Specified securities under section 54EA: shares granted specified status with an issuance window and three-year transfer restriction.
The Central Board of Direct Taxes notifies that shares to be issued by Energy Development Co. Ltd., a public company, are specified securities for the purpose of section 54EA, provided they are allotted within one year from publication, the aggregate issue does not exceed the stated monetary ceiling, and the shares are not transferable before three years after allotment.

Exemption under section 35AC extended to specified women's college and hostel project, permitting further eligible deduction period.
The Central Government specifies the construction, furnishing and establishment of a women's degree college and girls' hostel at Borli Panchatan, Raigad, as an eligible project for exemption under section 35AC for a further three assessment years commencing from assessment year 1998-99, following a National Committee recommendation and on the basis of the estimated project cost.

Exemption under section 35AC extended for Training and Rehabilitation scheme for disabled soldiers for three further assessment years.
Central Government specifies the Training and Rehabilitation of disabled soldiers at Queen Mary's Technical Institute, Kirkee, Range Hills, Pune, as an eligible project under section 35AC for a further three assessment years commencing with assessment year 1999-2000, following the National Committee's recommendation that the project is being executed properly and subject to the estimated project cost.

Exemption under section 35AC extended for eligible school construction and running projects after the National Committee's recommendation.
The Central Government specified construction and operation of Sri Ramakrishna Vivekananda Higher Secondary School, construction and operation of Manickavasagam High School at Pandipathram, and recurring expenses for running both schools as eligible projects under section 35AC. Following the National Committee's recommendation that the projects were being properly executed, the Government extended the specification for a further three assessment years commencing with assessment year 1999 2000, without change in the approved cost.

Exemption under Section 35AC specified five welfare projects as eligible for tax relief for a further three assessment years.
Central Government specified five named welfare projects as eligible for tax exemption under section 35AC for a further three assessment years commencing with assessment year 1999-2000, without change in the approved cost; the action followed a National Committee recommendation after finding the projects likely to extend beyond six years and satisfied with their execution.

Tax exemption for specified charitable medical projects: designation extends eligibility for donation-based relief following administrative recommendation.
The Central Government designated the Furnishing and Equipment of the Assam Gujarat Voluntary Blood Bank and Research Centre at Guwahati as an eligible project for tax exemption, conditioned on at least 51% of beneficiaries being patients below the poverty line or government general ward patients receiving tested and screened blood free of charge. The National Committee recommended and the Government specified the project for a further three assessment years following review of its execution and recorded the estimated project cost and implementing charitable trust.

Exemption under section 35AC: specified health, aquaculture and environment projects for Arpan Trust extended for three assessment years.
The Central Government re specified as eligible under section 35AC a composite scheme of Arpan Trust at Sabarkantha, Gujarat - comprising health awareness and diagnostic camps with primary treatment kit distribution, inland fisheries development and fish seed distribution, and plant distribution, awareness and nursery/Ayurvedic garden development - for a further three assessment years from assessment year 1999 2000 at an estimated cost of eight lakhs, following the National Committee's recommendation that the project was being executed properly.

Exemption under Section 35AC extended to specified women's college and hostel project, preserving eligibility for tax-deductible contributions.
Section 35AC exemption is applied to the construction, furnishing and establishment of a Women's Degree College and Girls' Hostel at Borli Panchatan, District Raigad, Maharashtra, by specifying the project as an eligible project and recording its estimated capital cost; the Central Government extends the original specification for a further three assessment years following a National Committee recommendation that the project is being properly executed.

Exemption under section 35AC: eligible rehabilitation project specification extended, maintaining tax-exemption eligibility.
The Central Government renewed the specification of an exemption under section 35AC for Queens Mary's Technical Institute's training and rehabilitation project for disabled soldiers at Kirkee, Range Hills, Pune, after the National Committee recommended further specification under the Income-tax Rules based on proper execution; the notification identifies the project, location and estimated cost and extends its eligibility as an exempt project for a further three assessment years.

Exemption under section 35AC: specified projects declared eligible for tax deduction for three assessment years.
The Central Government specifies the construction and running of Sri Ramakrishna Vivekananda Higher Secondary School, the construction and running of Manickavasagam High School, and recurring expenses for running both schools as eligible projects for exemption under section 35AC, without change in the approved cost, for a further three assessment years commencing from assessment year 1999-2000 following a National Committee recommendation.

Tax exemption under Section 35AC extended for specified charitable projects following committee recommendation.
The Central Government re specifies, under Section 35AC, the Gopali, Jalaberia, Krishnanagar, Phuleswar and Amta projects as eligible for tax exemption for a further three assessment years commencing with assessment year 1999 2000, without any change in the approved cost, following a National Committee recommendation that the projects are being executed properly.

Exemption under section 35AC extended to Assam Gujarat Voluntary Blood Bank for prioritized poor and general ward patients.
Central Government specifies the furnishing and equipment project of the Assam Gujarat Voluntary Blood Bank and Research Centre, Guwahati, as an eligible project for income-tax exemption, conditioned that a majority of beneficiaries are patients below the poverty line or patients in Government hospital general wards receiving tested and screened blood free of charge; the National Committee recommended renewal and the scheme is specified for a further three assessment years at an estimated cost of thirty-three lakhs commencing from assessment year 1999-200.

Exemption under section 35AC: specified rural health, aquaculture and environment programmes extended for further three assessment years.
Central Government specified the Arpan Trust scheme in Sabarkantha, Gujarat - comprising Health, Aquaculture Development and Environment Awareness Programmes - as an eligible project for tax exemption under section 35AC, and, on National Committee recommendation that the project was properly executed, extended the specification for a further three assessment years from assessment year 1999-2000 at an estimated cost of eight lakhs.

Income-tax specification extended for Jaipur rural development projects, preserving approved cost and renewing eligibility for additional assessment years.
The Central Government, acting under the power to specify eligible projects for income-tax exemption, renews the specification of the Jaipur Rural Health and Development Trust projects - PYOH II US Aid, low-cost houses construction, Jaipur District Rural Health Project, and poultry and garment activities for rural women - for a further three assessment years commencing with assessment year 1999-2000, without change in the approved cost, following the National Committee's recommendation that the projects are properly executed.

Exemption under section 35AC extended for Sports Coaching Foundation projects, permitting a renewed eligible period.
Central Government re-specified the Sports Coaching Foundation's capital and revenue projects at Masab Tank, Hyderabad as eligible for income-tax exemption under the statutory provision after a National Committee recommendation, extending eligibility for a further three assessment years beginning with the assessment year 1999-2000.

Exemption under section 35AC: extends eligibility of Deepalaya school construction project for further assessment years.
The Central Government has specified the construction, furnishing and equipment of a Deepalaya school building at Govindpuri, Kalkaji Extension, Delhi as an eligible project for exemption under section 35AC and, following a National Committee recommendation that execution is proper, has extended that specification for a further three assessment years commencing from the assessment year 1999-2000.

Section 35AC deduction amended: allows purchase and running of Willingdon Hospital as substitution for prior construction-related description.
Section 35AC deduction eligibility is amended by substituting the project description at Serial No. 6 in Notification S.O. No. 863(E), replacing "construction, furnishing and equipments of rural community hospital, canteen, dharmshala and staff quarters for hospital staff at Chennai, Tamilnadu" with "purchase and running of Willingdon Hospital, Chennai, Tamilnadu," thereby changing the scope of qualifying expenditure for deductions under the provision.

Section 35AC exemption: approved projects eligible for tax deduction under specified limits for limited assessment years
Approval under section 35AC designates specified charitable institutions and particular projects as eligible for tax deductions, with the Table stating each project's estimated cost and the maximum deductible amount (including where applicable corpus fund components). The notification confines the approval to a three year period for specified assessment years and notes later textual substitutions to certain Table entries.

Exemption under section 35AC: charitable eye-care scheme specified for administrative extension following regulatory recommendation.
Central Government specified the scheme of free eye services by Shri R.M. Eye Hospital and free mobile camps in rural and adivasi villages of Chikhodra, Gujarat as an eligible project under section 35AC for a further three assessment years commencing from assessment year 1999-2000 following the National Committee's recommendation that the project was being executed properly.

Tax exemption for specified charitable projects extended, confirming continued eligibility for the trust's rural development schemes.
Central Government specifies continuation of tax-exempt status for PYOH II US Aid; construction of low-cost houses; Jaipur District Rural Health Project; and poultry raising and garment making for rural women of Jaipur Rural Health and Development Trust as eligible projects for a further three assessment years commencing from assessment year 1999-2000, without change in the approved cost, following the National Committee's recommendation that the projects were being properly executed and their duration would extend beyond the previous period.