Research institute approval under tax law requires compliance with reporting and accounting obligations and annual audit filings.
Approval is granted to Fie Research Institute, Ganganagar, as an Association for tax purposes subject to conditions: maintain a separate account for sums received for scientific research; furnish annual returns of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31st May each year; and submit audited annual accounts showing income, expenditure, assets and liabilities to designated income tax and departmental authorities by 30th June each year. The notification specifies a fixed effective period and prescribes procedures and timelines for applying for extension of the approval.

Customs exemption for fairground amusements permits reduced duty and waiver of additional duty on imports for amusement parks.
The Central Government exempts roundabouts, swings and other fairground amusements and their parts and accessories imported for setting up amusement parks from customs duty in excess of a specified ad valorem cap and from the whole of the additional duty, subject to the importer producing an import licence under the Import and Export Policy and giving an undertaking that the goods will remain in his possession, control and use for five years, with liability to pay the duty differential on breach.

Proviso on tax deduction: specified National Housing Bank bonds transfer exempt if transferee notifies bank within sixty days.
Notification specifies the 11.5 per cent National Housing Bank Bonds, 2010 (Third Series) under clause (iib) of the proviso to section 193, making the proviso applicable to transfers of those bonds; however, where transfer is by endorsement or delivery the proviso's benefit is allowed only if the transferee informs the National Housing Bank by registered post within sixty days of the transfer.

Specified bond recognition under clause (iib) requires transferee to notify issuer by registered post within sixty days.
The Central Government specifies the 11.5 per cent Exim Bank Bonds-2010 (Eighth Series) as specified bonds under the proviso to clause (iib) of section 193 of the Income tax Act, and provides that the proviso's benefit on transfer by endorsement or delivery is admissible only if the transferee informs the issuing bank by registered post within sixty days of the transfer.

Research approval under section 35(1)(ii) requires separate research accounts and annual audited returns to authorities.
The National Health and Education Society, Bombay is approved as an Institution for tax treatment of scientific research subject to conditions: maintain a separate account for research receipts; file annual returns of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31st May; and submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the Commissioner/Director of Income-tax (Exemptions) by 30th June. The notification sets an effective period and prescribes procedures for applying for extension of approval.

Research expenditure approval under section 35(1)(ii) subject to separate accounting and annual reporting requirements.
Approval is granted to the National Institute of Construction, Management and Research as an institution for purposes of Section 35(1)(ii), subject to maintaining separate accounts for scientific research, furnishing annual returns of research activities to the Secretary, Department of Scientific and Industrial Research by the prescribed annual deadline, and submitting audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, and the local Commissioner/Director of Income-tax (Exemptions) by the stated annual date.

Central Excise amendment revises territorial references in rule two clause (ii)(A), altering excluded talukas in specified districts.
Amendment to the Central Excise Rules removes the parenthetical exclusion of specific talukas in item (a) of rule 2, clause (ii), sub-clause (A), and substitutes the previously enumerated localities in item (b) with a revised list naming only the specified districts; the changes take effect on publication in the Official Gazette.

Exchange rate amendment updates Belgian franc customs schedule entry and applies from the stated effective date.
The operative change replaces serial No. 3 in the Schedule to Notification No. 80/90-Cus. (N.T.) with a new entry specifying the Belgian franc conversion rate and declares that this revised rate will be effective from 18-2-1991.

Specified NTPC bonds: transferee must notify the issuer by registered post within prescribed period to secure proviso benefit.
Central Government designates a private placement series of secured, redeemable, non convertible bonds issued by the National Thermal Power Corporation as specified for the proviso to the Income tax Act. The proviso's benefit is conditional: a transferee may claim the benefit only if the transferee informs the issuing corporation by registered post within sixty days of the transfer of the bonds.

Specified NTPC bonds qualify for tax benefit subject to transferee notifying the issuer by registered post within sixty days.
Central Government specifies the 7 year 13 per cent. taxable secured redeemable non convertible NTPC Bonds (VI Issue) issued by National Thermal Power Corporation Limited as qualifying securities under clause (ii) of sub section (1) of section 80L. The tax benefit on transfer by endorsement or delivery is admissible only if the transferee informs the Corporation by registered post within sixty days of the transfer.

Tax-exempt railway bonds: entitlement contingent on holder registering with issuer under the specified notification.
Central Government specifies secured, redeemable, non-convertible railway bonds as tax-exempt for Income-tax Act purposes; the exemption is subject to the condition that the bondholder registers his name and holding with the issuer, making registration a precondition for enjoying the tax benefit.

Research expenditure approval requires institutions to keep separate accounts and file annual audited returns by stated deadlines.
The National Council of Applied Economic Research is approved as an Institution for tax recognition related to scientific research, subject to maintaining a separate account for research funds, furnishing annual scientific research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts showing income, expenditure, assets and liabilities to specified tax and departmental authorities by 30 June each year.

Exchange rate determination for Russian rouble under Customs Act; official conversion rate set and prior notification superseded.
Under authority of section 14 of the Customs Act, 1962, the Central Government fixes the official conversion rate for one Russian rouble at rupees 24.2324 for customs purposes, superseding the prior notification; this rate is effective from 13th February, 1991.

Exchange rate amendment updates notified currency rate entry and takes effect on the specified effective date.
The Central Government, exercising powers under provisions of the Indian Stamp Act and the Customs Act, substitutes serial No. 1 in the Schedule to Notification No. 80/90-NT-Cus., replacing the entry with a revised rate for Austrian Schillings; the amended rate is declared to be effective from the stated effective date.

Approval under section 35(1)(iii) requires institutions to keep separate research accounts and submit audited annual returns.
Approval granted to the Indian Institute of Psychometry, Calcutta as an Institution under clause (iii) of sub-section (1) of section 35 is subject to maintaining a separate account for scientific research receipts, furnishing annual research activity returns to the Secretary, Department of Scientific and Industrial Research by 31st May, and submitting audited annual accounts showing income, expenditure, assets and liabilities to specified tax and departmental authorities by 30th June each year; approval applies for 1 April 1991 to 31 March 1992 and prescribes procedures for applying for extension.

Approval under section 35(1)(iii): institution must maintain separate research accounts and file audited annual returns.
Approval confers recognition of Indira Gandhi National Centre for the Arts as an Institution under clause (iii) of sub-section (1) of section 35, subject to conditions: maintain a separate account for scientific research receipts; furnish annual returns of scientific research activities by 31st May; and submit audited annual accounts showing income, expenditure, assets and liabilities to specified authorities by 30th June. The approval is time-bound and requires timely application for extension through the jurisdictional tax officer, with special procedures for late orders and additional copy requirements for extension applications.

Research approval under section 35(1)(ii) mandates separate accounting and annual audited submissions to tax and science authorities.
Approval under clause (ii) of sub-section (1) of section 35 is granted to the Foundation for Coil Winding Technology and Research, Pune, as an "Association," subject to maintaining a separate account for research receipts, furnishing annual research activity returns to the Secretary, Department of Scientific and Industrial Research by 31st May, and submitting audited annual accounts to the Director General (Exemptions), the Secretary, and the local Commissioner/Director of Income tax (Exemptions) by 30th June each year.

Approval under section 35(1)(iii) requires separate research accounts, annual returns and audited accounts filings.
Approval is granted to Social Policy Research Institute, Jaipur, as an Institution under clause (iii) of sub-section (1) of section 35 of the Income-tax Act, subject to maintaining a separate account for research receipts, furnishing annual research returns by 31 May each year, and submitting copies of audited annual accounts showing income, expenditure, assets and liabilities to designated tax and scientific research authorities by 30 June each year.

Approval under section 35(1)(ii) requires Hyderabad Science Society to maintain separate research accounts and submit annual audited returns.
Approval under section 35(1)(ii) is granted to Hyderabad Science Society as an Institution, conditional on maintaining a separate account for scientific research, furnishing annual research activity returns by 31st May to the Secretary, Department of Scientific and Industrial Research, and submitting audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, and the tax jurisdictional Commissioner/Director by 30th June each year.

Research institution approval requires separate research accounts and annual audited disclosures to tax and scientific authorities.
Approval is granted to Lady Anusya Singhania Medical Research Society as an institution for income-tax purposes relating to scientific research, conditional on maintaining a separate account for research funds, furnishing annual research activity returns to the Secretary, Department of Scientific and Industrial Research by 31st May, and submitting audited annual accounts to the Director General of Income tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the relevant Commissioner/Director of Income tax (Exemptions) by 30th June each year.