Registration and reporting obligations require banks to obtain ITDREIN and electronically submit Form V with a digital signature.
Authorised banks must register on the Income Tax e filing portal to obtain an ITDREIN (non deactivatable) and then register a designated director and principal officer via emailed activation links and OTPs. Banks must prepare Form V as an XML using the prescribed schema and utility from the portal and submit it electronically: the designated director logs in with ITDREIN and PAN and files Form V using his Digital Signature Certificate to enable next working day departmental verification.

Statement of Financial Transactions registration requires ITDREIN issuance and officer activation with OTP for compliant e filing.
Reporting persons must furnish a Statement of Financial Transactions in the prescribed form; registration on the e filing portal yields an ITDREIN that cannot be deactivated. Post registration, reporting entities submit entity details and register a Designated Director and Principal Officer, who complete activation via emailed link and OTP SMS. The Directorate prescribes procedural, data structure and security standards for secure capture, transmission, archival and retrieval of SFT data.

Deadline extension for obligations under the Finance Act extends the compliance period under the amended notification.
The Central Government substitutes the previously stated deadline in S.O. 1902(E) by replacing the figures, letters and words of the original date with a later date, thereby extending the compliance timeline established by that notification under the power conferred by Section 202 of the Finance Act, 2016.

Service of notices: prioritized physical and electronic addresses and secure transmission standards for tax communications established.
Payments under specified provisions must be made by pay order drawn on an authorised bank or designated public bank branches in favour of the assessing or tax recovery officer. Service of communications uses prioritized physical and electronic addresses drawn from PAN records, income-tax returns, and company details on the MCA website, subject to an addressee supplying an alternate address. The systems authority shall prescribe procedures and security standards for electronic transmission. A Register of Valuers is established; registered valuers under the Wealth-tax Act may apply via Form 8 with a non-refundable fee for approval by the Principal Commissioner/Commissioner.

Investment pattern for provident fund moneys mandates diversified allocations and quality constraints across fixed income, equity, and asset backed categories.
Prescribes a structured investment pattern for provident fund moneys from 1 April 2016, allocating assets across government securities, debt and infrastructure-related instruments, short-term money market instruments, equities, and asset-backed/trust instruments with prescribed minimums, maximums and sub-category ceilings. Specifies instrument eligibility and quality standards including listing, residual maturity, market capitalisation, issuer financial conditions and minimum credit ratings (generally AA or equivalent), permits use of credit default swaps to cover default risk in limited cases, caps turnover ratio, and requires exit when ratings fall below investment grade.

Industrial park approval grants conditional tax deduction eligibility subject to compliance with allocation, unit and reporting requirements.
Notification approves M/s Devraj Infrastructures Ltd.'s industrial park commencing 5th September, 2010 under clause (iii) of sub section (4) of section 80-IA, subject to Annexure and Industrial Park Scheme, 2008 conditions: minimum constructed area, allocable area percentages, at least thirty industrial units with associated-enterprise aggregation rules, unit occupancy limits, activity restrictions, separate books and Form IPS-II reporting, and non-transferability; approval is withdrawable for misstatement, nondisclosure or unauthorized project amendments.

Amendment to Income tax rules updates clause references and applies retrospectively without adverse effect to taxpayers.
The notification amends the Explanation to rule 114F by substituting specified sub clause and letter references, and re directs explanatory cross references concerning distributions from retirement and pension funds to the corresponding requirements in the Explanation to clause (5). The amendment applies to multiple items within clause (h) and clause (1) of rule 114F.

Pradhan Mantri Garib Kalyan Deposit Scheme requires declarants to deposit at least 25% of undisclosed income into non interest Bonds Ledger Accounts.
The Scheme establishes a temporary deposit mechanism whereby declarants under the Taxation and Investment Regime must place at least 25% of undisclosed income into a Bonds Ledger Account held with the Reserve Bank of India, accepted by authorised banks in specified modes, reported electronically to revenue authorities, transferred into a designated Reserve Fund, non-interest bearing, non-tradable, and repayable only after four years; applications require PAN or PAN application details and specified forms govern nomination, registration and confidentiality.

Corrigendum corrects wording in prior income tax notification, replacing a single word to amend its operative text.
Corrigendum to Notification No. 114/2016 directs that in the Gazette-published notification (S.O. No. 4033(E)) the last line be amended by substituting the word "this" with the word "the," formalised as Notification No. 119/2016.

Designation under Section 138: Joint Secretary (Marketing) specified for income tax administrative purposes by central notification.
Pursuant to sub-clause (ii) of clause (a) of sub-section (1) of Section 138 of the Income-tax Act, 1961, the Central Government by notification specifies the Joint Secretary (Marketing), Ministry of Petroleum and Natural Gas, Government of India, as the officer authorised for the purposes of that provision.

Jurisdiction of income-tax authorities: Principal Commissioners/Commissioners notified to receive electronic, EVC and digitally signed declarations.
The notification designates the Principal Commissioner or Commissioner exercising territorial jurisdiction to receive declarations filed manually or electronically using an electronic verification code, and designates either that territorial Principal Commissioner/Commissioner or the Commissioner of the Centralised Processing Centre, Bengaluru, to receive declarations filed electronically with a digital signature, thereby allocating jurisdiction by mode of filing.

Declaration of undisclosed income requires prescribed forms, payment of tax, surcharge, penalty and mandated deposit under PM Garib Kalyan rules.
The rules require declarants to file undisclosed income disclosures using Form-1 (cash or deposits), submitted electronically with digital signature or electronic verification code or in print; revised declarations are permitted before the notified date. The Principal Commissioner/Commissioner must issue a Form-2 certificate after acceptance. Declarants must pay tax, surcharge and penalty calculated on the declared amount and deposit a mandated portion into the Pradhan Mantri Garib Kalyan Deposit Scheme, providing proof of payment and deposit and completing prescribed identity and verification attestations.

Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana appointed into force with specified period to file declarations.
The Central Government, exercising powers under the Finance Act, 2016, appointed the date on which the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 comes into force and fixed the final date by which a person may make a declaration under the statutory provision authorising declarations.

Rescission of Notification under tax law effective on publication, preserving acts and omissions made prior to rescission.
The Central Government, exercising powers under section 94A of the Income-tax Act, rescinds notification number 86 of 2013 with prospective effect from the date of publication of the rescinding notification in the Official Gazette, while preserving acts done or omissions made prior to the rescission; a corrigendum corrected a typographical term before publication.

Form 27BA certification procedure enables avoidance of collector default through accountant-certified electronic filing and recalculation of interest.
Procedure requires furnishing and verification of Form 27BA to avoid assessee-in-default treatment for short collection or non-collection where the buyer has filed return, included the amount in income and paid tax, supported by an accountant's certificate. Collectors obtain transaction identifiers via TRACES, authorize and transmit identifiers to a registered accountant who completes Annexure A on the e-filing portal; the collector then digitally submits Form 27BA. TRACES reprocesses statements, recalculates short-collection and late collection interest, and the collector must pay the modified interest prior to submission where applicable.

Corrigendum alters notification wording: replaces 'established under' with 'referred to in' in tax notification.
Corrigendum corrects a prior income-tax notification by directing that, in the cited Gazette entry, the phrase "established under" is to be read as "referred to in", thereby altering the operative wording used to identify the entities or provisions covered by that notification; the corrigendum also records the departmental file reference and signatory.

Tax exemption for regulatory board: specified grants, fees and interest exempt subject to non-commercial operation and filing conditions.
Central Government notifies Petroleum and Natural Gas Regulatory Board under clause (46) of section 10 of the Income-tax Act in respect of specified income comprising Central Government grants, other grants, fees and penalty charges, sums approved under sections 38 and 39 of the PNGRB Act, 2006, and interest on deposits. The notification applies for the stated assessment years and is subject to conditions that the Board shall not engage in commercial activity, its activities and the nature of specified income remain unchanged during the financial year, and it files its return of income as required by clause (g) of sub section (4C) of section 139.

Form 26A procedure: electronic certification and reprocessing mechanism for removing TDS short deduction and non-deduction defaults.
Procedure prescribes electronic and paper modes for furnishing Form 26A to remove defaults for short deduction or non-deduction of TDS. Deductors obtain transaction details on TRACES, generate unique DINs/alpha-numeric strings, authorize a registered accountant on the e-filing portal who completes and digitally signs Annexure A, and finally digitally sign and submit Form 26A. TRACES and CPC-TDS reprocess statements to modify short deductions, recalculate late deduction interest, and the deductor must pay the revised interest before filing; validations require the deductee's return filed under section 139 with no outstanding demand.

Tax exemption under Section 10(46) for BIS specified incomes, subject to non commercial operation and statutory filing conditions.
Central Government notifies BIS for tax exemption under clause (46) of section 10 in respect of certification fees, sale of standards (where no profit is involved), and interest income. The notification applies for assessment years 2017-18 through 2021-22 and is subject to conditions: BIS must not engage in commercial activity; the activities and nature of the specified income must remain unchanged during the financial year; and BIS must file its return of income as required by clause (g) of sub-section (4C) of section 139.

Tax exemption for regulatory commission: specified incomes exempted subject to non-commercial operation and statutory filing.
Notification under section 10(46) designates the Maharashtra Electricity Regulatory Commission for exemption of specified incomes-including annual licence fees, interest on deposits, application/petition fees, State Government grants, document fees, penalties for delayed licence fees, RTI fees, and sale of scrap-subject to conditions that the Commission not engage in commercial activity, that its activities and the nature of the specified income remain unchanged, and that it files returns of income as required under the specified filing provision.