Tax notification recognizes specified regulatory fees and deposit interest as exempt for a state electricity commission, subject to conditions.
Central Government notifies the Punjab State Electricity Regulatory Commission under clause (46) of section 10 to exempt specified income comprising processing fees for tariff determination, licence fees, petition fees and interest on bank deposits, subject to conditions that the Commission not engage in commercial activity, that activities and nature of the specified income remain unchanged throughout the financial years, and that returns are filed as required by clause (g) of sub section (4C) of section 139; applicable for financial years 2016-17 to 2020-21.

Authorized banks: applications for scheme deposits allowed only through banking companies under the Banking Regulation Act, excluding cooperative banks.
The substituted clause 7(1) of the Pradhan Mantri Garib Kalyan Deposit Scheme restricts receipt of applications for deposits in the form of Bonds Ledger Account to banking companies, other than cooperative banks, to which the Banking Regulation Act applies.

National Savings Certificates now may be issued through banks as well as post offices under amended rules.
The amendment inserts a definition of Bank as any branch of a public or private sector commercial bank authorised by the Government to issue certificates and substitutes the words "post office" with "post office or bank" in the rule governing issuance, thereby permitting authorised banks to issue National Savings Certificates under the existing regulatory framework.

Post Office (Monthly Income Account) rules amended: accounts may be opened in post offices or government authorised commercial banks.
The rules amend the Post Office (Monthly Income Account) Rules, 1987 by substituting "National Savings" for "Post Office" in rule 1(1), adding a definition of "Bank" as any government authorised public or private sector commercial bank branch in rule 2, and inserting a proviso in rule 4 that accounts may be opened in a post office or an authorised bank; amendments commence on publication in the Official Gazette.

Section 10(23EC) exemption confirmed for NCDEX Investor Protection Fund Trust, effective from assessment year 2013-14 onward.
Central Government specifies the NCDEX Investor (Client) Protection Fund Trust (PAN AABTN7481R), set up by the National Commodity and Derivatives Exchange Limited, as entitled to the income tax exemption under the provision corresponding to section 10(23EC) of the Income-tax Act for the assessment year 2013-14 and subsequent assessment years, by notification of the Ministry of Finance.

Correction of entity name: the earlier notification's published organization name is amended to the corrected registered name.
Corrigendum amends a prior government notification by correcting the name of the specified organization, directing that the name previously published in the earlier notification should be read as the corrected organizational name in the official Gazette entry.

Corrigendum correcting project cost entry in notification to reflect amended project cost, rectifying published Gazette error.
Corrigendum corrects a typographical error in Notification S.O.3018(E) dated 22.9.2016 concerning Srinivasa Educational Academy by directing that the project cost in the specified Gazette entry be read as "Rs. 47.00 crore" instead of the published "Rs. 4.70 crore", and is issued by the Department of Revenue with the official file reference and Director (National Committee) signature.

Tax exemption under Section 35AC: approved institutions' project extensions and cost enhancements; CSR funds excluded.
Notification confirms extension of approval periods or enhancement of sanctioned project costs for named approved institutions and projects, specifying prior notifications, original sanctioned amounts and validity, and the Committee's recommendation to either extend approval for the financial year till 2016-17 or increase approved project cost for that year. It limits the notification's temporal operation to the stated financial year for each project and excludes funds received under Schedule VII of the Companies Act and the Companies (CSR) Rules 2014 from the tax exemption.

Deduction under Section 35AC: Approved institutions and projects notified with specified eligible costs and CSR exclusion.
Notification under Section 35AC approves, on the National Committee's recommendation, specific institutions and their listed projects with estimated costs and specifies the maximum amount of such cost allowable as a deduction under Section 35AC for the period of approval, limited to the financial year indicated for each entry. The exemption under Section 35AC is excluded for funds received under Schedule VII of the Companies Act and the Companies (CSR) Rules.

Statement of Financial Transactions reporting: Electronic registration and mandatory form submission with prescribed schema and aggregation rules.
Specified reporting persons must register for an ITDREIN and submit the Statement of Financial Transactions in Form No. 61A via the e filing portal using the prescribed schema and digital signature. Submissions are organised by transaction type (SFT 001 to SFT 014) into Parts A-D of Form 61A, with aggregation rules for threshold determination, mandatory identifiers for traceability, correction statement procedures, and documented security, archival and retrieval obligations for reporting entities.

Avoidance of double taxation: treaty allocates taxing rights, limits source taxation and mandates information exchange.
Agreement between India and Cyprus allocates taxing rights to prevent double taxation and fiscal evasion: residents are covered; taxes on income and similar future taxes apply; immovable property is taxable at source; business profits are taxable at the residence state unless attributable to a permanent establishment in the source state with rules for profit attribution and limited intra-group deductions; specific rules govern dividends, interest, royalties, capital gains, personal services, non-discrimination, elimination of double taxation, mutual agreement procedure, exchange of information and mutual assistance in collection, with a protocol addressing transitional and interpretative clarifications.

PAN and Form 60 compliance required for certain bank and post office accounts; reporting and linking obligations imposed.
Amendments require deposit account holders who have not provided PAN or Form No.60 to supply them to specified reporting persons by a prescribed date; reporting persons must record and link PAN or Form No.60 details in transaction records and in any information furnished to tax or other authorities. The rule expands reportable transactions to include certain cash deposits and revises the reporting form's account summary to separate cash credits across defined periods and to capture aggregate cash debits.

Approval as Scientific Research Association subjects institution to strict audit, separate accounts, donation reporting, and compliance obligations.
TTCRC has been approved as a Scientific Research Association under clause (ii) of sub-section (1) of section 35 read with Rules 5C and 5D from assessment year 2016-2017, subject to conditions: sole objective of scientific research, carrying out research itself, maintaining separate books of accounts for research receipts and applications, obtaining an audit by a specified accountant and furnishing the audit report by the return due date, and maintaining an auditor-certified statement of donations and amounts applied for research. Approval may be withdrawn for failures to maintain books, furnish audit or donation statements, cease genuine research activities, or otherwise not conform to the statutory provisions and rules.