New corporate income-tax ITR form ITR-6 introduced for companies, effective 1 April 2024, with comprehensive schedules.
Notification substitutes a new Form ITR-6 in Appendix-II of the Income-tax Rules, 1962, effective 1 April 2024, for companies other than those claiming exemption under section 11. The new ITR-6 is a comprehensive corporate return collecting corporate identification, residency and audit details, Ind AS compliance, and extensive schedules including balance sheet, profit & loss (with Ind AS variant), depreciation, capital gains, ICDS adjustments, MAT computations, loss carryforwards, foreign assets and income, GST, and related-party/shareholder disclosures to support tax computation and e filing.

Exemption under section 10(46): specified incomes of State Legal Service Authority Chandigarh exempted subject to non commercial and reporting conditions.
Notification confers exemption under section 10(46) to State Legal Service Authority Union Territory Chandigarh for specified income comprising grants from specified judicial and legal services authorities, grants or donations from central or relevant state governments for Legal Services Authorities Act purposes, amounts received under court orders, recruitment application fees, and interest on bank deposits.

Extension of tax exemption applicability under section 10(46) extends deemed coverage to specified financial years for prior notifications.
Amendment substitutes paragraph 3 in the listed income-tax notifications to deem those notifications applicable for financial years 2020-2021 through 2024-2025 (assessment years 2021-2022 through 2025-2026), and to deem a separate notification applicable for financial years 2020-2021 through 2022-2023 (assessment years 2021-2022 through 2023-2024); the explanatory memorandum states no person is adversely affected by retrospective effect.

Summoning and examination of witnesses authorised: inquiring authority empowered to compel attendance of specified witnesses in a departmental inquiry.
The Central Government authorises the inquiring authority under sub-section (1) of section 4 of the Departmental Inquiries (Enforcement of Attendance of Witnesses and Production of Documents) Act, 1972 to exercise the powers specified in section 5 to summon, enforce attendance of, and examine on oath ten named witnesses in the departmental inquiry relating to Shri Sailendra Mamidi, Principal Commissioner of Income Tax (Retd.).

Enforcement of attendance of witnesses authorises inquiring authority to summon and examine specified witnesses in a departmental inquiry.
The Central Government authorises the inquiring authority, under the Departmental Inquiries (Enforcement of Attendance of Witnesses and Production of Documents) Act, 1972, to exercise statutory powers to summon, enforce attendance of, and examine on oath eleven specified witnesses for the departmental inquiry relating to Shri S. Sarath (Retd.).

Exemption under section 10(46): specified fees, maintenance fund receipts and interest exempt subject to conditions.
Exemption is granted to Punjab State Faculty of Ayurvedic and Unani Systems of Medicine under section 10(46) for fees, maintenance fund receipts, and interest on bank deposits, subject to conditions that the body shall not engage in commercial activity, that activities and the nature of specified income remain unchanged, and that it files returns under clause (g) of sub-section (4C) of section 139. The notification is applied retrospectively to the listed assessment years.

Tax exemption for Chennai Metropolitan Water Supply and Sewerage Board: specified income exempt subject to non-commerciality and compliance.
Notification grants tax exemption to Chennai Metropolitan Water Supply and Sewerage Board under clause (46) of section 10 for specified income including government grants and subsidies, centage receipts from municipalities, taxes and charges, income from sale of farm produce and property rent, miscellaneous receipts such as interest on specified investments and sale of assets, and interest on bank deposits, subject to conditions prohibiting commercial activity, requiring unchanged nature of activities and income, and specified return-filing compliance.

Tax exemption for specified income: grants and interest of Polavaram Project Authority exempted subject to conditions.
Notification under clause (46) of section 10 exempts specified income of Polavaram Project Authority-grants from the Central Government and interest on bank deposits-subject to conditions: no commercial activity, unchanged activities and nature of specified income across financial years, and compliance with the return-filing obligation. The exemption is applied retrospectively to the stated assessment years and the notification carries a certification of no adverse effect from retrospective application.

Exemption under section 10(46): specified incomes of Haryana State Board exempted subject to non commercial and filing conditions.
Government notification exempts specified incomes of Haryana State Board of Technical Education, Panchkula: grants, assignments and contributions from Central and State Governments; fees including affiliation and examination fees; royalties, charges and penalties; bequests, donations and endowments; sale proceeds of securities and rents and profits from property vested in the Board; and interest on bank deposits. The exemption is conditional on the Board not engaging in commercial activity, maintaining unchanged activities and income nature across financial years, and filing its return as required by clause (g) of sub-section (4C) of section 139. The notification applies retrospectively to assessment years 2022-2023 and 2023-2024.

Exemption under clause (46) of section 10: specified income of Karmayogi Bharat exempted subject to conditions on activities and filings.
Notification designates Karmayogi Bharat, a government owned charitable company, as exempt under clause (46) of section 10 in respect of specified income: grants/subsidies from government bodies; subscription, assessment and onboarding fees; receipts from sale of forms, materials, scrap and tender fees; and interest from banks and government securities and bonds. The exemption is subject to conditions prohibiting commercial activity, requiring unchanged activities and income character across financial years, and mandating prescribed filing of return of income. The notification is applicable for the stated sequence of assessment years.

Tax exemption for District Legal Service Authority permits specified grants, court awards, fees and interest, subject to non-commerciality and filing.
Notification under clause (46) of section 10 exempts specified income of District Legal Service Authority Union Territory Chandigarh, including grants from legal services authorities, government grants or donations for the Legal Services Authorities Act, court-ordered receipts, recruitment application fees, and interest on bank deposits, subject to conditions prohibiting commercial activity, maintaining unchanged activities and income nature across years, and compliance with prescribed income-tax return filing; the notification is applied retrospectively to specified recent assessment years.

Notification correction renames a previously issued notification to an amended identifier and updates the Gazette reference.
Corrigendum states that the income-tax notification originally published as Notification No. 89/2023 shall be read as Notification No. 89A/2023, referencing its Gazette publication and the Ministry of Finance (Department of Revenue) notification series; the amendment is administrative and limited to citation and numbering.

Investment in financial products by non-residents: notified activity when routed through IFSC Unit and Offshore Banking Unit.
Notification classifies investment in a financial product by a non-resident, made pursuant to a contract entered into by a capital market intermediary that is a Unit of an International Financial Services Centre, as a notified activity where the income from the investment is received in the non-resident's account maintained with the Offshore Banking Unit of that IFSC, and defines the key terms by reference to the IFSC Authority regulations and the Special Economic Zones Act.

Exemption under section 10(46): specified examination fees and bank deposit interest exempt for Madhya Pradesh Professional Examination Board.
Notification under clause (46) of section 10 exempts Madhya Pradesh Professional Examination Board, Bhopal, in respect of fees of examination and sale of application forms and interest on bank deposits, subject to conditions prohibiting commercial activity, maintaining unchanged activities and income nature, and filing returns as required by clause (g) of sub section (4C) of section 139; the notification is applied retrospectively to assessment year 2023-2024.

Tax exemption for specified income confirms grants and interest are exempt for a rural livelihood society, subject to compliance.
Notification under Section 10(46) declares Karnataka State Rural Livelihood Promotion Society exempt in respect of specified income: grants from the Central Government, grants from the State Government of Karnataka, and interest on bank deposits, subject to conditions prohibiting commercial activity, maintaining unchanged activities and income nature, and filing returns as required by clause (g) of sub-section (4C) of section 139.

Exemption from specified income granted to Bellary Urban Development Authority, subject to non commerciality and filing conditions.
Notification under clause (46) of section 10 of the Income tax Act notifies Bellary Urban Development Authority as entitled to exemption for specified incomes: revenue from own layout development, private layout betterment collections, civil supervision charges, lease receipts from civic amenity sites, and interest on bank deposits; subject to conditions that the Authority shall not engage in commercial activity, that activities and the nature of specified income remain unchanged, and that it files its return under clause (g) of sub section (4C) of section 139; the notification applies retrospectively to assessment years 2021-2022 through 2023-2024.