Amendment to Kisan Vikas Patra removes prescribed maturity limit in rule 13A, changing certificate holding period.
Amendment omits the words "for a maximum period of two years" from rule 13A of the Kisan Vikas Patra Rules, 1988, effected under powers conferred by section 12 and coming into force on publication in the Official Gazette, thereby removing the prior prescribed time limitation in that rule.

Post Office Time Deposit amendment removes fixed maximum tenure restriction, enabling unspecified longer deposit terms under amended rule.
The amendment removes the phrase imposing a maximum-term limitation from rule 9 of the Post Office Time Deposit Rules, 1981, thereby withdrawing the regulatory ceiling on permissible time deposit tenure; the change is made under the rulemaking power of section 15 of the Government Savings Banks Act, 1873 and takes effect upon publication in the Official Gazette.

Post Office Monthly Income Account rules amended to remove the two-year maximum restriction from rule 9A.
The Central Government, exercising statutory power under section 15 of the Government Savings Banks Act, 1873, issues the Post Office (Monthly Income Account) Amendment Rules, 2011 (G.S.R. 741(E)), effective on publication in the Official Gazette. The amendment deletes the words "for a maximum period of two years" from rule 9A of the Post Office (Monthly Income Account) Rules, 1987, removing that temporal limitation.

Simple interest entitlement for retained post office recurring deposits after maturity clarified; monthly deposit timing rules updated.
Amendments require the first monthly deposit at account opening and set deadlines for subsequent monthly deposits based on the account opening date. They also entitle depositors who retain amounts beyond maturity, whose accounts are discontinued, or whose defaults remain unrectified, to simple interest at the rate for post office savings accounts from the date of maturity until account closure; Rule 9A's wording is changed to specify simple interest and Rule 11 is supplemented to secure the same entitlement after the completion of the required monthly deposits during the maturity period.

Exchange of Tax Information: Enables cross border provision of foreseeably relevant information for tax administration and criminal tax matters.
The Agreement under section 90 establishes a bilateral regime for the exchange of information between India and the British Virgin Islands, obliging competent authorities to provide, upon request, foreseeably relevant information for tax administration and enforcement, including ownership and financial institution data. It prescribes the required content of requests to demonstrate foreseeable relevance, timelines for acknowledgement and response, obligations to employ available information gathering measures subject to domestic law, permissible grounds for declining requests, confidentiality protections, cost allocation rules, implementing legislation, language of communication, and a mutual agreement procedure for resolving interpretation or implementation issues.

Deduction under section 35AC: notified social welfare projects approved for specified multi year tax deductions.
Notification under Section 35AC notifies specified institutions and approves particular social and economic welfare projects, specifying for each the estimated project cost and the maximum amount of that cost which may be allowed as a deduction under the provision, and fixes the period of approval (generally three financial years commencing with 2011-12, with limited exceptions).

Scientific research expenditure exemption: CSIR approved subject to utilisation, audit, recordkeeping and withdrawal for noncompliance.
Approval of CSIR as an Other Institution for research expenditure exemption is granted subject to conditions: funds must be used for scientific research carried out by faculty or enrolled students; separate books of account for research receipts and applications must be maintained and audited by an accountant with the audit report filed by the income tax return due date; a separately certified statement of donations and amounts applied to research must accompany the audit report. The Central Government may withdraw approval for failures to maintain books, furnish audit report or certified donation statement, ceasing genuine research, or noncompliance with approval conditions.

Tax-free bonds set conditions on tenure, interest floor, commission caps and registration requirements for issuers.
The Central Government authorised specified public sector entities to issue tax-exempt secured redeemable non-convertible bonds in FY2011-12 within allocated aggregate limits, subject to conditions: ten- or fifteen-year tenure; mandatory Permanent Account Number for subscribers; interest rates no less than specified floors relative to Government Security yields (with a less stringent floor for public issues); capped commission rates for public and private placements; and a requirement that bondholders register their name and holding with the issuer for the tax benefit to apply.

Research expenditure exemption: approval requires specified compliance, accounting and audit obligations for university research activities.
Exemption under the Income-tax Act for research expenditure has been granted to Mangalore University as a University, subject to utilization of sums for social science or statistical research, conduct of research by faculty or students, maintenance of separate books of account for research receipts and application, submission of an auditor's report by the return due date, and provision of a certified statement of donations and amounts applied for research. Approval is withdrawable for failure to maintain accounts, furnish reports or statements, cease genuine research activity, or otherwise fail to comply with clause (iii) of sub-section (1) of section 35 read with the rules.

Long Term Infrastructure Bond sets issuer eligibility, tenure and lock in, PAN, yield cap, end use and reporting obligations.
Specifies Long Term Infrastructure Bond for deduction under section 80CCF with named eligible issuers, an issuance limit tied to prior year incremental infrastructure investments (broadly defined), mandatory PAN for subscribers, a minimum tenure and investor lock in with post lock in exit and pledging options, a yield cap linked to government securities as per FIMMDA, and mandatory end use for RBI defined infrastructure lending with auditor certification and filing of term sheets to the Infrastructure Division.

Exemption for UPSC allowances and perquisites clarified, covering serving and retired members and applied retrospectively.
Notification under clause (45) of section 10 identifies specified exempt allowances and perquisites for Union Public Service Commission members: for serving members, rent free official residence, conveyance including transport allowance, sumptuary allowance, and leave travel concession; for retired members, a monthly sum for orderly and secretarial assistance and a residential telephone facility with an allocation of free calls. The notification is effective retrospectively from 1 April 2008.

Double taxation agreement adoption establishes residency, permanent establishment rules, withholding caps and information exchange framework.
The Central Government, exercising powers under Section 90A of the Income tax Act, adopts the Agreement between India Taipei Association and the Taipei Economic and Cultural Center for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income; the Agreement applies to residents of the two territories and taxes on income, sets rules on residence, permanent establishment, source taxation (including withholding caps for dividends, interest and royalties/fees for technical services), elimination of double taxation, mutual agreement procedure, exchange of information and assistance in tax collection, and contains limitation of benefits and termination provisions.

Exchange of information expanded: protocol requires mutual tax information gathering and sharing, including financial institution-held data for tax administration.
The Second Protocol replaces Article 28 to require competent authorities to exchange information foreseeably relevant for implementing the Agreement or administering and enforcing domestic tax laws, subject to confidentiality and use restrictions limited to persons and authorities concerned with assessment, collection, enforcement, prosecution, appeals and oversight. It obliges States to employ information gathering measures even without domestic interest, while preserving limitations where information is unobtainable under law or would disclose protected trade secrets or contravene public policy, and disallows refusal solely because information is held by banks or fiduciaries.

Amendment to notification under Income-tax Act: redefined subordinate officer list for Director General of Income-tax (Investigation), Chandigarh.
Amendment replaces serial number 9 in Schedule-I to the notification, designating the Director General of Income-tax (Investigation), Chandigarh and specifying associated subordinate offices: Commissioner of Income-tax (Central), Ludhiana; Director of Income-tax (Investigation), Panchkula; Director of Income-tax (Investigation), Ludhiana; Commissioner of Income-tax (CIB), Chandigarh; and Commissioner of Income-tax (Central), Gurgaon.

Notification amendment alters income-tax administrative assignments and subordinate Commissioner jurisdictions for specified divisions.
The Board amends Schedule I of the cited notification by substituting the entry for serial number 3 to designate the Chief Commissioner of Income-tax, Delhi-III and list three subordinate Commissioners (Delhi-III; TDS-I Delhi; TDS-H Delhi), and by substituting the entry for serial number 83 to designate the Chief Commissioner of Income-tax, Meerut and list four subordinate Commissioners (Ghaziabad; Mujaffarnagar; Aligarh; NOIDA).

Subordination of Additional Commissioner to Commissioner establishes administrative reporting under a statutory direction for income-tax control.
The Central Board of Direct Taxes, exercising powers under section 118 of the Income-tax Act, directs that the Additional Commissioner of Income-tax (Central Range) Chandigarh shall be subordinate to the Commissioner of Income-tax (Central) Gurgaon, establishing a supervisory reporting relationship between those offices.

Jurisdiction allocation under section 120: notification redefines territorial assessment responsibilities and taxable person categories for income tax administration.
Amendment substitutes serial number 100 in Schedule I to reassign the territorial jurisdiction of the Commissioner of Income-tax, Raipur and prescribes three categories of taxable persons within the specified territorial area: non-corporate residents with non-business income, non-corporate persons with business income whose principal place of business lies in the area, and companies having registered office in the area, with the Commissioner handling all cases relating to those categories.

Jurisdiction of Intelligence and Criminal Investigation directs income tax directors to exercise nationwide investigative and information collection powers.
The Board directs the Director General (Intelligence & Criminal Investigation) to exercise powers corresponding to listed Directors of Income-tax for their territorial areas, while Directors named in the schedules are assigned specified territorial jurisdictions and are empowered to exercise all functions under Chapter XIIIC and related powers under the Income-tax Act, including issuing written orders to subordinate authorities and conducting collection, collation, verification and dissemination of information within their areas.

Notification amendment: replacement of Schedule wording to redefine the class of persons affected under the tax notification.
Corrigendum amends the Schedule entry for serial number 112, column 6(b), replacing the prior phrasing with wording referring to all persons other than those mentioned in item (a) and (c) of column 6, while leaving all other contents of the original Gazette notification unchanged.

Deduction under section 35AC: notification approves specified institutions' projects and maximum deductible project costs for approved periods.
Notification under section 35AC designates specific institutions and approves listed projects and estimated costs, specifying the maximum portion of those costs that may be allowed as a deduction under section 35AC for the stated approval periods commencing with the 2011-12 financial year; most projects are approved for a three year period while one project is approved for a two year period as indicated.