National Savings Certificates amended: five-year maturity and specified annual interest accruals with reinvestment for certificates purchased on/after Oct 1, 2018.
Amendment makes maturity five years for certificates purchased on or after 1 October 2018, fixes maturity payout for Rs.100 at Rs.146.93 with proportionate rates for other denominations, specifies annual interest accruals for each of five years (8.00; 8.64; 9.33; 10.08; 10.88 per Rs.100) and deems interest accrued through the fourth year reinvested; it also prescribes early encashment pay out amounts for subperiods between three and five years for Rs.100 (122.50; 126.72; 131.08; 135.59) at proportionate rates for other denominations.

Tax exemption for Tamil Nadu Pollution Control Board: specified non commercial fees notified as exempt subject to conditions and filing requirement.
Central Government notifies Tamil Nadu Pollution Control Board for exemption of specified income, listing categories such as consent and authorization fees, analysis and survey fees, reimbursements for monitoring programmes, training fees without profit element, RTI fees, public hearing fees, sale of non commercial law books and scrap, interest on staff loans and deposits, cess reimbursement and appeal fees, and miscellaneous receipts; subject to conditions that the Board shall not engage in commercial activity, the nature of activities and income remain unchanged, and the Board files its return of income as required; notification applies to specified assessment years.

Tax exemption under section 10(46) extends specified-income relief to Uttarakhand Real Estate Regulatory Authority subject to compliance conditions.
Notification under section 10(46) notifies Uttarakhand Real Estate Regulatory Authority, Dehradun as an authority whose specified income-government grants; registration, application, penalty and late fees under the Real Estate (Regulation and Development) Act, 2016; Right to Information fees; and interest thereon-is exempted, subject to conditions that the Authority shall not engage in commercial activity, shall maintain unchanged activities and income character, and shall file its return of income under clause (g) of sub-section (4C) of section 139; retrospective application is declared for the stated assessment years.

Tax exemption under section 10(46) extends to the state electricity regulatory commission, subject to non commercial and filing conditions.
Notification notifies Chhattisgarh State Electricity Regulatory Commission, Raipur as a notified entity for exemption limited to specified incomes: grants from the State Government; annual license fees, petition fees, and penalties under the Electricity Act. The notification is subject to conditions that the Commission shall not engage in commercial activity, that activities and the nature of the specified income remain unchanged across financial years, and that the Commission file its return of income as required by clause (g) of sub section (4C) of section 139. The notification applies for assessment years 2018 19 through 2022 23.

Section 80D recognition of Ex Servicemen Contributory Health Scheme for notified assessment years under Income Tax Act provisions.
Central Government notifies the Ex-Servicemen Contributory Health Scheme of the Department of Ex-Servicemen Welfare, Ministry of Defence as covered for the purposes of clause (a) of sub section (2) of section 80D of the Income Tax Act, 1961 for the assessment year 2019-20 and subsequent assessment years, by Notification No. 55/2018 dated 26 September 2018.

Approval under section 35(1)(ii) permits donations to Indian Council of Medical Research to qualify for research deduction subject to conditions.
Central Government approved M/s Indian Council of Medical Research as an Other Institution for research deduction purposes from assessment year 2019-2020, subject to conditions: funds must be used for scientific research; grants passed to non-ICMR institutes are excluded while collaborative ICMR research remains eligible; research must be carried out by faculty or enrolled students; separate books of account and an auditor's report and auditor-certified donations statement must be maintained and furnished by the income-tax return due date; approval may be withdrawn for failures of accounting, reporting, genuine research activity, or noncompliance with the applicable provisions.

Tax exemption for specified electricity sector trust notified, conditional on non-commerciality and mandatory income filing compliance.
The Central Government notified that the State Load Despatch Centre Unscheduled Interchange Fund - West Bengal State Electricity Transmission Company Limited (PAN AAIAS0980J) is exempt in respect of residual unscheduled interchange pool balances, income incidental to unscheduled interchange, and interest on fixed deposits and auto-sweep accounts, subject to conditions: no engagement in commercial activity, unchanged nature of activities and specified income across financial years, and filing of return of income as required.

Tax exemption under section 10(46): notification exempts specified incomes of Tamil Nadu Water Supply and Drainage Board subject to conditions.
Notification exempts Tamil Nadu Water Supply and Drainage Board in respect of specified incomes: government/local body grants for deficit on operation and maintenance of CWSS, investigation charges for water and underground sewerage schemes, prescribed centage, water charges for bulk supply from local bodies, pension and gratuity contributions, various operational receipts (hire charges, sale of tender schedules, registration fees, fines, forfeitures, supervision and testing charges, sale of waste/used assets, publication subscriptions, fuel charges), and interest on those receipts, subject to conditions prohibiting commercial activity, maintaining unchanged activities and incomes, and complying with prescribed return filing.

Tax exemption under section 10(46) covers specified income of a state electricity commission subject to non-commercial conditions.
Notification under section 10(46) designates the Jharkhand State Electricity Regulatory Commission, Ranchi, as a notified commission for exemption of specified income comprising grants-in-aid, petition fees, license fees under the Electricity Act, application fees, fees for documents, RTI fees, and interest on these items. The notification is conditional on the Commission not engaging in commercial activity, maintaining unchanged activities and income character for the relevant assessment years, and filing income-tax returns under clause (g) of sub-section (4C) of section 139.

Tax exemption under section 10(46) extends relief to a state science council subject to specified compliance conditions.
Notification under section 10(46) exempts specified income of West Bengal State Council of Science & Technology, Kolkata - grants from Central and State Governments, course fees from research fellows, receipts from sale of maps and patent-searching reports, receipts from sale of plants, and interest on these items - subject to conditions that the Society not engage in commercial activity, that activities and the nature of specified income remain unchanged, and that the Society files returns under clause (g) of sub section (4C) of section 139; effective for AYs 2016-17 to 2020-21 as specified.

Tax exemption under Section 10(46) extends to specified regulatory commission income subject to non-commercial and filing conditions.
Notification under Section 10(46) exempts specified receipts of Tripura Electricity Regulatory Commission - grants from the State Government; annual licence and petition fees under the Electricity Act; tender fees/earnest money; and interest on those receipts - subject to conditions: no commercial activity, unchanged nature of receipts across years, and filing returns as required by clause (g) of sub-section (4C) of section 139.

Tax exemption for Gujarat Water Supply and Sewerage Board under section 10(46) covers specified income subject to conditions.
Central Government notifies Gujarat Water Supply and Sewerage Board under clause (46) of section 10 to exempt specified income: grants from Government, local bodies and other agencies; deposits from local bodies; centage at State-prescribed rates; water charges at State-fixed tariffs; rent under the Gujarat Water Supply and Sewerage Act, 1978; and interest on these receipts. The exemption is conditional on no commercial activity, unchanged activities and income nature, and prescribed return filing; it applies to specified past and future assessment years noted in the notification.

Tax exemption notification for SEZ authority specified incomes subject to non commerciality and statutory filing obligations.
Notification under clause (46) of section 10 designates Kandla Special Economic Zone Authority, Kutch as entitled to exemption for specified income including lease rent (with interest and penalty), I Card and permit fees, auction/bid proceeds for vacant plots/buildings, transfer charges, processing fees for building plans, site usage and water charges (with interest and penalty), licence fees for staff quarters, and interest on these receipts, subject to conditions of no commercial activity, unchanged nature of activities and income, and filing returns under clause (g) of sub section (4C) of section 139; effective for assessment year 2018 2019 through 2022 2023.

Tax exemption under section 10(46): specified council fees exempted subject to non-commercial and filing conditions.
Notification under section 10(46) notifies Rajasthan State Dental Council, Jaipur as a notified body for specified receipts-application form sales; renewal, registration, qualification, late, no objection, duplicate certificate, good standing and Continuing Dental Education fees; and interest on those receipts-subject to conditions that the Council not engage in commercial activity, that the activities and nature of the specified income remain unchanged, and that it file returns under section 139(4C)(g); the notification applies retrospectively to assessment years 2017-2018 and 2018-2019 and for 2019-2020 through 2021-2022.

Tax exemption for regulatory board: specified receipts exempted subject to non-commercial and return-filing conditions.
Notification under clause (46) of section 10 designates Petroleum and Natural Gas Regulatory Board, New Delhi, as exempt in respect of specified income comprising Central Government grants, other grants, fees and penalties, sums approved under its constitutive statute, and interest on deposits, subject to conditions that the Board shall not engage in commercial activity, that its activities and the nature of specified income remain unchanged across the relevant financial years, and that it files income-tax returns in accordance with the prescribed provision.

Tax exemption for regulatory commission: specified income exempt under conditions barring commercial activity and requiring specified return filing.
Notification under section 10(46) of the Income tax Act, 1961 notifies the Uttar Pradesh Electricity Regulatory Commission as a commission entitled to exemption for specified income comprising Government grants, licence fees and fines, and interest on those receipts. The exemption is conditional on UPERC not engaging in commercial activity, maintaining unchanged activities and specified income across financial years, and filing returns as required by clause (g) of sub section (4C) of section 139. The notification applies retrospectively to assessment years 2017 2018 and 2018 2019 and to assessment years 2019 2020 through 2021 2022.

Exchange of information: amended tax treaty requires broad information sharing with confidentiality and data protection safeguards.
The Protocol replaces Article 26 to require the competent authorities to exchange foreseeably relevant information for administration or enforcement of domestic taxes, subject to confidentiality and use limits; information received must be treated as secret and disclosed only to designated persons or authorities for tax assessment, collection, enforcement, prosecution, appeal determination or oversight, with other uses permitted only where both States' laws allow and the supplying State authorises; a requested State must use its information gathering measures even if it has no domestic interest; bank or fiduciary secrecy alone cannot justify refusal; agencies must protect personal data against unauthorized access, alteration and disclosure.

Fair market value of inventory defined for conversion to capital asset under amended income-tax rules, clarifying valuation methods.
Amendments specify that audited balance-sheets as drawn up on the valuation date must be used for valuation documentation, and establish that fair market value, when inventory is converted to a capital asset, is: stamp-duty value for immovable property; the prescribed valuation method for jewellery, art and specified securities; and otherwise the open-market sale price on the conversion date.

Tax exemption eligibility under section 10(22B): Press Trust of India designated as news agency subject to income-use conditions.
Central Government designates The Press Trust of India Limited as a qualifying news agency under section 10(22B), conditioned on applying or accumulating its income solely for collection and distribution of news and not distributing income to its members.

Research deduction approval for a university institution requires exclusive-use of donations, audited research accounts and annual disclosures.
Approval is granted to M/s C.B.C.I. Society for Medical Education, Bengaluru as a university/college engaged in scientific, social science or statistical research from assessment year 2018-2019, subject to conditions that receipts be used exclusively for research conducted by faculty or students, separate books of account be maintained and audited with the audit report and a certified statement of donations furnished to tax authorities by the return due date, and that annual disclosures on research activities, publications, patents and planned projects with financial allocations be submitted; approval may be withdrawn for non compliance or cessation of genuine research.