Arm's length price determination prescribes dataset construction, percentile-based arm's length range and median for transfer pricing.
Amendments require use of current-year data (or the immediately preceding year if unavailable at filing) for comparability in transfer pricing; introduce Rule 10CA mandating dataset construction from ordered comparable prices, weighted averages for multi-year comparables, and percentile-based arm's length range (35th-65th) where six or more entries exist; if the transaction price lies outside that range the median applies; where fewer entries exist the arithmetic mean applies subject to a notified small variation tolerance; percentile and median calculation conventions and illustrative examples are provided.

Territorial jurisdiction changes: Schedule amendments revise income-tax jurisdictional districts and state coverage across specified regions.
The notification amends the Schedule of S.O.2914(E) by replacing territorial entries: Chennai becomes Tamil Nadu and Puducherry; Jaipur becomes Rajasthan; Patna becomes Bihar and Jharkhand; Pune becomes Maharashtra (Except Mumbai); and the entries for Lucknow and Kanpur are replaced with detailed lists of revenue districts in Uttar Pradesh and Uttarakhand that constitute each region's income-tax jurisdiction.

Corrigendum revises regional allocations of income-tax offices, replacing city entries with state and region names.
Corrigendum amends Schedule I of an income-tax notification by substituting twelve city-based column (2) entries with broader state or regional designations, converting specific city names into corresponding state names, combined state pairs, and multi-state or regional descriptions to clarify the territorial allocation of income-tax office jurisdictions in the Schedule.

Deduction under section 35AC: Government notifies approved charitable projects and permitted deduction limits for three financial years.
Notification under section 35AC notifies institutions approved by the National Committee and approves specified projects, their estimated costs and the maximum amounts that may be allowed as deduction under the provision. The Table lists twenty-two institutions with project descriptions and records that the Committee recommended approval for each project for a three-year period commencing with financial year 2015-16 through 2017-18, thereby fixing the temporal scope and deductible limits for eligible expenditures.

Corrigendum corrects an Income Tax notification by substituting the previously published monetary figure with a revised figure.
Corrigendum to an earlier Income Tax notification amends the monetary figure stated in S.O. 1632(E) dated 17 June 2015 by substituting the originally published amount with a revised amount in the Gazette entry at the specified serial and column location, issued by the Department of Revenue to correct the published error.

Corrigendum corrects corpus fund figure in project cost notification, replacing the originally stated amount with a revised figure.
Corrigendum amends the Hindi version of Notification S.O. 1989(E) (20 July 2015) by replacing the last line of paragraph 5: the project cost statement previously indicating a corpus fund of Rs. 205 lakh shall be read as including a corpus fund of Rs. 498 lakh.

Corrigendum correcting project title to reflect increased One Teacher Schools and expanded tribal area and state coverage.
The corrigendum amends the title and scope of the earlier notification by replacing the project description in paragraphs 1 and 6 with revised wording that increases the stated number of One Teacher Schools, tribal areas and the count of States, thereby expanding the declared coverage of the literacy project.

Corrigendum: corrected address for Indian Centre for Plastics in the Environment notification; substitute revised Fort Mumbai address for prior address.
Corrigendum correcting the published address of the Trust Indian Centre for Plastics in the Environment in notification S.O. 1992(E), directing that the originally published Fort Mumbai address be read as the revised Fort Mumbai address specified in the corrigendum, thereby amending the Gazette entry to substitute the corrected premises and street details for the Trust's official address.

Project title correction: notification amends specified project title to Children's Home Project, altering the earlier notification wording.
Corrigendum corrects the project title in a prior Ministry of Finance notification by replacing the published designation "Sevalaya Primary School Building Project" with "Children's Home Project" in paras 1 and 4 of the earlier Gazette notification, confined to the textual title and not altering other provisions.

Tax deduction responsibility expanded to include other persons within specified territorial areas and place-name corrections applied.
The Schedule is amended to broaden withholding and collection obligations by adding a second subparagraph in column (5) for serial numbers 1-26 to include any other person located within the specified territorial area, and to correct place names in column (4), changing "Botandm" to "Botad" and inserting "Bhavnagar" after "Morbi".

Corrigendum to income tax notification updates schedule entries, adding a locality, new resident taxpayer category, and code revisions.
Corrigendum amends Schedule I entries: it inserts the locality name Samta; narrows certain subitems and adds a category for individuals deriving income other than business or profession residing in specified territorial areas; provides that those individuals whose principal source of income is salary are included in the corresponding column; and replaces and inserts numeric place codes at other serial entries to update cross references and locality identifiers.

Specialist prescription requirements tightened for specified ailments; prescribed qualifications and mandatory prescription details now required and form removed.
Rule 11DD is amended to require prescriptions for specified ailments to be issued by specialists holding recognised postgraduate or doctoral medical qualifications appropriate to each category, with a proviso permitting any full-time Government hospital specialist with a recognised postgraduate degree in General or Internal Medicine to issue such prescriptions when the patient is treated there. Prescriptions must state the patient's name and age, disease or ailment, and the specialist's name, address, registration number and qualification, and Government hospital prescriptions must also include the hospital's name and address; Form No. 10-I is omitted.

Automatic exchange of information mandates reciprocal reporting of specified financial-account data under FATCA implementation for tax compliance.
The Agreement requires each Party to obtain and automatically exchange specified information regarding Reportable Accounts maintained by Reporting Financial Institutions of the other Party-identifying data for Account Holders, account numbers, reporting FI identifiers, account balances or values, and defined categories of gross payments-subject to confidentiality protections in the Convention, phased implementation and timing conditions, and the Competent Authorities' written confirmations that appropriate safeguards and infrastructure for confidential, timely automatic exchanges are in place.

Declarations in Form 15G/15H now require unique quarterly IDs and mandatory reporting in quarterly TDS statements.
Rule 29C mandates that claims for certain incomes without deduction of tax be made in Form 15G or Form 15H, submitted on paper or electronically under specified procedures. Payers must allot a unique identification number to each form received each quarter and report these numbers and particulars in the quarterly TDS statement per rule 31A(4)(vii), even if no tax is deducted. A systems authority will set formats, verification processes and make declarations available for verification; tax authorities may require production or access to declarations for seven years from the end of the relevant financial year.

Allowance eligibility expanded to include deaf and dumb, aligning concession previously limited to blind persons.
The notification amends Income-tax Rules, 1962 by inserting the words "or deaf and dumb" after "who is blind" in the Table to rule 2BB(2) against serial number 11, thereby extending the specified allowance to persons who are deaf and dumb in addition to blind persons.

Tax exemption for royalty and fees for technical services: income from defence aircraft retrofitting excluded from taxable total.
A statutory declaration under section 10(6C) states that income of M/s Thales Systemes Aeroportes SAS by way of royalty or fees for technical services received under the General Contract dated 29 July 2011 with M/s Dassault Aviation and the Government of India for retrofitting defence aircraft connected with the security of India shall not be included in computing the company's total income for the relevant previous year.

Reporting financial institutions must register and electronically file Form 61B or a digitally signed Nil statement using prescribed XML standards.
Reporting financial institutions must register on the Income Tax e filing portal and furnish Form 61B or a Nil statement by online electronic transmission to a designated server using the prescribed XML data structure and the designated director's digital signature; the Principal DGIT (Systems) prescribes procedures, validation rules, security, archival and retrieval standards, and files missing required validation elements may be rejected.

Reporting obligation procedures: electronic registration and submission of Form 61B require e filing registration and a digital signature.
The Principal DGIT (Systems) prescribes registration on the e-filing portal for reporting financial institutions, requiring selection of calendar year and reporting entity category, download of the prescribed schema, and upload of Form 61B or a Nil statement via the designated online facility. Submissions must be made using a Digital Signature Certificate; Nil statements require a DSC-backed declaration on pre-existing and new accounts. If the designated director is the authorised signatory under section 140, that person's DSC must be used; other DSC procedures will be notified separately.

Jurisdiction allocation for Additional and Joint Commissioners to function as Assessing Officers under the black money regime.
Directs that the Additional Commissioners of Income-tax or the Joint Commissioners of Income-tax shall exercise the powers and perform the functions of Assessing Officers under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, in respect of territorial areas or persons or classes of persons or incomes or classes of incomes or cases or classes of cases for which they have been authorised by the Principal Chief Commissioner, Chief Commissioner, Director General, Principal Commissioner or Commissioner of Income-tax pursuant to Board directions.

Section 10(22B) news agency exemption granted to Press Trust subject to income application for news and non-distribution.
The Central Government designates Press Trust of India Limited as a news agency for the purposes of clause 22B of section 10 of the Income-tax Act for specified assessment years, subject to the condition that the agency applies or accumulates its income solely for collection and distribution of news and does not distribute income to its members.