Tax exemption under section 35AC extended to a disability awareness and early detection project, renewing eligible status for further years.
The Central Government specifies the scheme of Disability Awareness and Rehabilitation in the Community and detection through screening of newborns at MGR Chengalpattu, executed by the Spastics Society of Tamilnadu, Centre for Special Education, as an eligible project for exemption under the Income-tax Act and, following the National Committee's recommendation, extends that specification for a further three assessment years commencing from the assessment year 1999-2000, noting an estimated project cost of rupees thirteen lakh forty thousand.

Exemption under section 35AC extended for maintenance of a public hospital scheme following governmental notification.
Central Government specified maintenance of P. H. Bhagwati Sarvajanik Hospital, Jasalpur, executed by Jasalpur Arogya Mandal, as an eligible project for tax exemption under section 35AC; after the National Committee recommended continuation, the Government extended the project's specification for a further three assessment years commencing from assessment year 1999-2000 at the estimated cost stated in the notification.

Exemption under section 35AC extended for an eligible college construction project, with its approved cost subsequently increased.
The Central Government, on the National Committee's recommendation under the Income-tax Rules, specified extension of eligibility for the Income-tax exemption for the construction, equipment and furnishing of a Degree College at Ghumarwin by Associated Cement Companies Limited and approved an enhanced estimated cost for the project, thereby continuing its qualification as an eligible project under section 35AC for an additional assessment year.

Exemption under section 35AC extended for Bal Ganga educational project, renewing eligible status for three assessment years.
Exemption under section 35AC is extended to the construction, furnishing and running of Bal Ganga Mahavidyalaya by Bal Ganga Shiksha Prasar Samiti, Kemera, as an eligible project for a further period of three assessment years commencing from the assessment year 1998-1999, following the National Committee's recommendation under rule 11M that the project was being executed properly.

Exemption under section 35AC approves a company's welfare project for a capped tax deduction, limited to a specified period.
Notification under section 35AC designates Bongaigaon Refinery and Petrochemicals Limited as an eligible company for welfare schemes under the special component plan and Tribal sub plan in specified Assam districts, specifies the estimated project cost and fixes the maximum amount of that cost allowable as a deduction under the provision, and declares the approval effective for one year in relation to the relevant assessment year.

Transport allowance exemption extended nationwide with retrospective tax relief for government employees and uniform treatment across ranks.
Amendment to rule 2BB of the Income-tax Rules, 1962 exempts a transport allowance granted for commuting between residence and place of duty throughout India up to a prescribed monthly amount, with effect from 1 August 1997, to ensure uniform tax treatment for Central, State and other government employees.

Tax exemption notification requires Delhi Golf Club to apply and invest its income under specified conditions for specified years.
Notification grants tax exemption under clause (23) of section 10 to Delhi Golf Club Ltd. for specified assessment years, conditional on applying or accumulating income solely for its objects as per section 11 (as modified), investing or depositing funds only in permitted forms, not distributing income to members except as grants to affiliated bodies, and excluding business profits from the exemption unless incidental and accounted for separately.

Permanent Account Number application deadline extended; affected persons must apply to the assessing officer for the new PAN series.
Amendment extends the deadline for persons required to obtain a Permanent Account Number under section 139A to apply to the Assessing Officer for allotment under the new PAN series by substituting the words fixing the earlier application cut off in paragraph 1 of the prior notification with the revised deadline for the specified assessment year.

Housing finance company approval under section 36(1)(viii) notified; conditional on compliance with the provision for specified years.
Approval of M/s. Livewell Home Finance Ltd., Secunderabad as a Housing Finance Company has been notified under section 36(1)(viii) of the Income-tax Act, 1961 for specified assessment years, subject to the condition that the company shall conform to and comply with the provisions of section 36(1)(viii).

Approval under section 35CCB: institution authorized for specified forest programmes, subject to separate accounts and annual audited reports.
Approval is granted to Tirumala Tirupati Devasthanam for specified forest conservation programmes under rule 6AAC for the purposes of section 35CCB, subject to a fixed validity period. Conditions require maintenance of a separate account for donations, annual submission of programme reports to the prescribed authority by the statutory deadline, and annual submission of audited accounts and programme-specific balance sheets showing income, expenditure and financial position.

Tax treaty limits source taxation and sets PE rules, withholding caps, and mutual procedures to avoid double taxation.
The notification gives effect in India to the India-South Africa income tax Agreement which allocates taxing rights between residents and source States, defines residency and permanent establishment, limits source withholding on certain cross border income subject to beneficial owner and permanent establishment exceptions, prescribes methods for elimination of double taxation by deduction or credit, and establishes mutual agreement, information exchange, and assistance in recovery procedures, together with entry into force, transitional application and termination rules.

Capital gains reinvestment under Section 54EA permits investment in specified company shares subject to a fixed retention period.
Specification under Section 54EA designates shares to be issued by M/s. Infrastructure Development Finance Company Limited as eligible for reinvestment of long term capital gains. The notification authorises issuance within one year up to the stated ceiling, conditions eligibility on investment of proceeds arising under the head "Capital gains" from transfer of long term capital assets, and provides that if the allotted shares are transferred within a three year retention period the initial investment shall be chargeable to tax as capital gains under sub section (2).

Capital gains reinvestment: specified shares issuance allows exemption subject to multi-year transfer clawback and tax chargeability.
Notification specifies that Infrastructure Development Finance Company Limited will issue specified shares within one year in an aggregate amount set out in the notification; investment in those shares qualifies only when made out of long-term capital gains. If the assessee transfers the allotted shares within seven years of allotment, the initial investment becomes chargeable to tax under the head Capital gains in accordance with the statutory provision.

In-house R&D approval: Secretary DSIR designated authority; separate audited accounts and formal approval required to claim deduction.
The amendments designate the Secretary, Department of Scientific and Industrial Research as the prescribed authority to approve company in-house R&D facilities for tax deduction purposes; applications must be in Form 3CK, approvals issued in Form 3CM and reports forwarded in Form 3CL. Approvals require that the facility not be limited to non-scientific activities, that separate accounts be maintained and annually audited and submitted by 31 October, and that assets for the facility cannot be disposed of without prior approval. An agreement and specified documentary submissions are mandated for claiming the deduction.

Approval as Housing Finance Company grants section 36(1)(viii) recognition for specified assessment years subject to compliance.
Central Government approval designates Character Housing Finance Ltd., Anand, as a housing finance company for purposes of the Income-tax provision on housing loan deductions for the specified assessment years, subject to the condition that the company conforms to and complies with the statutory requirements of that provision.

Exemption under section 35AC: hospital centre project specified as eligible for further assessment years following government notification.
The Central Government specified the Hospital Centre at Trivandrum of Ramakrishna Math as an eligible project for tax exemption, extending its recognition for a further period of three assessment years commencing from the assessment year 1999-2000, following a National Committee recommendation that the project was being properly executed; the notification records the project's estimated cost as rupees fifty-six lakhs.

Exemption under section 35AC: Shri Sadguru Seva Sangh Trust's rural welfare projects specified as eligible for three assessment years.
The Central Government specifies the Running of Multifarious Rural Welfare projects by Shri Sadguru Seva Sangh Trust in Madhya Pradesh, Gujarat and Maharashtra as an eligible project or scheme under section 35AC, fixing eligibility to three assessment years commencing with assessment year 1998-99 and formally approving an enhanced estimated project cost following the National Committee's recommendation.

Exemption under section 35AC: Helpage India projects for elderly and leprosy care specified as eligible for further tax benefit.
Central Government specifies Helpage India's scheme-medical care for old persons and leprosy patients, provision of homes for the aged, rehabilitation of destitute old women and conducting eye camps-as an eligible project under the income-tax exemption framework, extending eligibility for a further three assessment years commencing with the assessment year 1999-2000, following the National Committee's recommendation and noting the project's estimated cost.

Exemption under section 35AC extended for specified charitable construction project, allowing continued eligibility for a further period.
The Central Government re-specifies the construction of an overhead tank, Nurses Training School with hostel and doctors' quarters at Ramakrishna Mission Sevashrama, Kankhal, Hardwar, UP as an eligible project for exemption under section 35AC, following a recommendation by the National Committee that the project is being executed properly, and authorises its eligibility for a further three assessment years commencing from the assessment year 1999-2000 by Notification S.O. 219(E).

Notification amendment under section 35AC deletes a location qualifier, altering the notification's territorial wording.
Central Government amends the earlier notification issued under the Explanation to section 35AC, deleting the words "at Mumbai, Maharashtra" from the entry at Serial No. 14, column 3 of S. O. No. 862(E), thereby altering the notification's territorial wording on the recommendation of the National Committee.