Tax exemption recognition for Sundaram Charities under charitable institution rules, subject to application and investment conditions.
Central Government notifies Sundaram Charities, Madras, under section 10(23C)(v) for specified assessment years, subject to conditions: income must be applied or accumulated wholly and exclusively to charitable objects; investments must be limited to modes permitted under section 11(5) (except specified voluntary contributions held in kind); and business income is excluded unless incidental and recorded in separate books of account.

Section 35AC exemption extended to RLEK's Gujjar literacy scheme for a further assessment period of eligibility.
The Central Government, under section 35AC, specifies the RLEK-implemented total literacy scheme for nomadic Gujjars in Western Uttar Pradesh as an eligible project for tax exemption for a further period of assessment years commencing from the assessment year 1996-97, following the National Committee's recommendation and noting the estimated project cost and satisfactory execution.

Tax exemption for eligible projects extended: sports complex at Memnagar remains specified and eligible for a further period.
The Central Government specifies the construction and furnishing of a sports complex at Village Memnagar by the Ahmedabad Government Employees Tennis Association as an eligible project for tax exemption under the Income tax Act, following a National Committee recommendation that the project is being executed properly; the specification covers a further period of two assessment years commencing from the assessment year 1996 97 at an estimated cost of sixty one lakhs.

Deduction under section 35AC revised to increase allowable cost for a specified project in government notification
The Central Government, exercising powers under sub section (1) read with clause (b) of the Explanation to section 35AC and on the National Committee's recommendation, amends the notification S. O. 743(E) by substituting a higher amount in the Table entry for Jindal Aluminium Limited, Bangalore, replacing the earlier maximum cost permitted as deduction with the newly stated maximum in the notification dated 14 12 1995.

Exemption under section 35AC: specified institutions' projects approved for deduction with fixed eligible cost limits and time bounds.
Notification approves specified institutions for deduction under the Income-tax provision analogous to section 35AC by naming projects, stating estimated costs and fixing the maximum deductible amount. It lists Jindal Aluminium Limited for a Rural Mobile Medical Clinic (deductible cost Rs.6.00 lakhs) and Bongaigaon Refinery and Petrochemicals Limited for welfare schemes and an Eye Hospital (deductible cost Rs.55.00 lakhs), and prescribes the notification's effective periods as one year for the first entry and two years for the second in relation to the stated assessment years.

Exemption under section 35AC: specified institutions' projects approved and maximum project costs permitted as tax deductions.
The Central Government, under section 35AC, approves specified institutions and designates particular projects or schemes as eligible, stating estimated project costs and the maximum portion of those costs allowable as a deduction. The notification lists institutions with project descriptions and deductible cost ceilings and prescribes the assessment year periods (two or three years as specified for particular serial numbers) during which those projects may qualify for the section 35AC deduction.

Income tax exemption notification conditions for a charitable institution, requiring exclusive application of income and restricted investments.
Notification under section 10(23C)(v) notifies Basava Samithi for income-tax exemption for specified assessment years, conditional on applying or accumulating income exclusively to its objects, restricting investments to permitted forms (with an exception for certain voluntary contributions held as movable property), and excluding business profits unless the business is incidental and accounted for in separate books.

Tax-exempt bonds under section 10(15)(iv)(h): issuance specified and exemption contingent on holder registration requirement.
The Central Government specifies 7-years 10.5 per cent. (Taxfree) NEEPCO Bonds as specified exempt securities under item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, identifying the bonds by distinctive numbers and aggregate issuance; the exemption is admissible only if the holder registers his/her name and the holding with the issuing corporation.

Tax exemption notification: Veerayatan Rajgir recognised subject to income application, permitted investments and business conditions for assessment years.
Notification recognises Veerayatan, Rajgir under sub clause (v) of clause (23C) of section 10 for specified assessment years, subject to conditions: income must be applied or accumulated wholly and exclusively to the institution's objects; investments/deposits during the relevant previous years are restricted to statutory modes (excluding certain voluntary contributions in forms like jewellery or furniture); and the notification does not cover profits and gains of business unless the business is incidental to the objects and maintained in separate books.

Notification under section 10(23C)(v): tax exempt status granted to religious trust subject to application, investment, and business conditions.
Notification under section 10(23C)(v) notifies Shri Sai Baba Sansthan, Shirdi as eligible for that sub clause for the assessment years specified, subject to conditions requiring that income be applied or accumulated exclusively for the assessee's objects; investments be restricted to forms permitted by the Act (with an exception for certain voluntary contributions maintained as jewellery, furniture, etc.); and that business income is excluded unless the business is incidental and accounted for in separate books.

Double taxation treaty allocates taxing rights between India and Malta, limiting source state taxation of dividends, interest and royalties.
The Agreement sets a bilateral double taxation framework allocating taxing rights by income categories and prescribes elimination methods: resident taxation subject to source state taxing of immovable property, business profits attributable to a permanent establishment, exclusive taxation for international shipping and air transport profits, and situs/residence rules for gains. It defines resident, permanent establishment (including construction, substantial equipment and dependent agents with contracting authority) and provides withholding ceilings for dividends, interest, royalties and technical fees with beneficial owner and effective connection exceptions, together with mutual agreement, exchange of information and non discrimination procedures.

Specification under income tax provision: SAIL secured redeemable nonconvertible bonds notified as qualifying instruments for tax purpose.
Central Government notifies specified secured redeemable non convertible bonds issued by Steel Authority of India Limited as qualifying instruments under the income tax provision, listing three discrete issues distinguished by maturity, coupon characterisation, distinctive serial number ranges, face value per bond and aggregate issue value.

Housing finance company approval granted subject to compliance with section 36(1)(viii) and long term residential fund utilisation.
Approval was granted to M/s. Parashwanath Housing Finance Corporation Limited as a housing finance company under the Income tax Act for specified assessment years, subject to conformity with the Act's housing finance company provisions and the condition that not less than seventy five percent of investible funds are continuously utilised to provide long term housing finance for residential purposes.

Offshore mutual fund designation recognizes specified Indbank fund under tax exemption provision, conferring status for income-tax purposes.
Central Government designates Indbank Communications (Offshore) Fund as an offshore mutual fund for purposes of the Income-tax Act, based on its establishment by trust deed dated 6 September 1994 by Indbank Merchant Banking Services Limited and its approval by the Securities and Exchange Board of India.

Exemption under section 35AC extended: eligible rural welfare project retained following national committee recommendation.
The Central Government specifies the Sri Sathya Sai Gramin Jagriti Seva Sadan, a multi dimensional rural welfare project providing health care, education, sports, spiritual activities and vocational training at Village Darwa, Yamuna Nagar, Haryana, as an eligible project under section 35AC for a further period of three assessment years commencing from the assessment year 1996 97, following the National Committee's recommendation and noting the estimated project cost.

Tax exemption recognition: charitable institution allowed under income tax provision subject to exclusive income application and investment limits.
Notification designates Guruvayur Devaswom under sub clause (v) of clause (23C) of section 10 for the specified assessment year, subject to conditions: income must be applied or accumulated wholly and exclusively to its objects; funds (except voluntary contributions in jewellery, furniture etc.) must be invested only in permitted modes; and the notification does not cover business profits unless the business is incidental and separately accounted.

Notification under section 10(23C)(v) recognizes Guruvayur Devaswom for tax-exempt status for specified assessment years by Central Government
Central Government, exercising powers under section 10(23C)(v) of the Income-tax Act, 1961, notifies Guruvayur Devaswom as qualifying under that sub-clause for the purposes of exemption in respect of the specified assessment years, thereby treating the institution as eligible for the tax treatment conferred by the cited provision for those years.

Exemption under section 35AC: extension of eligibility for a special education centre project for disabled children.
The Central Government specifies the building of a centre for special education for disabled children at Guwahati by Shishu Sarothi Spastics Society of Assam as an eligible project for exemption under section 35AC, and, following the National Committee's recommendation that execution is proper, extends the project's eligibility for a further three assessment years commencing from assessment year 1996-97.

Income tax exemption provision: specified charitable rehabilitation project retains eligible status after administrative extension based on committee approval.
Central Government specifies the Half Way Home for Alcoholics and Drug Addicts at Tumkur, run by R. S. Aradhya Charitable Trust, as an eligible project for income-tax exemption under the relevant statutory provision, extending the prior three-year specification for a further three assessment years commencing 1996-97 following the National Committee's recommendation that the project is properly executed; the notification names the trust, location and estimated project cost and records the exercise of the Government's power to specify eligible projects.

Tax exemption for association conditioned on exclusive income use, prescribed investments, limited distributions, and separate business accounts.
Notification grants exemption to the assessee under clause (23) of section 10 for assessment years 1990-91 to 1992-93, conditional on: exclusive application or permitted accumulation of income in line with section 11 provisions as modified; investment or deposit only in forms/modes specified by section 11(5) except certain tangible voluntary contributions; prohibition on distributing income to members except grants to affiliated bodies; and exclusion of business profits unless incidental to objectives with separate accounting.