Income exemption for District Mineral Foundation Trusts clarifies specified receipts exempt subject to non-commercial activity and filing conditions.
Central Government notifies District Mineral Foundation Trusts as a class of authority under section 10(46) to exempt specified receipts - contributions by leaseholders, interest for late payment, penalties, interest on DMF funds including savings and term deposits - subject to conditions: no commercial activity, unchanged activities and income character across years, statutory return filing and audited report with a chartered accountant's certificate; notification applies retrospectively to specified assessment years and to listed Trusts.

Industrial park designation grants tax eligibility under Section 80-IA to Softzone Tech Park Ltd., subject to compliance conditions.
The Central Government notifies M/s Softzone Tech Park Ltd. as an industrial park under clause (iii) of sub-section (4) of section 80-IA, subject to annexed terms: site, area and allocable industrial and commercial proportions; minimum infrastructure investment percentages (with a higher threshold where built-up industrial space is provided); specified infrastructure components; a cap preventing any single unit occupying more than fifty per cent of allocable industrial area; requirement for separate statutory approvals; conditioning of tax benefits on achieving the specified number of units; obligatory operation by the proprietor during benefit period; transfer notification procedure; and grounds for invalidation and withdrawal for noncompliance.

Specification of Scheduled Commercial Banks applies them under Section 138(1) of the Income tax Act by Central Government notification
Central Government designates the Scheduled Commercial Banks listed in the Second Schedule of the Reserve Bank of India Act, 1934 for the purposes of sub clause (ii) of clause (a) of subsection (1) of the Income tax Act, 1961, by formal notification.

Income-tax Authority Reassignment updates headquarters and assessment unit listings, correcting and reallocating jurisdictions across regions.
The corrigendum amends the Schedule of income tax authorities by replacing and correcting specified entries: it designates a block of Assessment Unit posts as headquartered at Kolkata; substitutes and inserts a new series of Assessment Unit entries headquartered at Shimla in place of deleted entries; and deletes another sequence while inserting a block of Assessment Unit listings to be placed under the administrative control of the CCIT (ReAC), Bareilly, with headquarters at Haldwani, thereby realigning jurisdictional headquarters in the principal notification.

Jurisdictional reallocation of income-tax offices updates office designations and inserts and deletes specific postings across regions.
Corrigendum amends Schedule IV of the earlier Income-tax notification by deleting a listed entry, replacing office designations and locations for multiple serial numbers, and inserting new serial entries with specified Principal Commissioner/Commissioner of Income-tax designations for affected localities, thereby updating the Gazette record of administrative office allocations.

Corrigendum to Income-tax notification: reassignment of commissioner jurisdictions and amendments to Schedule entries altering territorial postings.
Corrigendum amends the Schedule of the earlier Income-tax notification by substituting, deleting and inserting specific Principal Commissioner/Commissioner and Chief Commissioner entries across several serial numbers, thereby changing territorial attributions and the list of Principal Commissioners attached to specified Chief Commissioner divisions to reflect revised administrative mappings.

Pension fund exemption requirements: foreign pension funds must meet regulatory, reporting and certification conditions for tax exemption.
The rules prescribe that foreign pension funds seeking exemption must be regulated under foreign law, administer assets for statutory retirement or similar plans, restrict earnings and assets to beneficiary obligations without commercial activity, intimate each Indian investment quarterly using Form No. 10BBB, and file annual returns with a compliance certificate in Form No. 10BBC from an accountant confirming compliance and detailing eligible investments and disposals.

Faceless Assessment Scheme: centralized electronic management of income tax assessments with national and regional units handling assessments and verification.
A centralized Faceless Assessment Scheme designates the NeAC as the electronic gateway and multiple ReACs with distinct AU, VU, RU and TU units to perform assessment, verification, review and technical functions; all communications to taxpayers and third parties are to be routed through NeAC via departmental electronic portals.

Concurrent exercise of income-tax powers authorised; regional e-assessment centres granted verification jurisdiction over specified cases nationwide.
Principal Commissioners of Income-tax designated as PCIT (ReAC) (VU) are authorised to exercise concurrent powers under the Income-tax Act and act as Prescribed Authority for verification functions, with authority to hold additional charge and to exercise powers in respect of specified territories, persons, incomes or cases where information exists with the Directorate of Income-tax (Systems). Principal Commissioners may delegate to Additional or Joint Commissioners, who may further delegate to Deputy, Assistant Commissioners or Income-tax Officers, as specified in the Schedule.

Faceless Assessment powers assigned to Regional e Assessment Centres to exercise Assessing Officer functions and enable remote assessments.
Direction under section 120 designates specified Regional e-Assessment Centres and listed Income-tax Authorities in the Schedule to exercise concurrently the powers and functions of Assessing Officers to conduct Faceless Assessment proceedings, with the Schedule enumerating each office by designation and headquarters and Notes recording substitutions or omissions by later notifications; the notification is effective from the date of issue.

Faceless Assessment: NeAC income-tax authorities authorised to exercise Assessing Officer powers for specified territories, persons and cases.
The notification directs that the Income-tax Authorities of the National e-Assessment Centre (NeAC), headquartered in Delhi and listed in the Schedule, shall exercise the powers and functions of Assessing Officer concurrently to facilitate Faceless Assessment proceedings in respect of territorial areas, persons or classes of persons, and cases or classes of cases as set out in Schedule-1 to Notification No. 50 of 2014; the direction takes effect from 13th August, 2020.

Jurisdictional authorisation of income-tax authorities expands under Schedule-IV, extending specified Principal Commissioners' powers across designated areas.
The notification inserts serial 67a designating the Principal Commissioner/Commissioner of Income-tax, Srinagar, with jurisdiction over all districts of the Union Territories of Jammu & Kashmir and Ladakh, specifying classes of persons and cases covered. It also inserts clause (db) authorising specified Principal Commissioners/Commissioners in a newly added Schedule-IV to exercise powers and perform functions for designated cases, persons and incomes within the jurisdictions set out in that Schedule, in addition to their existing jurisdiction.

Reorganisation of income tax authorities substitutes a revised schedule of designations and jurisdictions, made effective in August under statutory powers.
The notification substitutes a revised schedule enumerating designations, headquarters and jurisdictional allocations of Income tax authorities, pairing each principal designation with its headquarters and listing subordinate Commissionerates (including TDS posts) under each Chief Commissioner or Principal Chief Commissioner, and incorporates corrigenda to correct textual entries; the amendment is issued under powers of the Income tax Act and takes effect from a date in August 2020.

Faceless Assessment procedure centralises automated allocation and electronic completion of income tax assessments with video hearings permitted.
Faceless Assessment replaces E-assessment and centralises assessment proceedings in a National e-Assessment Centre which issues notices under section 143(2), allocates cases to Regional assessment units via automated systems, and coordinates requests for information, verification and technical assistance. Draft assessment orders and proposed penalty proceedings are prepared by assessment units, reviewed under a Board-specified risk management strategy, and finalised after offering show-cause opportunities; personal hearings and recording of statements, where permitted, are conducted exclusively through video conferencing. Electronic records and penalty records are transferred to jurisdictional Assessing Officers after completion, and administrative standards and e-proceeding processes are to be laid down by the Principal Chief Commissioner or Principal Director General with Board approval.

Faceless Assessment: centralised electronic procedure for notices, automated case allocation, draft orders, and video-conferenced hearings.
The amendments rename the E-assessment Scheme as Faceless Assessment, extend its scope to include assessments under section 144, incorporate the Income-tax Rules, 1962, and add audit expertise to unit competencies. NeAC initiates assessments by notice under section 143(2); cases are auto-assigned to Regional units which may requisition information, request verifications, or seek technical assistance. Draft orders, including penalty particulars, are reviewed under a Board-prescribed risk management strategy, may be finalised, returned for show-cause, or referred for review; final electronic records are transferred to the Assessing Officer. Communications and hearings are exclusively electronic, with limited exceptions and approved video-conferenced personal hearings.

Designation of Special Courts enables Magistrates of First Class to try income tax and black money offences in specified regions.
The Central Government, under powers in the Income-tax Act and the Black Money Act and in consultation with the Chief Justice of the High Court of Bombay, designates specified Magistrates of First Class in Maharashtra as Special Courts to try offences under the Income-tax Act and related matters under the Black Money Act, allocating regional jurisdiction for Mumbai (including Thane), Vidarbha (Nagpur) and Pune regions.

Exemption from PAN/Aadhaar rules for certain non-resident investors where fund level tax is deducted and prescribed reporting is provided.
The rules exempt non-resident individuals and entities (not being companies) who invest in a specified fund located in an IFSC from section 139A, and hence from section 206AA, where their only income in India is from the specified fund, tax on that income has been deducted and remitted by the fund under the applicable provision, and the non-resident provides name, contact, foreign address, residency declaration and Tax Identification Number or alternate government unique identifier; the specified fund must file Form 49BA quarterly and upload the residency declaration, with formats and verification administered by the Principal Director General/Director General (Systems).

Designation of Competition Commission official as authorised recipient; tax authority to provide necessary information under confidentiality protections.
Specification designates the Director General / Secretary, Competition Commission of India as authorised recipient of information under sub-clause (ii) of clause (a) of section 138(1) of the Income-tax Act. Income-tax authorities must form an opinion that disclosure is necessary, furnish only relevant and precise information, and convey to the specified authority that absolute confidentiality must be maintained in respect of the information furnished.

Due date extension for tax compliance allows certain pre-extension self-assessment payments to be treated as advance tax.
Amends Notification No. 35/2020 by substituting the 31st day of July, 2020 with the 30th day of September, 2020 for the specified clause, and inserts a proviso deeming that, for an individual resident in India referred to in sub section (2) of section 207, any tax paid under section 140A within the original due date shall be deemed to be the advance tax; comes into force on publication in the Official Gazette.

Investment fund reporting obligations require electronic submission of prescribed statements with portal generation, verification, and timelines.
Investment funds must furnish to unit holders Form No. 64C and file Form No. 64D with the tax office, generated or filed through the web portal specified by the Principal Director General/Director General of Income-tax (Systems) or an authorised person. Form No. 64C is to be delivered to unit holders and verified by the payer; Form No. 64D must be electronically filed under digital signature and verified by an accountant. The rules prescribe timelines for furnishing, require detailed income and loss break-ups, supporting audited accounts, and empower the systems authority to set procedures, formats, security, archival and retrieval policies.