Exemption under section 35AC extended for construction and running of specified primary school for further assessment years.
The Central Government, exercising powers under section 35AC, specified the construction, furnishing and running of Pranavananda Centenary Primary School at Village Kasuria, Nadia, West Bengal of Bharat Sevashram Sangha as an eligible project for a further three assessment years commencing from assessment year 1999-2000, at an estimated cost of twenty-two lakhs, following the National Committee's recommendation that the project was being executed properly and extended beyond the initial three year period.

Exemption under section 35AC: eligible free medical aid project's tax-exempt status extended for additional assessment years.
Central Government specifies extension of tax exemption under Section 35AC for Free medical aid to poor and destitute patients by Gujarat Sarvar Mandal at Ahmedabad as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000 at an estimated cost of twelve lakhs, following the National Committee's recommendation that the project is being executed properly.

Tax exemption under Section 35AC extended for tribal and backward welfare and well-digging projects, allowing continued eligible project specification.
The Central Government, under the Explanation to Section 35AC, specifies the Bharat Sevashram Sangha scheme-running tribal and backward-class welfare projects at specified locations and digging sixty wells in Ghatsila, Dhalbhum and Dumurai-as an eligible project for donor deduction purposes for a further three assessment years commencing from assessment year 1999-2000, following a National Committee recommendation and noting continuation beyond the original three-year period.

Exemption under section 35AC extended for construction of hostels and ashramsalas following National Committee recommendation.
Exemption under section 35AC is specified for construction of four hostels and development of ashramsalas by Shree Hanuman Vyayam Prasarak Mandal, originally notified for three years from assessment year 1996 97; upon a National Committee recommendation that execution was proper and the project would extend, the Central Government specified the same project as eligible for a further three assessment years commencing from assessment year 1999 2000 at the estimated cost set out in the notification.

Section 35AC exemption extension: Navajyoti Centre project specified as eligible for a further assessment-year period.
The Central Government, following the National Committee's recommendation under the Income-tax Rules, specified the Navajyoti Centre project of the Association for Advancement and Rehabilitation for Handicapped (Aaroh) - covering construction, equipment, furnishing and an associated corpus fund - as an eligible project or scheme for a further assessment-period, on the basis that the project is likely to extend beyond its initial term and is being properly executed.

Tax exemption under section 35AC extended for a specified polio rehabilitation project, preserving donor relief.
The Central Government re-specifies the Accelerated Programme to fight avoidable diseases and rehabilitate polio-affected poor patients run by Smt. Parsaben Narandas Ramji Shah (Talajawala) Society as an eligible project for tax exemption for a further three assessment years commencing 1999-2000 at an estimated cost of rupees one hundred seventy-nine lakhs thirty thousand, following a National Committee recommendation that the project is being executed properly.

Exemption under section 35AC: specification extended for Integrated Rural Development Programme, permitting continued tax-eligible project status.
Central Government specifies the Integrated Rural Development Programme at Kodinar Taluka of Ambuja Cement Foundation as an eligible project under section 35AC, following the National Committee's recommendation that the project is being executed properly, and extends the specification for a further two assessment years commencing from assessment year 1999-2000.

Exemption under section 35AC extended to sports infrastructure project, renewing eligible status for additional assessment years.
The Central Government specifies the construction and equipment of an indoor stadium, swimming pool, cinder track and playground at Amravati, Hatru, Harisal and Achalpur of Shree Hanuman Vyayam Prasarak Mandal as an eligible project for tax exemption under the investment linked provision, at an estimated project cost, and extends the project's eligible status for a further three assessment years following recommendation by the National Committee.

Section 35AC tax exemption extended for Mangalam Medical Rehabilitation project after National Committee recommendation.
The Central Government specified the construction, furnishing and equipment of Mangalam Medical Rehabilitation and Research Centre as an eligible project under section 35AC and, following a National Committee recommendation that execution was satisfactory and that the project would extend beyond the initial three years, extended the specification for a further three assessment years commencing from assessment year 1999-2000 at an estimated cost of thirty eight lakhs seven thousand.

Exemption under section 35AC extended for sports hostel project, granting eligibility for deductions over three further assessment years.
The Central Government re specified the construction and furnishing of sports hostels "Faqir Kutir" and "Arohan" at Van Niwas, Nainital of Sri Aurobindo Ashram-Delhi Branch as an eligible project for tax exemption purposes, following the National Committee's recommendation that the project was being executed properly, and extended its eligibility for a further three assessment years commencing with assessment year 1999 2000 at the estimated project cost.

Section 35AC approval permits deduction for specified corporate-funded social development project in Haryana over defined assessment years.
Approval under section 35AC applies to Maruti Udyog Limited's social development work at Mulahera, Dundahera and Sirhoul, District Gurgaon, Haryana, with the Central Government specifying the estimated project cost and the maximum amount allowable as a deduction; the notification remains in force for a three-year period covering the designated assessment years.

Exemption under section 35AC: specified charitable projects approved with capped deductible costs for defined assessment years.
Approval is granted for specified charitable institutions and their listed projects or schemes to qualify for exemption under section 35AC, with the notification listing each institution, describing the eligible activity, giving the estimated project cost and specifying the maximum amount of that cost which may be allowed as a deduction; the approvals are limited to the period and assessment years stated and certain cost figures have been subsequently substituted by later notifications.

Mandatory return filing in specified urban agglomerations requires residents within designated municipal and development authority limits to file.
Notification designates specific urban agglomerations for the purpose of the proviso to the return filing provision of the Income tax Act, making return filing mandatory for persons resident within the municipal and development authority limits so specified, by reference to municipal corporation limits, development authority areas, cantonment or notified area committees, and state planning or municipal notifications as the operative geographic basis for the residency based filing obligation.

Floor area thresholds under section 139 set residential and commercial limits affecting presumptive return requirements.
The Central Board of Direct Taxes, under the proviso to section 139(1) of the Income tax Act, specifies citywise floor area thresholds: a uniform residential threshold for properties used for residential purposes (excluding huts and kutcha dwellings) and city specific commercial thresholds set out in the accompanying table, to serve the operative requirements of clause (i) of the proviso.

Charitable purpose expansion: new specified rural education, healthcare, creches, biofertiliser and road safety activities added.
Amendment inserts five specific charitable activities into Rule 11K, clause (i): rural educational institutions for women and children; rural hospitals and medical facilities for women and children; creches and schools for children of workers at factories or building sites; promotion of bacteria induced fertiliser production; and programmes for road safety, accident prevention and traffic awareness.

Limitation period for income tax rules reduced to ninety days, shortening timelines under rules 9A and 9B.
The Income-tax (Ninth Amendment) Rules, 1998, effective 1 April 1999, amend the Income-tax Rules, 1962 by substituting the words "one hundred and eighty days" with "ninety days" in rule 9A sub rules (2) and (3) and in rule 9B sub rules (2) and (3), reducing the prescribed time period in those provisions.

Tax-exempt priority sector bonds under section 10(15)(iv)(h) require holder registration with the issuer to secure tax-free status.
The Central Government specifies a particular seven-year National Housing Bank rural housing finance bond issue as tax-exempt priority sector bonds under the Income-tax Act provision corresponding to clause 15(iv)(h) of section 10; the issue is described by coupon, year, face denomination and distinctive serial numbers and the tax benefit is admissible only if the holder registers their name and holding with the issuing bank.

Double taxation avoidance: treaty allocates taxing rights and limits withholding taxes on cross-border income for residents.
The Agreement allocates taxing rights between the Contracting States for residents, defines residence and tie-breaker rules, and sets a detailed permanent establishment concept with inclusions and exclusions. It prescribes taxation rules for immovable property, business profits (attributable to a PE on an arm's-length basis), international traffic, associated enterprises, capital gains, dividends, interest and royalties (with capped source withholding rates where the recipient is beneficial owner). Relief is provided by tax credits, and cooperation is enabled through mutual agreement, exchange of information and assistance in tax collection.

Long-term specified securities under section 54EB designated for specified equity shares, subject to timing and transfer restrictions.
Equity shares issued by Messrs. Energy Development Company Ltd., Bangalore are designated as long-term specified securities under section 54EB, provided they are issued within one year of publication, subject to an aggregate issuance ceiling, and remain non-transferable for seven years from allotment.

Specified securities designation under section 54EA restricts transfer for three years and limits issuance to one year.
The Central Board of Direct Taxes designates shares to be issued by Energy Development Company Limited, Bangalore as specified securities under the income-tax provision. The designation applies to shares issued within one year from publication, subject to an aggregate issuance cap stated in the notification, and requires that such shares are not transferable before three years after allotment.