form 29C

Form of audit report for the purposes of section 115JC notified
Notification No. 60/2011 [F. No. 133/70/2011-SO(TPL)], dt. 1-12-2011
In exercise of the powers conferred by section 295 of the Income-tax Act,
1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the
following rules further to amend the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income-tax (9th Amendment) Rules,
2011.
(2) They shall come into force on the 1st day of April, 2012.
2. In the Income-tax Rules, 1962, (hereafter referred to as the "said
rules"), after rule 40B, the following rule shall be inserted, namely:-
"Special provisions for payment of tax by certain limited liability
partnerships
40BA. The report of an accountant which is required to be furnished
by the assessee under sub-section (3) of section 115JC, shall be in
Form No.29C."
3. In Appendix-II of the said rules, after Form No.29B, the following form
shall be inserted, namely:-
"FORM NO. 29C
[See rule 40BA]
Report under section 115JC of the Income-tax Act, 1961 for computing
adjusted total income and minimum alternate tax of the limited liability
partnership
1. I/We* have examined the accounts and records of
………………………………. ..............………………………………………………
(name and address of the assessee with PAN) engaged in business
of…………………………………………………………………………….…. (nature
of business) in order to arrive at the adjusted total income and the minimum
alternate tax for the year ended on the 31st March,……………………………
2. (a) I/We* certify that the adjusted total income and the minimum
alternate tax has been computed in accordance with the provisions of Chapter
XII-BA of the Income-tax Act. The tax payable under section 115JC of the
Income-tax Act in respect of the assessment
year………………………………………..is
Rs………………………………………………………………………………………
……….., which has been determined on the basis of the details in Annexure A
to this Form.
3. In my/our * opinion and to the best of my/our* knowledge and
according to the explanations given to me/us* the particulars given in the
Annexure A are true and correct.Date………………………
Signed
†Accountant
Notes:
1. *Delete whichever is not applicable.
2. †This report is to be given by-
(i) a Chartered Accountant within the meaning of the Chartered
Accountants Act, 1949 (38 of 1949); or
(ii) any person, who in relation to any State, is by virtue of the
provisions in sub-section (2) of section 226 of the Companies
Act, 1956 (1 of 1956), entitled to be appointed to act as an
auditor of companies registered in that State.
3. Where any of the matters stated in this report is answered in the
negative or with a qualification, the report shall state the reasons
therefor.
ANNEXURE A
[See paragraph 2]
Details relating to the computation of Adjusted Total Income and
Minimum Alternate Tax for the purposes of section 115JC of the Income-tax
Act, 1961
1. Name of the assessee
2. Address of assessee
3. Permanent Account Number
4. Assessment year
5. Total income of the assessee computed in the
manner laid down in the Income-tax Act before
giving effect to Chapter XII-BA of the Incometax Act
6. Income-tax payable on total income referred to
in Column 5 above
7. The amount of deduction claimed under any
section included in Chapter VI-A under the
heading "C." - "Deductions in respect of certain
incomes"
Sl.
No.
Section under
which deduction
claimed
Amount of
deduction
claimed
8. The amount of deduction claimed under
section 10AA9. Adjusted total income of the assessee (5+7 +
8)
10
.
Minimum alternate tax (18.5% of adjusted total
income computed in column 9 above)