Charitable exemption recognition conditioned on exclusive application of income and prescribed investment and accounting limits.
Notification recognizes Shri Durgiana Committee for specified assessment years subject to conditions: income must be applied or accumulated solely for its objects; funds may not be invested or deposited except in the prescribed forms for charitable trusts (voluntary contributions held as jewellery, furniture, etc., excepted); and income from business is excluded unless the business is incidental to the objectives and separate books of account are maintained.

Tax exemption under section 10(23C)(v) notified for Society subject to exclusive application of income and investment limits.
Notification grants section 10(23C)(v) status to the Society for specified assessment years, conditional on applying income wholly and exclusively to its objects, limiting investment or deposit of funds to forms permitted for charitable institutions (excluding certain voluntary contributions held as tangible assets), and excluding business income unless the business is incidental and accounted for in separate books.

Notification under section 10(23C)(v): exemption granted to a society subject to application and investment conditions.
Notification declares The Institute of the Franciscan Missionaries of Mary, Society No. 13, Nilgiris entitled to the specified charitable exemption for assessment years 1990-91 to 1992-93, subject to conditions that income be applied or accumulated exclusively for its objects; investments and deposits (other than certain voluntary contributions in kind) be limited to prescribed modes; and business income is excluded unless incidental to objectives with separate books maintained.

Notification under section 10(23C)(v): temple income recognised subject to exclusive application, permitted investments, and business accounting conditions.
Notification under section 10(23C)(v) recognizes Arulmigu Kallalagar Thirukkoil for the provision on condition that its income is applied or accumulated wholly and exclusively to its objects; its funds (apart from specified voluntary contributions retained in kind) are invested only in modes permitted for charitable application of income; and the notification does not cover business profits unless the business is incidental to the objects and maintained in separate books.

Charitable recognition subject to exclusive application of income and prescribed investment and business restrictions.
Notification under 10(23C)(v) notifies Idara Dawatul Quran, Bombay for specified assessment years on conditions: apply income wholly and exclusively to its objects or accumulate for such application; restrict investments or deposits to forms specified in sub section 11 except voluntary contributions maintained as jewellery, furniture, etc.; and exclude business income unless incidental to objectives with separate books maintained for such business.

Customs amendment specifying exemptible electronic industry inputs, enumerating materials and components covered under the notification.
Amendment substitutes S. No. 13 in List B of Notification No. 88/94 Cus to enumerate exemptible inputs for the electronic industry: alpha cellulose paper/cotton paper; electrical grade craft paper; tung oil; volan/silane treated glass fabric/cloth; copper clad laminates (phenolic, paper phenolic, glass epoxy); printed circuit boards; silane; glass filament yarn; and silane treated glass cloth/fabric for use in copper clad laminates.

Exemption extension for inputs used in manufacture of infantry combat vehicle armaments continues, amending earlier customs notification.
The Central Government, exercising powers under the Customs Act, amends Notification No. 16/89-Customs by substituting the earlier terminal date with a later date in paragraph 2, thereby extending the exemption for inputs used in the manufacture of armaments for infantry combat vehicles as specified in Notification No. 201/94-Cus., dated 29-12-1994.

Transhipment permission criteria require consideration of goods' nature, import restrictions, and other relevant circumstances.
The substituted proviso to regulation 3 requires the Collector, when considering an application for permission to tranship imported goods, to have regard to: (i) the nature of the imported goods to be transhipped; (ii) the restrictions on import of goods into the country; and (iii) any other relevant circumstance.

Exchange rate determination for exports: prescribed conversion rates for listed foreign currencies, superseding earlier notification.
The Central Government, under the Customs Act authority, prescribes specific rates of exchange for conversion of listed foreign currencies to Indian rupees for export goods, superseding the prior notification; operative rates are set out in Schedule I (per one unit) and Schedule II (per 100 units) and apply for customs and related export purposes from the notified commencement date.

Exchange rate determination for imported goods prescribed, affecting customs valuation and stamp duty calculations from notified schedule.
Prescribes fixed exchange rates for conversion between specified foreign currencies and Indian rupees for calculating stamp duty and for customs determinations relating to imported goods, invoking statutory authority under the Indian Stamp Act and the Customs Act and superseding the prior notification; two appended schedules set the per-unit and per-100-unit rates to be used for those regulatory conversion purposes.

Officer of Customs designation updated: Assistant Collector, Preventive Unit, Bikaner specified by notification amendment.
The Central Government, exercising powers under the Customs Act, amends Notification No. 13/89-Customs (N.T.) by substituting in the Table against serial number 3 the entry in column (3) with the designation "Assistant Collector, Preventive Unit, Bikaner", thereby specifying that the Assistant Collector, Preventive Unit, Bikaner is the designated Officer of Customs for that serial entry.

Integrated guided missile programme import exemptions expanded to add entities eligible for customs duty relief under statutory power.
Amendment expands import exemptions under the Integrated Guided Missile Development Programme by adding specified corporate and institutional entities to the Table of beneficiaries in the existing customs notification, authorised under sub section (1) of section 25 of the Customs Act, thereby clarifying which organisations qualify for import duty relief under the earlier exemption regime.

Specified taxable interest for HUDCO Bonds payable half yearly under section 80L for designated Series III issues.
Central Government specifies a 14 per cent. (taxable) interest rate payable half yearly on HUDCO Bonds (Series III) issued by the Housing and Urban Development Corporation Limited for the purposes of clause (ii) of sub section (1) of section 80L of the Income tax Act, 1961, identifying the bonds by distinctive numbers and stating their face value and aggregate issuance.

Tax-free HUDCO bond specification: benefit contingent on holder registration with issuer under income-tax exemption provision.
Central Government specifies 10.5 per cent. tax-free HUDCO Bonds (Series III) issued by the Housing and Urban Development Corporation Limited as eligible for the exemption under item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, identifying bonds by distinctive serial number ranges and face value. The exemption is admissible only if the holder registers his or her name and the holding with the Corporation.

Transferability endorsement for writing instruments licences allowed on fulfilment of export obligation, limited to manufacturers.
Amendment permits endorsement of transferability or disposal of materials under value-based advance licences issued for the export of writing instruments (including gift sets and refills/nibs) on fulfilment of export obligation only in favour of manufacturers of writing instruments, and expands a proviso in the Explanation to include all kinds of writing instruments alongside electronic goods.

Ballot-based election procedure requires positive votes only, single ballot and no proxy voting for council appointments.
Article 75 prescribes a ballot-based procedure for appointment of Council of Management members: voting is limited to positive votes only, with no negative voting or proxy votes permitted; one ballot will list all candidates; each member may cast no more votes than the number of vacancies; candidates receiving the highest number of valid votes will be declared elected, and where candidates are equal to or fewer than vacancies they will be declared elected without a poll.

Committee appointments: National Committee for Promotion of Social and Economic Welfare reconstituted, appointing chair and members for a fixed term.
The Central Government reconstituted the National Committee for Promotion of Social and Economic Welfare under the authority of section 35AC read with rule 11G, appointing a Chairman and fourteen members for a prescribed fixed term and publicly listing each appointee with their professional designation to satisfy the statutory governance and administrative notification requirements for the committee.

Tax-law specification recognizes Shriram Mutual Fund as a specified mutual fund, enabling prescribed income-tax treatment.
Central Government specifies Shriram Mutual Fund under clause (23D) of section 10 of the Income-tax Act. The Fund was set up by a trust deed dated 27 May 1994 by Shriram Investments Limited and registered under rule 9 of the SEBI Mutual Funds (Regulations), 1993, with registration code MF/017/94/4 dated 21 November 1994; specification effected by Notification No. 924(E) dated 22 December 1994.

Excise amendment: revised exemption scope for paper and paperboard, excluding plastic impregnated sheets and decorative laminates.
Amendment substitutes the column (3) entry against S. No. 6 in the Table to Notification No. 20/94 Central Excises to exempt all goods except: (a) sheets of paper or paperboard impregnated, coated or covered with plastics (including specified thermoset resins or chemical formulations), and (b) products known as decorative laminates, effected under the powers of sub section (1) of section 5A of the Central Excises and Salt Act, 1944.

Listing requirements extend to corporates constituted by statute, with public notice and consultation before finalisation.
The draft amends the Securities Contracts (Regulation) Rules, 1957 by adding that listing requirements prescribed by those rules shall, so far as applicable, also apply to bodies corporate constituted by an Act of Parliament or any State legislature. The amendment will be titled the Securities Contracts (Regulation) Amendment Rules, 1994 and will take effect upon final publication in the Official Gazette. The draft is published with a forty-five day period for objections and suggestions to be sent to the Secretary, Department of Economic Affairs for consideration by the Central Government.