Tax exemption under Section 35AC extended for a specified eligible project, preserving tax benefit for further assessment years.
Exemption under Section 35AC is extended to the construction, furnishing and running of the Indian Craft Village project by Indian Craft Village Trust, with the Central Government specifying the scheme as an eligible project for a further period of three assessment years commencing from the assessment year 1998-99 following a National Committee recommendation that the project is being executed properly.

Tax exemption under section 35AC extended to Tiruvarur Lions Eye Hospital project for additional assessment years.
The Central Government, exercising powers under sub-section (1) read with the Explanation to section 35AC, specifies the construction, equipment and furnishing of Tiruvarur Lions Eye Hospital at Vandampalai, Tamil Nadu, carried out by Tiruvarur Lions Eye Hospital, as an eligible project for a further period of three assessment years commencing from assessment year 1998-99, pursuant to a recommendation by the National Committee and at the estimated cost set out in the notification.

Exemption under section 35AC extended to aquatic centre project, eligible for three further assessment years from 1999 2000.
The Central Government specified the construction and running of the Basavanagudi Aquatic Centre as an eligible project for exemption under section 35AC, and, following the National Committee's recommendation that execution was proper, extended that specification for a further three assessment years commencing from the assessment year 1999 2000 at an estimated cost of one hundred lakhs thirty thousand by notification under the Income tax Act.

Exemption under section 35AC: extension of eligible project status for school hostel construction following National Committee recommendation.
Exemption under section 35AC: the Central Government specified the construction, equipment and furnishing of a school hostel at Village Boxma by Sanatan Rishikul Ashram Sewa Trust as an eligible project; after a National Committee recommendation that the project was being executed properly, the Government extended the project's eligibility for a further one assessment year period.

Exemption under section 35AC extended for Primary Health Project, qualifying donations remain eligible for tax relief.
The Central Government specifies the Primary Health Project executed by Dalmia Bharat Seva Trust in 30 villages of Sundergarh District as an eligible project under Section 35AC, following the National Committee's recommendation, and extends its eligibility for a further two assessment years commencing from the assessment year 1999-2000 at the recorded estimated project cost.

Tax exemption eligibility extended for a charitable TB project, preserving continued donor deduction eligibility and project status.
The Central Government specified continuation of eligibility for the World Memorial Fund T.B. Project - four mobile teams in Sikkim, Himachal Pradesh, Surat and Delhi - as an eligible project under the tax exemption mechanism, following prior notifications and a recommending report by the National Committee; the project is specified for a further three assessment years from assessment year 1999-2000 at an estimated approved cost of rupees forty lakhs forty-one thousand six hundred.

Section 35AC exemption extended for sports complex project, specifying continued eligibility and administrative approval for further assessment years.
The Central Government specifies the construction and furnishing of the Memnagar sports complex by the Ahmedabad Government Employees Tennis Association as an eligible project under section 35AC, following a National Committee recommendation that the project was being executed properly, and extends the scheme's eligibility for a further three assessment years commencing from assessment year 1999-2000.

Exemption under section 35AC extended to indoor gymnasium construction project with authorised location change and renewed eligibility.
The Central Government specifies the construction of an indoor gymnasium hall and health club by the Allahabad Gymnastics Association as an eligible project for tax exemption under the income-tax statutory framework, extends eligibility for a further three assessment years commencing from the assessment year specified, authorises a change of project location to a plot in Beniganj, Tehsil Chail, Allahabad, and records the estimated project cost pursuant to a national committee recommendation and the income-tax rules.

Specified securities under section 54EA: shares and debentures of Shapoorji Pallonji with three-year transfer restrictions and one-year allotment condition.
Central Board of Direct Taxes designates shares and debentures of Shapoorji Pallonji Infrastructure Capital Company Ltd. as specified securities under section 54EA. The securities are subject to three year non transferability (and non convertibility for debentures) from allotment and must be issued and allotted to the assessee within one year of the notification, with specified aggregate issue caps.

Specified securities under section 54EB: non-transferable shares and debentures with seven-year lock in and one-year allotment.
The notification designates shares and debentures issued by Shapoorji Pallonji Infrastructure Capital Company Ltd as specified securities under section 54EB, subject to company-level issuance ceilings, a seven-year non-transferability/non-convertibility lock-in from the date of allotment, and the condition that the instruments be issued and allotted to the assessee within one year from the notification's publication.

Appointment under Section 35AC: reconstitution and member appointments for the national committee promoting social and economic welfare.
The Central Government, exercising powers under the income-tax statute and relevant rules, reconstituted the National Committee for Promotion of Social and Economic Welfare and appointed a chairman and members for a fixed three-year term beginning 2 January 1998, listing designated individuals and noting a substitution to an earlier member entry.

Double taxation avoidance: India Sweden tax treaty allocates taxing rights and sets residence, PE and information exchange rules.
The Convention creates a reciprocal framework to avoid double taxation and prevent fiscal evasion between India and Sweden by allocating taxing rights, defining residents and taxes covered, and setting rules on permanent establishment, attribution of profits, and specific sourcing rules for dividends, interest, royalties, capital gains and personal services. It prescribes methods of relief (credit and related provisions), non discrimination, mutual agreement procedure for disputes, exchange of information with confidentiality safeguards, and collection assistance, together with entry into force, transitional timing and termination provisions.

Exemption under section 35AC: school for mentally retarded children specified as eligible project, extended for three assessment years.
The Central Government, acting under the Income-tax Act and on the National Committee's recommendation, specifies the Sabarkantha Charitable Trust's school for mentally retarded children as an eligible project or scheme, extending that specification for a further three assessment years commencing from assessment year 1999-2000, and confirms the project's approved estimated cost of rupees four lakhs sixty thousand.

Tax exemption for specified rural welfare project extended and approved project cost increased under Section 35AC.
Specification under Section 35AC designates the maintenance scheme of Shri Sathya Sai Gramin Jagriti Seva Sadan-a multi-dimensional rural welfare project including health care, education, sports, spiritual activities and vocational training-as an eligible project for tax exemption, and the Central Government extends the project's eligibility for an additional three assessment years while increasing the approved project cost following the National Committee's recommendation.

Tax exemption under section 35AC extended for hospital maintenance project, preserving eligibility for donor deductions.
The Central Government, under sub-section (1) read with clause (b) of the Explanation to section 35AC, specifies maintenance of S. J. Patel Sarvajanik Hospital at Paliad, carried out by Gramya Vikas Mandal, Paliad, as an eligible project or scheme for a further period of three assessment years and enhances the estimated project cost to the revised amount, following a recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962.

Deduction under section 35AC: Central government approves specific charitable projects and caps allowable deduction for each notified scheme.
The Central Government approves specified institutions and, for each, designates the eligible project or scheme, the estimated cost and the maximum amount of that cost allowable as a deduction under section 35AC of the Income-tax Act, including where indicated separate corpus fund components and capped deductible amounts.

Tax exemption notification: Jesuit Madurai Province granted tax-exempt status subject to exclusive income application and investment limits.
Notification under section 10(23C)(v) notifies The Jesuit Madurai Province, Dindigul, as eligible for tax-exempt status for the assessment years 1991-92 to 1993-94 subject to conditions: income must be applied wholly and exclusively to establishment objects; investments must be limited to forms permitted by section 11(5) (except specified voluntary contributions); and profits and gains of business are excluded unless incidental to objectives and accounted for in separate books.

Tax deduction under section 80L: specification of Industrial Reconstruction Bank bonds recognised for tax purposes.
Exercise of notification power under the Income-tax Act to specify an 18th series of taxable Industrial Reconstruction Bank of India bonds, bearing a specified interest rate and 20 year tenor, as issued for the purposes of clause (ii) of sub section (1) of section 80L; the notification records distinctive numbering blocks for the series and the aggregate amount issued.

Approval as housing finance company under section 36(1)(viii) grants tax recognition subject to compliance.
M/s. Home Trust Housing Finance Co. Ltd. has been approved as a housing finance company for the purposes of section 36(1)(viii) of the Income-tax Act for specified assessment years; the approval is subject to the condition that the company will conform to and comply with the provisions of section 36(1)(viii).

Housing Finance Company approval permits tax treatment under section 36(1)(viii) subject to compliance with that provision.
M/s. Vidarbha Housing Development Finance Co. Limited is approved as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961 for the assessment years 1996-97 to 1998-99, and the approval is conditional on the company conforming to and complying with the provisions of section 36(1)(viii).