Tax exemption for institution income conditioned on exclusive application, accumulation limits, permitted investments and compliance filing.
Notification exempts from assessable income any income received on behalf of Sri Sri Jagatguru Shankaracharya Mahasamsthanam Dakshinamnaya, Sri Sharada Peetham, Sirngeri for assessment years 2005-2006 to 2007-2008, subject to conditions: application or limited accumulation of income for institutional objects, investment only in prescribed modes, business income only if incidental with separate accounts, regular filing of returns, and transfer of surplus on dissolution to a like-minded organization; applies only to recipients of income on behalf of the Institution.

Withdrawal of tax exemption under section 35AC: project-specific deduction revoked and related certificate excluded from tax computation.
Withdrawal of exemption under section 35AC is effected for the Bhartiya Jeevan Dhara Educational and Charitable Trust's hospital project at Deoria, following the National Committee's recommendation after an Income-tax Department enquiry. The notification omits the serial entry identifying the project and directs that the certificate furnished under the statutory certification requirement shall not be taken into account in computing income-tax, thereby removing the project-specific eligibility for the exemption.

Withdrawal of tax exemption for a specified charitable project after inquiry, removing its certificate from tax computation.
The Central Government withdraws the earlier notification insofar as it relates to the specified project by Bhartiya Jeevan Dhara Educational and Charitable Trust for construction and running of the hospital and Maha Vidyalaya at Deoria, omits the serial entry in the notification, and directs that the certificate furnished under clause (a) of sub section (2) shall not be taken into consideration while calculating income tax.

Approval under Section 35(1)(ii) requires separate research accounts, audited I&E filing, and an auditor's certificate for research funding.
Approval is granted to the Centre for Research in Mental Retardation (CREMERE) as an institution under Section 35(1)(ii) for the period 1-4-2003 to 31-3-2006, subject to maintenance of separate accounts for research; filing the audited Income & Expenditure account for each approved year with the Commissioner/Director of Income Tax by the return filing due date or within 90 days of the notification; and furnishing an auditor's certificate specifying amounts received for scientific research eligible for donor deduction and certifying that the expenditure was for scientific research.

Research deduction approval under Section 35(1)(ii) requires separate research accounts, audited returns and auditor certification.
Approval for M/s M.S. Chellamuthu Trust and Research Foundation under Section 35(1)(ii) as an institution partly engaged in research is subject to maintaining separate accounts for research, submitting audited Income & Expenditure accounts for research activities to the jurisdictional tax authority by the return due date or within ninety days of the notification (whichever is later), and furnishing an auditor's certificate specifying amounts received for scientific research eligible for donor deduction and certifying that the expenditure was for scientific research.

Income exemption under Section 10(23C)(iv) excludes amounts received for Arya Vaidya Sala from assessable income, subject to conditions.
Any income received by any person on behalf of Arya Vaidya Sala, Kattakkal shall not be included in that person's total income for the assessment years 2004-2005 to 2006-2007 under Section 10 (23C)(iv), subject to conditions: application or limited accumulation of income for institutional objects, permitted modes of investment, exclusion of business income unless incidental with separate books, regular filing of returns, and transfer of surplus on dissolution to a like organization.

Tax exemption for income received on behalf of Petroleum Planning and Analysis Cell subject to application, investment and reporting conditions.
The Central Government notifies that income received by any person on behalf of Petroleum Planning and Analysis Cell shall not be included in the recipient's total income for the specified assessment years, subject to conditions: application or limited accumulation of income to the Institution's objects, permitted modes of investment per section 11(5), exclusion of non-incidental business income unless separate books are maintained, regular filing of income-tax returns, and transfer of surplus and assets on dissolution to a like-minded organization. The notification applies only to recipients of income on behalf of the Institution.

Industrial park notification grants tax incentive under section 80 IA(4)(iii) subject to infrastructure, unit and transfer conditions.
The Central Government notifies M/s Salarpuria Properties Private Limited's Salarpuria G R Tech Park as an industrial park for purposes of clause (iii) of sub section (4) of the Income tax Act, subject to annexed conditions: specified location and area, primary activity of software and data services, 100% industrial allocation, minimum four units, stated investment levels, minimum infrastructure expenditure thresholds, definition of qualifying common infrastructure, a cap of fifty percent occupancy by any single unit, requirement to obtain statutory and foreign investment approvals, operator continuity while benefits are claimed, mandatory joint intimation on transfer of operations, and withdrawal or invalidation of approval for non compliance or undisclosed material facts.

Approval under Section 35(1)(ii): organization approved subject to separate accounts, auditor certificate and timely reporting.
Approval has been granted to The Energy and Resources Institute as an Institution for donor-deduction purposes for 1-4-2003 to 31-3-2006, subject to maintaining separate accounts for research, submission of audited Income & Expenditure accounts for research to the Commissioner/Director (Exemptions) by the return due date or within 90 days of notification, and provision of an auditor's certificate specifying eligible receipts and certifying that the expenditure was for scientific research.

Research donation deduction under Section 35(1)(ii): approval granted subject to accounting, audit, and auditor certificate requirements.
Approval is granted to Dr. Venkatrao Dawle Medical Foundation, Nilangekar Hospital, Distt. Latur, under Section 35(1)(ii) read with Rule 6 as an other Institution for the period 3-10-2005 to 31-3-2007, subject to conditions: maintain separate accounts for research; submit audited Income & Expenditure accounts for approved research to the Commissioner/Director by the return filing due date or within ninety days of the notification, whichever is later; and accompany those accounts with an auditor's certificate specifying amounts eligible for deduction and certifying that expenditure was for scientific research.

News agency recognition granted subject to income applied solely to news collection and distribution, not distributed to members.
The Central Government specified The Press Trust of India Limited as a news agency under the tax exemption provision for assessment years 2006-2007 to 2008-2009, on the condition that the agency's income is applied or accumulated solely for collection and distribution of news and is not distributed to its members.

News agency status recognition under tax exemption: income must be applied to news collection and not distributed to members.
Specification of United News of India as a news agency for the stated assessment years recognises it for income-tax exemption as an entity set up in India solely for collection and distribution of news. The notification conditions recognition on the agency applying or accumulating its income solely for collection and distribution of news and on not distributing its income to members.

Industrial Park approval under section 80IA: tax benefits conditional on compliance, minimum units and infrastructure requirements.
The Central Government notifies M/s Akruti Nirman Limited's undertaking at M.I.D.C., Marol, Andheri (East), Mumbai, as an industrial park under clause (iii) of sub section (4) of the Income tax Act, subject to annexed terms: specified location, area, NIC coded activities, allocable industrial and commercial area percentages, minimum number of units, and investment figures. Approval is conditional on minimum infrastructure expenditure thresholds (50% generally; 60% when built up industrial space is provided), prescribed infrastructure components, a cap on single unit area occupancy, requisite statutory approvals, operation by the developer while benefits are availed, notification on transfer, and Government power to withdraw approval for non compliance or nondisclosure.

Option to file Form 2F enables certain resident individuals and HUFs a simplified return without tax computation or proof.
A new proviso permits a resident individual or Hindu undivided family to elect to file a simplified return in Form 2F where the total income excludes business or professional income, capital gains, and agricultural income; no relief under section 89 for arrears or advance salary is claimed; and the assessee does not own more than one house property. Returns in Form 2F need not be accompanied by a tax computation statement or proof of tax deducted at source, advance tax, or self-assessment tax.

Annuity plan designation: Jeevan Akshay III declared eligible for tax deduction under section 80C(2)(xii).
The Central Government specifies the Jeevan Akshay III Plan of the Life Insurance Corporation of India as an annuity plan for the purposes of Section 80C(2)(xii) of the Income tax Act, 1961, applying to assessment year 2006 07 and subsequent assessment years, based on the plan as filed by LIC with the Insurance Regulatory and Development Authority.

Charitable income exemption for amounts received on behalf of a welfare society, subject to accumulation, investment and reporting conditions.
Notification under Section 10(23C)(iv) exempts from the recipients' total income any amounts received on behalf of The Hindu Women's Welfare Society for the specified assessment years, subject to conditions: application or limited accumulation of income (with excess accumulation over fifteen per cent limited to five years), permitted modes of investment, exclusion of business income unless incidental with separate books, regular filing of returns, and transfer of surplus on dissolution to a similar-object entity; the exemption is confined to receipts on behalf of the Institution and does not decide the Institution's own taxability.

Income exemption for donations to Chief Minister's Earthquake Relief Fund subject to prescribed investment, accumulation, business and reporting conditions.
Notification under Section 10(23C)(iv) excludes from assessable total income any amounts received by persons on behalf of the Chief Minister's Earthquake Relief Fund, Maharashtra, subject to conditions: income must be applied wholly to charitable objects or accumulated within prescribed limits; investments limited to modes in section 11(5) (with narrow exceptions); business income only if incidental with separate books; regular filing of returns; and on dissolution surplus/assets transferred to a similarly purposed organization. The notification covers only receipts on behalf of the Institution, not other recipient income.

Tax exemption for institution receipts: income received on behalf of Rashtriya Mahila Kosh exempted subject to specified compliance conditions.
Notification grants tax exemption under section 10(23C)(iv) for income received on behalf of Rashtriya Mahila Kosh for AYs 2003-04 to 2005-06, subject to conditions: income applied or accumulated exclusively for institutional objects with accumulation over 15% limited to five years; permitted modes of investment; business income exempt only if incidental and separately accounted; regular filing of returns; and transfer of surplus on dissolution to a like-minded organization. The exemption applies only to recipients of such income.

Income exemption for institution receipts conditioned on exclusive application, restricted investments, return filing, and asset transfer on dissolution.
Income received by any person on behalf of Uttaranchal State Seed and Organic Production Certification Agency is exempt from inclusion in that person's total income for the specified assessment years under clause (23C)(iv) of section 10, conditional on exclusive application or limited accumulation of income, permissible modes of investment, exclusion of unrelated business income unless incidental with separate accounts, regular filing of returns, and transfer of surplus assets on dissolution to a like-minded organization.

Income exempted for institutional receipts: Jehangir Art Gallery donations excluded from donors' taxable income subject to conditions.
Notification excludes from a person's total income any amounts received on behalf of Jehangir Art Gallery, Mumbai for assessment years 2006-07 to 2008-09, subject to conditions: income must be applied or accumulated exclusively for the Institution's objects with accumulations above fifteen percent limited to five years; investments must follow modes permitted for charitable funds; business income is excluded from the exemption unless incidental and separately accounted; regular return filing is required; and on dissolution surplus assets must transfer to a similar organization.