Tax exemption for HUDCO shelter bonds requires holder registration to claim tax-free status under the specified provision.
The notification specifies 10-year 9% (tax-free) HUDCO Public Sector Shelter Bonds (Series-III) as qualifying for the stated tax exemption and makes the exemption conditional on the holder registering his name and holding with the Housing and Urban Development Corporation, thereby linking issuance designation to a registration compliance requirement for eligibility.

Authority may open second account for Jawahar Rozgar Yojna Funds under amended savings account rules.
Amendment permits an authority to open a second account in the public account entry expressly for deposit of Jawahar Rozgar Yojna Funds, by adding that exception to the Table to the Post Office Savings Account Rules, 1981; the rule is made under statutory powers and commences on publication in the Official Gazette.

Avoidance of double taxation: treaty allocates taxing rights, limits source state withholding tax and provides mutual agreement procedures.
The India-USSR agreement provides a bilateral regime for avoidance of double taxation, covering residents and specified taxes, and defines residence, permanent establishment and attribution of profits. It allocates taxing rights for business profits, immovable property, shipping and air transport, and limits source state withholding on dividends, interest and royalties subject to exceptions. The treaty prescribes non discrimination, elimination of double taxation through domestic relief, a mutual agreement procedure for resolving disputes, exchange of information with confidentiality safeguards, and rules on entry into force and termination.

Research institution approval requires separate research accounts, annual audited returns, and timely renewal applications under income tax law.
Approval under the Income-tax Act was granted to the Institute of Management Development, Lucknow as an institution eligible under clause (iii) of sub section (1) of section 35, subject to maintaining a separate account for research funds, filing annual scientific research returns in prescribed forms by 31st May, submitting audited annual accounts and balance-sheet copies to designated tax authorities by 30th June, and applying for extension before approval expiry.

Notice requirement under section 193 proviso requires transferee to notify issuer by registered post within prescribed period.
The Central Government specifies 7-year 13% taxable secured redeemable non-convertible bonds issued by Indian Petrochemical Corporation Limited for the purposes of the proviso to section 193; the benefit under the proviso applies to transfers by endorsement or delivery only if the transferee informs the issuing corporation by registered post within sixty days of such transfer.

Specification of eligible bonds under section 80L conditions tax benefit on transferee notice within prescribed period.
The Central Government designates certain IPCL bonds as eligible under clause (ii) of sub section (1) of section 80L of the Income tax Act, identifying them as 7 year 13% (taxable) Secured Redeemable Non convertible IPCL Bonds. Continued entitlement to the section 80L benefit after transfer by endorsement or delivery is conditional on the transferee informing the issuing corporation by registered post within sixty days of the transfer.

Appointment of Appropriate Authority: Delhi's entry replaced to name Shri S.K. Lal as Commissioner of Income-tax.
The Central Government, under the powers of Section 269UB of the Income-tax Act, issues Notification No. 0690(E) dated 31-08-1989 to amend S.O. 684(E) by substituting in column 2 of the Table, against Serial No. 1, item (i) relating to the Appropriate Authority, Delhi, with the entry naming Shri S.K. Lal, Commissioner of Income-tax.

Appropriate Authority appointment under statutory Income tax powers: substitution names new Commissioner of Income tax in the notification.
Amendment substitutes the item (ii) against Serial No. 1 in the Table of notification No. S.O. 392(E), dated 31st May, 1989, replacing the listed entry with a new entry naming the Commissioner of Income tax as the Appropriate Authority for Ahmedabad, effected by the Central Government under its statutory powers in the Income tax Act.

Double taxation relief for international air transport: profits of designated airlines exempt from tax in the other jurisdiction, covering pools.
Profits derived by an enterprise of a Contracting State from the operation of aircraft in international traffic shall be exempt from tax in the other Contracting State. This exemption also applies to profits from participation in a pool, joint business or international operating agency, and interest on funds connected with the operation of aircraft in international traffic shall be regarded as profits from such operation. The Agreement applies to the specified income taxes of each Contracting State and to substantially similar taxes enacted later.

Specified secured redeemable non-convertible bonds: transferee must notify issuer within sixty days to secure withholding proviso benefit.
Central Government designates specified secured redeemable non-convertible bonds issued by the Nuclear Power Corporation as taxable instruments covered by the proviso to the tax withholding provision; the benefit on transfer by endorsement or delivery is conditional on the transferee informing the issuer by registered post within sixty days of transfer.

Specified Secured Redeemable Non-convertible Bonds under tax law require transferee notification to issuer to retain tax benefit.
Specified Secured Redeemable Non-convertible Bonds issued by the Nuclear Power Corporation qualify for the statutory tax benefit, subject to a condition that the transferee, on transfer by endorsement or delivery, informs the issuing Corporation by registered post within sixty days of such transfer for the benefit to be admissible.

Tax-exempt bond specification: exemption for secured redeemable non-convertible bonds subject to holder registration with issuer.
Central Government specifies secured, redeemable, non-convertible bonds issued by the Nuclear Power Corporation as tax-exempt under the relevant income tax provision; the tax benefit is admissible only if the holder registers his name and holding with the Corporation, making registration a prerequisite for entitlement to the exemption.

Tax exemption for specified secured redeemable non-convertible bonds requires holder registration to qualify for the benefit.
Central Government specifies 10-year 9% tax-free Secured Redeemable Non-Convertible Bonds (D Series) issued by the National Hydroelectric Power Corporation Limited as specified securities under the relevant item of section 10 of the Income-tax Act, making them eligible for the stated tax exemption. The exemption is conditional on the holder registering his name and holding with the issuing corporation; entitlement to the benefit is admissible only upon such registration.

Affidavit substitution for employer certificate permitted for small retirement deposits, and Form I amended to reflect this procedural change.
Amendment permits an affidavit on stamped paper evidencing retirement benefits to be accepted in lieu of an employer certificate for deposits not exceeding a specified threshold; Form I paragraph (4) is revised to offer the certificate-or-affidavit option and a footnote added to delete the inapplicable choice. The amendments take effect from publication in the Official Gazette under the Deposit Scheme for Retiring Government Employees, 1989.

Approval under section 36 income tax: company status granted to housing finance corporation for tax treatment.
The Central Government approves Housing Development Finance Corporation Limited as a company for purposes of section 36(1)(viii) of the Income-tax Act, exercising the power under clause (viii) of sub section (1) to recognise the entity for the tax treatment provided by that provision for the assessment years.

Tax exemption under section 10(23C)(iv) recognized for Medical Research Foundation for specified assessment year.
The Central Government, exercising powers under sub clause (iv) of clause (23C) of section 10 of the Income tax Act, notifies Medical Research Foundation, Madras as meeting the requirements of that provision for the specified assessment year, thereby recording the institution's recognition for the statutory tax exemption purpose prescribed by the cited sub clause.

Tax exemption notification recognizes Cathedral Relief Service's eligibility under section 10(23C)(iv) for the specified assessment year.
The Central Government, under sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961, notified Cathedral Relief Service, Calcutta by S.O.1198 as eligible under that provision for the assessment year 1989-90, recorded as No. 8423/F. No. 197/170/89-IT(A1).

Specified bonds exemption: transferee must notify issuer by registered post within sixty days to claim benefit.
The Central Government specifies a series of National Housing Bank bonds as eligible for the proviso to the withholding tax rule under section 193, and conditions the proviso benefit on the transferee informing the issuer by registered post within sixty days of transfer.

Deemed accrual of interest on certain Indira Vikas Patra certificates alters tax treatment by treating compounded interest as yearly accrual.
For certificates purchased in the specified purchase window, interest compounded on the initial sale value shall be deemed to have accrued at the end of each year, calculated from the date of initial purchase up to the end of five and a half years, for the purpose of tax payable by the holder in the relevant assessment year under the law.

Designation under section 269UB amended to appoint a new Appropriate Authority under the income tax notification.
Amendment under sub-sections (1) and (2) of section 269UB substitutes item (ii) against Serial No. 3 in the Table to notification No. S.O. 392(E) dated 31-05-1989, replacing the entry concerning the designation of Appropriate Authority for Ahmedabad with Shri V.D. Wakharkar, Commissioner of Income-tax, by Notification No. 0586(E) dated 27-07-1989 (File No. 316/82-89-OT).