Eligible project notification: extension and increased cost cap for mid-day meal scheme allowing continued deduction under section 35AC.
The Central Government notifies the Mid-day Meal Scheme run by Maria Seva Sangha, Bangalore, as an eligible project under section 35AC for a further three financial years commencing 2015-16, following a recommendation by the National Committee under rule 11M(5). The notification amends the earlier entry by increasing the maximum project cost ceiling in the original notification, thereby raising the cap on the amount of expenditure allowed as a deduction under section 35AC.

Section 35AC eligible project extension approved for Shri Kalyan Arogya Sadan Medical College for a further period.
The Central Government, on recommendation of the National Committee and pursuant to the Explanation to the relevant Income-tax provision and applicable Rules, notifies extension of eligibility for tax incentives for "Shri Kalyan Arogya Sadan Medical College" carried out by Shri Kalyan Arogya Sadan, Rajasthan, for a further three-year period commencing 2015-16, with no change to the approved project cost of Rs. 49.37 Crore.

Extension of eligible project under Section 35AC: Saksham empowerment scheme extended, approved cost unchanged, no certificate for lapsed year.
Notification extends the eligible project "Limiting limitations-empowerment of blind children, NCR region," carried out by Saksham, New Delhi, for a further period commencing with financial year 2014-15 through the following two years, on the recommendation of the National Committee, without any change in the approved project cost; no certificate will be issued for the lapsed financial year 2014-15.

Eligible project notification extends Mobility Camp scheme by Ratnanidhi Charitable Trust and increases approved project cost.
The scheme "Mobility Camp for the physically challenged" carried out by Ratnanidhi Charitable Trust is notified as an eligible project for a further three year period commencing with financial year 2015 16 and covering financial years 2015 16 through 2017 18, and the previously notified maximum allowable project cost is amended upward by substituting the earlier amount with the enhanced project cost as recommended by the National Committee for Promotion of Social and Economic Welfare.

Section 35AC eligibility extension for a notified welfare project for three further years; certificates not issued for lapsed earlier years.
Eligibility under section 35AC for the Bhai Kahnaiyaji Birdh Ghar Yatim Ghar Ayurvedic Dawaghar Welfare Society is extended for a further three-year period commencing 2013-14 through 2015-16 at the same approved cost, based on the National Committee's recommendation that the project is being executed properly; no certificates will be issued for the two lapsed years of the extended period.

Eligible project extension under section 35AC: hospital expansion in Manipur extended and project cost amended.
Notification under section 35AC designates the Expansion of Hospital called Shri Sai Institute of Medical Sciences Hospital and Research Centre, implemented by D-CACUS Education Centre in Bishnupur District, Manipur, as an eligible project for an additional three year period commencing 2015 16, and amends the earlier notified maximum project cost by substituting the previously specified amount with an enhanced project cost on the recommendation of the National Committee for Promotion of Social and Economic Welfare.

Tax deduction eligibility under Section 35AC extended for the specified old-age home, yoga centre and dispensary project for a further period.
The Central Government, under the Income-tax Act, has notified that the trust's project for constructing and running an old-age home, dhyan/yoga centre and Ayurvedic dispensary is an eligible project for tax-deduction under Section 35AC for a further three-year period commencing 2015-16, on the recommendation of the National Committee and without any change to the previously approved project cost of eleven point eight five crore.

Extension of Eligible Project Notification under Section 35AC: Hindu Mission Hospital scheme extended for a further three-year period.
The Central Government, acting under the income-tax notification power, extends the previously notified Hindu Mission Hospital social welfare project for a further three-year period without change to the approved project cost, following the National Committee's recommendation under the procedural rule permitting continuation where execution is satisfactory.

Section 35AC eligible project extension granted after National Committee recommendation, keeping approved cost unchanged for further years.
The Central Government notifies continuation of the "Maintenance of Activities" project by Shree Navchetan Andhjan Mandal as an eligible project under the Income-tax Act, following a recommendation by the National Committee that execution is proper; the approved cost remains unchanged and the scheme is extended for a further three-year period commencing with the 2015-16 financial year.

Section 35AC eligible project extension granted for Bhagyoday General Hospital expansion project for three financial years.
Central Government notifies the Bhagyoday General Hospital expansion project as an eligible project under the Income-tax Act for a further three financial years commencing 2015-16, acting on the National Committee's recommendation that the project is properly executed and extending its status without any change in the approved cost, including the corpus fund.

Deduction under section 35AC: Lifeline Express project eligibility extended and project cost ceiling amended.
The Central Government notifies the "Running of Lifeline Express (the hospital on wheels)" by Impact India Foundation as an eligible project under section 35AC for a further three-year period commencing with financial year 2015-16, and amends the previously specified maximum allowable project cost to a higher revised amount inclusive of an increased corpus fund, pursuant to the National Committee's recommendation under the Income-tax Rules.

Extension of eligible project status under tax law: vocational training scheme's notified period prolonged without cost change.
The Central Government has notified renewal of the "Vocational Training Centre" project by Bharti Mahila Mandal as an eligible project under the tax incentive framework, extending its notified period for a further three years beginning 2015-16, on the recommendation of the National Committee and without any change to the approved project cost of Rs. 4.77 crore.

Section 35AC project extension: Multi Speciality Hospital and Cancer Detection Treatment Centre continued with approved cost unchanged.
Notification under Section 35AC extends designation of Dr. Sali Medical Foundation's Multi Speciality Hospital and Cancer Detection Treatment Centre as an eligible project for income-tax purposes, preserving the previously approved cost ceiling and authorising the scheme to continue for a further three-year period following a recommendation of the National Committee under the Income-tax Rules.

Tax-deduction eligibility for Indian Red Cross Society projects extended, preserving approved project cost and scope for further term.
The Central Government, under Section 35AC, notifies the Indian Red Cross Society, Andhra Pradesh scheme-comprising blood bank upgrades, an AYUSH hospital with research centre, medicine banks across 23 districts, senior citizens' cottages, and an administrative block-as an eligible project for tax-deduction purposes for a further three-year period, without any change in the previously approved project cost, following the National Committee's recommendation that the project is being executed properly.

Tax deduction provision: extension of eligible project notification for renovation of Ayurvedic hospital and gurukul ashram preserving approved cost.
Notification extends the eligible project "Renovation of Ayurvedic Hospital and Gurukul Ashram" carried out by Prachina Bharatiya Vidya Sadha Gurukul Ashram, Nuapada, Orissa, based on the National Committee's recommendation that the project is properly executed, and preserves the previously approved estimated cost while notifying the project for a further three-year period commencing with financial year 2015-16 to maintain eligibility for tax-deduction treatment under the Income-tax Act.

Sovereign Gold Bonds: gram-denominated government bonds priced to market, 2.75% annual interest, eight-year maturity with limited early redemption.
The Scheme creates Sovereign Gold Bonds issued as Government of India Stock, available to persons resident in India, subscribed in gram-denominated units (min. two grams, max. 500 grams per person per year). Issue and redemption prices are set in rupees by reference to the simple average of the previous week's 999 purity gold closing price. Bonds bear fixed interest at 2.75% per annum, payable half-yearly, mature in eight years with early redemption permitted from the fifth year on coupon dates, are convertible to demat, eligible for SLR treatment, usable as collateral subject to RBI loan-to-value norms, and the interest and capital gains are taxed as provided under income-tax law and like physical gold respectively.

Subordination of Income-tax authorities under section 144C to designated superior authorities, superseding prior notification for dispute-resolution functions.
CBDT, under section 118, directs that specified Income-tax authorities in the accompanying table shall be subordinate to designated senior Income-tax authorities for purposes of performing functions under section 144C, superseding the notification dated 1st January, 2015; the table allocates supervisory responsibility over Members of Dispute Resolution Panels to specified Principal/Chief Commissioners of Income-tax.

Arm's length price tolerance allows the actual transaction price to be treated as ALP where variation falls within notified narrow margins.
For Assessment Year 2015 2016 the actual transaction price is deemed to be the arm's length price where the variation between the arm's length price under section 92C and the actual price does not exceed the notified tolerances for wholesale trading and for other cases. Wholesale trading is defined as trading in goods where purchase cost of finished goods is at least eighty percent of total cost and average monthly closing inventory is ten percent or less of sales.

Corrigendum to notification corrects typographical wording and revises the previously published effective date.
Corrigendum to Notification No.78/2015 replaces the phrase "by vide" with "vide" and corrects the date "29th October,2015" to "29th September,2015" in the Gazette entry; issued as Notification No.85/2015 dated October 21, 2015 to rectify publishing errors.

Infrastructure Debt Fund rules require IDFs to be NBFCs and restrict investments to operational infrastructure projects.
IDFs must be set up as Non-Banking Financial Companies conforming to the RBI's Infrastructure-Debt Fund NBFC Directions; their funds may be invested only in Post Commencement Operation Date infrastructure projects with at least one year of satisfactory commercial operations, including PPP projects under a tripartite agreement ensuring compulsory buyout and termination payment, and non-PPP or public projects in sectors without a project authority.