Tax treatment for District Mineral Foundation Trusts: specified DMF receipts recognised as authority income subject to compliance and audit.
Notification under clause (46) of section 10 of the Income-tax Act designates District Mineral Foundation Trusts constituted under section 9B of the Mines and Minerals Amendment Act as a class of Authority for specified income: leaseholder contributions under the DMF Rules, interest and penalties from leaseholders, interest on DMF funds, savings account interest, and interest on excess funds in term deposits. The designation is subject to conditions: no commercial activity, unchanged activities and income across years, filing income-tax returns per clause (g) of sub-section (4C) of section 139, and filing an audited return with a chartered accountant's certificate.

Corrigendum corrects a Gazette notification by replacing the stated day with the following day in the published text.
Corrigendum amends the published Gazette notification by directing that, in G.S.R. 616(E), at page 2, line 16, the expression "26th" shall be read as "27th", and records the issuance of Notification No. 102/2021 (G.S.R. 619(E)) dated 7th September 2021 under the Department of Revenue for official recordation.

Electronic verification code authentication: logging into a registered account on designated portal deems record authenticated.
An electronic record submitted by an assessee or any other person by logging into their registered account in the Income-tax Department's designated portal shall be deemed authenticated under the electronic verification code; "designated portal" has the meaning assigned in the Explanation to the applicable statutory provision.

Specified senior citizen declarations for bank TDS under section 194P now require Form 12BBA and supporting evidence.
A new rule 26D requires specified senior citizens to furnish a paper declaration in Form No.12BBA; specified banks must, after applying Chapter VI-A deductions and section 87A rebate based on evidence furnished by the senior citizen, compute total income for the assessment year and deduct tax under section 194P at rates in force, maintain the declaration and evidence, and furnish particulars and evidence to authorized Principal Director General/Director General (Systems) or Commissioners on demand.

Specified Bank definition clarified as a scheduled banking company appointed as Reserve Bank agent; notification effective on publication.
The Central Government notifies that specified Bank means a banking company which is a scheduled bank and has been appointed as agents of Reserve Bank of India, with the terms "banking company" and "scheduled bank" to be understood by reference to their definitions in the Reserve Bank of India Act; the notification is effective from publication in the Official Gazette.

Tax exemption for Real Estate Regulatory Authority: specified receipts notified as exempt subject to compliance and audit filing.
Notification designates the Real Estate Regulatory Authority as a class of Authority for tax purposes, exempting specified receipts comprising government grants or loans/advances, fees or penalties received under the Real Estate Act, and interest on those amounts, subject to conditions: no commercial activity, unchanged nature of activities and receipts, filing of return under the prescribed provision for such authorities, and submission of audited report with accountant verification plus a chartered accountant's certificate confirming compliance.

Commencement date appointment: specified Income-tax Act provisos and subsections take effect from first September two thousand twenty-one.
The Central Government appoints 1st day of September, 2021 as the commencement date for the second proviso to sub section (1) of section 245 O, sub section (2) of section 245P, sub section (4) of section 245Q, sub section (8) of section 245R, sub section (3) of section 245S, sub section (3) of section 245T, sub section (3) of section 245U and the proviso to section 245V of the Income tax Act, 1961, by notification under the Act.

Boards for Advance Rulings constituted to issue advance rulings under the Income-tax Act, effective from 1 September 2021.
Constitution of Boards for Advance Rulings to provide advance rulings under the Income-tax Act. The Central Government establishes three distinct Boards for Advance Rulings, each with specified headquarters, to receive, consider and pronounce on applications under the statutory advance-ruling framework contained in the relevant chapter of the Act.

Taxable interest on provident fund excess contributions must be computed from segregated taxable contribution accounts.
Calculation of interest on provident fund contributions exceeding specified limits is governed by rule 9D: taxable interest equals interest accrued during the previous year in the taxable contribution account. Separate accounts for taxable and non-taxable contributions must be maintained from the previous year 2021-2022 onwards. The non-taxable account comprises the specified base closing balance, subsequent non-excess contributions and accrued interest, reduced by withdrawals; the taxable account comprises contributions in excess of the threshold and accrued interest, reduced by withdrawals. A statutory threshold limit determines when contributions are treated as taxable.

Vivad se Vishwas deadline extension: key notification shifts filing timelines by government amendment.
The Central Government amends Notification No.85/2020 under the Direct Tax Vivad se Vishwas Act, 2020, substituting clause (b) deadline "31st day of August, 2021" with "30th day of September, 2021" and clause (c) deadline "1st day of September, 2021" with "1st day of October, 2021"; the amendment is effective from publication in the Official Gazette.

Prescribed person under Insolvency and Bankruptcy Code authorised for ITR verification and authorised representation for companies and LLPs.
Rule 12AA designates as the prescribed person for verification of returns any person appointed by the Adjudicating Authority to discharge duties of an interim resolution professional, resolution professional, or liquidator under the Insolvency and Bankruptcy Code, 2016, with "Adjudicating Authority" defined as in clause (1) of section 5 of that Code. Rule 51B similarly provides that any person so appointed shall be the authorised representative for appearance in respect of a company or limited liability partnership.

Relief for corporate minimum tax where past-year APA or secondary adjustments increase book profit, reducing tax payable accordingly.
Relief reduces tax payable under sub-section (1) of section 115JB where past year income from an APA or secondary adjustment is included in current year book profit, using a formula that nets tax on book profit including and excluding past income and adjusts for aggregate tax on the original past years before and after inclusion; negative results are treated as zero. The relief reduces the section 115JAA tax credit by an equal amount, and must be claimed electronically in Form No.3CEEA with authorised verification and system filing procedures specified by the tax systems authority.

Interim Boards for Settlement established under section 245AA with designated headquarters to administer settlement functions.
Central Government, under section 245AA of the Income-tax Act, establishes Interim Boards for Settlement I-VII as separate entities and designates their headquarters: three in Delhi (I-III), one in Kolkata (IV), two in Mumbai (V-VI), and one in Chennai (VII).

Computation of exempt income: formula allocates specified fund income to non resident unit holders for tax treatment.
Rules prescribe formulae allocating specified fund income to non resident unit holders (excluding permanent establishments in India) using ratios based on aggregate daily or point in time assets under management for categories including capital gains on transfers in International Financial Services Centres, transfers of securities, income from non resident issued securities not accruing in India, and securitisation trust income. Annual electronic filing of verified statements in Form No.10IG and Form No.10IH is mandated, with procedural and systems responsibilities assigned to the Principal Director General/Director General of Income tax (Systems).

Special Court designation under section 280A assigns jurisdiction for tax and undisclosed foreign income offences to a designated court.
The Central Government, under section 280A of the Income-tax Act and the corresponding provision of the Black Money Act, in consultation with the Chief Justice of the High Court, designates the Court of the Special Judge for Economic Offences-cum-VIII Additional Metropolitan Sessions Judge-cum-XXII Additional Chief Judge, City Civil Court, Hyderabad, as the Special Court for the State to exercise jurisdiction over offences under those statutes.

Special Court designation under tax law enables dedicated trial jurisdiction for offences under income-tax and undisclosed foreign assets provisions.
The Central Government, under powers conferred by the income-tax enforcement provision and the black money legislation and in consultation with the Chief Justice of the High Court of Meghalaya, designates the court of the senior-most Judicial Magistrate First Class of East Khasi Hills District, Shillong as the Special Court for the State of Meghalaya to adjudicate offences within the scope of the income-tax enforcement provision and the undisclosed foreign income and assets provisions.

Special Court designation establishes specified magistrate courts in Gujarat to hear cases under the Black Money Act.
Central Government, invoking powers under the Income-tax Act and the Black Money Act and after consulting the Chief Justice of the High Court of Gujarat, designates specified Additional Civil Judges and Judicial Magistrates of First Class and a Metropolitan Magistrate as Special Courts, each mapped to a named district or city area in Gujarat to exercise jurisdiction for purposes of the Black Money Act.

Tax exemption for Real Estate Regulatory Authority: specified income notified exempt subject to conditions on activity, returns, and audit.
Notification treats the Real Estate Regulatory Authority constituted under the Real Estate (Regulation and Development) Act as a class of Authority for specified income comprising government grants/loans, fees/penalties from stakeholders, and interest thereon, subject to conditions: no commercial activity, unchanged nature of activities and income across listed years, prescribed income-tax return filing, and filing an audit report with a chartered accountant's compliance certificate.

Tax exemption under section 10(46) for National Council of Science Museums' specified income, subject to compliance and reporting.
Notification grants income-tax exemption to National Council of Science Museums, Kolkata, for specified income: government grants-in-aid and subsidies; ticket fees or subscriptions; maintenance charges for auditoria and public scientific/educational facilities; and interest on investments. Exemption is subject to conditions: no commercial activity, unchanged nature of activities and specified income during the applicable financial years, filing of return of income as prescribed, and submission of an audit report verified by the accountant plus a chartered accountant's certificate confirming satisfaction of these conditions.

Specified person status under clause 23FE sec 10 permits pension fund tax exemption for eligible India investments subject to compliance.
Specification of 2726247 Ontario Inc. as a specified person under clause (23FE) of section 10 for eligible investments in India until 31st March, 2030, subject to conditions including timely return filing, Form No. 10BBC certification, quarterly Form No. 10BBB reporting, segmented accounts, continued regulation under Ontario law, administration of assets to meet statutory obligations for retirement and similar plans, limitation on non-core assets, prohibition on borrowings for India investments, and restriction of day-to-day participation in investees.