Tax exemption for specified educational board income expands to fee and interest receipts, subject to non-commercial and filing conditions.
Notification under clause (46) of section 10 grants tax exemption to the Central Board of Secondary Education, Delhi for specified income heads-examination fees; affiliation fees; registration, sports, training and academic receipts; receipts from Board projects/programmes; interest on deposits/securities/loans and income tax refunds; and interest on those receipts-subject to conditions prohibiting commercial activity, maintaining unchanged activities and income nature, and specified return filing for the notified financial years.

Tax exemption for specified income limits relief to fees, subscriptions and interest while imposing non commercial and filing conditions.
Notification grants tax exemption under clause (46) of section 10 to Maharashtra State Pharmacy Council for specified income limited to fees and subscriptions and interest income, subject to conditions that it shall not engage in commercial activity, the activities and nature of specified income remain unchanged, and it files income-tax returns as required under clause (g) of sub-section (4C) of section 139; the notification is given retrospective effect for the financial years listed and includes a certification that no person is adversely affected by retrospective operation.

Tax exemption for specified public receipts conditioned on noncommercial activity and mandated return filing.
Notification exempts specified receipts of The Commissioners for the Rabindra Setu under section 10(46), covering municipal and railway tax proceeds, rental and maintenance and related miscellaneous receipts, and interest on bank deposits, subject to conditions that the body refrain from commercial activity, keep activities and income unchanged during the relevant years, and comply with the prescribed income tax return filing requirement.

Tax exemption under section 10(46A) grants Lucknow Development Authority relief, effective from assessment year 2024-25.
Notification under section 10(46A)(b) designates Lucknow Development Authority (PAN AAALL0016F) as an authority for clause (46A), effective from assessment year 2024-25, conditional on its continued constitution under the Uttar Pradesh Urban Planning and Development Act, 1973 and its continuance in having one or more purposes specified in sub-clause (a) of clause (46A). The explanatory memorandum certifies that no person is adversely affected by giving retrospective effect to the notification.

Disclosure Document requirement: portfolio managers must provide Board-specified disclosure and Form C before client agreement.
Regulation 22(3) requires the portfolio manager to provide the Disclosure Document in the Board-specified format along with a certificate in Form C as specified in Schedule I, prior to entering into the client agreement; Regulation 20 now references Schedule IV and Schedule V is deleted.

Valuation and disclosure regime updated for InvITs, imposing periodic valuation and reporting obligations where borrowings exceed threshold.
Amendments redefine public for InvITs, adjust minimum private placement investment thresholds, and revise valuation and disclosure timelines: full valuations at financial year end, half year valuations to be submitted with quarterly results for the September quarter, and quarterly valuations required where consolidated borrowings and deferred payments exceed a specified threshold; valuation reports must be submitted simultaneously to the designated stock exchange(s) and the trustee and reporting timelines are made subject to times specified by the Board.

Definition of public for REITs reshaped, valuation and reporting timelines aligned with financial-result filings and disclosure tightened.
Amendments redefine public to exclude related parties, sponsors and manager while allowing qualified institutional buyers to qualify as public in offers; mandate that full annual and specified half-year valuation reports be submitted by the manager to designated stock exchange(s) alongside annual or specified quarterly financial results, require simultaneous submission of certain valuation reports to trustees and stock exchanges, and permit holdcos with negative net distributable cash flow to adjust against SPV cash flows subject to Board-specified disclosure requirements.

Delisting of public sector undertakings: fixed-price process with valuation-based floor and mandatory premium over valuation.
Delisting of public sector undertakings (excluding banks, NBFCs and insurers) must be by fixed-price process, approved by shareholders via special resolution through postal ballot or e-voting, with an explanatory statement. The acquirer together with other public sector undertakings must meet the prescribed shareholding threshold. The floor price is the highest of recent volume weighted acquisition price, highest recent acquisition price, and a joint valuation price from two independent registered valuers, and the delisting price must include a mandatory premium over that floor. Provisions govern transfer and holding of unpaid amounts and their eventual transfer to investor protection funds where a voluntary strike-off occurs within the specified post-delisting window.

Investor protection fund funding source expanded: delisting-proceeds transfers now formally included as eligible contributions to the fund.
An amendment adds an explicit eligible-transfer provision to the Investor Protection and Education Fund to include monies transferred under the delisting framework, and updates cross-references in the Fund's eligibility and proviso provisions so the new transfer clause is cited alongside existing clauses; the amendment takes effect on publication in the Official Gazette.

Renewal of recognition for a clearing corporation is granted, subject to ongoing compliance with SEBI conditions and oversight.
Renewal of recognition is granted to National Commodity Clearing Limited as a clearing corporation for a fixed three-year period commencing in September 2025 under Regulation 12, on the basis that renewal is in the interest of trade, the securities market and the public, and is subject to the condition that the Clearing Corporation shall comply with conditions specified by the Securities and Exchange Board of India from time to time and any further conditions that may be prescribed.

Computation of minimum investment updated: temporal references extended to later assessment years for exempt income rules.
Amends rule 2DCA of the Income tax Rules, 1962 to revise temporal references used in computing minimum investment and exempt income under clause (23FE) of section 10 by substituting earlier terminal years with later ones in sub rules (2), (3) and (4) and by updating calendar year references in Explanation 1 clauses (d), (e) and the proviso to clause (h); the amendment is effective on publication.

Tariff value fixation updated for edible oils, brass scrap, precious metals and areca nut; new values effective end of August.
The Central Board of Indirect Taxes & Customs substitutes revised TABLE 1, TABLE 2 and TABLE 3 into the principal non tariff notification to set tariff values for specified edible oils, brass scrap, designated categories of gold and silver (with scope and exclusions), and areca nut; these revised benchmark US dollar tariff values apply for import valuation purposes and take effect from 30th August, 2025.

Customs exemption extension for raw cotton deadline extended, altering the terminal date of the existing notification.
Central Government, exercising powers under sub-section (1) of section 25 of the Customs Act, 1962 read with section 124 of the Finance Act, 2021, amends an earlier notification by substituting the terminal date in paragraph 2 to extend the operative period of the customs duty exemption on raw cotton.

Export Obligation period change extends EO for inputs under mandatory QCOs, aligning EO duration with Handbook provisions.
Amendment to Para 2.03(A)(i)(g) removes the 180-day EO restriction for inputs subject to mandatory Quality Control Orders and prescribes that the Export Obligation period for such Advance Authorisations shall henceforth follow the timeline specified in the Handbook of Procedures, thereby extending the EO applicable to those products from the previous six-month limit to the Handbook-prescribed duration.

Appointment of NFRA officers: Central Government names Chairperson and Members with fixed tenure and service rules.
Central Government appoints a Chairperson and three Full-Time Members of the National Financial Reporting Authority, effective from their date of entry into office, for three years or until attaining the age of sixty-five years, whichever is earlier; their terms and conditions of service are governed by the National Financial Reporting Authority (Manner of Appointment and other Terms and Conditions of Service of Chairperson and Members) Rules, 2018.

Scientific research approval under Section 35(1)(iia) extends tax recognition to the company's R&D activities for specified years.
Approval is accorded to M/S IIT Madras Research Park for Scientific Research under the tax approval mechanism established by Section 35(1)(iia) read with the corresponding rule, recognising the company's research activities as qualifying for the tax provision and setting a time-bound period of applicability, with certification that retrospective effect does not adversely affect any person.

Companies (Incorporation) Second Amendment Rules 2025 substitute Form RD 1, mandating detailed application data, attachments, and declarations.
The amendment replaces Form RD-1 in the Companies (Incorporation) Rules, 2014, effective 15 September 2025, and requires applicants to file structured applications to the Central Government (Regional Director) for specified purposes (change of financial year, name rectification, conversion, or scheme approval). The form mandates identity and contact data, statutory basis, resolution details, creditor particulars, prior filing history, and attachments (board/special resolutions, advertisement, scheme, authorization), plus Rule 41 declarations and digital signature by authorized signatories.

Drawback rate adjustment for gold and silver jewellery updated, substituting earlier AIR figures with higher rates.
Amends the Customs notification setting drawback rates for gold and silver jewellery by substituting revised figures in the Schedule for specified Chapter 71 tariff entries. The amendment directs replacement of the prior column (4) amounts with new amounts for three listed tariff items, thereby modifying the applicable drawback amounts payable on export of the concerned articles under the existing drawback rules.

Minimum Export Price for natural honey reduced, lowering export threshold and effective immediately until policy period end.
The notification amends the Minimum Export Price (MEP) for natural honey under the export policy, reducing the MEP and making the revised MEP effective immediately until the end of the stated policy period; the change is effected under powers granted by the Foreign Trade (Development & Regulation) Act and amends an earlier DGFT notification.

Virgin multi-layer paper board imports now require PIMS registration and face a CIF minimum import price of INR 67,220/MT.
Imports under HS codes 48059100, 48059200, 48059300, 48109200 and 48109900 are free subject to Compulsory Registration under the Paper Import Monitoring System (PIMS); however, import of Virgin Multi-layer Paper Board (VPB) with CIF value below INR 67,220/MT is restricted and effectively subject to a Minimum Import Price (MIP) of INR 67,220/MT on CIF until 31 March 2026.