Secondary adjustment interest computation requires repatriation deadline; failure triggers imputed interest based on currency-specific benchmarks.
Secondary adjustments under section 92CE require repatriation of excess funds within a uniform ninety-day period from specified triggering events tied to primary transfer pricing adjustments. If excess money is not repatriated within that period, imputed per annum interest income is computed using currency-specific benchmarks: the State Bank of India one year marginal cost of funds lending rate as of the first of April plus a margin for rupee-denominated transactions, and the six month London Interbank Offered Rate as of the prior September plus a margin for foreign currency transactions. "International transaction" is as per section 92B.

Electronic verification: Rule 114B permits paper or electronic submission using an electronic verification code under prescribed systems standards.
The amendment to Rule 114B permits furnishing particulars either in paper form or electronically under the electronic verification code, to be carried out in accordance with procedures, data structures, and standards specified by the income-tax systems authority, thereby providing an additional mode of compliance with the obligation to give particulars under the rule.

Arm's length price: small permitted variation lets actual transaction price be treated as arm's length for notified assessment periods.
Notification deems the actual transaction price to be the arm's length price for notified assessment periods where the variation between the arm's length price determined under the transfer pricing provisions and the actual price falls within prescribed small thresholds; a distinct, tighter threshold applies to wholesale trading, which is defined by high purchase-cost dominance in total cost and low average monthly closing inventory relative to sales.

Jurisdictional allocation for Income-tax investigation redefines offices and district coverage, altering regional investigative jurisdictions effective on publication.
Substitution of Schedule serial eleven redefines investigative jurisdictions by designating the Director General of Income-tax (Investigation), Uttar Pradesh and Uttarakhand, with principal offices at Lucknow and Kanpur, and by listing the specific revenue districts falling under the Principal Director/Director (Investigation) at Lucknow and at Kanpur; the amendment takes effect from the date of its publication in the Official Gazette.

Rent withholding tax must be deposited electronically within 30 days and Form 16C furnished after filing Form 26QC.
Deductors must deposit tax withheld on rent to the Central Government within thirty days from month-end with Form No.26QC and remit electronically to specified banks; furnish Form No.16C to the payee within fifteen days after the due date for Form No.26QC; and submit Form No.26QC electronically to the designated Income-tax Systems authority within thirty days, with prescribed procedures, formats and form contents inserted into the rules.

Long-term specified asset designation: bonds of Power Finance Corporation redeemable after three years qualify under section 54EC from mid June 2017.
The Central Government notifies that bonds issued by Power Finance Corporation Limited and redeemable after three years, when issued on or after the 15th day of June, 2017, are to be treated as long-term specified asset for the purposes of section 54EC of the Income tax Act, 1961, thereby specifying issuer, minimum redemption period and effective issuance date as the operative eligibility conditions under that section.

Safe harbour transfer pricing revised to define employee cost and include low value-adding intra-group services with certification requirements.
Amendments refine the transfer pricing safe harbour framework by redefining accountant for certification, codifying an inclusive employee cost definition with an eighty percent deeming rule for unascertainable outsourcing employee cost, and introducing low value-adding intra-group services with functional criteria and specified exclusions. The rules set operating margin and employee-cost thresholds for specified services, prescribe interest and commission floors for intra-group loans and guarantees linked to reference rates and credit ratings, and require accountant certification of cost pooling and allocation for low value-adding services.

Electronic verification permitted alongside digital signature, and Form 26B updated for refunds linked to Form 26QB filings.
The amendment inserts or verified through an electronic process into rule 31A(3A) to allow electronic verification in addition to digital signatures, and adds notes to Form No. 26B for refunds linked to deductions reported via Form No. 26QB permitting PAN in place of TAN, leaving the 'period' field blank, and requiring the Form No. 26QB acknowledgement number in the receipt number column.

Cost Inflation Index governs indexed cost computation under the Income-tax Act from assessment year 2018-19 onward.
Cost Inflation Index values are specified under the Explanation to section 48 of the Income-tax Act, 1961, for indexed cost computation from financial year 2001-02 onward. The notification takes effect from 1 April 2018 and applies from assessment year 2018-19 and subsequent assessment years. Later notifications inserted index values for subsequent financial years, effective from their corresponding assessment years.

Exemption for acquisition of equity shares: notification limits non STT transactions with specified preferential and off market exceptions.
The Central Government notifies that acquisitions of equity shares entered into on or after 1 October 2004 are treated as transactions not chargeable to Securities Transaction Tax under clause (38) of section 10, subject to specified exceptions: (a) preferential issues in companies with not frequently traded shares with limited carve outs; (b) acquisitions not via a recognised stock exchange with enumerated provisos including specified institutional, regulatory, FDI compliant and statutory transfer modes; and (c) acquisitions during delisting periods. Key definitions for application of the exceptions are provided and the notification is effective from 1 April 2018.

Due date for furnishing Form 16 extended to mid June under Income tax Rules amendment, affecting salary TDS compliance.
The Income-tax (10th Amendment) Rules, 2017 amend rule 31(3) of the Income tax Rules, 1962 to change the due date for furnishing the TDS certificate in Form 16 (for salaries) by substituting the earlier specified date with a later mid June deadline; the amendment is effective from publication in the Official Gazette under Notification No. 42/2017.

Statement of Financial Transactions submission must use electronic media with temporary receipt and electronic validation.
The procedure requires filers to submit Form 61A as an XML file on computer media plus a duly signed physical control sheet at a TIN Facilitation Centre, which issues a temporary receipt. The XML is validated by NSDL e Gov and, after validation, a provisional receipt or non acceptance memo is emailed to the address on the temporary receipt. Principal DGIT (Systems) prescribes data structures, security, archival and retrieval standards; select officers may submit on CD/DVD with paper verification in Form V.

Declaration in Form 15G/15H: depositors must list all investments and update declarations when estimated income changes.
Depositors must furnish Form 15G/15H containing details of all current and prior investments and the aggregate income on which non-deduction of tax is claimed; when estimated total income or new investments change, a fresh declaration is required, while for old investments the depositor must state the number of earlier declarations and the aggregate income covered to enable the payer to decide whether to accept the form.

TDS on minor's interest income must be reported under the minor's PAN unless a Rule 37BA declaration is filed.
TDS on interest income accruing to a minor whose both parents are deceased must be deducted and reported against the minor's PAN unless a declaration under Rule 37BA is filed; such income is to be assessed in the minor's hands and the minor's ITR filed by the guardian.

Designation of historic public worship place under section 80G(2)(b) clarifies tax-deduction eligibility for donations to the temple.
Notification designates Ariyakudi Sri Srinivasa Perumal Temple, Kottivakkam, Chennai as a place of historic importance and a place of public worship under the statute empowering the Central Government to notify institutions for purposes of donor tax-deduction eligibility, thereby classifying the temple within the statutory category permitting tax-related benefits for contributions.

Benami property enforcement: Income-tax authorities appointed to exercise Authority functions across specified territories.
The Central Government directs specified Income-tax authorities under section 116 of the Income-tax Act, 1961 to exercise the functions of the Authority under the Prohibition of Benami Property Transactions Act, 1988. The notification assigns three officer-roles at each headquarters - Approving Authority, Initiating Officer and Administrator - and lists the territorial areas (states, union territories and named revenue districts, including subsequently carved districts) within which those designated officers will exercise Benami Act powers; it supersedes an earlier notification subject to prior actions.

Authorisation of tax investigators: DGIT empowered to direct subordinate officers under Black Money Act across specified territories.
The Central Board of Direct Taxes authorises designated senior investigation officials to issue written orders conferring concurrent powers and to perform the functions of an Assessing Officer for Assistant Directors or Deputy Directors subordinate to them, in respect of cases or classes of cases under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, within the territorial areas specified in the accompanying schedule; the notification is effective from its publication in the Official Gazette.

Scientific Research Association approval for NIH under section 35 requires separate accounts, audited reports and donation statements.
NIH is approved as a Scientific Research Association under clause (ii) of sub-section (1) of section 35 from AY 2017-2018, subject to conditions: maintain separate books of account for sums received and used for scientific research; obtain audit by a qualified accountant and furnish the audit report to the competent tax officer by the return due date; maintain a separate certified statement of donations received and amounts applied for scientific research and attach it to the audit report. Approval may be withdrawn for specified defaults or noncompliance.

Aadhaar requirement exempted for individuals without Aadhaar or Enrolment ID, including specified-state residents, non residents, elderly, and non citizens.
The Central Government notifies that the provisions of section 139AA shall not apply to an individual who does not possess the Aadhaar number or the Enrolment ID and is residing in Assam, Jammu and Kashmir or Meghalaya, is a non-resident under the Income-tax Act, is aged eighty years or more during the previous year, or is not a citizen of India.

Option under section 115BA: domestic companies must file Form 10-IB electronically with verification and officer certification.
The amendment creates rule 21AD requiring domestic companies to exercise the option under subsection (4) of section 115BA by filing Form No. 10-IB electronically, authenticated by digital signature or electronic verification code, with a principal officer's certification that the statutory conditions are and will be satisfied; the Systems Directorate will prescribe filing procedures, data standards, EVC generation and security, archival and retrieval policies.