Approval under Section 35(1)(ii) for research institutions requires separate accounts and audited reports or faces withdrawal.
Dalmia Institute of Scientific and Industrial Research, Rajgangpur is approved as an other institution for purposes of clause (ii) of sub section (1) of section 35 effective 1 4 2003, subject to conditions: funds must be used for scientific research conducted by faculty or enrolled students; separate books of account must be maintained for research receipts and applications; an auditor's report by an authorised accountant and a certified statement of donations applied to research must be furnished with the income tax return; failure to maintain accounts, furnish reports, or to carry on genuine research, or other non compliance, may lead to withdrawal of approval.

Approval under section 35(1)(ii) permits donations for scientific research subject to auditing, separate accounts, and compliance conditions.
Approval under section 35(1)(ii) is granted to the Trust in the category of 'other institution' partly engaged in research, conditional on using receipts for scientific research, conducting research via faculty or enrolled students, maintaining separate books of account for research funds, obtaining an audit by a qualified accountant, furnishing the audit report by the income-tax return due date, and providing a certified statement of donations and amounts applied to research.

Zero coupon bond designation enables specified ten-year NHB bonds to qualify under the Income-tax Act, subject to regulatory conditions.
The Central Government designates the ten-year zero coupon bond of National Housing Bank as specified under clause 48 of section 2 of the Income-tax Act, identifying its ten-year term, issuance by March 31, 2009, ten thousand rupees maturity per bond, discount set by NHB at issue, and issuance of thirty lakh bonds, subject to compliance with specified sub-rules and clauses of rule 8B of the Income-tax Rules, 1962.

Research approval under section 35: tax-deduction eligibility for donations to approved institutions, subject to audit and reporting conditions.
Approval is granted to International Institute of Biotechnology and Toxicology as an institution partly engaged in research for purposes of section 35(1)(ii) read with Rules 5C and 5E, conditional on using received sums exclusively for scientific research carried out by faculty or enrolled students. The institute must maintain separate books of account and a separate statement of donations and research expenditure, have those books audited by a qualified accountant, and furnish the audit report and certified donation statement to the tax authorities by the income-tax return due date; approval may be withdrawn for specified failures or noncompliance.

Avoidance of double taxation: treaty allocates taxing rights and limits source state withholding while providing anti abuse safeguards.
Treaty provides a reciprocal system to avoid double taxation and prevent fiscal evasion between India and Iceland by defining covered taxes and persons, allocating taxing rights (residence vs source), and prescribing substantive rules for permanent establishments, business profits attribution, and specified income types including dividends, interest, royalties and capital gains. It prescribes withholding limits, credit/exemption relief mechanisms, a limitation of benefits regime with anti abuse safeguards, and administrative cooperation including mutual agreement, exchange of information and assistance in tax collection, with Protocol clarifications and entry into force and termination rules.

Section 36(1)(xii) notification: deductibility for Oil Industry Development Board allowed subject to specified conditions and accounts.
Section 36(1)(xii) notification designates the Oil Industry Development Board under the Oil Industry (Development) Act as a notified institution for deductible expenditures, subject to conditions: expenditures must be for authorised objects, not capital in nature, not eligible under any other Income-tax provision, and must be maintained in a separate account; the notification is prospective from 1 April and does not affect ongoing proceedings for prior assessment years.

Audit expense guidelines require hourly remuneration ranges, panel maintenance, time sheets, and commissioner oversight for audits.
Rule 14B requires Chief Commissioners to maintain panels of eligible accountants for audits directed by assessing officers, mandates that audit periods be specified in hours, and requires accountants to submit time-sheets with their bills to the Chief Commissioner or Commissioner. The rule prescribes hourly remuneration ranges covering accountants and their assistants and obliges Commissioner oversight to ensure billed hours are commensurate with the size and quality of the audit report.

Research-expenditure tax approval requires utilization for scientific research, faculty-led projects, and audited reporting compliance.
Approval under section 35(1)(ii) is subject to conditions: payments must be utilized for scientific research conducted by faculty or enrolled students; separate books and a statement of donations must be maintained; and a qualified accountant must audit and file the audit report and certified statement by the return due date. The Central Government may withdraw approval for failures in accounting, reporting, genuine research activity, or compliance with the governing provisions and rules.

Section 35(1)(ii) approval requires institutions to maintain separate audited research accounts and obtain regulatory clearance to remain valid.
Approval under Section 35(1)(ii) was granted to St. Xavier's College Kolkata Educational Trust as a 'College' partly engaged in research, conditional on utilisation of sums for scientific research, research being conducted by faculty or enrolled students, maintenance of separate books for research receipts and expenditure, audit of those books by a qualified accountant with submission of the audit report to tax authorities by the return due date, and a certified statement of donations and amounts applied for research accompanying the audit report.

Research institution approval requires audited separate research accounts and certified donation statements, noncompliance risks withdrawal.
Semi Conductor Laboratory, Mohali is approved as an other institution partly engaged in scientific research for the purposes of clause (ii) of sub section (1) of section 35, effective 1 4 2006, subject to conditions: sums must be used for scientific research; research must be conducted by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited by a qualified accountant with the audit report furnished by the income tax return due date; and a separately certified statement of donations and sums applied for research must accompany the audit report.

Appointment of National Committee for Promotion of Social and Economic Welfare: members designated under section 35AC for a three-year term.
The Central Government appoints fourteen persons, including a Chairman and members, to the National Committee for Promotion of Social and Economic Welfare under section 35AC, invoking the Income-tax Act and applicable rule provisions; appointees are named with affiliations and are appointed for a three-year term commencing on the notification date.

Research donation approval enables tax deductible contributions subject to audit and reporting requirements and withdrawal on noncompliance.
Approval was granted to BIOVED Research Society as an other institution partly engaged in scientific research from 1 4 2007 subject to conditions: payments must be used for scientific research; research must be carried out by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited by an accountant with the audit report furnished to the tax authority by the return due date; a separately certified statement of donations and amounts applied to research must accompany the audit report. Approval may be withdrawn for specified failures or noncompliance.

Research funding approval under Section 35(1)(ii) requires utilization for scientific research and statutory audit compliance.
Approval was granted to Cancer Centre Welfare Home and Research Institute as an 'other Institution' partly engaged in research, subject to conditions: research receipts must be used for scientific research; research must be undertaken by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited by a qualified accountant with the audit report furnished to the tax authority by the return due date; and a separately certified statement of donations and amounts applied for research must accompany the audit report. Approval may be withdrawn on specified failures or cessation of genuine research activity.

Scientific research association approval subject to audit, accounting and donation reporting; non-compliance may lead to approval withdrawal.
Approval is granted to Shri A.M.M. Murugappa Chettiar Research Centre as a scientific research association subject to conditions: sole objective of scientific research; conduct research activities directly; maintain books of account and obtain and furnish an auditor's report by the return due date; and maintain and submit a certified statement of donations and amounts applied for research. The Central Government may withdraw approval for failure to maintain books, furnish audit reports or donation statements, cessation or lack of genuine research activity, or non compliance with the governing rules.

Approval under section 35(1)(ii) permits university research deductions subject to separate accounts, audited reports and donation statements.
Approval for research deduction purposes has been granted to Indian Institute of Technology Bombay as a University partly engaged in research, effective from 1-4-2006, contingent on use of sums for scientific research and conduct of research by faculty or enrolled students. The institute must keep separate books of account for research receipts and expenditures, obtain and furnish an auditor's report with the income tax return, and provide a certified statement of donations and application of funds. The Government may withdraw approval for failure to maintain accounts, furnish reports, cease genuine research, or otherwise breach the statutory conditions.

Valuation of specified security requires merchant banker-determined fair market value on vesting for fringe benefit tax purposes.
Rule 40D prescribes that for the purposes of clause (ba) of sub-section (1) of section 115WC the fair market value of any specified security not being an equity share, on the date the option vests with the employee, shall be the value determined by a merchant banker on the specified date, with 'merchant banker' and 'specified date' having the meanings assigned in sub-rule (4) of rule 40C. Rule 40C's definition of equity share is omitted.

Approval under section 35(1)(ii) permits tax recognition for research donations, conditional on audit, separate accounts and genuine research.
Nature Conservation Foundation, Mysore is approved under section 35(1)(ii) read with rules 5C and 5E as an 'other Institution' partly engaged in scientific research from 1 April 2006, subject to conditions: research receipts must be used for scientific research; research must be conducted by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited by a qualified accountant with the audit report furnished to the tax authorities by the income tax return due date; and a separate auditor certified statement of donations and amounts applied to research must be maintained and furnished.

Section 35 research approval requires separate audited accounts and an auditor certified donation statement to retain tax recognition.
Approval granted to The Foundation for Medical Research, Mumbai as an other institution partly engaged in scientific research, conditional on using receipts solely for research, carrying out research through faculty and enrolled students, maintaining separate books of account for research receipts and expenditures, getting those books audited by a prescribed accountant and furnishing the audit report by the income tax return due date, and maintaining an auditor certified statement of donations and amounts applied for scientific research to accompany the audit report.

Research-donation approval conditions specified for institution; compliance with audit and separate accounts required to retain tax approval.
Approval is granted to the Bombay Natural History Society as an other institution partly engaged in scientific research, subject to conditions: funds must be used for scientific research; research must be carried out by faculty or enrolled students; separate books and a donations statement for research must be maintained; and a qualified accountant must audit research receipts and expenditures with the audit report and certified donations statement furnished to tax authorities by the income-tax return due date.

Tax exemption for specified international sporting event income covers Host Fee received by Commonwealth Games Federation from event organisers.
The Central Government designates the Commonwealth Games Federation as the person, Commonwealth Games 2010 as the international sporting event, and the Host Fee income arising to the Federation from the Organising Committee as the specified income; that identified Host Fee income is treated as exempt under clause (39) of section 10 of the Income-tax Act for the purposes of the statutory exemption framework.