60 Application by company or other body corporate for approval by the Board for exemption of investments by an assessee not being a company

1[60 Application by company or other body corporate for approval by the Board for exemption of investments by an assessee not being a company.---      

(1)  A company or a body corporate desiring to be declared as a company engaged in or formed   for the purpose of carrying on an approved industrial undertaking in Bangladesh within the meaning of paragraph 8 of Part B of the Sixth Schedule to the Ordinance shall make an application to the Board duly filled in the form given

Form of Application for Approval under paragraph 8 of Part B of the Sixth Schedule to the Income Tax Ordinance, 1984 (XXXVI of 1984)

(1)  Name of the Company :
(2)   Location of its registered office:
(3)  The location of the industrial: undertaking and if the undertaking has not yet been set up, the place where it is intended to be set up
(4)  Date of incorporation :
(5)  Date of commencement of : business, if any
(6)  Where it is a public company as : defined by the Companies Act, 1913 (VII of 1913) and listed in a Stock Exchange
(7)  Whether it, is a subsidiary : company of a company falling within the description of item (6) above, and if so-

(i) whether the whole of its share capital is held by the parent company:
(ii) whether the whole of the share capital is held by the nominees of the parent company
(iii)the name(s) and address(es) of the parent company or the nominees thereof, as the case may be:

(8) Whether the approval of the: Government has been obtained to the capital issue; if so. the amount permitted to be issued:
(9) Authorised share capital of the: company and classes of shares and their value:
(10) The amount of share capital: issued or proposed to be issued and the classes of shares and their value:
(11) If the business has already: commenced, the number of employees engaged in the undertaking:
(12) If the business has not: commenced, the minimum number of employees expected to be engaged:
(13) Whether the undertaking: involves or will involve the use of-

(i) electrical energy:
(ii) any other form of energy which is mechanically transmitted and is not generated by human or animal agency:

(14) Whether it is-

(i) an undertaking engaged in the manufacture of goods or materials or the subjection of goods or materials to any such process (the exact nature of the undertaking should be stated):
(ii) an undertaking engaged in ship building and navigation:
(iii) electricity undertaking (that is, an undertaking for the transformation, generation, conversion, transmission or distribution of electrical energy):
(iv) hydraulic power undertaking (that is, an undertaking for the supply of hydraulic power):
(v) ail undertaking engaged in the working of a-

(a) mine:
(b) oil-well:
(c) any other source of mineral deposits (to be specified) (vi) any other class of undertaking and if so-
(a) whether it has been declared to be an undertaking to which section 45 or 46 of the Ordinance is applicable:
(b) if such declaration has not been made, whether an application for that purpose has been made and date of such application:
Date…………….                                             Signature of the
Managing Director/Director


I,……………………………………, do hereby solemnly affirm that the information given above is correct and complete. Signature of the
Date…………………                                                             Managing Director/Director

*Delete whichever is inapplicable

(2)  The application shall be accompanied by the following documents, namely-

(a)  Certificate of incorporation, with an attested copy thereof;
(b) Certificate of the commencement of business, if any, with an attested copy thereof;
(c)  An attested copy of the Memorandum and Articles of Association;
(d) An attested copy of the letter from the Government authorising the issues of the capital;
(e) In the case of the company that has already commenced business certified copies of the audited balance sheets and profit and loss accounts for the three latest years (or any lesser period for which the accounts have been prepared); and
(f) The names and address of the Managing Director and other Directors and their shareholdings.

3)  On receipt of the application under sub-rule (1), the Board may make such enquiries and call for further information as it may deem necessary.

(4)  If the Board is satisfied that the company should be declared as an approved industrial undertaking within the meaning of paragraph 8 of Part B of the Sixth Schedule to the Ordinance, it shall make an order to the effect and send a copy thereof to the company.


1. Rules 60,60A and 60B Omitted by S.R.O. No 151-L/95,dt.28-08-1995.


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