Charitable exemption recognition conditioned on exclusive application of income and prescribed investment and accounting limits.
Notification recognizes Shri Durgiana Committee for specified assessment years subject to conditions: income must be applied or accumulated solely for its objects; funds may not be invested or deposited except in the prescribed forms for charitable trusts (voluntary contributions held as jewellery, furniture, etc., excepted); and income from business is excluded unless the business is incidental to the objectives and separate books of account are maintained.

Tax exemption under section 10(23C)(v) notified for Society subject to exclusive application of income and investment limits.
Notification grants section 10(23C)(v) status to the Society for specified assessment years, conditional on applying income wholly and exclusively to its objects, limiting investment or deposit of funds to forms permitted for charitable institutions (excluding certain voluntary contributions held as tangible assets), and excluding business income unless the business is incidental and accounted for in separate books.

Notification under section 10(23C)(v): exemption granted to a society subject to application and investment conditions.
Notification declares The Institute of the Franciscan Missionaries of Mary, Society No. 13, Nilgiris entitled to the specified charitable exemption for assessment years 1990-91 to 1992-93, subject to conditions that income be applied or accumulated exclusively for its objects; investments and deposits (other than certain voluntary contributions in kind) be limited to prescribed modes; and business income is excluded unless incidental to objectives with separate books maintained.

Notification under section 10(23C)(v): temple income recognised subject to exclusive application, permitted investments, and business accounting conditions.
Notification under section 10(23C)(v) recognizes Arulmigu Kallalagar Thirukkoil for the provision on condition that its income is applied or accumulated wholly and exclusively to its objects; its funds (apart from specified voluntary contributions retained in kind) are invested only in modes permitted for charitable application of income; and the notification does not cover business profits unless the business is incidental to the objects and maintained in separate books.

Charitable recognition subject to exclusive application of income and prescribed investment and business restrictions.
Notification under 10(23C)(v) notifies Idara Dawatul Quran, Bombay for specified assessment years on conditions: apply income wholly and exclusively to its objects or accumulate for such application; restrict investments or deposits to forms specified in sub section 11 except voluntary contributions maintained as jewellery, furniture, etc.; and exclude business income unless incidental to objectives with separate books maintained for such business.

Specified taxable interest for HUDCO Bonds payable half yearly under section 80L for designated Series III issues.
Central Government specifies a 14 per cent. (taxable) interest rate payable half yearly on HUDCO Bonds (Series III) issued by the Housing and Urban Development Corporation Limited for the purposes of clause (ii) of sub section (1) of section 80L of the Income tax Act, 1961, identifying the bonds by distinctive numbers and stating their face value and aggregate issuance.

Tax-free HUDCO bond specification: benefit contingent on holder registration with issuer under income-tax exemption provision.
Central Government specifies 10.5 per cent. tax-free HUDCO Bonds (Series III) issued by the Housing and Urban Development Corporation Limited as eligible for the exemption under item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, identifying bonds by distinctive serial number ranges and face value. The exemption is admissible only if the holder registers his or her name and the holding with the Corporation.

Committee appointments: National Committee for Promotion of Social and Economic Welfare reconstituted, appointing chair and members for a fixed term.
The Central Government reconstituted the National Committee for Promotion of Social and Economic Welfare under the authority of section 35AC read with rule 11G, appointing a Chairman and fourteen members for a prescribed fixed term and publicly listing each appointee with their professional designation to satisfy the statutory governance and administrative notification requirements for the committee.

Tax-law specification recognizes Shriram Mutual Fund as a specified mutual fund, enabling prescribed income-tax treatment.
Central Government specifies Shriram Mutual Fund under clause (23D) of section 10 of the Income-tax Act. The Fund was set up by a trust deed dated 27 May 1994 by Shriram Investments Limited and registered under rule 9 of the SEBI Mutual Funds (Regulations), 1993, with registration code MF/017/94/4 dated 21 November 1994; specification effected by Notification No. 924(E) dated 22 December 1994.

Specification of telephone bonds under income tax provision permits issuance of secured multi year redeemable non convertible bonds by MTNL.
Central Government specifies issuance of taxable secured redeemable non convertible telephone bonds by Mahanagar Telephone Nigam Ltd as the 10th Series Issue for purposes of the income tax provision, detailing three five year tranches identified by distinctive serial number ranges, aggregate issue amounts, denomination and the secured redeemable non convertible character of the bonds.

Specification under section 10(23D) designates CRB Mutual Fund as a mutual fund for tax purposes.
Specification under section 10(23D) designates CRB Mutual Fund as a mutual fund for the purposes of that clause, the Central Government having notified the fund as authorised by SEBI and registered under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1993.

Tax exemption under 10(23C)(v) conditioned on exclusive application of income, permitted investments, and separate books for incidental business.
Notification grants tax-exempt status under 10(23C)(v) to Govind Bhawan Karyalaya, Calcutta for specified assessment years, conditional on applying or accumulating income wholly and exclusively for its objects, restricting investments to forms permitted for charitable trusts except voluntary contributions retained as jewellery or furniture, and excluding business profits unless the business is incidental and maintained in separate books.

Tax-free secured bonds specified for NTPC; tax benefit conditional on holder registration with issuer and semiannual interest.
Central Government specifies tax-free secured redeemable bonds (XI Series) issued by National Thermal Power Corporation Limited under section 10(15)(iv)(h), carrying semiannual interest and a ten-year tenor, identified by a defined serial number range; the tax exemption is admissible only if the bondholder registers his name and holding with the issuing corporation.

Specification under section 80L: NTPC XIth Series bond issues designated as qualifying securities for tax specification.
Central Government designates two XIth Series secured redeemable bond issues of National Thermal Power Corporation Limited for the statutory specification mechanism: the Seven Years 15.5% taxable series allotted 26 2 1994 (distinctive numbers K00000001-K00022600, Rs. 1,000 each, aggregating Rs. 2.26 crores) and the Seven Years 14% taxable series allotted 24 3 1994 (distinctive numbers K00022601-O1285000, Rs. 1,000 each, aggregating Rs. 126.24 crores), thereby specifying them for the purposes of the relevant income tax provision.

Tax exemption under section 10(23C)(v) granted subject to exclusive application of income and specified investment conditions.
Notification designates Shree Kashi Math Samsthan, Bombay as qualifying for the tax-exemption sub-clause for the stated assessment years, conditional on: (1) applying or accumulating income wholly and exclusively to its objects; (2) restricting investments to permitted forms with an exception for voluntary contributions held as jewellery or furniture; and (3) excluding business income unless incidental and recorded in separate books.

Approval under section 35AC extended for specified institutional projects, renewing tax-eligible status for listed assessment years.
Approval under the Income-tax Act is extended to Banwasi Seva Ashram, Govindpur, Sonbhadra, U.P., for the projects and schemes previously notified, on the National Committee's recommendation and pursuant to the applicable explanation and rules, because the National Committee was satisfied that the eligible projects were being executed properly; the approved status is extended for a further period covering the specified assessment years.

Amendment to section 35AC notification reduces specified villages for school construction, narrowing qualified activity scope.
The Central Government amends Notification No. S.O. 579(E) under the Explanation to section 35AC, substituting in the Table against serial number 2, column (3), the phrase "(c) Construction of school building in four villages" with "(c) Construction of school building in three villages," thereby reducing the enumerated number of villages specified for the qualified activity in that notification.

Tax deduction approvals for specified eligible projects under section 35AC enable capped deductions for contributions to listed institutions.
The notification approves named institutions and their specified projects as eligible for a tax deduction under section 35AC, listing each project's estimated cost and the maximum amount allowable as a deduction, and prescribing assessment year durations for which the approval and deductibility apply.

Tax free bond specification: REC bond exemption conditioned on holder registration with the issuer.
The Central Government specifies 10.5 per cent tax free REC Bonds-2001 (XXVIth series) as exempt under item (h) of sub clause (iv) of clause (15) of section 10 of the Income tax Act, identifying distinctive bond ranges, face values and aggregate amount issued by Rural Electrification Corporation Limited, and conditions the admissibility of the exemption on the holder registering his name and holding with the issuing corporation.

Income tax notification under section ten clause tenC designates an educational institution for exemption for tax purposes.
Central Government, exercising powers under sub clause (viii) of clause (10C) of section 10 of the Income tax Act, 1961, notifies the Indian Institute of Management, Bangalore for the purposes of that clause by S.O.881(E) dated 17 11 1994 (Notification No. 9641/F.No.200/94/94 ITA I).