Tax treaty amendment expands designated Japan government banks exempt from tax on interest under the India-Japan Convention.
Amendment to Article 11(4)(a) of the India-Japan Convention substitutes the list of qualifying Japanese government owned financial institutions: the Bank of Japan; Japan Bank for International Co operation; the Japan International Co operation Agency; and such other wholly government owned financial institutions as may be agreed upon between the Governments, thereby determining which entities are not subject to tax in the other Contracting State in respect of interest.

Exemption under section 10(23C)(iv) granted to Jamia Hamdard, subject to conditions on application, investment, business and dissolution.
Notification declares Jamia Hamdard eligible for exemption under section 10(23C)(iv) for assessment years 1999-2000 to 2001-2002, conditional on applying or accumulating income wholly for its objects; restricting investments to forms permitted by law (excluding certain voluntary contributions held as physical articles); treating business income as exempt only if incidental and maintained in separate books; regular filing of income-tax returns; and on dissolution transferring surplus to a like-minded charitable organisation.

Exemption of legislative allowances limited in aggregate per month for members of State Legislature under section 10(17)(iii).
Specification under section 10(17)(iii) designates that all allowances received by members of a State Legislature or any Committee thereof are exempt for income tax purposes only to the extent of two thousand rupees per month in the aggregate, exercising the Central Government's power under the cited sub clause to define the permissible exemption ceiling. The notification supersedes the earlier notification and takes effect from 1 April 1998.

Advance ruling procedure amended: resident applications, form revisions, and mandatory declaration that issues are not pending elsewhere.
Amendments to rule 44E and Forms 34D and 34E limit FORM NO. 34D to resident applicants seeking advance rulings for transactions with non-residents, revise form headings, remove a phrase regarding non-resident tax liability, and require verification declarations that the issues are not pending before any tax authority, the Appellate Tribunal or any Court. FORM NO. 34E is adjusted to clarify Tribunal references and its notes now require that questions of law and fact be precise and directly relate to computation of total income.

Specification of public sector company as applicant under Chapter XIX-B establishes eligibility for tax proceedings upon gazette publication.
Central Government, exercising delegated authority under the Income-tax Act, specifies public sector company as the class of persons authorised to act as applicant for the purposes of Chapter XIX-B, superseding a prior notification; the specification takes effect on publication in the Official Gazette.

Specification of income-tax authorities: notification lists designated officer ranks to serve under the Act for tax administration.
Central Board of Direct Taxes, exercising powers under clause (a) of sub section (1) of section 138 of the Income tax Act, 1961, issued Notification No. 731(E) dated 28 7 2000 specifying the following income tax authorities: Chief Commissioner of Income tax; Director General of Income tax; Commissioner of Income tax; Director of Income tax; Additional Commissioner of Income tax; Additional Director of Income tax; Joint Commissioner of Income tax; and Joint Director of Income tax.

Research expenditure approval under Section 35(1)(ii) imposes mandatory separate accounts, annual returns, and audited submissions by fixed deadlines.
Approval is granted to the Diabetic Association of India (Research Centre) as an Association for research expenditure under section 35(1)(ii) for 1 4 2000 to 31 3 2003, subject to conditions: maintain separate books for research, file annual scientific research return to the Department of Scientific and Industrial Research by 31 May, and submit audited annual accounts and a separate audited income and expenditure account for the research activities to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the local Commissioner/Director of Income tax (Exemptions) by 31 October, alongside the return to the Assessing Officer.

Research deduction approval requires institutions to maintain separate research accounts and annually file audited research accounts and returns.
Approval under section 35(1)(iii) is granted to the Indian Institute of Education, Pune as an Institution subject to conditions: maintain separate books for research activities; furnish annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May; and submit copies of audited annual accounts and audited income and expenditure account for research activities to specified tax and departmental authorities by 31 October, alongside the return of income-tax to the designated Assessing Officer.

Approval of institution status requires separate research accounts, annual departmental return, and audited submissions for tax exemption.
Approval of Vedhshala as an institution eligible for exemption under section 35(1)(ii) is notified for a specified financial period, subject to conditions: maintain separate books for research activities; file an annual research return to the Department of Scientific and Industrial Research by the prescribed date; and submit audited annual accounts and audited income and expenditure accounts for research activities to the Director General of Income tax (Exemptions), the Secretary of the Department of Scientific and Industrial Research, and the appropriate Commissioner/Director of Income tax (Exemptions) by the stated annual deadline.

Tax exemption approval under section 10(23G) for a BOT road project conditioned on statutory compliance and audited accounts.
Approval is granted to Indore Development Fund Ltd. for construction of thirteen roads in Indore on a Build-Operate-Transfer basis under section 10(23G) read with rule 2E for the assessment years 2000-2001 to 2002-2003, subject to compliance with the statute and rule 2E(7)'s record keeping and audit requirements; the Central Government may withdraw approval if the enterprise ceases the infrastructure activity, fails to maintain audited accounts, or fails to furnish the audit report.

Tax exemption approval under income tax: granted subject to compliance, audit and withdrawal conditions for captive jetty operations
Approval under section 10(23G) is granted to Dahej Harbour and Infrastructure Ltd. for the development, maintenance, administration and use of a captive jetty at Port Dahej on a BOT basis, subject to compliance with statutory provisions and rule 2E requirements; the Central Government may withdraw approval if the enterprise ceases the infrastructure facility, fails to maintain books and obtain an audit, or fails to furnish the required audit report.

Approval under section 35: institution granted tax-exemption status subject to separate research accounts and annual reporting obligations.
Approval is granted to Sangeet Research Academy, Calcutta as an institution under section 35(1)(ii) subject to maintaining separate books for research activities and filing an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by the prescribed deadline; the institution must also submit audited annual accounts and a separate audited income and expenditure account for research activities to the Director-General of Income-tax (Exemptions), the Secretary, DSIR, and the local tax authority by the prescribed deadline, in addition to its return of income.

Research institution approval under section 35(1)(ii) mandates separate research accounts and specified annual audited filings.
Approval is granted to National Academy of Agricultural Sciences as an Institution under section 35(1)(ii) subject to conditions: maintain separate books for research activities; furnish an annual return of research activities to the Secretary, Department of Scientific and Industrial Research by the annual deadline; and submit audited annual accounts and audited income and expenditure account for the research activities to the Director General of Income tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the Commissioner/Director of Income tax (Exemptions) having jurisdiction by the annual deadline.

Post Office Monthly Income Account rules: single and joint deposit limits set; interest rounded to nearest rupee.
The rules require a single deposit in multiples of one thousand rupees with maximum limits of three lakhs for a single account and six lakhs for a joint account, and they add that interest shall be rounded to the nearest rupee, with fifty paise or more treated as one rupee and amounts less than fifty paise ignored.

Tax exemption for charitable society conditioned on exclusive application of income, permitted investments, separate business accounts, and non distribution on dissolution.
Notification grants tax-exempt status to The Hind Kusht Nivaran Sangh subject to conditions: apply or accumulate income exclusively for its objects; restrict investments to forms permitted under section 11(5) (except certain voluntary contributions retained as jewellery or furniture); treat business income as exempt only if incidental and separately accounted; regularly file income-tax returns; and, on dissolution, transfer surplus and assets to a society with similar objectives instead of distributing them to members.

Tax exemption recognition granted to Sonepat Hindu Educational and Charitable Society subject to regular income tax return filing.
The Central Government notified Sonepat Hindu Educational and Charitable Society, Sonepat, Haryana, under sub clause (iv) of clause (23C) of section 10 of the Income tax Act, 1961, by Notification No. 2012 dated 17 7 2000, recognising the society for the assessment year 1999 2000, subject to the condition that the assessee will regularly file its return of income before the Income tax authority in accordance with the Income tax Act, 1961.

Tax exemption approval under section 10(23G) subject to compliance and audit requirements for listed power projects.
Central Government approval permits specified undertakings to claim the tax exemption under section 10(23G) for assessment years 1999-2000 to 2001-2002, conditional on compliance with statutory provisions and applicable rules; approval may be withdrawn if an undertaking ceases to provide the infrastructure facility, fails to maintain and audit books of account, or fails to furnish the required audit report.

Tax approval for housing finance deduction granted, subject to annual audited filings and maintenance of a special reserve.
Central Government approval was granted to Grahsaukhya Housing Development Finance Limited for purposes of section 36(1)(viii) of the Income tax Act for assessment years 1996-97 to 1999-2000, subject to conditions: main object of providing long term residential housing finance; annual submission of audited profit and loss account and balance sheet with a statement of deduction before the due date for filing returns; creation and maintenance of the required special reserve; and fulfillment of all other statutory conditions under section 36(1)(viii).

Infrastructure facility designation: multilevel computerised car parking receives tax-exempt status under specified income-tax provisions notification.
Multilevel computerised car parking is designated as an infrastructure facility for income-tax purposes by formal notification of the Central Board of Direct Taxes, invoking explanatory provisions that bring such parking facilities within the tax-favourable classifications for exemption and deduction eligibility under the income-tax framework.

Research exemption approval requires approved associations to maintain separate research accounts and annual audited reporting.
Approval confers association status for research-related tax exemption on Tata Institute of Fundamental Research for the stated period, subject to maintaining separate research accounts, furnishing an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by the prescribed annual deadline, and annually submitting audited accounts and an audited income and expenditure account for research activities to designated tax and departmental authorities while filing the return of income to the Assessing Officer.