Submission of COVID 19 medical evidence required for employer reimbursement under salary provisions, with retrospective applicability to assessment years.
The notification requires employees to submit (i) a COVID 19 positive report or treating physician/hospital medical report, (ii) documents of medical diagnosis or treatment for COVID 19 or related illness incurred within six months of being determined COVID 19 positive, and (iii) a certification of all expenditure incurred for treatment of the employee or any family member; the notification is effective from April first, 2020 and applies to the 2020-21 assessment year and subsequent years.

Transactions not regarded as transfer now include Bullion Depository Receipts with underlying bullion, excluding them from transfer.
The notification amends the earlier instrument to include Bullion Depository Receipt with underlying bullion within the list of transactions not regarded as transfer for capital gains, and adds an Explanation adopting the definition of that term from the Department of Economic Affairs' notification; it is effective from publication in the Official Gazette.

Tax exemption under section 10(46) for Telangana Pollution Control Board: specified non-commercial receipts notified subject to conditions.
Notification under clause (46) of section 10 notifies the Telangana State Pollution Control Board in respect of specified income categories including consent fees, analysis and survey fees, reimbursements for monitoring programmes, authorisation and cess fees, government grants, RTI fees, interest on staff loans, miscellaneous fees, penalties and interest on these receipts. The notification is subject to conditions: no commercial activity, unchanged activities and income nature, and filing returns as mandated, and is made retrospective for certain prior financial years pending the outcome of a Special Leave Petition.

Offshore derivative instruments and over-the-counter derivatives included in tax rule scope, extending applicability to specified derivative contracts.
The amendment to rule 21AK adds offshore derivative instruments and over-the-counter derivatives to the rule's scope and substitutes the Explanation to define key terms: derivative, non-deliverable forward contract, offshore banking unit, offshore derivative instrument, over-the-counter derivatives, and permanent establishment, thereby clarifying the rule's applicability to these specified instruments and entities.

E-verification deadline shortened to thirty days after electronic transmission, late verification treated as delayed filing with consequences.
For returns electronically transmitted on or after the notification's effective date, taxpayers must complete e-verification or submit form ITR V within thirty days of transmission; if done within thirty days the transmission date is the date of furnishing, but if done later the verification date is treated as the furnishing date and late-filing consequences apply. Returns transmitted before the effective date remain subject to the earlier extended period. ITR V must be dispatched by speed post to the Centralised Processing Centre, and the date of dispatch is used to determine compliance with the thirty-day requirement.

PAN application via FiLLiP enables PAN allotment for newly incorporated LLPs through MCA transmission to tax authorities.
Newly incorporated Limited Liability Partnerships may apply for PAN through the Simplified Proforma (Form: FiLLiP). Applications must be filed in FiLLiP using the applicant's Digital Signature. After generation of the LLP Identification Number (LLPIN), the Ministry of Corporate Affairs will forward the data in Form 49A to the Income-tax Authority under its digital signature (Class 2/Class 3). The prescribed exchange format is XML.

Specified person status under section 10(23FE) grants CPPIB Credit Investments VI Inc tax exemption subject to compliance.
CPPIB Credit Investments VI Inc. is specified as the specified person under clause (23FE) of section 10, subject to conditions: timely filing of returns; certificate in Form No. 10BBC; quarterly investment intimation in Form No. 10BBB; maintenance of segmented accounts; continued regulation under Canadian law; administering assets for statutory retirement or similar plans; exclusive use of earnings and assets for beneficiaries; no borrowings to make investments in India; and no participation in investee day-to-day operations.

Specified income exemption ensures license and application fees plus related interest are exempt subject to compliance.
The Central Government notifies the Odisha Electricity Regulatory Commission for exemption of specified income comprising license fee, application processing fee, and interest on Government grants and those receipts, subject to conditions that the Commission shall not engage in commercial activity, the activities and nature of specified income remain unchanged, and the Commission files returns as required; the notification is applied retrospectively to the indicated financial year and to subsequent specified financial years.

TDS on virtual digital asset transfers: textual corrigendum clarifies the reference for due date and higher-rate deduction applicability.
The corrigendum amends Notification No. 67/2022 by replacing the letter "T" with "U" at a specified place, clarifying the textual reference that governs the due date for deduction and deposit of TDS on transfer of virtual digital assets, including situations where a higher deduction rate applies under section 206AB for non-filers of income-tax returns.

Electronic filing requirement: specified tax forms and reports must be furnished and verified electronically under Rule 131.
Certain prescribed Forms, returns, statements, reports and orders listed in Appendix II must be furnished electronically and verified as prescribed under sub rule (1) of Rule 131 of the Income tax Rules, 1962. The Director General of Income Tax (Systems), with Board approval, invokes sub rule (1) and sub rule (2) of Rule 131 to require electronic submission and prescribed verification for the listed documents, including the Annual Compliance Report on Advance Pricing Agreement (Form 3CEF).

Deferment of appeal filing requires an Assessing Officer's application in Form 8A identifying identical questions of law and related cases.
An application to defer filing of an appeal before the Appellate Tribunal or the jurisdictional High Court must be made in Form No. 8A by the Assessing Officer; the Form requires appellant and respondent details, assessment year, declared income, particulars of the order (section and sub-section, dates), the authority passing the order, the State and District of the jurisdictional Assessing Officer, the specific questions of law sought to be deferred with total tax effect, details of other cases relied upon, the due date for filing under the deferment provision, and a certification and verification that the questions of law are identical and pending in the relevant higher forum.

Transfer pricing hierarchy revised: commissioners now explicitly subordinated to specified chief commissioners under tax notification.
Amendment under section 118 revises the supervisory hierarchy by replacing "Table" with "Schedule" and substituting clause (c) to provide that the Commissioner of Income-tax in column (4) of the Schedule shall be subordinate to the Chief Commissioner of Income-tax in column (3); the Schedule is amended to insert Chief Commissioner of Income-tax (International Taxation), Delhi in Serial Number 1, column (3).

Tax exemption for Bihar electricity commission: licence fees, application fees and related interest exempted subject to conditions.
Notification under clause (46) of section 10 exempts specified income of Bihar Electricity Regulatory Commission: licence fees from electricity licensees; application processing fees; and interest on Government grants and on those fees. Exemption is conditional on the Commission not engaging in commercial activity, maintaining unchanged activities and the nature of specified income across the relevant financial years, and filing its return of income as required under the referenced filing provision.

Capital gains exemption condition: resident participation cap for original funds on transfers to Category III AIFs affects eligibility.
A new rule requires that, to qualify for the capital gains exemption when a capital asset is transferred from an original fund to a resultant fund that is a Category III Alternative Investment Fund, the aggregate participation or investment in the original fund by persons resident in India must not exceed a specified small proportion of the fund's corpus at the time of transfer; the terms original fund and resultant fund are as defined in the Explanation to section 47.

Tax exemption under section 10(46) for Uttar Pradesh Electricity Regulatory Commission notified subject to non-commercial activity and filing conditions.
The Central Government notifies Uttar Pradesh Electricity Regulatory Commission as eligible for income-tax exemption in respect of government grants, licence fees and fines, and interest on those receipts, subject to conditions that the Commission shall not engage in commercial activity, that the nature of activities and specified income remain unchanged during the financial years, and that the Commission files its return of income as prescribed; the notification applies retrospectively to 2021-2022 and for subsequent specified financial years through 2025-2026.

Corrigendum to tax notification corrects departmental designations and technical unit references to align official entries.
Corrigendum amends the Schedule of an income-tax notification by revising official designations and technical unit identifiers: the Principal Chief Commissioner designation is restated to include Tamil Nadu & Puducherry (Chennai); multiple items formerly assigned to higher-numbered Technical Units are read as Technical Unit-1 in their respective locations; and the Hindi column wording is changed to substitute the equivalent of "Principal Commissioner of Income-tax."

Exchange reporting obligation: exchanges must disclose amounts paid or credited where tax was not deducted in quarterly statements.
The corrigendum corrects typographical errors and clarifies that the Exchange must, when preparing the quarterly statement in Form No. 26QF, furnish particulars of amounts paid or credited on which tax was not deducted in accordance with the rules, thereby imposing a reporting duty on exchanges for instances where tax deduction at source was not effected.

Corrigendum to income tax notification swaps Mumbai office designations in Schedule II, correcting entries for specified items.
Corrigendum corrects typographical entries in Schedule-II of the Income Tax notification by directing that in column 4 item (v) the designation be read as "Mumbai - 4" and in column 4 item (vii) the designation be read as "Mumbai - 2", as a clerical amendment to the earlier notification published in the Gazette.

Non-fungible token designation clarifies which tokens qualify as virtual digital assets, excluding transfers that convey enforceable tangible ownership.
Specification designates tokens as non-fungible token virtual digital assets for income-tax classification but excludes tokens whose transfer effects a legally enforceable transfer of ownership in an underlying tangible asset; the notification takes effect upon publication in the Official Gazette.

Virtual digital asset exclusions narrow VDA definition to gift vouchers, loyalty points and subscriptions, altering taxable scope.
Central Government excludes from the virtual digital asset definition: gift cards or vouchers redeemable for goods, services or discounts; mileage, reward or loyalty points given without direct monetary consideration and redeemable only for goods, services or discounts; and subscriptions to websites, platforms or applications. The notification is effective from the date of publication in the Official Gazette.