Tax exemption eligibility extended for Karuna Trust health project; government notification also increases the maximum project cost.
The Central Government specifies Karuna Trust's program of eye operations, polio camps, oxygen cylinder seva and ambulance service across Gujarat as an eligible project for tax-exemption purposes and, on the National Committee's recommendation, extends its eligibility for a further three years while increasing the maximum sanctioned project cost by amendment to the earlier notification.

Exemption under section 35AC: approved education project qualifies for a capped deduction for specified assessment years.
Approval is granted under section 35AC for Sihor Education Foundation's project comprising construction, equipment, furnishing, operation of a college and a corpus fund, with an identified estimated project cost and a specified maximum portion of that cost allowable as a deduction; the notification limits the temporal scope of the approval to particular assessment years.

Approval under section 10(23G) ties tax-favourable recognition to compliance, audit and licence requirements for satellite mobile service.
Approval under section 10(23G) and rule 2E accords tax-favourable recognition to the specified Global Mobile Personal Communication by Satellite service operator, subject to compliance with section 10(23G)/rule 2E, maintenance of books of account, audit by an accountant, furnishing the audit report, and execution of the licence agreement; cessation of infrastructure activity, failure to maintain/audit accounts or to furnish the audit report, or failure to sign the licence agreement will permit the Central Government to withdraw the approval.

Tax approval for infrastructure project requires compliance, audited accounts, and permits government withdrawal for noncompliance.
Approval is granted to Rajdeep Road Developers (P.) Ltd. for a BOT development of a major bridge, qualifying the project under section 10(23G) read with rule 2E for the specified assessment years. The approval is subject to compliance with section 10(23G) and rule 2E, including maintenance of books and furnishing of an audit report under sub rule (7) of rule 2E; the Central Government may withdraw approval if the undertaking ceases the infrastructure activity or fails the accounting and audit requirements.

Approval under section 10(23G) grants tax exemption to a VSAT infrastructure operator subject to compliance and audit conditions.
Approval is granted under section 10(23G) read with rule 2E for specified assessment years for the development, maintenance and operation of a domestic value added CUG 64KBPS VSAT data network service. The approval is conditional on compliance with statutory provisions and is subject to withdrawal if the undertaking ceases the infrastructure activity, fails to maintain audited books of account as required by rule 2E(7), or fails to furnish the audit report.

Compulsory PAN quoting in tax statements requires banking entities to comply later, with other persons required to comply earlier.
Specifies commencement dates for the proviso to subsection (5B) of the Income-tax Act requiring quoting of PAN in tax deduction statements: banking companies under the Banking Regulation Act and co-operative societies engaged in banking are made subject to the PAN quoting requirement from a later specified commencement date, while every other person must comply from an earlier specified commencement date; specification made under the first proviso to the relevant income-tax provision.

Exclusion of neighbouring-country travel from 'travel to any foreign country' under income tax provisions alters foreign travel classification.
The notification specifies that the expression "travel to any foreign country" in the income-tax explanation concerning places of pilgrimage and travel shall not include travel to certain neighbouring countries, creating a categorical exception for journeys to those states from the statutory definition of foreign travel used for that tax-return provision.

Compulsory return exemption: specified non-residents and senior individuals not in business excluded from first proviso application.
The Central Government specifies classes exempted from the first proviso: non-residents as per the proviso's conditions, and senior individuals not engaged in any business or profession during the previous year, thereby excluding those classes from application of the first proviso.

Cost Inflation Index specified for the relevant financial year under section 48 amendment, affecting capital gains computation.
The Central Government, invoking the Explanation to section 48 of the Income-tax Act, by notification S.O.510(E) dated 11-6-2001, specifies the Cost Inflation Index for the financial year commencing 1 April 2001. Having regard to seventy-five per cent of the average rise in the Consumer Price Index for urban non-manual employees for the preceding year, the notification amends the earlier CBDT table by inserting a new serial entry for the 2001-2002 year with the prescribed index to be used for indexation in capital gains computation.

Tax exemption approval for research activities requires separate research accounts, annual DSIR return and audited submissions by deadline.
Approval under section 35(1)(ii) registers the Centre for Study of Man and Environment as an association eligible for research tax exemption, conditional on maintaining separate research books, filing an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31st May, and submitting audited annual accounts and audited income and expenditure accounts for 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) by 31st October each year, plus filing the return of income with the Assessing Officer.

Research institution approval under section 35(1)(ii) conditions tax exemption on separate accounts and annual audited filings.
Approval is granted to specified organisations as institutions under clause (ii) of sub section (1) of section 35, subject to maintaining separate books for research, filing an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts and audited research income and expenditure accounts to designated tax and DSIR authorities by 31 October each year; renewal applications must be made in triplicate through the Commissioner/Director of Income tax (Exemptions) and sent in triplicate to the DSIR Secretary.

Approval under section 10(23G) conditions tax exemption for specified infrastructure enterprises subject to compliance and audit requirements.
Approval under section 10(23G) is granted to specified water supply and sewage treatment projects subject to conformity with section 10(23G) and rule 2E of the Income-tax Rules; the approval is conditional on maintaining books of account, obtaining the required audit and furnishing the audit report, and may be withdrawn if the enterprise ceases the infrastructure activity or fails the audit or reporting requirements.

Approval under section 10(23G) ensures listed infrastructure enterprises retain exemption subject to compliance and audit.
Approval is granted to specific enterprises for the purpose of tax exemption under section 10(23G) for assessment years 2001-2004, conditional on compliance with the statute and rules, maintenance of books of account, audit by an accountant, and furnishing of the audit report. The Central Government may withdraw approval if an enterprise ceases to carry on an infrastructure facility or fails to maintain accounts, obtain the required audit, or furnish the audit report.

Statutory rate fixation under Fourth Schedule rule 6(b) establishes a new rate effective in 2001, superseding prior notification.
The Central Government, under clause (b) of rule 6 of Part A of the Fourth Schedule to the Income tax Act, fixes a percentage rate effective 1 April 2001 by Notification S.O.484(E) dated 30 May 2001, superseding Notification S.O.120(E) dated 27 March 1986; the instrument was later superseded by Notification 69/2010 dated 26 August 2010.

Tax exemption for a charitable institution conditioned on exclusive application of income, permitted investments, recordkeeping, and transfer on dissolution.
Notification grants conditional tax-exempt status to Shri Gajanan Maharaj Sansthan, Shegaon for specified assessment years, requiring application or accumulation of income exclusively for its objects, limiting investments (except certain voluntary contributions in kind) to prescribed modes, excluding business income unless incidental with separate books, mandating regular income-tax return filing, and directing that on dissolution surplus assets be transferred to a charitable organisation with similar objectives.

Industrial park approval under section 80-IA imposes conditions on area allocation, infrastructure investment and compliance obligations.
Central Government notifies L & T Infocity Limited's undertaking as an industrial park under section 80-IA, subject to schedule conditions specifying promoter, location, area, permitted activities, unit numbers, allocable area rules, percentages for industrial and commercial use, investment and infrastructure expenditure minima, and definition of infrastructure. Conditions include a minimum industrial allocation of 66%, commercial allocation capped at 10%, limits on single unit occupation, separate approvals for foreign investment, continued operation during benefit period, and governmental power to withdraw approval for noncompliance or undisclosed material facts.

Tax exemption under section 10(23G) approved for a thermal power project, subject to compliance, books and audit reporting.
Approval is granted to BPL Power Projects (AP) Ltd.'s 2 x 260 MW Ramagundam coal-fired thermal power project for income-tax exemption under section 10(23G) read with rule 2E for specified assessment years. The approval is conditional on compliance with section 10(23G) and rule 2E, maintenance of books, obtaining an accountant's audit as required by the relevant sub-rule, and furnishing the audit report; the Central Government may withdraw approval if the undertaking ceases infrastructure operations or fails the accounting and reporting conditions.

Tax exemption approval under section 10(23G) confirmed for specified infrastructure undertakings, subject to compliance and audit conditions.
Approvals granted to specified enterprises for tax-exempt status under the Income-tax Act provision for assessment years 2002-2003 to 2004-2005, covering an 18 MW wind-farm by Karma Energy Limited and a 220 MW naphtha-based power project by Tanir Bavi Power Company Pvt. Ltd. Approval is conditional on compliance with rule 2E of the Income-tax Rules, including maintaining books of account, obtaining an audit, and furnishing the audit report; the Central Government may withdraw approval on ceasing infrastructure activity or failure to comply with accounting and audit obligations.

Committee appointments under tax-linked welfare provisions reconstituted; chairman and members appointed for a fixed three-year term.
The Central Government reconstituted the National Committee for Promotion of Social and Economic Welfare under the income-tax statutory framework and governing rules by appointing a Chairman and thirteen members listed by name and designation to replace the prior members; these appointments take effect from 21 May 2001 for a three-year term and are issued pursuant to the enabling provisions and prior amendments concerning the Committee's constitution.

Tax-free bonds designation confirms NPCL Series-XIV bonds qualify for exemption subject to holder registration requirement.
Central Government specifies the Nuclear Power Corporation of India Limited Series XIV secured, redeemable, non cumulative bonds as tax-free under clause (15)(iv)(h) of section 10, describing their redemption profile, put call options, interest payment, denomination and distinctive numbers. The exemption is subject to the condition that a bondholder registers his or her name and holding with the prescribed agency to qualify for the income exemption.