Corrigendum to foreign trade notification updates official file reference and reclassifies provision to Part II Section 3 subsection (ii).
A corrigendum to Notification No. 51/2024-25 amends the official citation and placement of a policy provision, directing that the prior file number 'F.No. M-5012/300/2002/PC-2(A)./E-1657' and 'Part-I, Section 1' be read instead as the replacement S.O. designation and as 'Part-II, Section 3, Sub-section (ii)'; the correction is issued under the authority of the Foreign Trade (Development and Regulation) Act and promulgated by the Directorate General of Foreign Trade.

Immovable property: corrigendum limits "any property" to "any immovable property" in a GST notification.
Corrigendum replaces "any property" with "any immovable property" in the table entry at serial 5AB, column (2) of G.O.Ms.No.266, Revenue (Commercial Taxes) Department, dated 7th November, 2024, as published in the Andhra Pradesh Gazette, thereby confining the scope of the provision to immovable property.

Offshore derivative instruments and over-the-counter derivatives: new rules expand FPI inclusion and definitions in tax rules.
The amendment to rule 21AK inserts "over-the-counter derivatives" after "offshore derivative instruments", adds a "Foreign Portfolio Investor being a unit of an International Financial Services Centre" into sub-rule (1)(b)(i), inserts the Foreign Portfolio Investor after "offshore banking unit" in sub-rule (2), and revises the Explanation by rewording clause (v), adding "and" to clause (vi), and inserting clause (vii) to define "Foreign Portfolio Investor" as a person registered under the Foreign Portfolio Investors Regulations, 2019.

Corrigendum to Gazette Notification: replaces incorrect statutory order reference to clarify official S.O. citation in Foreign Trade Policy record.
Corrigendum to Gazette Notification No. 40/2024-25 amends the earlier notification by substituting the cited statutory order reference: the previous 'S.O. 7624(E)' is to be read as 'S.O. 5068(E)', the sole operative correction made under powers conferred by the Foreign Trade (Development and Regulation) Act, 1992 and relevant Foreign Trade Policy provisions.

Limit on tax audit assignments set for practising chartered accountants, with per-partner aggregation and specified exclusions from reckoning.
Imposes a binding cap on the number of tax audit assignments a practising Chartered Accountant may accept and sign in a financial year, applied to individuals and per partner in firms with aggregation across multiple firms or individual acceptances; treats head office and branch audits of the same entity as one assignment, excludes specified presumptive-tax-related audits and revised reports from reckoning, excludes part-time practising partners from firm counts, requires maintenance of Council-prescribed records, and empowers the Council to issue clarifications, effective from the stated commencement date.

Third-party fund management services require authorised FMEs to retain compliance, investor protection, supervision and liability for managed schemes.
Third-party fund management services permit an authorised Registered FME to launch and manage Restricted Schemes for an eligible third-party fund manager. The FME must maintain enhanced compliance and risk-management systems, appoint a dedicated Principal Officer for each scheme, meet an additional net-worth requirement, and make prominent investor disclosures on the third-party, responsibilities and conflicts. The FME must conduct due diligence, monitor the third-party, preserve termination rights, ensure fund segregation, and remains liable to schemes and investors for all obligations and for the third-party's acts and omissions.

Anti dumping duty scope broadened by corrigendum to replace specific country entries with inclusive territorial wording.
Corrigendum corrects the TABLE of Notification No.18/2025 Customs (ADD) by replacing country specific references in column (5) for S.No.1 and S.No.4 with the inclusive wording "Any country including [country name]", broadening the territorial description without changing other provisions.

Scientific Research approval granted: IQRAA Hospital recognised as Other Institution under section 35 for tax research purposes.
Approval is granted to IQRAA International Hospital And Research Centre, under J D T Islam Orphanage Committee (PAN noted), as an Other Institution for Scientific Research under clause (ii) of sub section (1) of section 35 of the Income tax Act read with the Income tax Rules, with the notification specifying applicability across a stated sequence of assessment years and recording that retrospective effect does not adversely affect any person.

Recognition as Social Science or Statistical Research institution secures research-related tax treatment for a limited assessment-year period.
Gitarthganga, Ahmedabad is approved as an institution engaged in Social Science or Statistical Research and classified as an Other Institution for purposes of research-related provisions of the Income-tax Act and applicable rules; the approval is time-bound and applies for a defined set of assessment years, and the issuing authority certifies no adverse effect from retrospective operation.

Tax exemption for welfare board: specified cess, fees and interest exempted subject to non commercial and filing conditions.
Notification under clause (46) of section 10 exempts Puducherry Building and Other Construction Workers Welfare Board from tax on specified income-cess received, registration and renewal fees, and interest on bank deposits-subject to conditions that the Board shall not engage in commercial activity, that its activities and nature of specified income remain unchanged, and that it files returns as required by the proviso to clause (g) of sub section (4C) of section 139. The exemption is applied retrospectively to specified earlier financial years and prospectively to subsequent years, subject to those conditions.

Income tax exemption for welfare board's specified receipts permitted subject to non-commercial and filing conditions
Notification exempts specified receipts of the Andhra Pradesh Building and Other Construction Workers Welfare Board under clause (46) of section 10, namely cess, registration and renewal fees from building and other construction workers, and interest on bank deposits. The exemption is subject to conditions that the Board shall not engage in commercial activity, the activities and nature of the specified income remain unchanged, and the Board files returns as required by clause (g) of sub section (4C) of section 139. The notification is given retrospective effect for the stated assessment years.

Income tax exemption under section 10(46A) applies to specified urban development authorities subject to purpose and constitution conditions.
Notification grants an income tax exemption to Moradabad Development Authority, an authority constituted under the Uttar Pradesh Urban Planning & Development Act, 1973, on the condition that it continues to carry one or more of the specified purposes required by the relevant provision; the notification is made effective from the stated assessment year and the memorandum certifies that no person is adversely affected by retrospective effect.

Tax exemption under section 10(46A) granted to Greater Ludhiana Area Development Authority, effective from the specified assessment year.
Notification designates Greater Ludhiana Area Development Authority as eligible for the tax exemption under clause (46A) of section 10, effective from the assessment year 2024-2025, conditional on its continuing constitution under the Punjab Regional and Town Planning and Development Act, 1995 and its continued fulfillment of one or more purposes specified in sub clause (a) of clause (46A); explanatory memorandum certifies no person is adversely affected by retrospective effect.

Public consultation governs regulatory rulemaking, with written exceptions, transparency requirements, periodic review, and preservation of earlier instruments.
Public consultation governs the making and amendment of regulations and specified subsidiary instructions that impose requirements or explain the meaning, scope or intent of provisions. Consultation papers must disclose the regulatory problem, objectives, enabling basis, draft measures and comment process. Comments are ordinarily invited for at least 21 calendar days, subject to recorded exceptions by the Chairperson. Comment summaries and responses must generally be published before notification or issuance, while substantive changes may require written reasons or fresh consultation. Regulations are ordinarily reviewed every five years, and specified urgent, procedural, coordinated, market-integrity, national-security and international-obligation matters are excluded.

Customs exemption removal: omission of 'horses for polo' from the notification, revoking that import exemption under section 25 authority.
Exercising the power under section 25 of the Customs Act, 1962, Notification No. 34/2025 Customs omits S. No. 10A and the related entries from the TABLE of Notification No. 146/94 Customs, thereby removing the exemption entry for "Horses for polo" from the principal customs exemption notification.

Exemption from TDS provisions: payments to ICRISAT exempted, subject to UN privileges and immunities conditions.
Central Government excludes the application of TDS provisions in Chapter XVII to payments received by the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT), subject to the conditions in the United Nations (Privileges and Immunities) Act, 1947 read with the Ministry of External Affairs notification dated 28th October, 1972, and effective from publication in the Official Gazette.

Import exemption for polo horses subject to eligibility, Sports Ministry certification and DGFT licensing conditions
Provides a customs exemption for Horses for polo (HS 0101 29 10) when imported by specified military, police, recognized civilian teams and qualifying individual IPA members; requires a certificate from a Deputy Secretary-ranked officer in the Department of Youth Affairs and Sports confirming importer, goods details and compliance with prescribed quantity and periodicity limits; and makes imports subject to Directorate General of Foreign Trade licensing conditions.

Anti-dumping duty continuation on Aniline imports from China PR to prevent dumped imports and protect domestic industry.
The Central Government, relying on the designated authority's continuation-review findings under section 9A and applicable anti-dumping rules, imposes anti-dumping duty on Aniline originating in or exported from China PR as set out in the notification Table. The Table specifies tariff classification, product description, origin and export countries, producer combinations, duty amounts per unit of measurement and currency. The duty is leviable for a specified period from Gazette publication and payable in Indian currency, with the applicable exchange rate determined by Government notification under section 14 of the Customs Act and the relevant date being the bill-of-entry presentation date.

Income exemption under section 10(46): specified non commercial fees and grants exempted subject to non commercial, unchanged activity and filing conditions.
Notification under Section 10(46) exempts specified incomes of the Andhra Pradesh Pollution Control Board - including consent fees, analysis and survey fees, reimbursements for national monitoring programmes, biomedical authorization fees, cess receipts, government grants, RTI fees, non profit sales of law books, interest on staff loans, miscellaneous receipts, and related interest - provided the Board does not engage in commercial activity, the nature of activities and incomes remain unchanged, and the Board files returns as required by the Act.

HS code correction clarifies classification of unbleached jute fabrics for import port restriction under FTP.
The corrigendum corrects the HS classification for unbleached woven fabrics of jute or other textile bast fibres: HS Code 530010 in Para 19(2)(ix) of the General Notes to ITC (HS), 2022 Schedule 1 (Import Policy) shall be read as HS Code 531010, effecting a textual amendment to Notification No. 21/2025-26 for the purpose of clarifying import port restriction application.