Corrigendum to income tax notification modifies specified assessing officer entries and replaces certain district entries.
Corrigendum modifies Notification No. 229/2001 by deleting the entry at Sr. No. 28 of column 4 ("(iii) Commissioner of Income tax, Chennai XI") and by replacing entries in column 3 at Sr. Nos. 42, 67 and 68 with the words "Thane," "Jalpaiguri," and "Durgapur" respectively; all other contents of the notification remain unchanged.

Corrigendum to notification correcting the registered name of the charitable entity in an Income Tax gazette entry.
Corrigendum correcting a prior gazette notification under the Income Tax framework to amend the identified beneficiary entity by replacing the previously notified name with the correct legal designation for the charitable trust associated with the eye institute.

Jurisdiction of income-tax authorities affirmed: designated commissioners retain and may delegate territorial and functional powers.
Notification directs that specified Commissioners of Income-tax shall perform functions in respect of the territorial areas, persons, incomes and classes of cases they were handling immediately before the earlier Board notification; requires subordinate Joint Commissioners and Assessing Officers to perform corresponding functions; authorises written orders for delegation from Commissioners to Joint Commissioners and from Joint Commissioners to Assessing Officers; annexed schedule designates Central Commissioners, their headquarters and the class of centralised cases to which this allocation applies.

Tax free municipal bonds specified; tax exemption conditioned on holders registering their name and holding with issuer.
Central Government specifies tax-exempt municipal bonds under clause (15) of section 10 of the Income-tax Act to be issued by the Municipal Corporation of Ahmedabad during the specified financial year; the tax exemption is admissible only if the holder registers his or her name and the holding with the issuing Municipal Corporation.

Prescribed authority for charitable exemptions clarified: approvals to be by Chief Commissioner or Director General, limited-term approvals.
The rule substitutes the authority for approval of educational and medical institutions to the Chief Commissioner or Director General, with the Central Board retaining authority for pre operative applications; applications must be made in Form No. 56D and approvals are limited to a maximum of three assessment years, with an explanatory jurisdictional definition tying the designated authority to the Assessing Officer's supervisory chain and corresponding amendments to Form No. 56D notes.

Jurisdiction assignment to Directors General centralizes exercise of income-tax powers over specified territories and officers, replacing prior allocations.
Notification under Section 120(1) and (2) designates specified Directors General of Income Tax (Investigation), with headquarters listed, to exercise the powers and perform the functions of the named Commissioners and Directors of Income-tax for the territorial areas and classes of cases set out in the Schedule, superseding earlier notifications except as to prior acts, and taking effect from 1-8-2001.

Territorial jurisdiction of income-tax authorities reallocated with structured delegation to commissioners, joint commissioners and assessing officers.
Central Board of Direct Taxes directs Commissioners of Income-tax, as listed in Schedule I, to exercise specified powers over designated territorial areas, persons and classes of income, and directs Commissioners in Schedule II to cover residual cases not assigned in Schedule I. Commissioners may authorise Joint Commissioners, who may in turn authorise Assessing Officers, by written orders. The notification defines 'residing' for various person types, allocates special subject-matter jurisdictions (e.g., salaries, professions, entertainment industry, stock-exchange participants), and fixes the commencement date while superseding earlier notifications prospectively.

Jurisdiction delegation centralises income tax authority in Chief Commissioners, with cascading authorisations for PAN matters to subordinate officers.
The notification delegates to Chief Commissioners listed in Schedule I the powers and functions of specified Commissioners of Income-tax for the territorial areas, persons, incomes or cases enumerated. Schedule II assigns jurisdiction over permanent account number matters to designated Chief Commissioners and provides that they may authorise Commissioners, who may further authorise Joint Commissioners, who in turn may authorise subordinate Assessing Officers to exercise PAN-related powers.

Income tax return form requires residents in specified areas to disclose luxury indicators and provide detailed income statements.
Substituted FORM NO.2C prescribes a return for persons not liable under section 139(1) but residing in specified areas who met any condition in the first proviso; it requires PAN and personal data, detailed disclosures for six specified trigger conditions (immovable property, motor vehicle, cellular subscription, foreign travel, credit card, club membership), a structured income and tax statement, attachments, and a verification declaring penal liability under section 277 for false statements.

Reporting of non-insurance commission now required in Forms 13 and 15AA under amended income-tax rules.
The Income-tax Rules, 1962 are amended to require Forms No. 13 and No. 15AA to expressly cover "commission (not being insurance commission) or brokerage" and to add schedules (Schedule IX and Schedule VIII respectively) that record the name and address of the person responsible for paying such commission or brokerage and the amount of that commission or brokerage.

Tax exemption under section 10(23G) granted to a lignite power project, subject to compliance and audit obligations.
Approval is granted to a 250 MW lignite based power project at Neyveli by ST CMS Electric Company Pvt. Ltd. for the purposes of section 10(23G) read with rule 2E, subject to compliance with those provisions. The approval is conditional on maintenance of books, audit by an accountant and furnishing the audit report as required by sub rule (7) of rule 2E; the Central Government may withdraw approval if the undertaking ceases to carry on the infrastructure facility or fails to meet those audit and reporting obligations.

Research institution approval under section 35(1)(iii) requires separate research accounts, DSIR returns and audited research accounts.
CARITAS India, C.B.C.I., New Delhi is approved as an institution for the research exemption under the Income-tax Act for 1-4-2000 to 31-3-2003, subject to maintaining separate research accounts; filing an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31 May; and submitting audited annual accounts and audited research income-and-expenditure accounts by 31 October each year to the Director-General of Income-tax (Exemptions), the Secretary DSIR, and the local Commissioner/Director of Income-tax (Exemptions).

Section 80L qualifying debentures specified, enabling tax benefit for listed bonds issued in the Flexibonds series.
Specification under Section 80L lists particular debentures as qualifying instruments by identifying bond types, face value, distinctive number ranges and, where applicable, Annual Interest and Cumulative Interest options, thereby defining which issued bonds fall within the statutory category for tax provision purposes.

Specified debentures under section 80L: identified IDBI bond series recognized as qualifying debentures for deduction purposes.
Central Government specifies particular debentures as specified debentures under clause (ii) of sub section (1) of section 80L, identifying four IDBI bond categories issued in the Flexibonds 8 series-Regular Income Bond, Growing Interest Bond, Floating Rate Bond and Infrastructure (tax saving) Bond-each defined by distinctive serial number ranges and a face value of five thousand rupees, and names Industrial Development Bank of India, Mumbai as the issuer.

Tax-free bonds confer exemption when issued by HUDCO and require bondholder registration with the issuer.
The notification designates specified Housing and Urban Development Corporation Limited bond series as tax-free securities with stated face values, interest rates, payment periodicity and tenors, and conditions the tax exemption on the holder registering their name and holding with the issuing Corporation.

Income tax rule amendment changes verification requirements and removes specified appendix forms for affected filers.
The amendment to the Income tax Rules revises rule 12(1)(b) by omitting one sub clause and substituting a provision that where total income excludes income chargeable under the head Profits and gains of business or profession, the return shall be furnished in Form No. 3 and verified as indicated; additionally, Appendix II omits Forms 2A and 2D.

Unrealised rent: conditions for deductibility clarified with tenant default, vacatur, no other occupation and legal steps requirement.
Defines unrealised rent as rent payable but not paid by a tenant proved lost and irrecoverable where the tenancy is bona fide, the defaulting tenant has vacated or steps taken to compel vacation, the tenant is not occupying any other property of the assessee, and the assessee has taken all reasonable steps to institute legal proceedings for recovery or shows legal proceedings would be useless.

Computation of capital gains in slump sale requires an accountant report certifying net worth calculation and supporting statements.
Form No. 3CEA prescribes an accountant's report for slump sale capital gains, requiring assessee and undertaking particulars, purchaser details, date and consideration, and a detailed net worth computation showing written down value of depreciable assets, book value of other assets, aggregate assets, liabilities attributable to the undertaking or division and the resultant net worth. The accountant must certify examination of records, proper computation of net worth, ignore revaluation adjustments, and file the form with the return of income accompanied by profit and loss account and balance-sheet; separate computations are required for each undertaking or division.

Research institution approval under section 35(1)(ii) requires annual scientific returns, audited research accounts, and separate books.
Marathwada Medical and Research Institute, Aurangabad, is approved as an institution under clause (ii) of sub-section (1) of section 35 of the Income-tax Act for 1-4-2000 to 31-3-2003, subject to maintaining separate research books, furnishing an annual scientific research return to the Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts and audited research income and expenditure accounts to the designated income-tax exemption authorities and the Department by 31 October each year.

Research institution approval requires separate research accounts and annual audited submissions to claim tax-related exemption.
Approval is granted to an institution for research-related tax exemption subject to compliance: maintain separate books for research activities; furnish an annual return of scientific research activities to the designated research department by the annual deadline; and submit audited annual accounts and audited income and expenditure accounts for research activities to specified tax and research authorities by the stated annual due date, in addition to its tax return. The institution must apply in triplicate and in advance for renewal of approval through the relevant tax authority and send copies to the research department.