Tax exemption under section 10(23C)(iv) granted conditionally, requiring exclusive application, permitted investments, separate business accounts, returns and asset transfer.
The Central Government notifies Sri Aurobindo Society, Kolkata, for conditional tax-exempt status under section 10 clause (23C)(iv) for the specified assessment years, subject to conditions: exclusive application or accumulation of income for its objects; investments limited to modes permitted by Section 11(5) (except certain voluntary contributions retained in kind); business income excluded unless incidental and maintained in separate books; regular filing of income-tax returns; and transfer of surplus and assets to a like charitable organisation upon dissolution.

Deduction under section 33AB: amended Form 3AC prescribes detailed accounting, deposit and withdrawal disclosures for tea/coffee/rubber businesses.
Substituted Part III of Form No.3AC requires disclosure of books examined, accounting method and any change, whether separate accounts are maintained for growing/manufacturing tea, coffee or rubber, profits or, where separate accounts are absent, turnover, overall profit and proportionate profit before deduction, details of deposits into the National Bank or Deposit Account (account/branch, dates, amounts), withdrawals with dates and amounts, purposes and utilisation of withdrawals, whether amounts were used for specified assets or also claimed as allowances, unutilised withdrawals, asset disposals with acquisition/sale details, and the amount of deduction permissible.

Tax collection at source: declaration, remittance timing and certificate procedures clarified under amended rules.
Buyers may submit a prescribed, verified duplicate declaration that specified goods are for manufacturing/processing/production and not trading, one copy of which the seller must forward to the Chief Commissioner/Commissioner by the seventh day of the month following receipt. Collectors must remit sums collected to the Central Government within one week from the last day of the month via authorised banks with an income-tax challan (except Government collections). Collectors must issue prescribed certificates to buyers within one month of debit/receipt, may issue consolidated certificates for half-year periods on request, and may furnish duplicate certificates subject to payment certification and an indemnity bond before credit is allowed.

Tax exemption under section 35AC extended for specified hospital modernisation project in Maharashtra following National Committee recommendation.
The Central Government specifies the Dr. M.L. Dhawale Memorial Trust project in Maharashtra as an eligible project under section 35AC, covering construction and furnishing of a thirty bed hospital, modernisation of existing hospital facilities, and mobile health clinics/community health workers programme; the specification follows a National Committee recommendation under rule 11M(5) and extends the project's eligibility for a further period commencing from the assessment year 2004 2005.

Exemption under section 35AC extended to braille press construction project, preserving its eligible tax-exemption status.
Exemption under section 35AC was extended to the Blind Persons' Association project for construction and operation of Braille Press facilities and related buildings at Vidyapalli, Malanda, Mahinagar, South-24 Parganas following a National Committee recommendation under rule 11M(5). The Central Government specified the scheme for a further three-year period commencing assessment year 2004-2005, confirming the project scope and estimated cost to preserve its eligible project status for tax exemption purposes.

Exemption under section 35AC extended for integrated rural development project, preserving its eligibility for tax benefits.
The Central Government specified an Integrated Rural Development project at ten villages in Tijara and Nimrana Blocks, Alwar, Rajasthan, executed by PHD Rural Development Foundation, as an eligible project under section 35AC for tax exemption, with an estimated cost of twenty five lakhs; following a National Committee recommendation that the project was being properly executed, the government extended the project's eligibility for a further two years commencing from assessment year 2004-2005.

Income tax exemption provision: eligibility for a nonprofit college project extended following national committee recommendation.
The Central Government, under the Income tax Act exemption provision, specifies the Shri Rang Navchetan Mahila College project executed by Shri Navchetan Education Society Valia as an eligible project for a further three year period commencing with the assessment year 2002 2003, following the National Committee's recommendation that the project is being properly executed; the notification records the project's estimated cost and an associated corpus fund as part of the specification.

Tax exemption under section 35AC extended for construction and equipping of a charitable Vrudhashram and Eye Hospital project.
The Central Government specified the construction, equipment and amenities project for a Vrudhashram and Eye Hospital at Sachina by Shri Hari Public Charitable Trust as an eligible project for a further three-year period following a National Committee recommendation that the project is being executed properly, thereby extending the period during which exemption under the relevant income tax provision applies to expenditures or donations made to that specified project.

Exemption under section 35AC: Kailash Cancer Hospital project retains eligible tax-exempt status for a further three-year period.
The Central Government specifies the construction, furnishing, equipment purchase and water works project for Kailash Cancer Hospital by Muni Seva Ashram as an eligible tax-exempt scheme for a further three-year period beginning with assessment year 2004-2005, following the National Committee's recommendation under the income-tax rules that the project is being executed properly and warrants extended specification beyond the initial three-year period.

Exemption under section 35AC extended for a charitable eye research project following National Committee recommendation.
The Central Government has specified the construction and equipping of an Eye Research Training Centre at Veerayatan, Rajgir, Nalanda, Bihar, as an eligible project for a further three-year period commencing with the assessment year 2004-2005, following the National Committee's recommendation that the project is being executed properly and relying on the statutory mechanism permitting extensions of specified eligible projects.

Tax exemption under section 35AC: eligible technical school project specified and extended following National Committee recommendation.
The Central Government specified the construction, equipment and running of a technical school at Village Sola by Shri Purushotam Seva Trust as an eligible project under section 35AC, noting prior specifications and extensions. The National Committee, satisfied with execution, recommended under rule 11M (sub rule (5)) a further three year specification, and the Government accordingly extends the project's eligibility for a further three years commencing assessment year 2004-2005 at the stated estimated cost.

Exemption under section 35AC extended for rural infrastructure project; project re specified as eligible scheme for additional period.
The Central Government specifies that the repair and construction of buildings and purchase of equipment at Thava by Gram Nirman Kelvani Mandal Thava qualifies as an eligible project for exemption under section 35AC, and, following the National Committee's recommendation under rule 11M(5) of the Income tax Rules, the Government extends the specification for a further three year period commencing from the stated assessment year.

Exemption under section 35AC extended for hospital construction and running following national committee recommendation for further period.
The Central Government, under the Explanation to section 35AC and on the National Committee's recommendation under the Income-tax Rules, specifies the construction and running of a hospital at Mount Abu by Global Hospital and Research Centre as an eligible project for a further three-year period commencing with the stated assessment year; the notification records the applicant's details, the estimated project cost and a separate corpus fund and notes that the project is likely to extend beyond six years and is being executed satisfactorily.

Project eligibility under section 35AC extended after National Committee recommendation, allowing continued tax-exempt charitable construction.
The Central Government specified the construction and furnishing of Shakuntia Devi Mahila Mahavidyalaya and Balika Inter College at Kaimganj by Chandra Prakash Public Charitable Trust as an eligible project under section 35AC, initially for three years beginning with assessment year 2000-2001, and, following a recommendation by the National Committee under rule 11M(5) that the project was being executed properly, extended the specification for a further two years commencing from assessment year 2003-2004.

Tax exemption under section 35AC: central government approves institutions and specifies deductible project costs for charitable schemes.
The Central Government, under section 35AC, approves specified institutions and designates eligible projects or schemes for each, prescribing the maximum project cost allowable as a deduction and fixing the assessment years for which the approval applies. Certain approvals are subject to compliance conditions such as maintaining beneficiary records, ensuring access for economically weaker sections, and filing Chartered Accountant certification that prescribed beneficiary proportions received free benefits. Claimants must restrict claims to the eligible project descriptions, respect the maximum deductible limits, and meet the procedural certification and recordkeeping requirements within the notified time periods.

Certificate requirement for Special Economic Zone undertakings: specified Form No. 10CCABA required for section 80HHC compliance.
The amendment inserts sub rule (2A) in Rule 18 BBA mandating that the certificate required under the proviso to sub section (4) of section 80HHC, when furnished by an undertaking in a Special Economic Zone, must be in Form No. 10CCABA; the Appendix is likewise updated to insert Form No. 10CCABA and to amend Form No. 10CCAC to cover sales to undertakings in Special Economic Zones.

Medical certificate requirement for disability deduction: file prescribed certificate with return; temporary certificates have limited validity.
Claimants must furnish with their income-tax return a medical authority certificate in the prescribed form and pursuant to notified guidelines for disability evaluation; where the disability is temporary and reassessment is required, the certificate is valid only for the assessment years spanning the certificate's stated validity. The amendment substitutes the prior certification rule and omits the separate rule previously governing certification procedures.

Amendment to Income-tax schedules: substitution of specified jurisdictional entries, effective on Gazette publication.
The Central Board of Direct Taxes, exercising powers under section 120, substitutes specified serial numbers and entries in Schedule I of notifications S.O. 733(E) and S.O. 734(E) dated 31 July, 2001, thereby revising the designation and jurisdictional allocation of Income-tax authorities for the listed entries; other contents remain unchanged and the notification takes effect from publication in the Official Gazette.

Post Office Monthly Income Account: interest rate reduced from 5% to 3.50%, effective on Gazette publication.
The Central Government substitutes the figure and words "5 per cent" in rule 10 of the Post Office (Monthly Income Account) Rules, 1987 with "3.50 PER CENT." The amendment, titled the Post Office (Monthly Income Account) (Second Amendment) Rules, 2003, is made under the Government Savings Banks Act and comes into force on publication in the Official Gazette.

Tax exemption notification under clause 23C(iv) grants recognition subject to operational, investment and reporting conditions.
Notification designates Maharashtra State Bharat Scouts and Guides, Mumbai as eligible under clause (23C)(iv) of section 10 for assessment years 1998-1999 to 2000-2001, conditional on applying income wholly to its objects, restricting investments to modes under section 11(5) (except certain voluntary contributions), treating business income as incidental only with separate books, filing regular income-tax returns, and transferring surplus and assets on dissolution to a like charitable organization.