Statement of income by venture capital vehicles: mandatory electronic filing with digital signature and accountant verification.
Amendment replaces rule 12C prescribing that Venture Capital Companies and Venture Capital Funds must furnish an electronic statement of income paid or credited under section 115U by the 30th November of the financial year following the previous year to the Chief Commissioner/Commissioner of the jurisdiction of their principal office. The statement must be in Form No.64, verified by an accountant, filed under digital signature, and accompanied by SEBI registration proof, audited accounts, and supporting schedules detailing investment income by heads and recipients to which income was paid or credited; the Director General of Income-tax (Systems) will specify filing procedure and security arrangements.

Remittances to non-residents must be reported electronically via Form 15CA, with accountant certification for chargeable payments.
Rule 37BB requires persons making payments to non-residents or foreign companies to furnish Form No.15CA electronically and provide a signed printout to the authorised dealer; small remittances use Part A, payments in the specified list not chargeable to tax use Part B, and other remittances use Part C which generally requires Form No.15CB from an accountant or an Assessing Officer's certificate/order under sections 197 or 195(2)/(3). The Director General (Systems) will set electronic procedures and authorised dealers may be asked to produce the printout for proceedings.

Tax residency documentation requires submission and retention of Form No. 10F with supporting documents to claim treaty relief.
An assessee claiming treaty relief must provide specified information in Form No. 10F - status, nationality or place of incorporation, tax identification number or alternate government identifier, period for which the certificate of residence applies, and foreign address for that period - unless that information already appears in the foreign residence certificate; the assessee must retain documents substantiating the Form No. 10F entries and produce them to an income-tax authority when claiming treaty-based relief.

Interest rate cap on rupee denominated bonds notified; limit tied to SBI base rate at issuance.
Notification prescribes that interest on rupee denominated bonds of Indian companies shall not exceed 500 basis points over the State Bank of India Base Rate: for bonds issued before 1 July 2010 the benchmark is the SBI Base Rate as of 1 July 2010; for bonds issued on or after 1 July 2010 the benchmark is the SBI Base Rate applicable on the date of issue.

Tax exemption under section 10(46) covers government grants and interest for the Uttarakhand State AIDS Control Society, conditional on compliance.
Notification under Section 10(46) notifies Uttarakhand State AIDS Control Society as eligible for exemption on grants in aid from the Government of India and interest on those grants, applied to FYs 2011 12 and 2012 13 and applicable for FYs 2013 14 through 2015 16, subject to conditions prohibiting commercial activity, requiring unchanged activities and income character during the year, and specified return filing; international agency grants to be handled per prevailing rules.

Approval under section 10(23C)(vi) confirms tax-exemption eligibility for M/s Sine International Enterprise subject to compliance requirements.
Approval is granted to M/s. Sine International Enterprise, Jaipur under section 10(23C)(vi) of the Income-tax Act, 1961 read with rule 2CA of the Income-tax Rules, 1962, effective from the stated assessment year; the approval is conditional on the society's conformity and compliance with the provisions of the cited clause and rule.

Approval under section 10(23C)(vi) granted to Samajik Anusandhan Vikas Samiti, subject to compliance with rule 2CA.
Approval is granted to Samajik Anusandhan Vikas Samiti, Jaipur, under the income tax provision for charitable entities, effective from assessment year 2012 13 onwards, subject to the society's conformity with and compliance to the substantive clause and the procedural rule of the Income tax Rules, 1962 that govern such approvals.

Approval under section 10(23C)(vi) recognises tax-exempt status for the educational society, subject to ongoing compliance.
Approval is granted to M/s Children Academy Society, Alwar, under section 10(23C)(vi) of the Income-tax Act read with rule 2CA of the Income-tax Rules, effective from 20 April 2012, subject to the society's conformity and compliance with the requirements of that sub-clause and rule.

Extension of eligible project status under income-tax rules for Balgram SOS Children's Villages preserves tax-supported eligibility.
The Central Government re-notifies Balgram SOS Children's Villages, Pune, as an eligible project under the Income-tax Act for a further three-year period beginning with financial year 2015-16, acting on the National Committee's recommendation and without any change to the previously approved project cost.

Departmental examinations schedule revised: Annex A replaces prior annexure and provides the authoritative September 2013 timetable.
Notification partially modifies the 2013 Departmental Examinations by replacing Annexure 4 of the prior notification with Annex A, which provides the authoritative timetable of papers, sessions and times for Income Tax Officers, Income Tax Inspectors and Ministerial Staff; all other provisions of the earlier notification remain in force.

Skill development project notification process: NSDA-led approval, CBDT Gazette notification and audited project-account conditions enforced.
A statutory framework requires eligible companies to apply to the NSDA, with a copy to the jurisdictional tax officer, for notification of skill development projects, providing project details, cost estimates (excluding land and building), timelines and a training institute concurrence; NSDA reviews, seeks clarifications, and recommends approval or rejection to the CBDT, which issues a Gazette notification for a limited period subject to conditions. Notified projects must maintain separate audited project accounts with auditor comments on genuineness and compliance, submit audited statements and deduction claims with returns, and face potential rescission if activities are not genuine or compliant.

Double Taxation Agreement between India and Uruguay: tax allocation, foreign tax credit relief and information exchange.
The Agreement between India and Uruguay provides for the avoidance of double taxation on taxes on income and capital, applies to residents of one or both Contracting States and to specified taxes (including substantially similar future taxes), and is effective in India from the fiscal year beginning 1 April 2014. It allocates taxing rights by income category (including immovable property, business profits attributable to a permanent establishment, shipping and air transport, dividends, interest, royalties, capital gains, and personal services), prescribes foreign tax credit relief, sets out mutual agreement and exchange of information procedures, contains non discrimination and limitation of benefits rules, and includes a Protocol clarifying several operational points.

Tax exemption for government grants: grants in aid to Gujarat State AIDS Control Society notified, subject to activity, income and return filing conditions.
Notification under the Income-tax Act notifies the Gujarat State AIDS Control Society for the purposes of clause (46) of section 10, specifying that amounts received as grants-in-aid from the Central Government are the Society's specified income. The notification applies to financial years 2011-2012 and 2012-2013 and to 2013-2014 through 2015-2016, subject to conditions that the Society not engage in commercial activity, maintain unchanged activities and income character, and file returns as required by clause (g) of sub-section (4C) of section 139.

Recognised association compliance for derivatives requires FMC approval, immutable audit trails, client identification, and monthly modification reporting.
A recognised association for derivatives must have Forward Markets Commission approval, record and store client particulars including unique client identity number and PAN, maintain a non erasable seven year audit trail of derivative transactions, and permit modifications only for genuine errors while retaining data on modifications. Associations must apply for notification with FMC approval and supporting documents, and the Central Government will notify or reject the application within the prescribed period. Monthly submission of the prescribed Form No. 3BC is required to report transactions where client codes were modified, with an electronic annexure detailing transaction and client data.

Exchange of information: Protocol mandates tax information sharing with confidentiality, limited exceptions, and obligation to obtain requested data.
The Protocol replaces Article 21 to exempt students present in the other Contracting State for education or training from tax on grants, maintenance payments from persons outside the host State, and study related remuneration, subject to a reasonable duration and a maximum of six consecutive years, and replaces Article 28 to require exchange of information foreseeably relevant to tax administration or enforcement, subject to confidentiality, limited disclosure for tax purposes, specified limitations consistent with domestic law, and an obligation to use information gathering measures even when the requested State has no domestic interest in the information.

Tax exemption under clause 10(46) permits institutional income relief subject to non commercial and filing conditions.
A notification exempts specified institutional receipts - government grants, licence fees from electricity licensees, court or petition fees, and interest on such receipts - of a state electricity regulatory commission from income taxation, subject to conditions: no engagement in commercial activity, unchanged nature of activities and specified income throughout the financial year, and filing the return of income as prescribed by the Act. The exemption applies retrospectively to the prior financial year and to specified subsequent financial years.

Tax exemption for Odisha Electricity Regulatory Commission: specified income exempt subject to activity, income nature and return filing conditions.
Notification under clause (46) of section 10 of the Income tax Act notifies that the Odisha Electricity Regulatory Commission's specified income-Government grants, licence fees from electricity licensees, application processing fees, and interest on such grants and fees-is exempt for financial years 2012 13 through 2016 17, subject to conditions that the Commission does not engage in commercial activity, that its activities and the nature of the specified income remain unchanged during the year, and that it files returns in accordance with clause (g) of sub section (4C) of section 139.

Authorisation for financial records access: allows tax authority to obtain account information for notified jurisdiction transactions.
Insertion of rule 21AC requires an authorisation in Form No.10FC for payments to financial institutions in notified jurisdictional areas, with the first copy deposited with the financial institution and a second copy plus evidence submitted to the Assessing Officer; the authorisation must be made legally enforceable and includes an irrevocable waiver of data protection and banking secrecy. For transactions with specified persons in notified areas the assessee must maintain ownership structure, multinational group profile, business description and other relevant documents up to the return filing date and retain them for eight years.

Interest accrual and reinvestment defines yearly accrual, reinvestment and staged encashment values for specified savings certificates.
The rules insert a new sub-rule prescribing a fixed post-maturity encashment amount for a Rs.100 certificate purchased on or after 1 April 2013, an annual ten-year interest accrual table with interest for the first four years deemed reinvested and aggregated with face value, and proportionate treatment for other denominations. They also amend transitional wording and add a staged encashment schedule for certificates encashed after three years, specifying payable amounts in successive half-year bands up to ten years for a Rs.100 certificate, proportionate for other denominations.

Interest rate fixation: Senior Citizens Savings Scheme deposits made from the effective date earn the prescribed annual interest.
Amendment to the Senior Citizens Savings Scheme Rules inserts a proviso to rule 7(1) declaring that deposits made on or after 1 April 2013 shall bear the interest rate specified in the proviso, and that the amendment is deemed to have been in force from 1 April 2013; the change is made under the rulemaking power conferred by section 15 of the Government Savings Banks Act, 1873, with certification that the retrospective effect does not prejudice depositors.