Notification under section 10(23C)(v) grants tax-exempt status subject to rules on income application and permitted investments.
Notification under section 10(23C)(v) grants tax-exempt status to Shri Jain Swetamber Nakoda Parsavanath Tirth for specified assessment years subject to conditions: exclusive application or accumulation of income to its objects; investment or deposit only in forms specified in section 11(5) (excluding certain voluntary contributions in tangible form); non-application to business income unless incidental and separately accounted; regular filing of returns; and transfer of surplus and assets on dissolution to a similar organization.

Corrigendum to income tax notification corrects fiscal year reference in the operative text, amending the assessment-year designation.
Corrigendum rectifies the fiscal-year reference in a prior income tax notification by replacing the text "2004-2005" with "2005-2006" in notification S.O. 718(E) dated 25th May, 2005, as published in the Gazette, thereby correcting the operative textual reference without altering the notification's scope.

Section 35AC exemption extended for specified school scheme; project remains eligible following government notification and committee recommendation.
The Central Government specifies the project of running a school for mentally retarded children by Sabarkantha Charitable Trust as an eligible project under Section 35AC for income-tax exemption purposes, continuing eligibility without change in the approved estimated cost and relying on prior notifications and a recommendation of the National Committee under rule 11M(5) of the Income-tax Rules to extend the scheme for a further period commencing from the stated financial year.

Tax exemption recognition under section 10(23C)(iv) granted to NGO, subject to income application, investment and filing conditions.
Notification under section 10(23C)(iv) recognises the Indian National Trust for Art and Cultural Heritage for assessment years 2005-06 to 2007-08, subject to conditions: apply income wholly and exclusively to its objects; restrict investments to modes permitted by section 11(5) (except certain voluntary contributions); exemption excludes business income unless incidental and maintained in separate books; file income tax returns regularly; and on dissolution transfer surplus and assets to a charitable organisation with similar objectives.

Tax exemption recognition under section 10(23C)(iv) granted subject to exclusive application of income and compliance conditions.
Notification under Section 10(23C)(iv) recognises The Institute of Road Transport, Taramani, Chennai for assessment years 2000-01 to 2002-03 subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments to modes specified in Section 11(5) (except certain voluntary contributions); exclude business income unless incidental with separate books; regularly file income-tax returns; and on dissolution transfer surplus and assets to a like-minded organisation.

Tax exemption notification grants conditional recognition subject to exclusive application of income, investment limits, reporting and dissolution rules.
The Institute of Road Transport, Taramani, Chennai is recognized under notification under section 10(23C)(iv) subject to conditions: apply or accumulate income wholly and exclusively to its objects; restrict investments to modes specified in section 11(5); exclude business income unless incidental and separately accounted; file regular returns; and on dissolution transfer surplus and assets to an organisation with similar objectives.

Tax treaty amendment: Article 23 paragraph reference revised to alter internal cross references under executive authority.
The Central Government amends the India-Portugal tax convention by substituting "paragraphs 1 and 2" with "paragraphs 2 and 3" in paragraph 5 of Article 23, exercising powers under Section 90 of the Income tax Act after receiving Portugal's acceptance through the Ministry of External Affairs, thereby modifying the treaty's internal cross references in Article 23.

Tax exemption for specified foreign suppliers: royalty and technical fees excluded from taxable income under notified agreement.
Statutory declaration excluding from total income the royalty and fees for technical services received by specified foreign companies under a government procurement and technology-transfer agreement for aircraft supplies and acquisition of manufacturing rights and engine technology.

Holding-period requirement removed from rule 2BB, altering the temporal condition for a specified tax entry.
The Income-tax (22nd Amendment) Rules 2005 amend the Income-tax Rules, 1962 by omitting the words and figures "for a period of more than 30 days" from column 2 against serial number 9 in the table to sub rule (2) of rule 2BB, pursuant to powers under section 295 read with clause (14)(ii) of section 10 of the Income-tax Act, 1961; the amendment is notified in Notification No. 197/2005 and is to come into force on 1 April 2006.

Jurisdictional allocation of transfer pricing authorities reorganised, dividing taxpayers by name initials across specified territorial limits.
CBDT amends administrative jurisdiction by substituting entries to allocate three Joint Commissioners of Income tax (Transfer Pricing Officers I-III) at Mumbai responsible for the territorial limits of Maharashtra, Gujarat, Madhya Pradesh and Daman & Diu; taxpayers are assigned to TPO I, II or III based on the initial letter of their name (A-E, F-P, Q-Z) where they are assessed or assessable within the Assessing Officer's territorial office.

Research donation deduction approval requires separate research accounts, audited returns and auditor certification for donor-eligible receipts.
Approval is granted to Himalayan Institute Hospital Trust for purposes of research donation deductions, subject to maintenance of separate research accounts, submission of audited Income and Expenditure accounts for each approved year to the relevant tax officer by the later of the return filing due date or the notification period, and furnishing an auditor's certificate specifying amounts received eligible for donor deduction and certifying that expenditure was for scientific research.

Approval under Section 35(1)(ii): donors' deduction permitted subject to separate research accounts and auditor certification.
Approval under Section 35(1)(ii) is granted to The Voluntary Health Services, Chennai as an institution partly engaged in research for 1-4-2003 to 31-3-2006, subject to conditions: maintain separate accounts for research; submit audited Income and Expenditure accounts for research each approved year to the Commissioner/Director by the income tax return due date or within 90 days of the notification, whichever is later; and supply an auditor's certificate specifying amounts received for scientific research eligible for donor deduction and certifying that expenditure was for scientific research.

Approval under Section 35(1)(ii) requires separate research accounts, audited filings, and auditor certification for qualifying donations.
Banaras Hindu University is approved as an eligible university partly engaged in research for donor deductions; it must maintain separate research accounts, file audited Income and Expenditure accounts for each approved year by the return filing due date or within ninety days from the notification, and include an auditor's certificate specifying amounts received for qualifying scientific research and certifying that expenditures were for scientific research.

Tax exemption recognition under section 10(23C)(iv) requires exclusive charitable application, permitted investments, and return filing.
Notification under section 10(23C)(iv) notifies Indian Merchants Chamber, Mumbai for AY 1998-99 to 2000-01 subject to conditions: apply or accumulate income wholly and exclusively to its objects; invest or deposit funds only in forms specified in section 11(5) (excluding certain voluntary contributions held as jewellery or furniture); treat business income as taxable unless incidental and maintained in separate books; regularly file returns under the Income-tax Act; and on dissolution transfer surplus and assets to a charitable organisation.

Tax exemption notification grants charitable status to Victoria Technical Institute for specified assessment years subject to compliance conditions.
Notification under Section 10(23C)(iv) authorises Victoria Technical Institute for assessment years 2002-03 to 2004-05 subject to conditions: income must be applied or accumulated wholly for its objects; investments restricted to permitted modes (excluding certain voluntary tangible contributions); business income excluded unless incidental and separately accounted; regular filing of returns required; and surplus/assets on dissolution must be transferred to a charitable organisation.

Research deduction eligibility: approval enables donors' deductions subject to accounting and audit certification requirements for social science research.
Approval of Centre for Research in Rural & Industrial Development (CRRID) under Section 35(1)(iii) is notified for the period 1-4-2001 to 31-3-2004 as a university/college or institution partly engaged in research. Conditions require maintenance of separate accounts for research, submission of audited Income and Expenditure accounts for each approved year to the tax authority by the return due date or within ninety days of the notification, and an auditor's certificate specifying amounts qualifying donors for deduction and certifying that expenditure was for social science/statistical research.

Cost Inflation Index framework updates the indexed-cost table for financial year 2005-06 under capital gains computation rules.
Cost Inflation Index for financial year 2005-06 was specified under the Explanation to section 48 of the Income-tax Act, 1961. The existing Cost Inflation Index table was amended by inserting the applicable index for that financial year, based on the prescribed proportion of the average increase in the Consumer Price Index for urban non-manual employees during the preceding financial year.

Specification of India Millennium Deposits as qualifying deposits under section 10 clause 15, defining their tax classification.
The Central Government specifies India Millennium Deposits as deposits for the purposes of clause (15) of section 10 of the Income Tax Act; these are bank instruments representing foreign currency denominated deposits issued in the form of promissory notes by a bank constituted under the State Bank of India Act and are thereby classified as deposits under the statutory sub clause.

Exemption under section 35AC: Government approves institutions and specifies eligible projects and deductible costs for three financial years.
Central Government approves specified charitable and welfare institutions and, for each, specifies eligible projects or schemes together with estimated project costs and the maximum portion of those costs allowable as deductions under the tax exemption regime; the approvals and deduction caps operate for a fixed three year period in relation to three consecutive financial years, and subsequent notes record substitutions and an omission affecting table entries.

Approval under Section 35(1)(ii) allows donor deductions subject to separate research accounts, audited filing and auditor certification.
Approval is granted to Schizophrenia Research Foundation (India) under Section 35(1)(ii) as an institution partly engaged in research, subject to conditions: maintain separate accounts for research; submit audited Income and Expenditure accounts for each approved year to the Commissioner or Director of Income-tax (Exemptions) by the due date for filing returns or within ninety days of the notification, whichever is later; and provide an auditor's certificate specifying amounts received for qualifying scientific research and certifying that the expenditure was incurred for scientific research.