Tax exemption under section 10(23C)(v) requires restricted investments and exclusive application of income for specified assessment years.
Notification under section 10(23C)(v) notifies Bochasanwasi Shri Akshar Purushottam Sanstha, Ahmedabad for specified assessment years, subject to conditions that income be applied or accumulated wholly and exclusively to its objects; investments or deposits (except certain retained voluntary contributions) be only in forms specified by section 11(5); and that profits and gains of business are excluded unless the business is incidental and maintained in separate books.

Tax exemption under charitable-exemption provision granted subject to exclusive application of income and prescribed investment conditions for specified years.
Notification grants tax-exempt status to The Church of South India Trust Association, Madras for specified assessment years subject to conditions: income must be applied or accumulated exclusively for the trust's objects; investments or deposits of funds are allowed only in prescribed forms except for certain tangible voluntary contributions; and profits and gains of business are excluded from the notification unless the business is incidental to the objectives and separate books of account are maintained.

Tax treaty succession: Russia succeeds to USSR bilateral tax and shipping agreements, with India recognizing continuity and directing implementation.
Central Government directs domestic implementation of specified bilateral instruments by recognizing the Russian Federation as successor to the USSR, construing references to "USSR" or equivalent terms in those instruments as references to the "Russian Federation," and giving effect to all provisions of the listed Merchant Shipping agreement and the Agreement for the Avoidance of Double Taxation within India.

Tax exemption for air transport income: reciprocal relief for international air carriers and related employee remuneration.
Income and profits of an air transport enterprise of one Contracting State from operation of air transport in international traffic are exempt from tax in the other Contracting State; this exemption covers participation in pools or joint operations and includes rentals or leases of aircraft and ground equipment, training, management services and interest directly connected with aircraft operations. Salaries and allied remuneration of employees who belong to an air transport enterprise of one State and are citizens of the other State are also exempt from all taxes and specified social payments. The Agreement prescribes definitions, notification of tax law changes, a mutual agreement procedure for interpretive difficulties, entry into force following diplomatic exchange, and termination by advance notice.

Exchange rate determination for export goods sets formal conversion rates to guide customs valuation and export compliance.
Determination of exchange rates for specified foreign currencies for conversion into Indian currency and vice versa for export goods, fixing the rate of exchange for each listed currency to be applied by customs and exporters for valuation and compliance, effective from the first day of January following issuance.

Exchange rate determination for imported goods: prescribed currency conversion rates govern stamp duty and customs valuation.
The Central Government prescribes fixed exchange rates for specified foreign currencies for calculating stamp duty under the Indian Stamp Act and for determinations under section 14 of the Customs Act insofar as they relate to imported goods; a Schedule lists each currency with its corresponding conversion figure to be applied, superseding the prior notification and taking effect from the stated commencement date.

Amendment to Customs notification adds new schedule entry under Customs Act and Finance Act authority.
The Central Government, invoking section 25(1) of the Customs Act, 1962 read with section 111(4) of the Finance Act, 1992, amends Notification No. 190/92-Customs by inserting after Serial No. 323 a new Serial No. 324 and its entry, adding a reference to Notification No. 307/92-Customs dated 28th December, 1992 into the Schedule.

Customs duty exemption for EPCG capital goods: concessional duty rates conditioned on fulfilment and verification of export obligations.
Concessional customs treatment for capital goods imported under the EPCG Scheme reduces basic duty to specified ad valorem rates and exempts additional duty, conditional on a valid EPCG licence, licence particulars, production of the licence at clearance, bond execution certificate from the Licensing Authority, and a customs declaration to pay duty if conditions fail. The Table sets 25% duty for an export obligation of three times CIF over four years and 15% duty for four times CIF over five years for SKD/CKD capital goods, with provisions for limited spare parts and conditional extensions or condonation subject to Public Notice.

Capital goods import conditions require presentation of EPCG licence at clearance and set definition and valuation rules.
The amendment requires that imported capital goods be covered by a valid EPCG licence produced for debit at customs clearance; defines "Capital Goods" to include plant, machinery, accessories, packing and testing equipment, R&D equipment, refractories, power generating sets, and spare parts limited to 10% of the CIF value; and provides that for second hand capital goods the CIF value shall be the CIF value of corresponding new capital goods as determined by the licensing authority.

Auxiliary duty amendment: schedule updated to add new customs notification entry altering exemption framework under Finance Act authority.
The Central Government, under subsection (1) of section 111 of the Finance Act, 1992, amends Notification No. 190/92-Customs by inserting after Sl. No. 322 a new schedule entry designated Sl. No. 323, which records Notification No. 304/92-Customs dated 24th December, 1992, thereby adding that notification to the Schedule of miscellaneous exemption notifications under the customs tariff.

Customs exemption for wet-leased aeroplanes limits duty by export-timing, subject to bond and re-export obligation.
Exemption from customs duty is granted for aeroplanes under Heading No. 88.02 imported on a wet lease basis and not intended to be registered in India, subject to evidence at clearance and a bond that the aircraft will not be registered, will be re-exported within the declared period, and that the importer will pay the difference between full import duty and duty paid if conditions are breached; duty payable is determined by a Table prescribing percentages of import duty according to the expected period before export.

Auxiliary duty amendment inserts a new schedule entry, modifying the customs exemption framework under delegated tax powers.
The Central Government, invoking powers under the Customs Act and the Finance Act, amends Notification No.190/92-Customs by inserting a new Schedule entry-S. No. 322-referring to Notification No.302-Customs (dated 24th December, 1992), thereby modifying the Schedule to that notification in relation to auxiliary duty/exemption provisions.

Customs exemption: ammonia and cyclohexane imported for caprolactam manufacture limited to a capped ad valorem duty rate.
Exemption removes customs duty on ammonia and cyclohexane in Chapters 28 or 29 when imported for manufacture of caprolactam, limiting duty payable to an amount not exceeding the duty calculated at a specified ad valorem rate, thereby providing targeted tariff relief for those qualifying inputs.

Regulation of merchant bankers establishes a statutory registration and compliance framework under securities law.
Regulation of merchant bankers is established by rules made under Section 30 creating a statutory framework for registration, licensing, eligibility criteria, conditions on practice, compliance obligations, disclosure requirements, and supervisory authority; the regulations were issued with prior central approval as the formal instrument governing merchant banking services.

Registration requirement: merchant bankers must hold a SEBI certificate and meet conditions for lawful issue management activity.
Persons engaged in issue management must hold a certificate of registration from the Board; those acting without registration are prohibited except where a prior entrant has applied for registration and awaits disposal. Grant or renewal of a certificate is subject to conditions including prior permission for status changes, payment of fees, one month investor grievance redressal and reporting to the Board, and compliance with rules and regulations.

Customs exemption amendment adds toilet soap to notified exempt goods under Customs Act authority framework
Central Government, under section 25(1) of the Customs Act, 1962, amends Notification No. 203/90-Cus. by inserting, after serial No. 103 in the Table to that notification, a new serial number 104 with the entry "Toilet Soap", via Notification No. 301/92 dated 11-12-1992.

Appointment of customs port expanded to permit unloading of wheat alongside fertilisers and dead burnt magnesite.
The Central Government amends Notification No. 43/87-Customs by substituting the phrase "for unloading of fertilisers and dead burnt magnesite" with "for unloading of fertilisers, dead burnt magnesite and wheat," thereby authorising the appointed customs port to accept wheat for unloading; the amendment is made under the powers of the Customs Act, 1962.

Inland Container Depot designation enables specialized customs handling of diamonds, precious stones and jewellery for import unloading and export loading.
The Central Government designates Surat Hira Bourse at Diamond Industrial Park, Sachin, Surat as an Inland Container Depot under clause (aa) of section 7 of the Customs Act, 1962 for unloading imported goods and loading export goods, limited to diamonds, precious and semi precious stones, pearls, jewellery of precious metals, industrial diamonds (natural and synthetic) including powders, and synthetic stones.

Exemption under section 35AC: specified corporate projects qualify for tax relief for rural school and drinking-water schemes.
Exemption under section 35AC designates Jindal Aluminium Ltd.'s projects as eligible: construction of rooms/buildings for village schools in 21 villages (estimated cost fifty lakhs) and borewells/tubewells for drinking water in 28 villages (estimated cost twenty-four lakhs). The notification names the company, specifies the projects and estimated costs, enumerates beneficiary villages in an annexure, and limits the exemptions to the assessment years expressly stated, with later amendments adjusting the assessment-year applicability.

Exemption under section 35AC: specified institutions' projects approved as eligible for tax exemption for limited assessment years.
The Central Government, under the statutory exemption provision of the Income-tax Act, approves specified charitable and development institutions and specifies particular projects and schemes carried out by them as eligible projects for tax exemption, identifying project types and estimated costs. The notification lists eight institutions with approved projects such as hostels, schools, medical and rehabilitation centres, and training or rural development initiatives, and limits the approval to a defined set of assessment years commencing from assessment year 1993-94, noting ensuing amendments to the notification.