National Savings Monthly Income Account limits increased to fifteen lakh by amendment, effective on Gazette publication.
The Amendment substitutes higher monetary figures in paragraph 4(2) of the National Savings (Monthly Income Account) Scheme, replacing "rupees four lakh fifty thousand" with "nine lakhs" and replacing the existing "nine lakhs" figure with "fifteen lakh," thereby increasing the investment ceilings; the Scheme is made under the Government Savings Promotion Act, 1873 and comes into force on publication in the Official Gazette.

No-deduction certificate under section 195: electronic filing via TRACES with AO processing and administrative approval required.
Notification prescribes electronic submission of Form 15C and Form 15D on the TRACES portal for certificates under section 195(3). Applicants must register/login and submit forms with supporting documents using digital signature, electronic verification code, Aadhaar authentication or mobile OTP (digital signature only for overseas applicants). Applications are assigned to TDS AOs in International Taxation; CPC(TDS) will retrieve prior ITRs, PAN demand, audit reports and assessment orders to assist processing. AOs may seek clarifications online, recommend approval or rejection under Rule 29B, and forward cases to the Range Head and CIT for administrative approval. On final approval the AO generates a system certificate on TRACES, which the applicant must share with deductors.

PAN inoperative for non-intimation of Aadhaar, reactivation subject to fee with refunds limited and higher withholding.
PAN becomes inoperative where a person allotted PAN by the cut-off has not intimated Aadhaar by the deadline; reactivation requires payment of the prescribed fee and Aadhaar intimation, after which the PAN becomes operative within thirty days. While inoperative, refunds are not made and no interest is payable for the affected period; higher rates apply for tax deduction and tax collection at source in accordance with sections 206AA and 206CC. The Board will specify the effective date for these consequences and the DGIT (Systems) will specify verification formats and procedures.

Faceless appeal scheme authorisation allows Principal Chief Commissioners to direct e-appeal functions, preserving appellate discretion.
Authorises specified Principal Chief Commissioners to issue written orders delegating the exercise of powers and performance of functions by named subordinate Income-tax authorities to facilitate E-appeal Proceedings, limited to territorial areas, persons, incomes or cases as specified, and subject to a proviso that such orders shall not interfere with the discretion of the Commissioner of Income Tax (Appeals) in exercising appellate functions.

Territorial jurisdiction clarification expands district-level designation for special courts, ensuring retrospective effect and no adverse impact.
The notification amends the principal Gazette notification by substituting specified place names with corresponding district-level references in the notification table to clarify the territorial jurisdiction of designated special courts for Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax matters, and declares the amendment retrospective to the date of the principal notification so that no person is adversely affected.

Notification of specified board income recognition, subject to non-commercial restriction and prescribed income tax filing requirements.
The Karnataka State Building and Other Construction Workers Welfare Board is notified as a Board for the purposes of clause (46) of the Income-tax Act in respect of specified income: cess on construction cost, registration fees and annual subscriptions from establishments, and interest earned on those receipts, subject to conditions that it shall not undertake commercial activity, its activities and the nature of specified income remain unchanged, and it files its return of income as prescribed under the Act.

Corrigendum to income tax rules updates table entries, formulae, schedule references and adds an additional reporting form.
Corrigendum to the Income tax (Second Amendment) Rules, 2023 makes editorial and tabular corrections: substituted tables and amended summation formulae to include an additional prior year component for capital gains account computations; revised schedule and serial references and renumbered rows in tax computation parts; simplified certain aggregated formulae; expanded an expense aggregation to include a special provision head; and updated reporting text to include an additional form. The amendments are technical clarifications without creating new substantive tax policy.

Faceless Assessment proceedings: amendment omits specified schedule entry, enabling units to exercise AO powers concurrently.
The Central Board of Direct Taxes, under section 120 of the Income-tax Act, issues Notification No.10/2023 amending Notification No.61/2022 by omitting Sl. No.3298 and the entries relating thereto from the SCHEDULE; the amendment takes effect from the date of publication in the Official Gazette.

Tax exemption under section 10(46): specified receipts of the notified board exempt, subject to non-commercial and filing conditions.
Notification designates the Insolvency and Bankruptcy Board of India as a notified Board and exempts its specified income-grants-in-aid from the Central Government, fees and fines under the Insolvency and Bankruptcy Code, and interest on those receipts-subject to conditions that the Board shall not engage in commercial activity, the nature of those receipts remains unchanged across the prescribed financial years, and the Board files its income-tax return in accordance with the applicable return-filing provision.

Income tax rule corrections add e filing deduction, amend capital gains tables and formulas, add tax form and update reporting date
Corrigendum inserts an explicit "Any other deduction as per the e filing utility" item in multiple deduction schedules and substitutes numerous capital gains reinvestment tables to add prior years and deduction sections, with corresponding amendments to arithmetic formulae to include the added table rows. It also revises allocation rows for expenses among other heads of income, adds an additional tax form to form furnishing rows, and updates an information furnishing reference date.

Audit reports for charitable trusts now require Form 10B/10BB, with Rs 5 crore, foreign contribution and abroad-application triggers.
The rules, effective 1 April 2023, substitute rules 16CC and 17B and replace Forms 10B and 10BB, prescribing that funds, trusts, institutions and specified educational or medical entities must furnish audit reports in Form 10B where total income (before certain exclusions) exceeds rupees five crores, or where foreign contribution was received, or where income was applied outside India, and in Form 10BB otherwise; the Forms require standard audit attestations by a chartered accountant and comprehensive annexures covering identification, registration, receipts (including corpus and foreign contribution), applications of income, TDS/TCS, specified-person transactions, violations and related schedules.

Disclosure of Assessee Information permits sharing with Tamil Nadu e governance Secretary to identify beneficiaries and aid scheme implementation.
The Central Government designates the Secretary (Information Technology & Digital Service Department), Directorate of e Governance, Government of Tamil Nadu as the authorised recipient for disclosure of assessee information under the Income tax Act provision, limited to identifying genuine beneficiaries and ensuring proper implementation of centrally sponsored and state welfare schemes.

ITR-7 form substituted: new income-tax return format for entities claiming exemptions, reporting detailed schedules, effective 1 April 2023.
Notification substitutes Form ITR-7 in Appendix-II of the Income-tax Rules, 1962, prescribing a revised return for persons required to file under sections 139(4A)-139(4D). The Income-tax (Second Amendment) Rules, 2023 take effect from 1 April 2023 and replace the prior Form ITR-7 with a version that requires detailed identification, registration and exemption basis, plus numerous schedules (e.g., VC, J, FA, PTI, CG, BP, OS, VDA) to capture corpus, investments, application of funds, foreign assets, special-rate incomes and tax computations.

Income tax rules amended: new ITR forms and schedules effective 1 April 2023, expanded filing and disclosure requirements.
The Central Board of Direct Taxes issued the Income tax (First Amendment) Rules, 2023, effective 1 April 2023, amending rule 12 and substituting Appendix II by replacing ITR 1 SAHAJ, ITR 2, ITR 3, ITR 4 SUGAM, ITR 5, ITR 6, ITR V and the Income Tax Return Acknowledgement with new, expanded forms and schedules for filing returns for assessment year 2023 24.

Centralised processing of equalisation levy statements streamlines electronic validation, computation, communication and refund reconciliation.
The Scheme centralises receipt and electronic processing of Equalisation Levy Statements, authorises the Centre to validate, compute levy and interest, reconcile payments and determine payable sums or refunds, and to declare statements invalid for use of non validated software or incomplete information. Revised statements replace originals; unprocessable statements are referred to the Assessing Officer. Communications are electronic, no personal appearance is required, and the Director General with Board approval may specify automated procedures and software validation. Processing errors causing excess refunds will be rectified and recovered.

Specified person recognition for pension fund enables tax-exempt treatment for eligible India investments subject to compliance.
The Central Government specifies the California Public Employees Retirement System as a specified person under clause (23FE) of section 10, granting tax-exempt status to eligible investments in India within the notified period subject to conditions: timely filing of returns, Form No.10BBC certification, quarterly Form No.10BBB reporting, segmented accounts, regulation under California law, exclusive use of earnings for statutory obligations, prohibition on borrowing for Indian investments, no day-to-day participation in investees (monitoring and director rights allowed), and a minimum three-year holding requirement; non-compliance causes ineligibility.

National Savings Monthly Income Account: deposits from 1 Jan 2023 earn 7.1% per annum.
The Scheme confines the previously open eligibility phrasing to the period between 1st October, 2022 and 31st December, 2022 (both days inclusive) and inserts that deposits made under the Scheme on or after 1 January, 2023 shall bear interest at the rate of 7.1 per cent. per annum. The amendment is titled as the National Savings (Monthly Income Account) (Amendment) Scheme, 2023 and is deemed to have come into force on 1 January 2023, with an explanatory memorandum noting no adverse effect from retrospective application.

National Savings Certificates: Amendment sets maturity value and interest schedule for accounts opened from Jan 1, 2023.
Amendment prescribes maturity value, interest accrual and premature-closure payments for National Savings Certificates and accounts opened on or after 1 January 2023: Rs.1000 deposits mature at Rs.1,402.55 with fractional rupee rounding (50 paise up); a five year per year interest schedule for Rs.1000 certificates is specified and applies proportionately to other denominations; premature closure amounts for specified intervals between three and five years are set. Prior transitional purchases are confined to 1 April 2020-31 December 2022.

Kisan Vikas Patra amended to set ten-year maturity and fixed premature encashment values for accounts opened Jan 1, 2023.
The amendment prescribes a ten-year maturity period for Kisan Vikas Patra accounts opened on or after 1 January 2023, with deposits doubling on maturity, and inserts TABLE-4 fixing premature encashment values for specified half-year periods; it also confines certain transitional wording to the period between 1 October 2022 and 31 December 2022 and deems the scheme effective from 1 January 2023.

Scientific research approval under Section 35 enables institutional deduction eligibility for specified assessment years after Gazette publication.
Indian Institute of Science Education and Research, Tirupati is approved under the University, College or Other Institution category for Scientific Research under clause (ii) of sub section (1) of Section 35 of the Income tax Act, 1961 read with Rules 5C and 5E of the Income tax Rules, 1962; the notification is effective from Gazette publication and applies to the specified subsequent assessment years.