amount of profits and gains from life insurance business so included, at the rate applicable to the life insurance 30 corporation of india in accordance with paragraph e of part ii of the first schedule; and (u) on the remaining part of its total income, at the rate applicable to the company on its total income (4) (4) in cases to which chapter xii of the income-tax act 35 applies, the tax chargeable shall be determined as provided in that chapter, and with reference to the rates imposed by sub-section (1) or the rates as specifled in that chapter, as the case may be (b) in computing· under section 209 of the income-tax act, the ad-mee tax payable by an assessee, the additional surcharge shall be 40 included (c) 'n1e amount of income-tax to be deducted at source under subllectioll (1) of section 192 of the income-tax act from income charge- able under the head "salaries" shall include an additional surcharge - equai in ajpolint to the additional surcharge which would have beed leviable if the estimated income under that head had been the total ijdcome (5) in respect of any assessment for the assessment year com-s mencing on the 1st day of april, 1963-10 is (i) an assessee being an indian company or any other company which has made the prescribed arrangements for the declaration and payment of dividends within india or an assessee (other than a company) whose total mcome includes any profits and gains derived from the export of any goods or merchandise out of india, shall be entitled to a deduction, from the amount of income-tax and super-tax with which he is chargeable of an amount equal to the income-tax and super-tax calculated respectively at one-tenth of the average rate of income-tax and of the average rate of super-tax on the amount of such profits and gains included in the total income; 85 of lisl 20 0 (ii) where an assessee of the type referred to in clause (i) is engaged in the manufacture of any articles in an industry specified in the first schedule to the industries (development and regulation) act, 1951 exports after the 28th day of february 1963, such articles out of india, he shall be entitled, in addition to the deduction of tax referred to in clause (i), °to a further deduction of tax with which he is chargeable for the assessment year of an amount equal to the income-tax and super-tax calculated respectively at the average rate of such taxes on an amount equal to two per cent of the sale proceeds received by him on such export; 30 3s 40 - (iii) where an assessee of the t~:pe referred to in clause (0 engaged in the manufacture of any articles in an industry specified in the said first schedule sells after the 28th day of february, 1963, such articles to any other person in india who himself exports them ou t of india during the previous year and evidence is produced before the income-tax officer of such articles having been so exported, the assessee shall be entitled to a deduction from the amount of income-tax and super-tax with which he is chargeable for the assessment year of an amount equal to the income-tax and super-tax calculated respectively at the average rate of such taxes on a sum equal to two per cent of the sale proceeds received in respect of such articles by the manufacturer - from the exporter; (iv) the total of the deductions under this sub-section shall in no case exceed the amount of income-tax and super-tax otherwise plyable by the assesseei - (v) nothing contained in clauses (ii) and (iii) sjau apply in relation to fuels, textiles (including those dyed, printed or otherwise processed), sugar, vegetable oils and vanaspathi, cement and gypsum products and cigarettes respectively specified in items, 2, 23, 25, 28,· 35 and 38 of the first schedule to 5 the industries (development and regulation)  act, 1951 and in 85 of 1951   relation to such other articles in any other industry specified in that schedule which may be notified in the official gazette by tbe central government having regard to the progress achieved by the industry or any other relevant factors; 10 (vi) the amount of any profits and gains derived from the export of any goods or merchandise out of india in respect of which deduction of income-tax and super-tax is admissible under clause (i) shall be computed in accordance with the rules made by the central board of revenue in this behalf is (6) in cases in which tax has to be deducted under sub-section (2) of section 192 and sections 193 to 195 of the income-tax act at the rates in force, the deduction shall be made at the rates specified in part iii of the fint schedule (7) for the purposes of this section, and of the rates of tax 30 imposed thereby, and of section 3-(i) the expressions "assessment year", "average rate of income-tax", "average rate of super-tax", "partner", "tax" and "total income" have the meanings respectively assigned to them under clauses (9), (10), (ll), (23), (43) and (45) of aection 2 2s of the income-tax act; (ii) the expression "earned income" has the same meaning as in section 2 of the finance (no2) act, u~62 20 of 1862 (8) for the purposes of paragraphs a and c of part i of the first schedule, the expression "residual income" means the amount of the 30 total income as reduced by-(a) the amount of the capital gains, if any, included therein; and (b) the amount of tax (exclusive of additional surcharge) which would have been chargeable on such reduced total income 35 if it had been the total income no part of which had been exempt from tax and on no portion of which deduction of tax had been admissible under any provisions of the income-tax act or this act c: 3 notwithltanding anything contained in the income-tax act or additional sub-se~tiol1 (5~ of section 2 of this act, i~ calculating any relief, ~~~c~~rg: rebate or deduction in respect of the tax payable on the total income taken into f h· h t" h' h'  account o an assessee w ic con ams any mcome on w ic no income-tax 15 for pur-5 payable or in respect of which a deduction is admissible, no account pdosdes °t! e uc ion, shall be taken of the additional surcharge etc 4 in section 2 of the income-tax act, for clause (44), the follow- amending clause shall be, and shall be deemed always to have been, subs- :~ti~:i tituted, namely:-10 "(44) 'tax recovery officer' means-(i) a collector or an additional collector; (ii) any such officer eplpowered to effect recovery of arrears of land revenue oi: other public demand under any law relating to land revenue or other public demand for the 15 time being in force in the state as may be authorised by the state government, by general or special notification in the official gazette, to exercise the powers of a tax recovery officer; (ui) any gazett~d officer of the central or a stat~ 20 government who may be authorised by the central government, by general or special notification in the official gazette, to exercise the powers of a tax recovery officer;" 5 in section 13 of the income-tax act, in clause (b), for the words amend-"trust or charitable institution", the words "trust for charitable pur- men tit ofls sec or  25 poses or a charitable institution" shall be, and shall be deemed always to have been, substituted 6 in section 40 of the income-tax act, in clause (c), before the amend-explanation, the following bub-clause shall be inserted, namely: -~~ri~:~o   (iii) any expenditure which results directly or indirectly 30 in the provisioil vi ally r~muneration, benefit or amenity to an employee to the extent that it exceeds five thousand rupees per month for any period after the 28th day of february, 1963: provided that in computing the aforesaid expenditure, any payments by way of gratuity or any sums comprised in the 35 transferred balance of an employee participating in a recognised provident fund referred to in clause (vii) of sub-section (1) of section 17, or the amount of any compensation referred to in clause (i) or any payment referred to in clause (ii) of sub-section (3) of that section shall not be taken into account" - 40 7 in section 58 of the income-tax act, in clause (b), after the amendwords brackets and figure "referred to in sub-clause (i) ", the words, mect~t ofs8 , ~ ~  brackets and figures "or in sub-dause (iii)" shall be inserted  - - - 8 tn section 139 of the income-tax act,-o (1) in sub-section (1), in clause (iii) (b) of the proviso, the words "as finally assessed" shall be, and shall be deemed always to have been, omitted; (2) after sub-section (1), the following sub-section shall s be, and shall be deemed always to have been, inserted, namely:-"(la) where as a result of an order under section 154 or section 155 or section 250 or section 254 or sec;tion 260 or section 262 or section 264, the amount of tax on which interest was payable under clause (iii) of the proviso to sub- 10  section (1) has been reduced, the interest shall be reduced accordingly, and the excess interest paid, if any, shall be refunded"; (3) after sub-section (7), the following sub-section shall be inserted, namely: -15 u(8) notw~thstanding anything contained in clause (iii) of the proviso to sub-section (1), the income-tax officer may, in such cases and under such circumstances as may be prescribed, reduce or waive the intere~t payable by any person under any provision of this section·· 20 ¥nsertion 9 after section 141 of the income-tax act, the following section of new seclion 141a shall be inserted, namely :-relief to be given to, and interest to be recovered from, assesseea incertaln - "141a (1) if any assessee having furnished a return under section 139 before the 1st day of january of the assessment year, pays before that date the tax determined as payable by him in 2s pursuance of a provisional assessment made under section 141 or a regular assessment made under section 143 or section 144, or where neither of such assessments has beer made before that date, the tax payable by him on the basis of such return after taking into consideration the tax paid for the assessment year 30 under the provisions of chapter xvii-b or chapter xvii-c, b:e shall be entitled to a deduction from the amount of income-tax and super-tax with which he is chargeable of an amount equal to one per cent of the amount of tax so paid by him before the said date (2) if any assessee does not furnish a return under section 139 before the 1st day of january of the assessment year and no regular assessment under section 144 is made before the said date, he shall, in addition to the amount of income-tax anel luper-tax with which he is chargeable, be liable to pa, an amount 40 - - calculated at two per cent per annum from the said 1st day of january to-(i) in the case where no return is furnished, the date on which a regular assessment is made under section 144; s (ii) in the case where a return is filed after the said 1st day of january, the date on which a provisional assessment under section 141 or a regular assessment under section 143 or section 144, whichever is earlier, is made, the calculation in the case referred to in clause (i) being made 10 with reference to the tax payable on regular assessment under section 144 and in the case referred to in clause (ii) being made with reference to the tax payable on the basis of the return, and in either case after taking into consideration the tax already paid under the provisions of chapter xvii-b or chapter xvii-c is (3) if any assessee having furnished a return under section 139 before the 1st day of january of the assessment year does not pay before that date the tax payable on the basis of such return after taking into consideration the tax already paid for the assessment year under the provisions of chapter xvii-b 20 or chapter xvil-c and no provisional assessment under section 141 or regular assessment under section 143 or section 144 is made before the said date, he shall, in addition to the amount of income-tax and super-tax with which he is chargeable, be liable to pay an amount calculated at two per cent per annum from 2s the said 1st day of january to the date on which a provisional assessment under section 141 or a regular assessment under section 143 or section 144, whichever is earlier, is made, the calculation being made with reference to the tax payable on the basis of the return after taking into consideration the tax already paid 30 under the provisions of the aforesaid chapters (4) any sum paid by an assessee in accordance with the provisions of sub-section (1) otherwise than in pursuance of a provisional assessmen,t made under section 141 or a regular assessment under section 143 or section 144, shall be treated as a 3s payment of tax in respect of the relevant assessment year, and credit therefor shall de given to the assessee in the regular assessment" 10 in section 146 of the income-tax act, for the words and figures amend-"in accordance with the provisions of section 143 or 144", the words :~n~:~4g 40 and figures "in accordance with the provisions of section 143 or section 144~' s8a11 be substituted, - - =~f 11 in section 209 of the income-tax act, after clause (c) and section 209 before the explanation, the following clause shall be inserted, namely:-"( d) in cases where the income-tax officer makes an amended order referred to in sub-section (3) of section 210 on the basis s of a provisional assessment, the total income on the basis of which the relevant provisional assessment had been made ~ hall be substituted for the total income referred to in clause (a) " 2 in section 210 of the income-tax act, for sub-section (3), the following sub-section shall be substituted, namely:-10 amendment of section 210 "(3) if, after the making of an order by the income-tax officer under this section and before the 15th day of february of the financial year, a regular assessment or a provisional assessment under section 141 of the assessee (or of the registered firm of which he is a partner) is made in respect of a previous year is later than that referred to in the order of the income-tax officer, the income-tax officer may make an amended order requiring the assessee to pay in one instalment on the specified date, or in equal instalments on the specified dates, if more than one, fauing after the date of the amended order, the advance tax computed 20 on the basis of the total income determined for the purposes of the regular assessment or the provisional assessment aforesaid as reduced by the amount, if any, paid in accordance with the original order" amendment of section 215 13 in section 215 of the income-tax act, for sub-section (2), the 2s following sub-section shall be substituted, namely :-  "(2) where before the date of completion of a regular assessment, a provisional assessment is made under section 141 or tax is paid by the assessee otherwise than in pursuance of such a provisional assessment-30 (i) interest shall be calculated in accordance with the foregoing provision up to the date on which the tax is paid either as provisionally assessed or otherwise; and (ii) thereafter interest shnll be calculated at the rate aforesaid on the amount by which the tax as so paid (in so 35 far as it relates to income subject to advance tax) falls short  of the said seventy-five per cent:' amendment of section 220 14 in section 220 of the income-tax act, to sub-section (2), the following proviso shall be, and shall be deemed always to have been, added, namely :-40 "proviued that, where as a result of an order under section 154, or section 155, or section 250, or section 254, ort section 260, ii the finance bill, 1963 (as introduced in lok sabha) ihe-print with line numbers7 1 page li, line 19, - --" if , after "act" insert 2 page 11, line 20,-1111 , after "(1)" insert 3 correct line numbers on pages 15, 18, 21, 25 and 30 new dellii, march 6~ 1963 phaigun-ato, ~1~ {sakal ~,r section 262, or section 264, the amount on which interest wu! payable under this section had been reduced, the interest shall be reduced iiceordingly and the excess interest paid, if any shall be refunded" 5 15 in section 223 of the income-tax act, in sub-section (2), the amend-~ords "in a district" shan be, and shall be deemed always to have ~u~~~2i been, omitted 16 in'section 233 of the income-tax act, for the words and figures amend-"aaesltn~t made under section 143 or 144", the words and figures ~~u~~~3 10 "assessment made under section 143 or section i44'" shall be substituted ,  17 in section 271 of the income-tax act, in sub-section (1) in amtitd:' ': clause (a), the word "his" occurring before the words "total income" :c~:i'li~' shall be omitted is 18 in section 291 of the income-tax act, in sub-section (1), after amendthe words "the evasion of (layment of tax on income", the words ~u~~i91 !lit' is necessary or expedient so to do" shall be inserted 18 in section 297 of the income-tax act, in sub-section (2) in arnetdf clause (e), before the words, figures and letter "section 23a of the ~~uo~ 297 20 repealed act", the words, l¥ackets and letters "subject to the provisions of clause (9) and clause (j) of this sub-section" shall be, and shall be deemed always to have been, inserted 20 -in the second schedule to the income-tax act,-amendment of (1) in part i, after rule 19, the following rule sllall, be; and the second shall be deemed always to have been, inserted, namely: _ schedule "1ga a tax recovery officer, being a collector or an entrustadditional collector, may, subject to the approval of the state r:!~r::i~f government, entrust any of his functions as tax recovery ~~~~g:_ officer to any other officel' lower than him in rank who is tor or empowered to effect recovery of arrears of land revenue or ~~1l!~~;1 other public demand under any law relating to land revenue or other public demand for the time being in force in the state and such officer shall, in relation to functions so entrusted to him', be deemed to be a tax recovery officer"; 35 40 (2) in rule 86, for sub-rule (1), the following sub-rule shan be, and shall be deemed always to have been, substituted, 118me1y:-"(1) an appeal from any original order passed by the tax recovery officer under this schedule, not being an order whietr is' conclusive, shall li~ - <s> in the-' case of a tax recovery officer, being a - cohectbr or an additiod81 collaet~ or an officer referred tt:) in sub-clause (iii) of clause (44) of section 2, to the revenue autho:ojty to which appeals ordinarily lie against the orders of a collector under the law relating to land revenue of the state concerned; and 10 (b) in any other case, to the revenue authority 19 5 which an appeal or an application for revision would ordinarily lie, if the order passed by him were the order under the law relating to land revenue or other public demand for the time being in force in the state eoncerned" 21 in section 5 of the wealth-tax act, 1957,-(1) in sub-section (1)-amend- ent of ac:u,ot 1t57 (a) clause (xv) shall be omitted; (b) in clause (xvi), for the words "twelve year national plan savings certificates held by the assessee", the words is "twelve year national plan savings certificates, ten year defence deposit certificates and twelve year national defence certificates held by the rssessee, to the extent to whicl) the amount of such certificates or· deposits do not exceed in each case the maximum amount permitted to be invested or 20 deposited therein" shall be substituted; (2) to sub-section (3), the following proviso shall be added, namely:-"provided that for the purpose of making any assessment for the financial year commencing on the 1st day of april,2s 1963, the provisions of clause (b) shall not apply to ten year defence deposit certificates and twelve year national defence certificates held by the assessee on the relevant valuation date" 2z in the indian tariff act, 1934 (hereinafter referred to as the 30 tariff act) ,-(1) in section 2a,-(i) in sub-section (1) ,-(a) after the words "manufactured in india" occurring before the explanation, the following shall be 35 inserted, namely;-"and if such excise duty on a "like article i leviable at any percentage of its value, the custom duty to which the imported article shall be 80 liable - shall be calculated at that percentage of the value of the importe,d article"; 5 (b) in the expzanation, for the words, "in this subsection", the words, brackets, figure and letter "in this sub-section and sub-section (la)" shall be substituted; (ii) after sub-section (1) the following sub-section shall be inserted, namely:-10 "(la) for the purpose of calculating under thil section the customs duty on any imported article equal to the excise duty for the time being leviable on a like article, if produced or manufactured in india, where such excise duty is leviable at any percentage of its value, the value of the imported article shall, notwithstanding anything contained in section 14 of the customs act, 1962 be the aggregate of-15 (i) the value of the imported article as calculated under the said section 14; 20 (ii) any duty of customs chargeable on that article under section 12 of the customs ac~ 1962 other than the duty referred to in sub-sectioll (1) and (iii) any sum chargeable on that article under any law for the time being in force as an llddition to, and in the same manner as, a duty of customs"; 25 (2) the first schedule shall be amended in the manner specified in the second schedule to this act 23 (1) in the case of goods chargeable with a duty of customs s~ which is specified in the first schedule to the tariff act as amended :r cui::' by this act or any subsequent act'of parliament, or in that schedule 30 read with any notification' of the central government for the time being in force, there shall be levied and collected as an addition to, and in the same manner as, the total amount so chargeable, a sum equal to 10 per cent of such amount:  provided that in computing the total amount so chargeable, any 35 duty chargeable under section 2a of the tariff act or section 24 of this act shall not be included (2) sub-section (1) shall cease to have effect after the 31st day of march 1964 except as respects things done or omitted to be done • ,  before such cesse!'; and section 6 of the general clauses act, 1897 shell - ·apply upon such cesser as if the said sub-section 11:-1 then been repealed by a central act regulatory u (1) there shall be levied and collected, with effect from such :::a7o~! ~ate as may be specified in this behalf by the central government by notification in the official gazette, on all goods mentioned in the 5 first schedule to the tariff act as amended by this act or any subsequent act of parliament, a regulatory duty of customs which shall be-(a) twenty-five per cent of the rate, if any, specified in the said first schedule read with any notification issued under jo section 3a or sub-section (1) of section 4 of the tariff act; or (b) ten per cent of the value of the goods as determined in accordance with the provisions of section 14 of the customs act, 1_ ~~~ whichever is higher: 15 provided that different dates may be specified by the central government for different kinds of goods (2) sub-section (1) shall cease to have effect after the 31st day of march, 1964 except as respects things done or omitted to be done before such cesser; and section 6 of the general clauses act, 1897 20 10 of 1887 shall apply upon such cesser as if the said sub-section had then been re~ed by a central act (3) the duty of customs leviable under this section in respect of any goods referred to in sub-section (1) shall be in addition to any other duty of customs chargeable on such goods under the customs 25 act, 1962 ~2 of 1982 ,  ' (4) the provisions of the customs act, 1962 and the rules and 52 of 1982 regulations made thereunder, including those relating to refunda uu:l exemptions from duties, shall, as far as may be, apply in relaticm to the levy and collection of the regulatory duty of customs leviable ~o under this section in respect of any goods as they apply in relation to the levy and collection of the duties of customs on such «oods under that act or those rules and regulations - (5) every notification issued under sub-section (1) shall, as soon  may be after it is issued, be placed before each house of 'parliament is 25 in the indian tariff (amendment) act, 1949, in sections~ and ~, for ttle figures "1963", the fi8ures "1964" shall be substituted - - 26 in the central excises and salt act, 1944 (hereinafter referred amendi to as the _cenkalexcises act), in the first schedule,-~~nl :f (a) in item no 4,-1144 (,1) under "i uftmanufactured tobacco-"-s for the entry in the third column against sub-item (5), the entry "one rupee and sixty naye paise" shall be substituted; (2) under "ii manufactured tobacco-"- for the entries in the third column against sub-items 10 (2) (i), (2) (ii), (2) (iii) ,(2) (iv) and (2) (v), the entries "thirty-four rupees", "seventeen rupees", "eight rupees and fifty naye paise", "four rupees and twenty nay~ paise" and "two rupees" shall, respectively, be substituted; is (b) in item no6, for the entry in the third column, the entry "four hundred and ten rupees per kilolitre at fifteen deg:pees ·ot centigrade thermometer" shall be substituted; (c) in item no7, for the entry in the third column, the entry "two hundred and ten rupees per kilolitreat fifteen degrees of 20 centigrade thermometer" shall be substituted; (d) in item no8, for the entries in the third columnagainst sub-items (a) and (b), the entries "three hundred and ninety rupees per kilolitre at fifteen degrees of centigrade thermometer" and "three hundred and seventy rupees per kiloiitre at fifteen 2s degrees of centigrade thermometer" shall, respectively, be substi-luted; (ii) in item no9, ior the 'cntry in the third column, the «l'try''ode aundred and ninet:·-:tve rupees per metric ·tonne" shall be subatituted; 30 (1) in item no '13, for the entry in the third column, the entry "thirty-two rupees per quintal" shall be substituted; ,(,) -in ·!tem no '14,-(1) in sub-item 1 (4) (ii), the words "and ready mixed paints, sold by w,eight" occurring in the second column shall 3s be omitted; - (2) in sub-item 1 (4) (iii), tl1" words "sold by volume" occurring in the second column shall be omitted; (3) for the entries in the third column ,against sub~items 1(1) (ii) , 1(3) (ii) , 1(3) (iv) , 1(4) (i), 1(4) (ti), 1(4)(tii), nci) and iii (i), the entries "seventy-five naye paise per kilo-  gtam", "thirty rupees and fifty naye paise per quintal", - "one rupee and five naye paise per litre", "seventy-five naye paise per kilogram" "nineteen rupees and fifty naye paise per quintal" "sixty-five naye paise per litre", "thirty-five naye paise per litre" and "one rupee and fifty naye paise per litre" shall, respectively, be substituted; 5 (h) in item no 15, for the entries in the third column against sub-items i(l)(i), 1(1) (ii) , 1(2), 1(3), ii(i) and 1i(&i), the entries "fifteen rupees and fifty naye paise per quintal", "eighteen rupees per quintal" "thirty-seven rupees and fiftyfive naye paise per quintal" uthirty-seven rupees and fifty-five 10 naye paise per quintal" ''thirteen rupees and twenty-five naye paise per quintal" and "fifteen rupees and fifty naye paise per quintal" shall, respectively, be substituted; (i) in item no 17, for the entry in the third column against sub-item (5), the entry ''thirty-five naye paise per kilogram" 15 shall be substituted; (j) in item no 26a, for the entries in the third column against sub-items (1) ami (2), the entries "three hundred rupees per metric tonne" and "five hundred rupees per metric tonne" shall, respectively, be substituted; 20 (k) in item no 26aa, sub-item (i) shall be renumbered as (ia) thereof and befort ~he sub-item (ia) as sq renumbered, the fol1owing sub-item shall be inserted, namely:-thirty rupee~ per metric tonne plu! ihe excise du~y for the time h::ing leviable on 25 "ci) semi-finished steel includin~ hbams, bill-:ts ~iabs ~h~c'f h:lrs, til} bus and hclc h irs 27 (l) when goods of the description mentioned in this section chargeable with a duty of excise under the first schedule to the central excises act, as amended by this act or any subsequent act of parliament or under that schedule read with any notification of 30 the central government for the time being in force, are assessed to duty, there shall be levied and collected-(a) as respects goods comprised in items nos 6, 8, 9, lid, 17(3), 22a, 23a except sub-item (1) thereof, 23b, 28, 2931 except sub-item (1) thereof and 32 of that schedule, a special duty of 35 excise equal to 10 per cent of the total amount so chargeable on such goods; (b) as respects goods comprised in items nos 2, 3(1), 'ubitems i, ii (2) and ii (3) of item no4, items nos 13, 14, 14f, 15, 15a, 15b, 16 16a, 17 except sub-ftem (3) thereof, 18a(2) , 21,40 22 23, 23a(1), 27, 30 • 31 (1), 33, sub-i~ems (1) and (4) of item no 34 and 37 of that schedule, a special duty of excile equal to 20 per cent of the total amount so chargeable ·on luch goods; and -  loot 1897-(c) as respects goods comprised in items nos, 4 11 (1), 18, 18a(l), 18b, 20, 29a, 33a, sub-items (2) arid (3) of item ~o 34 and radiograms comprised in item no 3?a of that schedule, a special duty of excise equal to 33 1/3 per cent of the total amount 5 so chargeable on such goods (2) sub-section (1) sl'jall cease to have effect after the 31st day of march, 1964 except as respects things done or omitted to be done before such ce~;ser; and section 6 of the general clauses act, 1897 shall apply upon such cesser as if the said sub-section had then been 10 repealed by a central act (3) the duties of excise referred to in sub-section (1) in respect of the goods specified therein shall be in addition to the duties of excise chargeable 'on such goods under the central excises act or , any other law f01' the time being in force and such special duties shall 15 be levied for purposes of the union and the proceeds thereof shall not be distributed among the states (4) the provisions of the central excises act and the rules made thereunder, including those relating to refunds and ~xemptio~ from duties, shall, as far as may be, apply in relation to the levy and 20 collection of the duty of excise leviable under this section in respect of any goods as they apply in relation to the levy and collection of the duties of excise on such goods under that act or those rules 28 (1) there shall be levied and collected, with effect from "such regulatory date as may be specified in this behalf by the central government ~~~rte~t 25 by notification in the official gazette, on all goods mentioned in the  first schedule to the central exci:;l:!s act as amended by this act or any subsequent act of parliament, a regulatory duty of excise which shall be ten per cent of the value of the goods as determined in accordance with the provisions qf section 4 of the central excises ~o act: oti  j~ -provided that different dates may be specified by the central government for different kinds of goods looual, (2) sub-section (1) shall cease to have effect after the 31st day of march, 1964, except as respects things done or omitted to be done s before such cesser; and section 6 of the general clauses act, 1897 3 shall apply upon such cesser as if the said sub-section had then been repealed by a central act (3) the duties of excise referred to in sub-section (1) in respect of the goods specified therein shall be in addition to the duties of - 40 excise chargeable on such goods under the' central excises act or any other law for the time being in force and such regulatory duties shall be levied for purposes of the union and the proceeds thereof  shall·not bl! distributed among the states  - (4) the provisions of the central excises act and the rules mad\:! thereunder including those relating to refunds and exemptions; f100m duties, shall, as far as may be, apply in relation to the levy and colle"etion of the regulatory duty of excise leviable under this section in respect of any goods as they apply in relation to the levy ad 5 collection of the duties of excise on such goods under that act or those rules (5) every notification issued under sub-section (1) shall, 8a soon as may be after it is issued, be placed before eaclf house of parnament: discontinuance of aaltduty 29 for the year beginning on the first day of april, 1963, nb duty 10 under the central excises act or the tariff act shall be levied in respect of salt manufactured in, or imp'orted' into', india 30 in the schedule to the' medicinal and totl~ pi'eparattons (exeise duties) act; 1955-amendment of act 180! 1806 (a) in item n'o 1, in the column relating to "rate of duty", 15 for the words "ten per cent ad valorem", the words "rupee one and ten naye paise per litre of the strength of london proof sp:rit or ten per cent ad valorem, whichever is higher" shall be su~stltuted; (b) in item no 2-(1) in the column relating to "description of dutiable goods", tite words "which are prepared by distillation or to which alcohol has been added; and" shall be omitted; (2) in the column relating to "rate of duty", the words "or ten per cent ad valorem, whichever is higher" shall be 25 inserted at the end; (c) in item no3, after sub-item (ii), the following item shall be inserted, namely:-"(iia) ayucvcdio; pr~p lra:ion; cuil-rupee, fic,ccll and fifty naye paise per litre (airing: akloh·,ll which are preof the strength of london prooftpiril" ; 30 pared by distillation or to which alcohol has been added and which arc cap'lblc or being eon-,umcd as mjinary akoholic he-\'~i':igcs 3s - cd) in item no6, in the column relating to "rate of duty", for the words "twenty-five per cent ad valotem", the words' "rupees three and: eigtltyftve naye paise per litre of th~ strength of london proof spirit or twaty-ftyepet cent advrdorem, wb'i,ch; ever ill higher" shall be substituted - 40 ii for the first schedule to the indian post oftlce act, 1898, 'the ~ follqwing schedule shall be substituted, namely:-::fat: 1_ "the first schedule haand postagb rate (see section 7) iiii" for a weijhtdotczcecdinsfifteenlrains - - 15 nayepal  for every ft£teen,rams or fraction thereof exccediq fifteen ,rams 10 najcpaim lluln:m'u 10 for aletter-c:ard | -      |   10  ||--------|-------|| naye   |       || pafae |       || siqle  |       || - 6    |       || na7e   |       || paise |       || reply  |       || -      |   13  || nayc   |       || paise |       |book pau,", allil sampl, ," rs for the first fift)' arama or fraction thereof | -                  | 10    ||--------------------|-------|| na7c               |       || paiae             |       || for                | every || additional         |       || twenty-five irams | or    || in                 |       || ckcli              |       || of                 |       || fift),             |       || ,rams              | ' -   || s                  | na1e  || paiae             |       |r,gistered nfiiiij,aperl par weight not exceedin, one hundred grams - - 2 naye paiae zo for a weiaht exceeding one hundred ,rams and not exceedin, two hundred ,rami  3 naye paiie for eycry two hundred ,rams or fraction thereof exccedin, two hundred arams - - 3 naye paia •• in the case of more than one copy of the same issue of a rc,istel'ed zs newspapcr beidl carried in the same packet-fora weiaht not exceeding onc hundred grams 3 nayc paise for every additional fifty grams or fraction thereof in excess of one hundred ,rams - 2 naye palee i provided that such p3aet shall not b: delivered at any addressee' 30 teaidencc but aha1i be,ivcn to a rccoiniseda,cnt at the post o~cc; parcds | fora            | woiaht not excccding four hundrec! gramll    | -              ||-----------------|----------------------------------------------|----------------|| -               |                                              |                || 60              |                                              |                || nayc            |                                              |                || piae          |                                              |                || for             | every four hundred                           | ,rams         || bundred irama  | 60                                           | nayc paisc'· |~, declaraticm under the provisional 9011ection ot' taxes act 1u1 it i hereby declared that it is expedient in the public intel'eit that the provisions of clauses 22, 23, 25, 26, 27 and 30 of this bill &hall ha~e iramediate tgeot udder the provisloual olilection "of tax  pdt i income-tax and iurcharge on income-ta:r:  paragraph a(i) in the case of every individual who is married and fjvfjr7 hindu undivided family whose total income does not exceed ra 20,000 in either case-ra ri ra (1) on the first 3,000 oftotal 3,300 of total income 3600 oftotal nil income income (2) on the nat 2,000  1100 " 1,400 u 3% (3) on the next 2s00  2,soo " 3s00 " 1t% (4) on the next 2,soo " 2,soo  2,soo  lq% 20 (s) on the nej:t 2,soo  2,soo " 2,soo " 121% (6) on the nej:t 2s00  2,soo  2,soo " is% (7) on the nezt 2,500  2,soo it 2, sao h aop/ (8) on the nat 2,500 " 2,soo  2soo " 3)% ____________________ ~--------------------------_____ 2s (ii) in the case of every individual who is not married and every individual or hindu undivided family whose total income in either case exceeds rs 20,000 and in the case of every unregistered firm or other association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in iub-clause (vii) of clause (31) of section 2 of the income-tax act, 30 not being a case to which any other paragraph of this part applies :-nil rs 1,000 ohotal income 4000  2s00  2500 " 2500  3500 to 3,,00 " •• ,tib i, (i) ort the first (2) on the next (3)on the next (4) on the next - (s) on the next (6) on the next - (7) on the next ) on the next "(p) on~ottglld'-101% 12"'! 1,-,( 20% 21% - provided that for the purposes of this paragraph-(0 no income-tax shall be payable on a total income which does dot exceed the limit specified ,belowj (ii) the income-tax payable shall in no case exceed half the amount by which the total income exceeds the said limitj , (iii) the income-tax payable by an individual who is married or a hindu undivided family whose total inco~e exceeds in either casers 20,000 shall not exceed the aggregate of-(a) the income-tax which would have been payable if the total income had been rs 20,000j 10 (b) half the amount by which the total income exceeds ri20,000; the lialit aforesaid ·shall'be-(0 rs 6,000 in the case of every hindu undivided family which as at the end of the previous year satisfies either of the following conditions, namely;-i, (a) that it has at least two members entitled to claim partition who are not less than eighteen years of age; or (b) that it has at least two members entitled to claim partition who are not lineally descended one from the other and who are not lineally des~ended from any other living , member of the family; (ii) rs 3,000 in every other case surcharge~ em income-t~ 2, the amount of income-tax computed at the rates hereinbefore i!lpec1fied shall be increased by the aggregate of the surchargee alc~at8ft-as ~der:~ (a) a surcharge for purposes of the union equal to the sum of-:-(i) two and a half per cent of the amount of income-tax ealculatedat the average rate of income-tax on the income' under the head "salaries"included in the total income; 3' (ii) five per cent of the amount of income-tax calculated at the average rate of income-tax on the total income 81 reduced by the income under the head "salaries" included theremj and <iii) where the earned income included in the total !alome exceeds ri 1,00,000, ian d8j' nant nf the di1!erece - between the amount of income-tax which would haw been payable on the whole of the earned income included in the total income if such earned income had been the total income and the amount of income-tax payable on a total income ot s rs 1,00,000;  (b) a special surcharge at fifteen per cent ot the difference between the amount of income-tax on the total income and the amount of income-tax on the whole of the earned income, if any, included in the total income if such earned income had been the 10 total income: provided that the surcharge for purposes of the union and the special surcharge, both together, shall not exceed halt the amount by which the total income as reduced by the amount of income-tax payable by the assessee exceeds the limit specifted is below:-the limit aforesaid shall be-(i) rs 6,000 in the case of every hindu undivided family which as at the end of the previous year satisfies either of the following conditions, namely :-20 (a) that it has at least two members entitled to claim partition who are not leis than eighteen years ot age; or (b) that it has at least two members entitled to clllim partition who are not lineally descended one from 2s the other and who are not lineally descended from any other living member of the family; (ii) rs 3,000 in every other case;  (c) an additional surcharge for purposes of the union calculated on the amount of the residual income at the following rates, namely: _ 30 c') on the first rs 6,000 of the residual income cia') on the next rs 9,000 of the residual income cii') on the next rs 12,000 of the residual income (;flron the next rs 15,000 of the residual income 4% 6% 8% 9% 10%: 3s , cfi) on the balance of the residual income provided that-(i) no additional surcharge shall be levied where the residual uacoul'e does dot exceed the limit lip8culad lnio'w; - (ii) the additional surcharge shall in no case exceed the aggregate of the following bums, namely:-(a) an amount calculated at three per cent on 80 much of the amount of residual income as does dot exceed the limit specifted below; (b) one-half of the amount by which the residual income exceeds the limit specified below the limit aforesaid shall be-10 (i) rs 6,000 in the case of every hindu undivided family which as at the end of the previous year satisfies either of the following conditions, namely:-(a) that it has at least two members entitled to claim partition who are not less than eighteen years of age; or is 20 (b) that it has at least two members entitled to claim partition who are not lineally, descended one from the other and who are not lineaiiy descended from any other living member of the family; (ii) rs 3,600 in the case of every individual who has more than one child wholly or mainly dependent on him or in the case of every hindu undivided family having more than one minor coparcener; (iii) rs 3,300 in the case of every individual who has one child wholly or mainly dependent on him or in the case of every hindu undivided family having one minor copar-25 cener; (iv) rs 3,000 in every other case explanation-for the purposes of this paragraph, in the case of every hindu undivided family· governed by the mitakshara law, a son shall be deemed to be entitled to claim partition of the copar-30 cenary property -against his father or grandfather notwithstandinl any custom to the contrary paragraph b in the case of every local authority,-rate of income-tax 35 on the whole of the total income 30% su'i'cha'l'ge on income-tax the amount of income-tax computed at the rate hereinbefore specified shall be increased by a surcharge for purposes of the union of five per cent o! the amount of inoome  ta·x, - paragmph c - in every case in which under the provision of the income-tax act, income-tax i5 to be charged at the maximum rate,-rate of income-tax on the whole of the total income  25% su'i'cha'l'ge, oft iftcome-tax the amount of income-tax computed at the rate hereinbefore specified shall be increased by the aggregate of the surcharges calculated as under:-(a) a surcharge for purposes of the union of five per cent of 10 the amount of income-tax; (b) a special surcharge of fifteen per cent of the amount of income-tax; and (c) an additional surcharge for purposes of the union calculated on the amount of the residual income at the rate u i, specified in paragraph a of this part paragraph d in the cue of fnery company,-rate of income-to« on the whole of the total income 25% pa'l'ag'l'aph e in the case of every registered firm,-| rate,                 | of            ||-----------------------|---------------|| income-tax            |               || where·,the firm where | the           || firm                  |               || has                   |               || four                  | or            || less                  |              || five                  |               || or                    |               || partners              | more partners || as                    |               || on                    | the           || last                  |               || day                   |               || of                    | the           || previoul              |               || year                  |               || 30                    |               |(i) on the first rs 2s,000 of total income (2) on the next rs is,ooo of total income (3) on the next rs  0,000 of total income (4) on the next rs 40,000 of total income· (s) on the next rs so,ooo of tot a! income' (6) on the balance of total income  | nil    ||--------|| s%     || 6%     || 7%     || 8%     || 10%    || 7%     || 8%     || 9%     || 10%    || 12%    |su'i'cm'i'ge on income-taz 3s the amount of income-tax computed at the rates hereinbefore specified shall be increased by a surcharge for purposes of the union - of wtenty per cent of the amount of inrnma-t  'if  part n super-taz lind surcharge on super-taxparagraph a in the case of every individual, hindu undivided famuy, 5 unregistered firm ar other association of persons or bodiy of individuals, whether incorporated or not, or every artificial juridicail penon referred to in sub-clause (vii) of clause (31) of section 2 of the income-tax act, not being a case to which any other paragraph of this part applies,-10 rat" of luper-tax is (i) on the first ri 20,000 ofiotal income (2) on the next ri 5,000 of total income (3) on the next ri 5,000 of total income (4) on the next rs 10,000 of total income (s) on the next rs 10,000 of total income (6) on the next rs 10,000 of total income (7) on the next rs 10,000 of total income (8) on the balance of total income  nil 8% 18% 22% 32% 40% 45% 47·5%  surcharges on super-tdxthe amount of super-tax computed at the rates hereinbefore ~ifled shall be increased by the ageregate of the  surcharges oalculated as under:-(ii) a surcharge for purposes of the union equal to the sum of--(i) two and a half per cent of the amount of super-ttut calculated at the average rate of super-tax on the income under the head "salaries" included in the total income; 50 (ii) five per cent of the amount of super-tax calculated at the average rate of super-tax on the total income as reduced by the income under the head "salaries" included therein; and (iii) where the earned income included in the total income exceeds rs 1,00,000, ten per cent of the difference between the amount of super-tax which would have been payable on the whole of the earned income included in the total income, if such earned income had been the total income and the amount of super-tax payable on a total income of rs 1,00,000; - (b)' a special surcharge at fifteen per cent of the c:w!erence 'liefwhfn th amount tit itiji1er-tax on th~ tataj id~ome and 'the amount of super-tax on the whole of the earned income, if any, included in the total income, if such earned income had been the total income paragraph b in the case of every local authority,-5 rate of super-tax on tha whole of the total income 16%  surcharge on super-taxthe amount of super-tax computed at the rate hereinbefore specified shall be increased by a ~urcharge for purposes of the union 10 of 121 per cent of the amount of super-tax paragraph c in the case of every association of persons being a co-operative lociety as defined in clause (19) of section 2 of the income-tax act,-nil 16% rates of super-tax (1) on the first rs 25,000 of total income (2) on the balance of total income surcharge on super-tax the amount of super-tax computed at the rates hereinbefore lilpecified shall be increased by a surcharge for purposes of the union 20 of 12i per cent of the amount of super-tax paragraph d in the case of every company, other ,than the life insurance corporation of india established wlder the liie insurance corporation act, 1956,-25 rates of super-tax on the whole of the total income provided that- 55%: (i) a rebate at the rate of 50 per cent on so much of the total income as consists of dividends from any indian company; and 30 at the rate of 35 per cent on the balance of the total itlcome shall be allowed in the case of any company" which-(a) in respect of ita profits liable to tax wlder the income-tax act for the assessment year commencing on the 1st day of april, 1963, has made the prescribed arrangements for the declaration and payment within i~dia of the divi- 3s dends payable out of such profits in a~ witbthe provisions of aectiod 194 of 'that act: and ' - (b) is such a company as is referred to in section los ')£ the income-tax act with a total income not exceeding rs 25,000; (ii) a rebate at the rate of 5) per cent on so much of thtf total income as consists' of dividends from a subsidiary indian company formed and registered before the 1st day of april, 1961; at the rate of 45 per cent on so much of the total income a consists of dividends from any other indian company; and at the rate of 30 per cent on the balance of the total incoinf' shall be 10 allowed in the case of any company which satisfies condjtion (ii) but not condition (b) of the preceding clause; (iii) a rebate at the rate of 50 per cent on so much of the total income as consists of dividends from a subsidiary indian company formed and registered before the 1st day of april, 1961; is at the rate of 30 per cent on so much of the total income al consists of dividends from an indian company, not being a sublidiary company, formed and registered before the 1st day of april, 1959; at the rate of 45 per cent on so much of the total income as consists of dividends from any other indian company 20 formed and registered on or after the 1st day of april, 1959; at the rate of 30 per cent on so much of the total income as consisu of royalties received from an indian concern in pursuance of an agreement made by it with the indian concern on or after the 1st day of april, 1961 and which has been approved by theas central government; and at the rate of 17 per cent on the balance of the total income shall be allowed in the case of lny company not entitled to a rebate under either of the prececdn, clauses: provided further that-30 (i) the amount of the rebate under clause (i~ or clause (i(~ of the preceding proviso shall be reduced by the swn,if any, equal to the amount or the aggregate of the amounts, 8s thee  may be, computed as hereunder:-35 2) 01 j962 (a) on the aggregate of the sums computed in the manner at the rate of 100% providej in c!a\l,e (i) orthe second provl~o to paragrrph o ofp,lrt ii of the first schedule to the finance (no2) act 1962 as rejuced by the amount, if any, which is dee:ned to have be,:n t2~en into account ill accord!lnl:e with ellu~e (ii) of the said proviro for the purpose of reducing the rebate mentioned in clause (i) of the laid proviso to nil j and 4$ (b) on ihe amount r("pre~enting ihe fact' valul' of apy bonus at the rite of fa, " shares or the amclunl ofa,ny bonus i~sued to its ~harehottlers durinlt !h~ previous yellf wuh a view to ,ncreasina the paij-up capital; - (ii) where the sum arrived at in accordance with clause (i) of this proviso exceeds the amount of the rebate arrived at in accordance with clause (i) or clause (ii), as the case may be, of the preceding proviso, only so much of the amounts of reduction mentioned in sub-clauses (a) and (b) of clause (i) of this proviso : s as is sufficient in that orcier, to reduce the rebate to nil shall be deemed to h~ve been taken into account for the purpose: ·provided further that the super-tax payable by a company, the total income of which exceeds rupees twenty-five thousand, shall not exceed the aggregate ofn (4) the super-tax which would have been payable by the company if its total income had been rupees twenty-five thousand; and-(b) half the amount by which its total income exceeds rupees twenty-five thousand is explanation i-for the purposes of this paragraph, where any portion of the profits and gains of a company is not incjuded ill its total income by reason of such portion being agricultural income, the amount representing the face value of any ~onus shares and the amount of any bonus issued to its shareholders shall each be deemed 20 to be such proportion thereof as the average of the total income of the coil)pany in the five previous years in which the company has been in receipt of taxable income immediately preceding the relevant previous year bears to the average of its total profits and gains (excluding capital receipts) for the preceding five years aforesaid, 25 reduced by such allowances as may be admissible under the incometax act which have not been taken into account by the company in its profit and loss accounts for the preceding five years aforesaid explanation ii-for the purposes of this paragraph and part iu· of the schedule, a company shall be deemed to be a subsidiary of 30 another company if that other company holds more than half in nominal value of the equity share capital of the  first mentioned company  paragraph e-in the case of the life insurance corporation of india established 3s under the life insurance corporation act, 1956,-31 of 1986  rate of super-tuon the whole of its profits and gains from life ldsurance business -  part ui rates for deduction of tax at source in certain caaein every case in which under the provisions of sub-section (2) of section 192 and sections 193 to 195 of the income-tax act, tax is to s be deducted at the rates in force, deduction shall be made from the income subject to deduction at the following rates :-j nc,line-tox super-tax rate of super-tax rate of aurchugea 10 rates of surcharges rilte uf j----------incometax surcharge special for surcharge purposes orehe union is i, in the case of a person other than a company-3'75% 20 (a) in every cast", on the 25% whole income (rxcluding interest payi&ble on any security of the central government issued or drclued to bl: incometax crt!e, and inle~st pa) -able on any security uf a state government issued income-tax free, the incomc'-rax whereon ia payable by the state governmcnt), and 30 (b) in addition, where the person is non-resident in india, on th~ whole income 35 super-tax and iulchar," qn upertax in accordance with the provision i oc c1allte (6) oc subsection (1) of section 1i3 oc the incometax act 40 ~ate or i rate oc incomesupertax i tax a, ·in the case oca company-(ia) in every case-4s (a) on the whole inc')me (excluding interest payable on any security of the central government i~sued or declared to be income-tax free anj interest payable on any security of ii state government issued incomt'-tax free, the income-tax whereon is paypble by the state govcrnmcnt);and  25% 50 (il) on the whole income (i"xcluding dividends plyable by lin indi~n comp:jny referred to in c1au~e (iii) of subsection (1) of s:::tion 99 ;)f the income-tax ac:t); and | rale                                             | of                         ||--------------------------------------------------|----------------------------|| rate                                             |                            || or                                               |                            || iuconle-                                         | super·                     || ta~                                              |                            || tu                                               |                            || (6)                                              |                            || in                                               | ajjitlan                   || ~re                                              |                            || th'!                                             | c:>'11plny                 || neirh~r                                          |                            || an indian com-                                   |                            || plny                                             | n lr a c l'11pmy which hls || s                                                |                            || arrlng:ments for                                | the                        || dends                                            |                            || wilhin                                           | india,-                    || ()                                              | on                         || plylble                                          | by                         || 10                                               |                            || (ill)                                            |                            || of                                               | gub-section                || (1)                                              |                            || of                                               | section                    || 99                                               |                            || of                                               | the income-                || uxact)-                                          |                            || (i)                                              |                            || on divuenjq p'lyable                             | by                         || computies f,)rmed                                |                            || and                                              | registered before the ist  || day                                              |                            || of                                               | april,                     || 1961                                             |                            || nil                                              |                            || 20%                                              |                            || (2)                                              |                            || ~n                                               |                            || 1ivij:nh                                         | plylble                    || being a subddisry company, formed and registered |                            || before                                           |                            || the                                              |                            || lit                                              |                            || dayuf                                            | april                     || 1959                                             |                            || (3) on div:d                                     |                            || ~nds                                             |                            || plylble                                          | by                         || fjrmej                                           | and registered             || od                                               |                            || or                                               | after the                  || 1st                                              |                            || day                                              | of                         || 1959                                            |                            || (i)                                             | on                         || th~                                              |                            || inc')me from royalties ply'lble by an indian     |                            || c:mcern in punu'lnce                             |                            || of                                               | an agreement which         || by                                               | it wi'h the                || cd                                               |                            || or                                               | arter the                  || bt                                               |                            || day                                              | of                         || april,                                           |                            || 1961                                             |                            || and which has been approved by the central       |                            || government                                      |                           || 20%                                              |                            || 25                                               |                            || (in)                                             | on                         || 33%                                              |                            | the second schedule [see section 22(2)] in the first schedule to the tariff act,-(i) in item no 24, for the entry in the fourth column, the 30 entry mrs 60·00 per kilogram" shall be substituted; (ii) in item no 24 (3), for the entry in the fourth column and the entry in the sixth column, the entry "rs 50·00 per kilogram" shall be substituted; (iii) in item no 28a, for the entry in the second column, 35 the following entry shall be substituted, namely:-upatent or proprietary medicines not containing alcohol, opium, indian hemp or other narcotic drugs or other narcotics other than those medicines which are exclusively ayurvedic, unant, sidha or homoeopathic 40 explamtion-'patent or proprietary medicines' means any drug or medicinal preparation, in whatever form, for use in the internal or external treatment of, or for the preventiojll of ailments in, human beings or adimals, which bears either on itself or on its container or both, a name' 4s which is not specified in a monograph in a pharmacopoeia, formulary or other publications notified in this behalf by the central government in the official gazette, or which is a brand name, that is, a name or a registered trade mark s under the trade and merchandise marks act, 1958 (43 of 1958), or any other mark such as a symbol, monogram, label, signature or invented words or any writing which is used in relation to that medicine for the purpose of indicating or so as to indicate a connection in the course of trade between the 10 medicine and some person having the right either as proprietor or otherwise to use the name or mark with or without any indication of the identity of that person"; (iv) in item no 29, for the entry in the fourth column, ~he entry urs 12·00 per 100 linear metres" shall be substituted; 15 (v) in jtems nos 30, 73, 73 (1), 77 and 77 (5), for the entries against each of them in the fourth and fifth columns, the entries "60 per cent ad valorem" and "50 per cent ad valorem" shall, respectively, be substituted; (vi) in item no 30(1), for the entries in the fourth column 20 against suj:-;tems (a), (b) (i) and (b) (ii) , the entry "50 per cent ad valorem" shall be substituted; (vii) in item no 39, for the entry in the fourth column, the entry 1120 per cent ad valorem" shall be substituted; (viii) i\} items nos 63 (1), 63 (20a) and 63 (35), for the entry 2$ against eac'" of them in the fourth column, the entry "30 per cent ad valorem" shall be substituted; (ix) in item no 63 (2) ,-(1) for the entry in the fourth column against sub-item (a) (i), the following entry shall be substituted, namely:-30 "rs 22·00 per tonne or 10 per cent ad valorem, whichever is higher, plus 5 per cent ad valorem"; (2) for the entry in the fourth column against sub-item (a) (ii), the following entry shall be substituted, namely:- - "rs 64·00 per tonne plus 5 per cent ad valorem"; 3s (3) for the entry in the fourth column against subjtem (b" the foll ~"' '" entry shall be substituted, namely:-- "rs 60·00 per tonne plus 6 per cent ad valorem"; (x) in item no 63 (3) ,-- (1) for the entry in the fourth column against sub-item (i), the following entry shall be substituted, namely:- "rs 31·00 per tonne or 10 per cent ad valorem, whichever is higher, "lus 5 per cent ad valorem"; 5 (2) for the entry in the fourth column against sub-item (ii), the following entry shall be substituted, namely:-"rs 60·00 per tonne or 20 per cent ad valorem, whichever is higher, plus 5 per cent ad valorem"; (ri) in item no 63 (9), for the entry in the fourth column, 10 the following entry shall be substituted, namely:-  "rs 60·00 per tonne plus 10 per cent ad valorem"; (rii) in item no 63 (10),-(1) for the e,try in the fourth column against subitem (i), the entry "rs 8\)·00 per tonne plus 5 per cent ad is valorem" shall be substituted; (2) for the entry in the fourth column against subitem (ii), the entry "rs 100·00 per tonne plus 5 per cent ad valorem" shall be substituted; (xiii) in item no 63(12), in the entry in the second column, for the words "iron or steel bolts and nuts", the words "iron or steel bolts and nuts, not otherwise specified," shall be substituted; (xiv) in item no 63(14a), for the figures "50" and "40" in the fourth and fifth columns, the figures "55" and "45" shall, respectively, be substituted; 2s (:rv) in item no 63(17), for the words and figure "plus 5 per cent ad valorem" in the entry against each of the sub-items (i) and (ii) in the fourth column, the words and figures "plus 10 per cent ad valorem" shall be substituted; (xvi) in item no 63(18), for the figures "20" and "40" in the 30 fourth column against sub-items (a) and (b), the figures "25" and "45" shall, respectively, be substituted; (xvii) in item no 63(19),-(1) for the entry in the fourth column against sub-item (a)( i), the following entry shall be substituted, namely: -3s "rs 15·00 per tonr? or 10 per cent ad valorem, whichever is highe'l", plus 5 per cent ad valonm"; - (~) for the entry in the fourth co1umn against sub-item (a)(ii), the following entry shall be substituted, namely:-"rs 40·00 per tonne plus 5 per cent ad valorem"; (3) for the entry in the fourth column against sub-item 5 (b), the following entry shall be substituted, namely:-"rs 60·00 per tonne plus 5 per cent ad valorem"; (xviii) in item no 63 (20) ,-(1) for the entry in the fourth column against sub-item (a)(l)(i), the following entry shall be substituted, namely:-10 "rs 29·00 per tonne or 10 per cent ad valorem whichever is higher, plus 5 per cent ad valorem"; (2) for the entry in the fourth column against sub-item (a)(l)(ii), the following entry shall be substituted, namely:-"rs 50·00 per tonne plus 5 per cent ad valorem"; is (3) for the entry in the fourth column against sub-item (a)(2)(i), the following entry shall be substituted, namely:-"rs 30·00 per tonne or 10 per cent ad valorem whichever is higher, plus 5 per cent ad valorem"; (4) for the entry in the fourth column against sub-item ~o (a)(2)(ii), the following entry shall be substituted, namely:-"rs 60·00 per tonne plus 5 per cent ad valorem";   (5) for the entry in the fourth column against sub-item (b)'(l)(i), the following entry shall be substituted, namely:-"rs 32·00 ' per tonne or 10 per cent ad valorem, whichever is higher, plus 5 per cent ad valorem"; as (6) for the entry in the fourth column against sub-item (b)(l)(ii), the following entry shall be substituted, namely:-"rs 55·00 per tonne plus 5 per cent ad valorem"; (7) for the entry in the fourth column against sub-item 30 (b)(2)(i), the following entry shall be substituted, namely:-"rs 32·00 per tonne or 10 per cent ad valorem, - whichever is higher, plus 5 per cent ad valorem"; (8) for the entry in the fourth column against sub-item (b)(2)(ii), the following entry shall be substituted, namely:-"rs 64·00 per tonne plus 5 per cent ad valorem", - (=) in item no 63(21)a,-(1) for the entry in tile fourth column against sub-item (a)(i), the following entry ,,,,all be substituted, namely:-"rs 10·00 per tonne dr 15 per cpnt ad valorem wllichever is higher"; s (2) for the entry in the fourth column against sub-item (a)(ii), the following entry shall be substituted, namely:-<irs 10·00 per tonne or 25 per cent ad valorem whichever is higher"; (3) for the entry in the fourth column against sub-item 10 (b)(i), the following entry shall be substituted, namely:-"rs 31·00 per tonne or 10 per cent ad valorem whichever is higher"; (4) for the entry in the fourth column against sub-item (b)(ii), the following entry snail be substituted, namely:-is "rs 60·00 per tonne plus 5 per cent ad valorem'~; (xx) in item no 63(24), for the figures "55" and "45" in the fourth and !ifth columns, the figures "60" and "50" shall, respectively, be substituted; (xxi) in item no 63(25),-20 (1) for the entry in the fourth column against sud-nem (i), the following entry shall be substituted, namely:- - "30 per cent ad valorem"'; (2) for the entry in the fourth column against sub-item (ii), the following entry shall be substituted, namely:-2s "30 per cent ad valorem plus rs 35·00 per tonne"; (xxii) in item no 63(28), for the figures "55" in the fourth column, the figures "60" shall be substituted; - (xxiii) in item no, 63(31),-(1) for the entry in the fourth column against sub-item (a), the following entry shall be substituted, namely:-30 "rs 29·00 per tonne or 10 per cent ad valorem, whichever is higher, plus 5 per cent ~d valorem"; (2) for the entry in the fourth column against sub-item (b),the following entry shall be substituted, namely:-- "rs 50·00 per tonne plus 5 per cent ad valorem"; 35 - (uiv)" in item no 63(32),-(1) for the entry in the fourth column against sub-item (a), the following entry shall be substituted, namely:-"rs 50·00 per tonne plus 5 per cent ad valorem"; (z) for the entry in the fourth column against sub-item (b), the following entry shall be substituted, namely:-urs 84·00 per tonne plus 5 per cent ad valorem"; (:av) in item no 71,-10 (1) for the entry in the fourth column against sub-item (a), the fol'owing entry shall be substituted, namely:-"60 per cent ad valorem"; (2) for the entry in the fourth column agamst wbitem (b) , the following entry shall be  substituted, namely:-is "100 per cent ad valorem"; (xxvi) in items nos 72, 72(1), 72(2) and 72(3), for the entry against each of them in the fourth column, the entry "20 per cent cul valorem" shall be substituted; (xxvii) in item no 75, for the figures "35" in the fourth column, the figures u50" shall be substituted; (xxviii) in items nos 75 (11) and 75 (12), for the figure u25" against each of them in the fourth column, the figures "si"  shall be substituted; and (x=) in item no 87, for the figures u50" in the fourth 25 column, the figures "60" shall be substituted  -  a781 (b) ts statement of objects and reasonsthe object of this bill is to give effect to the financial proposals of the central government for the financial year 1963-64 and to provide for certain connected matters the notes on clauses explain the various provisions contained in the bill new delhi; morarji desai the 28th february, 1963 - clause 2 prescribes the rates of income-tax and super-tax for dssessments for the assessment year 1963-64 and for deduction of tax at source from salaries, interest on securities, dividends etc during the said financial year in the case of individuals, hindu undivided families, unregistered firms etc, the slab structure and the basic rates of income-tax and super-tax remain the same as for the assessment year 1962-63 in regard to surcharges on income-tax it is proposed to levy an additional surcharge for purposes of the union calculated on the residual income of the assessee, viz, the total income as reduced by capital gains, if any, and the income-tax and super-tax chargeable on the reduced total income in arriving at the residual income, the tax to be deducted therefrom will be calculated without reducing it by any relief, rebate or deduction of tax to which the assessee might be entitled the rates fixed for the additional surcharge rise progressively from four per cent to ten per cent on successive slabs of residual income the rates of the other existing surcharges of income-tax and super-tax, viz, the surcharge for purposes of the union and the special surcharge remain the same as before, but in regard to these surcharges on income-tax, the existing exemption limits of rs 15,000 for certain hindu undivided families and of rs 7,500 for individuals, unregistered firms, etc have been removed in the case of registered firms the slab structure and rates of income-tax remain the same as before, but it is proposed to levy a surcharge for purposes of the union at twenty per cent of the income-tax payuble by them in the case vf companies, the rates of income-tax and the effective rates of su}ler-tax remain the same as for the year 1962-63 the existing rebate of one-tenth of the income-tax and super-tax attributable to income derived from exports out of india, admissible to all assessees other than foreign companies which have not made the prescribed arrangement' for the declaration and payment of dividends within india, is being continued in addition to this, a provision has been made for allowing a further rebatq of tax to a manufacturer who, after the 28th february, 1963, himself exports, or where the first purchaser from him exports any articles produced by him in any of the industries listed in the first schedule to the industries (develofment and regulation) act, 1951 except for certain - specified industries like textiles, sugar, cement, etc and any other industry which might be excluded hereafter the additional rebate of tax will be calculated on an amount equal to 2 per cent of the sale proceeds received by manufacturers these tax rebates will, cumulatively, be subject to the limit of the income-tax and: 8ilper-tu otherwa payable by the assessee clause 3' provides that the additional surcharge for purpoaes of the l:jnion shall not be taken into account in calculating the amount of any relief, rebate or deduction of income-tax admissible to the assessee under any provision of the law clatmje 4 substitutes the existing deftnitiod of the, term "to: reczo¥ery officer" by a revised definition the reviled deftditiod' bridp under the category of 'tax recovery of6cer', bdy oiieer' of the state government empowered to recover arrears of land revenue or other public demand who has been authoriaed by' the state govermnent by a general or special notification in the oftlcial gazette to uiitl"ciae the powers of a tax recovery officer cluun 5 amends clause (b) of section 13 of the income-tax 'aet the" amendment is of a clarificatory nature clause 6 introduces a new sub-clause (iii) in clause (c) of section 4lo of the income-tax act the effect of this will be that with eftect from the assessment year 1963-64, any expenditure incurred b~ a c:omp~ for any period after the 28th february, 1~63, on paymat of remuneration including the value of perquisities to the extent it is in excess of rs 5,000 per month for each employee, shall be disallowed in computing the company's total income any payment of gratuity, etc will, however, not be taken into account in computing the aforesaid expenditure clause 7, amends clause (b) of section 58 of the income-tax act this amendment is consequential to the amendment in clause 6 clause 8 amends sub-clause (iii) (b) of the proviso to sub-hcuon (1) of, section 139 of the income-tax act and introduces two new sub-sections (la) and (8) in the said section the effect of these amendments is to provide that the interelt payable od a~o,udt of delay in submission of returns will be ealou)ated od the amount of the tax payable on the total income 88,,811811' bj: - the income-tax officer but if the income assessed is subsequently reduced as a result of any order of rectification or an order on appeal, reference or revision; the amount of the interest shall be co  quentially reduced and the excess interest paid if any, shall be tefudd  pd further, the income-tax officer will be enabled to rectuce or waive - the idtereat charged, for delay in submlaion· of relurns in sueh' circumataace8 as may be prescribed~ clause' introduces a new section 141a in the income-tax act the effect of this is to provide that (i) where an assessee pays the tax demanded from him on a regular or provisional assessment, or where db such assessment has been made but he pays the tax due from him on the basis of the total income declared in the return flled by him, before the 1st day of january of the relevant 1iaies medt year, a sum equal to one per cent of the tax so paici ihall be credited to him; and (ii) if the as6essee does not file his return, of total income by the 31st december of the relevant assessment· year, or having filed the return does not pay the tax due on the basis of such retarn by that date, he shall be liable to pay interest on the amount of the tax payable by him at two per cent per annum caleu1ateci from· the 1st day of january of the relevant assessment yeb to the date on which a provisional assessment or a regular _____ em i made on him, whichever is earlier c14use 10 amends section 146 of the income-tax act the amendment is of a drafting nature ~: lji ldtrodaces' a new'sub-clause (d) in section 209- of the, ineome-tax act this amendment is consequential to the amendmeat made· by claull! 12 ~ 12 su~tttutes sub·section (3) of section 210 of the income-_ act by a revised· sub-section this introduces a new provision ohng the· inc('jfte-tax officer to revise an earlier order for payment of adlvanoe- tak baled on the last completed regular assessment of the illleilm on the basis of the total income detennined in a provisional  anent of the assessee for a later year the proviso to the' eaaiitiilg- u})secrtion (3) has been omitted clause 13 substitutes sub-section (2) of section 215 of the incometax act by a revised sub-section the amendment made is consequential to the amendment made by clause 9 clause 14 adds a proviso to sub-section (2) of section 220 of the' inoome-tax act this provides that where the tax payable by an aasessee has been reduced as a result of any order of rectifteation of the assessment or an order on appeal, reference or revision, the interest payable by the asse:ssee for failure to pay the tax in due - time shall be consequentially reduced and the excess amount paid, if any, shall be refunded crouse lsi amends sub-section (2) of section 223 of the incometu net: 1\te effeet of this will' be that a tax recovery ofd'cer to whom the income-tax officer has sent a certificate for the recovery of arrear tax dues from a defaulter will be enabled to forward the certificate to any other tax recovery officer in the same or any other district if the de!:lulter's property is situated within the jurisdiction of the latter clawe 16 amends section 233 of the income-tax act this is an amendment of a drafting nature clause 17 amends clause (a) of sub-section (1) of section 271· of the income-tax act this is an amendment of a drafting nature czoose 18 amends sub-section (1) of section 291 of the income-tax act this is an amendment of a drafting nature clause 19 amends clause (e) of sub-section (2) of section 297 of the income-tax act this is a c1arificatory amendment clause 20-sub-c1ause (1) of this clause introduces a new rule 19a in the second schedule to the income-tax act this enables a tax recovery officer, being a collector or an additional collector, subject to the approval of the state government, to entrust any of his functions as tax recovery officer to any officer lower to him in rank who is empowered to effect recovery of land revenue or other public demand under the law for the time being in force in the state the officer to whom any such functions have been entrusted shall be deemed to be a tax recovery officer in relation to those functions sub-clause (2) substitutes sub-rule (1) of rule 86 of the second schedule by a revised sub-rule the new provision in it is that an appeal against an order passed by an official of the state government who has been entrusted with any functions of a tax recovery ofiicer under the new rule 19a of the second schedule aforesaid will lie to the revenue authority to which an appeal or an application for revision against his orders would lie under the law of the state government concerned relating to land revenue or recovery of public demand clause 21~sub-clause (1) (a) omfts clause (xv) of sub-section (1) of section 5 of the wealth-tax act as a result of this the existing exemption from wealth-tax on the value of jewellery to the extent of rs 25,000 will cease to be operative with effect from the assessment year 1963-64 sub-clause (1) (b) amends clause (xvi) of sub-section (1) of - section 5 of the wealth-tax act, to include amongst the government securities in respect of which assessees are exempted from wealthtax, ten year defence deposit certificates and twelve year national defence certificates which have been issued in novem1aer, 1962 in replacement of the twelve year national plan savings certificates  - sub-clause (2) adds a proviso to sub-section (3) of section 5 of the wealth-tax act this provides that for the purposes of an assessment to wealth-tax for the assessment year 1963-64 an assessee will be entitled to exemption on the value of ten year defence deposit certificates and twelve year national defence certiftcates even though such certificates might have been held by him for a period of less than six months prior to the relevant valuation date sub-clause (1) of clause 22 seeks to amend section 2a of the indian tariff act to effect a revision of the basis for the levy of countervailing duty, where the excise duty is ad valorem, so as'to include in the value for calculation of countervailing duty all import duties chargeable on the imported article except the countervailing duty itself  sub-clause (2) of clause 22, read with the second schedule, seeks to increase the basic import duties on certain items the changes are:-(i) the duty on tobacco, manufactured and unmanufactured, is proposed to be increased by approximately 50% of the existing levels; (ii) the duty on cinematograph films, not exposed, is proposed to be raised from rs 6·60 per 100 linear metres to rs 12·00 per 100 linear metres; (iii) the duty on paints, colours and painters' materials, all sorts, not otherwise specified, is proposed to be raised from 50% (standard) and 40% (prt:!ferential) to 60% (standard) and 50% (preferential) ; (iv) the duty on certain coal-tar dyes is proposed to be raised from 20% to 50%; (v) the duty on raw rubber is proposed to be raised from 10% to 20%; (vi) the duty on certain iron and steel items is proposed to be raised by 5% the main items affected by the increase are plates· and sheets, tinplates, rails, wire, rods and bars, structures and structurals and manufactures not otherwise specified; (vii) the duty on tools other than machine tools and agri-_ cultural implements is proposed to be raised from 50% to 60% and on hardware from 75% to 100%; (viii) the duty on certain items of machinery and their component parts is proposed to be raised from 1b% to 20%; (i,x) the duty on electrical as well as certain non-electrical instruments, apparatus and appliances is proposed to be raised from 50~ (standard) and 40% (preferential) to 60% (standard) and 5(1% (preferential); - (a:) the duty on conveyances, not otherwise speculed, ii ,propaaed to be raised from 35% to 50%; (rl) the duty on certain motor vehicle parts ia proposed to be raised from 28% to 50%;  (rli) tlle duty on the residuary tarift item "all other articles not otberwise specified" is proposed to be raised from ~ to 60%; and (rlii) the descriptions in item no 28a relating to patent er proprietary medicines and item no 63(12) relating to iron or steel bolts and nuts are proposed to be altered as a meuure of rationalisation clause z3 seeks to provide for the levy upto the aut day"'gf march, 1964, of an additional duty of 10% of the basic duty charge-able for the tlmebetug on all items in the lmportschedule clause 24 proposes to levy upto the 31st day of march, 19m,·a regulatory duty of customs, at the rate of 25% of the rate specl1led in the import sebedule (read with any modlftcatiodi made by douftcation in the ease of protective duties) or 10" of the value of the goods, whichever is higher the intention is to regulate the quantity of soods imported the date from which iilch levy in respect of any goods will be effective will be notified by the central government l"iauie 25 iihka to maintain for another year the itcltub quo in regard to commitments under the general agreement on tarifts and trade clause 26-sub-c14use (4) (1) se~ to increase the rate of duty gil tobacco other than ftue-cured and not actually used tor the mmufaeture of cigarettes or smoking mixtures for pipes ad  ' cigaret~ or biris sub-clause (4) (2) seeks to increase the rates of duty on dgarettes   sub-c:cuse (b) seeks to increase the rate of duty em motor spirit sub-clause (c)seeks to raise the rate of duty on keroane sub-c14u1e (d) propolh an ldcreaae in the rates of duty on refined di~l oila and vaporizing oil sub~e (e) seeks to increase the rate of duty on diesel oil, not otherwise specified slib-clat&ie (f) seeks to increase the rate of· duty od vege-&able product in replacement of ·the duty od -:-we non- ntial on used in its manufacture sub-clauses (g) (1) and (g) (2) propose to introduce a single rate of duty for all ready-mixed paints, whether sold by weight or by volume sub-clause (g) (3) seeks to increase the rates of duty on certain varieties of pigments, colours, paints, varnishes, blacks and cellulose lacquers which nonnally require vegetable nonessential oils in their manufacture sub-clause (h) seeks to raise the rates of duty on soap in replacement of the duty on vegetable non-essential oils sub-clause (i) seeks to increase the rate of duty on strawboard sub-clause (;) seeks to raise the rates of duty on copper and copper alloys sub-clause (k) seeks to introduce for purpose of simplification a new sub-item for semi-finished steel under item no 26aa relating to iron or steel products - clause 27 seeks to levy a special duty of excise upto the 31st day of march, 1964, on certain goods chargeable with a duty of excise under the central excises and salt act, 1944 clause 28 proposes to levy upto the 31st day of march, 1964, a regulatory duty of excise, at the rate of 10% of the value of the goods the intention is to regulate the demand for such goods in the country the date from which such levy in respect of any goods will be effective will be notified by the central government clause 29 like section 4 of the finance act, 1962, provides that salt shall be duty free for another year clause 30 seeks to amend the schedule to the medicinal and toilet preparations (excise duties) act with a view to increasing the rates of duty on certain ayurvedic preparations containing alleohol which are capable of being consumed as ordinary alcoholic beverages the clause also seeks to make marginal adjustments on certain other items of the schedule - clause 31 substitutes the existing schedule by a new schedule the new schedule seeks to increase the rate of postage-(i) on postcards, single and reply, from 5 and 10 naye paise to 6 and 12 naye paise respectively; -(ii) on book, pattern and sample packets, under the various categories from 8 and 3 naye paise to 10 and 5 naye paise respectively, and (iii) on parcels, under the various categories from 50 naye - paise in each to 60 naye paise (·,i 2781(b) 1$-8 ,-the bill seeks to levy an additional surcharge of income-tax for purposes of the union on individuals, hindu undivided families, unregistered firms, etc and provides for the grant of marginal relief to assessees at certain lower levels of residual income it also seeks to introduce a new provision in the income-tax act for giving credit to assessees for a certain percentage of the ta}c paid by them if the payment is made within the prescribed period and for charging certain interest if they do not pay the tax due on the basis of their returns of jncome within the aforesaid period the bill also seeks to withdraw the exemption hitherto allowed to wealth-tax assessees on the value of jewellery to the extent of rs 25,000, which is likely to result in an increase' in the number of wealth-tax assessees the aforesaid measures will involve extra work and necessitate employment of some additional staff the expenditure oil account of additional staff together with incidental expedles on administration is estimated at about rs 4 lakhs  rbqudemert of pdso!fni:l aifd fnrancllno ada  l emoluments cost ri  iojfiur,-i 3 i2 coljlldiasioner of income-to assistant commissioden incame-taii: ofllc:en (c! i) ix" 3xrs izxrs aol4oo 14400 5,400  ii sm6-4xa 8xri li,sao 34,,60 ai,ooo 4 8 7 4 50 idlpec:tora superviaol'i headc1erb stedoiraphers uppordivieioq ckrb stenotypists - lower division cleib 170 18 7fj( ri 4xrs 50xri iaxra 18xrl 7~00 90000 ~ 7,7,000 a,blo 4,po 3,000 i,boo 1,800 1,610 1,500  iii incitlm,tji"",,,- iacidcntal expeuea iiiclucsiq a iv staff, •   - | total                                  | ,             ||----------------------------------------|---------------||                                      |               || or,                                    | -,           || 390,000                               |               || ------~------------------------------~ | ~----------- | memorandum regarding delegated legislationclause 2(5) (vi) provides for rules being made with respect to computation of amount of profits and gains derived from the export of any goods or merchandise out of india in respect of which deduction of income-tax and super-tax is admissible under clause 2(5) (0 the rule making power is of a normal character  a billto give effect to the financial proposals of the central government for the financial year 1963-64 the president has, in pursuance of clauses (1) and (3) of article 117 and clause (1) of article 274 of the constitution of india, recommended to the lok sabha, the introduction and consideration of the bill m n kaul, sectetary (8hri morarji desai, minister oj finance) 