Tax exemption for regulatory authority: specified real estate fees and grants exempted subject to non commercial and filing conditions.
Central Government notifies Madhya Pradesh Real Estate Regulatory Authority for the purposes of clause (46) of section 10, recognizing registration and application fees, penalties, late fees and compounding charges, grants in aid, and interest on those amounts as specified income. The notification is conditional on the Authority not engaging in commercial activity, maintaining unchanged activities and income character during the covered years, and filing its income tax return as prescribed; it is made effective from the financial year 2017-2018 and for subsequent specified years.

Tax exemption for Insolvency and Bankruptcy Board of India: specified grants, fees, fines and related interest exempt subject to conditions.
Notification designates the Insolvency and Bankruptcy Board of India as a board for tax exemption of specified income consisting of grants in aid from the Central Government, fees and fines under the Insolvency and Bankruptcy Code, and interest on those receipts; the exemption is limited to those income categories and is subject to conditions that the Board not engage in commercial activity, that its activities and the nature of the specified income remain unchanged, and that it file its return of income as prescribed.

Special Court designation under income tax law creates a dedicated regional forum for prosecution and trial of tax offences.
The Central Government, in consultation with the Chief Justice of the Gauhati High Court, designates an existing trial court as the Special Court for the North Eastern Region under the Income-tax Act, authorising that court to hear specified income-tax offences within the region; the notification is recorded as later superseded by a subsequent notification.

Recognised stock exchange status requires SEBI approval and strict recordkeeping, audit trail, and reporting obligations.
Recognised stock exchange status is conferred on NSE IFSC Limited for derivative trading, subject to SEBI approval and adherence to SEBI guidelines. The exchange must record and store client particulars including unique client identity number and PAN, maintain a complete seven-year audit trail of derivative transactions, ensure transactions once registered are not erased, permit modifications only for genuine errors while retaining data on modifications, and submit monthly Form No. 3BB to the Director General of Income-tax (Intelligence and Criminal Investigation) within fifteen days from the month end. Recognition continues until SEBI approval is withdrawn or expires and may be rescinded for violations.

Recognised stock exchange status granted subject to SEBI approval and data, audit trail and reporting obligations.
Notification under Section 43 and Rule 6DDB designates India International Exchange (IFSC) Limited as a recognised stock exchange for derivatives, conditional on SEBI approval and adherence to SEBI guidelines; mandatory recording and storage of client particulars including UCI and PAN; retention of a complete audit trail of derivative transactions for seven years; prohibition on erasure of registered transactions; modifications only for genuine errors with records maintained; and monthly submission of Form No. 3BB to the Director General of Income-tax within fifteen days of month-end. The notification lasts until SEBI approval is withdrawn or expires, and violations may lead to rescission.

Information-sharing obligations: specified income-tax authorities must furnish investigation and prosecution reports to CEIB for intelligence purposes.
Director General, CEIB is specified as the authorized recipient under section 138(1)(a), and CBDT directs specified income-tax authorities to furnish preliminary search reports, survey and appraisal summaries, summaries of assessment and appellate orders in DGIT(Investigation) cases, and prosecution details to CEIB; authorities must form an opinion that furnishing is necessary for CEIB functions and follow CBDT Investigation division protocols. Information referencing foreign jurisdictions remains subject to OECD Article 26 and Exchange of Information Manual confidentiality and may not be shared without prior permission through CBDT.

Form 3CD amendments expand audit disclosures for GST, transfer pricing primary adjustments, interest limitation and cash transaction reporting.
Amendments to Form No. 3CD expand disclosure obligations to capture GST identifiers, additional schedule entries, primary transfer pricing adjustments including repatriation and imputed interest, interest limitation details with carry forward information, impermissible avoidance arrangement particulars and aggregate tax benefit, and detailed payer/payee particulars for receipts or payments exceeding statutory cash limits. The form also updates repayment wording, extends tax deduction statement reporting requirements, adds entries for certain dividend receipts and electronic reporting obligations, country by country reporting details, and a GST expenditure breakup.

Tax exemption on interest income for designated governmental financial institutions under India Qatar DTAA effective from 29 April 2018.
The Central Government has notified that a mutual agreement reached by exchange of letters under the India Qatar DTAA implements clause (ii) of paragraph 3 concerning interest, granting tax exemption on interest income derived and beneficially owned by specified governmental financial institutions; the exemption attaches to the listed institutions (India: Export Import Bank of India, Life Insurance Corporation of India; Qatar: Qatar Investment Authority, Qatar Holding LLC) and is effective from 29th April, 2018.

Taxpayer Identification requirements expanded for non-resident applications and mandatory parent company disclosure under amended income-tax rules.
Amendments revise rule 44E cross-references and modify Appendix II forms: Form 34C is retitled for non-resident applicants and requires taxpayer identification and detailed immediate and ultimate parent company particulars; Form 34D requires corresponding non-resident and parent company identification details; Form 34DA updates an internal statutory reference to the new clause enumeration.

Exchange of Information obligations expanded under amending protocol, creating broader information sharing and confidentiality rules with immediate effect.
Notification under section 90 declares the amending Protocol to the India-Armenia tax convention entered into force on 14 June 2017 and that its provisions apply in India from that date. The Protocol replaces Article 26 with a new Exchange of Information clause obliging competent authorities to exchange foreseeably relevant tax information, subject to confidentiality and limited exceptions, and requiring states to employ their information gathering measures even where they have no domestic interest in the information.

Place of Effective Management residency: transitional rules set opening WDV, brought forward losses and carry forward treatment for newly resident foreign companies.
When a foreign company becomes resident in India because its Place of Effective Management is in India and was not earlier resident, specified transitional rules apply: opening WDV and year-wise brought forward losses and unabsorbed depreciation are adopted from foreign tax records if assessed abroad or from books of account if not; such losses and depreciation are deemed brought forward and may be set off or carried forward only against income chargeable in India due to residency, with revisions allowed if foreign authorities change those figures.

Specification of capital gains bond-transfer benefit conditional on transferee notifying issuer by registered post within prescribed period.
The Central Government specifies the Indian Railway Finance Corporation Limited 54EC Capital Gains Bond as a notified security under the proviso to section 193, and makes the proviso's benefit available on transfers by endorsement or delivery only if the transferee informs the issuer by registered post within sixty days of the transfer.

Specification of capital gains bond benefits requires transferee to notify issuer within prescribed period to claim exemption.
The Central Government specifies the Power Finance Corporation Limited 54EC Capital Gains Bond as eligible under the proviso to the Income tax Act, and conditions the availability of the benefit on the transferee informing Power Finance Corporation Limited by registered post within a prescribed period after transfer by endorsement or delivery.

Cost Inflation Index update: revised indices for recent financial years to apply from the assessment year commencing after April.
Amendment to the Explanation to Section 48 adds new Cost Inflation Index table entries: CII for financial year 2018-19 set at 280 and an entry for 2019-20 set at 289; the amendment is effective from 1 April 2019 and applies to Assessment Year 2019-20 and subsequent years, with a note that the 2019-20 entry was later inserted by Notification No. 63/2019 effective 1 April 2020.

Approval under section 35(1)(ii) recognises a research institution, subject to audit, separate accounts and compliance conditions.
Approval is granted to M/s Indian Institute of Science Education and Research, Kolkata as a University, College or other Institution engaged in scientific research under clause (ii) of sub section (1) of section 35 read with Rules 5C and 5E, subject to conditions: sums must be used for scientific research; research carried out by faculty or enrolled students; separate books of account for research receipts and expenditures with an auditor's report filed by the return due date; and a separate auditor certified statement of donations and amounts applied to research. The Central Government may withdraw approval for non compliance or cessation of genuine research activities.

Exemption from deemed income on share premium where Central Board approval exempts application of section 56(2)(viib).
Exemption disapplies the deeming provision treating share issue consideration above face value as income under section 56(2)(viib) where the Central Board of Direct Taxes has approved the share issue under the GSR notification approval mechanism; the notification supersedes a prior one and is retrospective to the GSR notification's operative date.

Valuation of shares: only merchant bankers may issue FMV reports for tax purposes following rule amendments.
The Income-tax (6th Amendment) Rules, 2018 amend the Income-tax Rules, 1962 by omitting a clause in rule 11U and deleting the words "or an accountant" from rule 11UA(2)(b), thereby restricting issuance of valuation reports for determining fair market value of shares and securities to merchant bankers only, effective on publication in the Official Gazette.

Notification under national interest clause designates specified foreign oil companies and storage agreements as notified for tax provision.
Central Government notifies specified foreign companies-Abu Dhabi National Oil Company, ADNOC Marketing International Limited, and ADNOC Marketing International (India) RSC Limited-and the Oil Storage and Management Agreement (25 January 2017) and its Amended and Restated form (10 February 2018) under the proviso to clause (48A) of section 10 of the Income tax Act in the national interest; the notification is effective from publication in the Official Gazette.

Exchange of information: enhanced tax information sharing and mutual assistance under amended India-Kuwait tax pact.
The Protocol amends the India-Kuwait tax agreement by specifying the Kuwaiti tax coverage and replacing Article 26 with an expanded Exchange of Information regime requiring competent authorities to exchange foreseeably relevant tax information, maintain confidentiality consistent with domestic law, permit limited authorised secondary use, and use information-gathering measures to obtain requested data even absent domestic interest; bank or fiduciary status is not a ground to refuse information. It also provides for mutual assistance in revenue collection and enters into force after reciprocal completion of domestic procedures.

Benami informant reward: Confidential informants may receive discretionary ex gratia payments after attachment and confiscation.
Scheme sets a confidential informant reward process for specific, verifiable information about benami property furnished in Annexure A with an Informant Code; informants must assist investigations, and interim reward is linked to provisional attachment while final reward requires confiscation becoming final. A competent multi member committee grants rewards considering quality of information, assistance and risks; rewards are discretionary ex gratia, subject to ceilings, offset rules and exclusions including government servants and information not properly furnished.