Tax exemption specification: United News of India recognised as news-agency under income-tax clause, covering three assessment years.
Central Government specifies the United News of India as a news agency set up in India solely for collection and distribution of news for the purposes of clause (22B) of section 10 of the Income-tax Act, by Notification S.O.2524 dated 10-3-1995, applying to the assessment years 1994-95 through 1996-97.

Exemption under income tax: government extends eligible project status to rural housing and mobile medical services.
Central government extends tax-exempt status under Income Tax law to two Ramakrishna Mission Belur Math schemes for a further three assessment years commencing 1996-97: construction of dwelling units for the rural poor at Hooghly, and mobile medical services and health education in Bankura District; the extension is based on a National Committee recommendation that the schemes are properly executed and follows procedural rules governing specification of eligible projects.

Exemption under section 35AC extended to specified hospital project with mandated free and concessional patient services.
Exemption under section 35AC is extended to the Ramco Appollo Diagnostic Centre at Rajapalayam for two further assessment years from 1996-97, subject to conditions: specified percentages of clinical, X ray, ECG and other routine tests must be provided free or at concessional rates, free treatment must be given to patients below a prescribed family income threshold, and concessional treatment provided to families in a higher income band; these service and income based conditions underpin the project's continued eligibility.

Exemption under section 35AC extended to hospital project, preserving donor tax benefit for further assessment years.
Central Government specifies the Hospital Project at Trivandrum of the Ramakrishna Math, Belur Math, District Howrah, West Bengal as an eligible project or scheme under the Explanation to section 35AC of the Income tax Act for a further period of three assessment years commencing from the assessment year 1996 97, following the National Committee's recommendation and at an estimated cost of rupees fifty six lakhs.

Tax exemption for specified social welfare projects extended after administrative confirmation of ongoing project execution and eligibility.
Exemption under section 35AC designates specified social welfare projects-slum re-housing, rural housing, school building reconstruction, and training and self-employment for handicapped poor-as eligible for tax-deductible contributions and formally extends their specification for a further three-assessment-year period following a National Committee recommendation that execution was satisfactory.

National Savings Certificates amended to permit single-holder certificates for adults, minors, and trusts effective April 1, 1995.
The amendment deletes three definition clauses in the principal rules and replaces the single Holder Type Certificate provision so that such a certificate may be issued to an adult for himself, an adult on behalf of a minor, a minor, or a trust, effective 1 April 1995.

Tax exemption scheme specified under income tax provision: European Community International Institutional Partners designation enables exemption status.
Central Government, under clause (23BBB) of section 10 of the Income-tax Act, specifies the European Community International Institutional Partners (ECIIP) Scheme, 1993 as a scheme for the purposes of that clause by Notification No. S.O.115(E) dated 23-2-1995, thereby designating the ECIIP Scheme, 1993 as eligible for the statutory exemption framework.

Deduction under section 35AC: approved institutions and specified projects eligible for prescribed project cost deductions.
The Central Government, on the National Committee's recommendation, approves named institutions and specifies eligible projects, estimated costs and the maximum portion of those costs allowable as deductions under section 35AC; the notification also prescribes assessment year validity periods (one, two or three years) for specified serial numbers, thereby conditioning deduction availability on both institutional/project approval and the prescribed time window.

Specification of Foreign Institutional Investors under section 115AD: notification lists SEBI registered sub account FIIs and custodians.
The Central Government, exercising powers under the Explanation to section 115AD(a) of the Income-tax Act, issues a notification specifying a list of SEBI-registered Foreign Institutional Investors that act as sub-accounts of other registered FIIs, and records each named sub-account together with its global custodian or trustee to identify entities recognised for tax administration under the said provision.

Mutual fund specification recognised under Income-tax Act for tax purposes following statutory registration and trust deed.
Central Government specifies J. M. Mutual Fund as a mutual fund for tax purposes under the Income-tax Act by exercising the power conferred by the relevant clause of section 10, identifying the fund as constituted under a trust deed dated 1st September, 1994, set up by J. M. Financial and Investment Consultancy Services Limited and J. M. Share and Stock Brokers Limited and recognising its registration with the market regulator under the Mutual Funds Regulations, 1993, under registration code MF/015/94/8.

Section 80L specification: taxable bonds designated for issuance, affecting deduction eligibility under the Income tax provision.
The Central Government, under clause (ii) of sub section (1) of section 80L of the Income tax Act, specifies the 13% taxable KCHC Bonds 2004 Series 1 issued by the Kerala State Co operative Hospital Complex and Centre for Advanced Medical Services Limited, Kannur, bearing distinctive numbers 94/1 01 to 94/1 80,000, with a face value of five thousand rupees each and an aggregate issue of forty crores, for the purposes of that clause.

Approval under section 36(1)(viii): company recognised for deduction eligibility subject to statutory compliance.
Approval is granted to BOB Housing Finance Ltd. as a company for the purposes of clause (viii) of sub section (1) of section 36 of the Income tax Act, 1961 for the assessment year 1995-96, and the approval is subject to the condition that the company shall conform and comply with the provisions of section 36(1)(viii) of the Income tax Act, 1961.

Taxable difference on Zero Coupon Bonds designated as redemption-minus-bid spread for specified financial holders under withholding rule.
Central Government specifies that the taxable amount for five-year Government Zero Coupon Bonds issued by auction is the difference between the redemption value and the bid price, and limits this specification to holdings by banking companies, co-operative banks, public financial institutions, Discount and Finance House of India Limited, and Securities Trading Corporation of India Limited for the purposes of the proviso to section 193.

Exemption under section 35AC: approval of institutional projects permits specified project cost deductions within notification limits.
Approval under section 35AC designates Sri Satya Sai Medical Trust for eligible projects-cardiology maintenance and running, hospital repairs and renewals, and ophthalmology and subsequent ENT phases-with a capped deductible cost of Rs. 1,527 lakhs plus specified unutilised prior donations; the approval is time limited to the assessment years specified in the notification.

Specified taxable bonds designated as eligible under the Income tax provision, listing series by tenor, rate and serial ranges.
The Central Government specifies multiple series of taxable secured redeemable non cumulative bonds as eligible under clause (ii) of sub section (1) of section 80L, listing each series by tenor, coupon rate, distinctive serial number ranges and aggregate issuance amounts so that the designated bond issues qualify for the statutory tax treatment associated with that provision.

Tax-free bonds under section 10(15)(iv)(h) exempt specified secured redeemable non-cumulative bonds if holders register their holdings.
Central Government designates a specified series of secured, redeemable, non cumulative bonds issued by the Nuclear Power Corporation of India Limited as tax exempt under the Income tax Act clause corresponding to item (h) of sub clause (iv) of clause (15), describing the series, distinctive number range, aggregate issue amount, face value and prescribed interest rate; the notification conditions the tax benefit on registration of the holder's name and holding with the issuing corporation.

Tax deduction under Section 80G: temple recognised as a place of public worship of renown enabling donor tax benefits.
Notification under section 80G designates Sri Thirunarayana Swamy Temple, Melkote, Bangalore, as a place of public worship of renown throughout Karnataka for the purposes of tax deduction on donations, issued by the Central Government under the powers conferred by the relevant clause of the section to bring the temple within the statutory category permitting donor tax benefits.

Subordinated floating interest bonds designated under tax provision as promissory notes, qualifying for specified clause treatment.
Central Government specifies fifty lakh unsecured, redeemable subordinated floating interest rate bonds issued by the State Bank of India as promissory notes for the purposes of Section 80L, each with a face value of one thousand rupees, offered as over subscription and thereby brought within the specified clause of the Income tax Act for tax treatment.

Amendment to section 35AC notification raises the approved project cost ceiling for a listed entry in the schedule.
The Central Government, on the National Committee's recommendation, amends the notification under the explanatory provision to the tax incentive statute by substituting the previously stated figures and words denoting the likely and maximum approved project cost for a specific schedule entry with newly specified figures, thereby altering the approved cost ceiling for that project or scheme.

Section 35AC approval: specified institutions and projects qualify for deduction of approved project costs under the Act.
The Central Government approves specified institutions and designates eligible projects or schemes with their estimated costs and the maximum portion of such costs admissible as a deduction under section 35AC. The notification enumerates nine institutions and their projects (education, health, rural welfare, water and sanitation, wasteland development), and fixes the maximum deductible amount for each project.