Amendment to Income tax Rules: investment in National Skill Development Corporation shares specified as qualifying investment.
An amendment to Rule 17C of the Income tax Rules, 1962 inserts clause (vii) specifying investment by way of acquiring shares of National Skill Development Corporation as an enumerated investment; the Income tax (Ninth Amendment) Rules, 2008 are made under powers of section 295 read with clause (xii) of sub section (5) of section 11 and are deemed effective from 31 July 2008.

Deduction under section 80-IB(11C) requires Form 10CCBD accountant report verifying hospital eligibility and deduction computation.
Rule 18DDA requires an accountant's report in Form No.10CCBD with the return of income to claim the deduction under sub section (11C) of section 80 IB, specifying identification and ownership of the hospital, commencement and approval details, location, technical specifications (beds, operation theatre, labour room, laboratory, qualified doctors and nurses, emergency and diagnostic facilities), and the computation of receipts, profits and deduction claimed, accompanied by an accountant's declaration that the undertaking meets the conditions of sub section (11C) and that the accounts give a true and fair view.

Permitted cash payment exceptions clarified, listing specified banks, electronic transfers, producer purchases, and village payments.
Enumerates exceptions to the general prohibition on cash payments above the prescribed threshold for tax disallowance: payments to specified banks, credit societies and the national life insurer; Government payments required in legal tender; transfers through banking instruments and electronic systems; adjustments against liabilities; purchases of agricultural, animal husbandry, fish, horticulture, apiculture and cottage-industry products from producers; payments in bankless localities; specified employee terminal benefits and temporary salary payments lacking local bank accounts; payments on bank-closed days; agent cash disbursements; and authorised dealer or money changer foreign-currency purchases.

Tax treaty amendment: substitution of specified financial institution name, affecting interest exemption from taxation, effective by notification.
Amendment substitutes "International business unit of Japan Finance Corporation" for "Japan Bank for International Cooperation" in the list of government owned financial institutions exempt from tax on interest under the Convention; effected by notification under domestic treaty implementation powers and deemed to have taken effect from 1st October, 2008.

Exemption under section 35AC: project allowed to spend collected funds but prohibited from soliciting further donations.
Notification under section 35AC extends eligibility of the "Integrated Rural Development Project" by Jankidevi Bajaj Gram Vikas Sanstha for a further period beginning with financial year 2008-09 to permit utilisation of amounts already collected under section 35AC; the extension follows the National Committee's recommendation and expressly prohibits the applicant from raising any further donations under section 35AC.

Tax exemption under section 35AC extended for an eligible charitable scheme, but not applicable to donations collected in the elapsed financial year.
The Central Government, on recommendation of the National Committee, notifies continued eligibility for income tax exemption of the Banwasi Seva Ashram project comprising the Mahatma Gandhi Mission, women and children centres, and Banwasi Bhawana, at the previously approved aggregate cost, for a further three year period, while expressly disallowing issuance of exemption certificates for donations collected during the already elapsed financial year.

Section 35AC exemption extended for higher education for visually handicapped, maintaining project eligibility after committee recommendation.
Notification under section 35AC extends eligibility of the project "Higher education for handicapped especially visually handicapped" by Voice of the World, Kolkata for a further three years beginning with financial year 2008-09, based on the National Committee's recommendation that the project is being executed properly; the extension is granted without any change to the approved project cost of Rs. 64.28 lakh.

Tax exemption under section 35AC: eligible project status extended for Disability Reduction Project for a further three years.
Notification extends tax-exempt status under section 35AC to the "Disability Reduction Project" by Impact India Foundation for a further three-year period beginning with financial year 2008-09, with the approved project cost remaining unchanged at Rs. 590.00 lakh, following a recommendation by the National Committee for Promotion of Social and Economic Welfare under the Income-tax Rules.

Exemption under section 35AC: construction of multi specialty hospital approved for extension, not valid for funds collected in elapsed year.
Notification extends eligibility under section 35AC to the 'Construction of 76 Bed Multi Specialty Hospital' by Lakulish International Fellowship's Enlightenment (Life) Mission for a further three years beginning with financial year 2007-08, with no change to the approved cost; approval does not apply to funds collected during financial year 2007-08 and no certificate for exemption of donation under section 35AC(1) shall be issued for that year.

Exemption under section 35AC: extension and increased project cost for rehabilitation and education of the blind scheme authorized.
The Central Government, pursuant to section 35AC and on the recommendation of the National Committee for the Promotion of Social and Economic Welfare, notifies the project 'Rehabilitation and Education of the blind in Gujarat State' by the National Association for the Blind (Gujarat State Branch), Ahmedabad as eligible for a further three years beginning with financial year 2008-09 and amends the previously notified maximum project cost for the scheme.

Exemption under section 35AC extended, preserving eligibility and increasing the notified project cost for a rehabilitation scheme.
Exemption under section 35AC is extended for the Blind People's Association's rehabilitation project for three more years beginning with financial year 2008-09 following the National Committee's recommendation that the project is properly executed. The notification also amends the earlier notification by increasing the maximum permissible project cost to reflect the revised project estimate, thereby maintaining the project's eligibility as an notified scheme under the statutory framework.

Tax exemption under section 35AC extended for leprosy rehabilitation project, preserving approved project cost and eligibility.
Central Government notifies the scheme "Comprehensive Rehabilitation of leprosy patients and leprosy affected families" by The Leprosy Mission Trust India as an eligible project under section 35AC for a further three years beginning with financial year 2008-09, following the National Committee's recommendation that the project is being executed properly and likely to continue, and confirms no change in the approved project cost of Rs. 7.82 crore.

Section 35AC eligible project extension: construction of a home for the aged blind extended for three more years.
Notification under section 35AC extends the eligibility of the 'Construction of a home for the aged blind' by the National Association for the Blind, R.K. Puram, New Delhi, for a further three years beginning with the 2009-10 financial year, on the recommendation of the National Committee for Promotion of Social and Economic Welfare, and confirms no change in the approved cost for infrastructure and the corpus fund.

Tax exemption under section 35AC extended to Vatsalya Trust projects, permitting continued eligibility for donor deductions.
The Central Government notified continuation of Income-tax exemption under section 35AC for Vatsalya Trust's projects-orphanage, Balika Ashrama, old age home and child-parents guidance centres-as an eligible project or scheme for a further three-year period beginning 2008-09, following the National Committee's recommendation and without any change in the approved project cost.

Exemption under section 35AC extended for Vidya Pratishthan project, preserving eligible status for a further three year period.
The Central Government, under sub section (1) read with the Explanation to section 35AC of the Income tax Act, notifies the 'Empowering the poor rural development project' as an eligible project for a further three year period beginning with the relevant financial year, following a recommendation by the National Committee for Promotion of Social and Economic Welfare; the project's approved cost remains unchanged.

Exemption under section 35AC extended for hospice project, eligible period and cost ceiling amended by notification
Notification under Section 35AC extends eligibility for the Bangalore Hospice Trust's 50 bed hospice project for three years beginning with financial year 2008 09 and amends the earlier notification by increasing the maximum project cost permitted for the purpose of the Section 35AC exemption following recommendation of the National Committee for the Promotion of Social and Economic Welfare.

Exemption under section 35AC extended for specified hospital construction project, preserving approved cost and continued eligibility.
The Central Government, acting on the National Committee's recommendation under rule 11M, extends the exemption under section 35AC to the specified hospital construction, renovation and equipment purchase project carried out by Sheth Vadilal Sarabhai General Hospital and Sheth Chinai Maternity Hospital, preserving the previously approved project cost and notifying continued eligibility for a further three-year period beginning with the financial year 2008-09.

Exemption under section 35AC extended for animal shelter and medical camps, eligibility continued for a further three-year period.
The Central Government, invoking sub-section (1) read with clause (b) of the Explanation to section 35AC, re-notifies the project "Running of Animal Shelter and Rescue Home (Panjrapole) and medical camps at Luni Village (Kutch) and nearby villages" by Shri Vardhman Jivdaya Kendra as an eligible project for a further three-year period beginning with financial year 2008-09, following the National Committee's recommendation that the project is being properly executed; the approved project cost is retained without change.

Section 35AC exemption extended for Project 'Eye Hope' but no certificates for donations collected in the elapsed financial year.
The Central Government renewed notification of "Project 'Eye Hope' at Mumbai and surrounding areas" as an eligible project under Section 35AC, following the National Committee's recommendation that the project is being executed properly. The extension covers a further three year period beginning with the specified financial year while maintaining the previously approved project cost and corpus fund. The approval is not valid for donations collected in the already elapsed financial year and no certificate under Section 35AC(1) will be issued for that year.

Exemption under section 35AC extended for vocational training institute by Sri Aurobindo Ashram for a further three-year period.
The Central Government, invoking the Explanation to section 35AC, notifies the project "To build a vocational training institute for training of economically backward youth" carried out by Sri Aurobindo Ashram, Delhi Branch Trust as an eligible project for a further three-year period beginning with financial year 2008-09, following a recommendation by the National Committee and without change to the previously approved project cost.