Notification of charitable institution recognition grants tax exempt status to Thiruvaduthurai Adheenam for specified assessment years.
The Central Government, exercising powers under sub clause (v) of clause (23C) of section 10 of the Income tax Act, 1961, notifies Thiruvaduthurai Adheenam, Thanjavur Distt. as qualifying for that sub clause for the assessment years 1988 89 and 1989 90 by Notification No. S.O.2089 dated 17 5 1989.

Exemption from company disclosure rules for government financing firms, subject to note disclosure of unaccounted accrued interest.
The Central Government directs that the provisions of clause (b) of sub section (3) of section 209 of the Companies Act shall not apply to Government companies financing industrial projects approved under the Income tax Act, insofar as those provisions relate to income from interest on loans and advances, provided any accrued interest income not recorded in the books is disclosed by way of a note in the annual accounts.

Income-tax rate and surcharge changes implemented, with detailed rules for treating net agricultural income and withholding mechanics.
The Act prescribes revised income-tax rates and surcharge application through the First Schedule, sets out detailed rates for deduction at source and for calculation of income-tax and advance tax in specified cases, and establishes comprehensive rules for computing and treating net agricultural income - including aggregation, increased-amount computation and subtraction to determine tax on total income - while enacting numerous amendments to Income-tax, Wealth-tax, Gift-tax and Expenditure-tax statutes, introducing new exemptions, deductions and special computation provisions with specified effective and deemed retrospective dates.

Unit conversion rights let unitholders convert former income units into Growing Income units with repurchase and pricing rules.
Establishes the Growing Income Unit Scheme (Cumulative and Non Cumulative), effective 1 January 1990 for 66 months, permitting conversion by Income Unit Scheme, 1985 unitholders on an acceptance date, with repurchase of old certificates and issuance of new certificates in multiples of ten. Repurchases commence on or after 1 January 1993 on specified working days upon surrender of full certificates; repurchase price is normally determined monthly by valuing scheme assets less liabilities divided by units in issue, netting realisation costs, subject to adjustments and discretionary departures by the Trust. The Scheme terminates on 1 July 1995 with final repurchase and distribution.

Commencement of Chapter XXC brings specified urban and development authority areas within the Chapter under section 269U.
Notification under the powers of section 269U appoints the 1st day of June, 1989 as the date on which Chapter XXC of the Income-tax Act will come into force in specified urban and development authority areas. The notification enumerates seventeen areas-including a union territory, municipal corporations, development authorities, city and district jurisdictions, and a cantonment civil area-each defined by the respective state or local enactment, thereby fixing the territorial scope of the Chapter's application.

Tax exemption notification: fund recognised under section 10(23C)(iv) of the Income-tax Act for a specified assessment year.
The Central Government notifies the Chief Minister's Relief Fund of Maharashtra, Bombay as recognised under section 10(23C)(iv) of the Income-tax Act for the assessment year 1989-90, designating the Fund as meeting the statutory criterion for tax exemption under that sub-clause.

Recognition under section 10(23C)(iv) grants notified tax-exempt status to a charitable foundation for specified assessment years.
Central Government notification designates The M. P. Birla Foundation, Calcutta, as a recognized charitable institution for the purposes of the Income-tax Act provision conferring tax-exempt status, specifying coverage for a sequence of assessment years and recording the administrative file reference.

Tax exemption notification recognises an educational institute's eligibility under the charitable-education clause for the specified assessment year.
The Central Government notifies The Institute for Financial Management and Research, Madras as eligible for tax-exempt status under the charitable-education clause of clause (23C) for the specified assessment year, formally recognising its entitlement to the provision's benefits and recording the administrative reference number.

Tax exemption under section 10(23C)(iv) confirms Indian National Theatre's notification as eligible for specified assessment years.
Notification declares Indian National Theatre, Bombay recognised under the Income-tax Act provision for institutions in clause (23C)(iv) of section 10, with the Central Government specifying the temporal scope of its eligibility for the stated assessment years.

Notification under section 10(23C)(v) confirms tax-exempt recognition of Shri Krishna Janmasthan Seva Sansthan for the assessment year.
Notification under section 10(23C)(v) of the Income-tax Act notifies Shri Krishna Janmasthan Seva Sansthan as qualifying under that sub-clause for the specified assessment year, the Central Government exercising its powers to recognize the organisation for purposes of income-tax exemption.

Approval of research institution under section 35(1)(iii) imposes ongoing accounting and annual reporting obligations to tax authorities.
Approval under section 35(1)(iii) recognises the National Law School of India University as an Approved Institution for scientific research, requiring maintenance of a separate research account, annual research returns by 31st May, and submission of audited annual accounts and balance-sheet to the prescribed authority and tax offices by 30th June; renewal applications must be filed three months before expiry.

Tax exemption recognition secures notified status for a charitable institution for specified assessment years.
The Central Government, invoking the exemption provision in clause (23C) of section 10, notifies The Bombay Salesian Society, Bombay as eligible under sub-clause (v) for specified assessment years, recording the statutory basis and citing the official notification number and date as the instrument of recognition.

Notification of tax exemption under section 10(23C)(v) confirms charitable status of a temple for specified assessment years.
The Central Government has notified Arulthiru Devi Karumariamman Thirukkoil, Madras under section 10(23C)(v) of the Income tax Act, declaring the temple to fall within that provision for the specified assessment years and thereby recognizing its charitable/religious status for income tax purposes during that temporal scope.

Section 10(23C)(v) notification: Govind Bhawan Karyalaya notified for tax-exempt status by Central Government for specified years.
The Central Government, under sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961, notifies Govind Bhawan Karyalaya, Calcutta, for the purposes of that sub-clause for the assessment years 1988-89 and 1989-90, by Notification S.O.1421 dated 3-5-1989.

National Savings Certificates: issuance, transfer, nomination, six-year maturity with staged premature encashment and tax-on-accrual rules.
Rules establish issuance and ownership mechanics for National Savings Certificates (VIII Issue): permissible denominations and three certificate types; eligible purchasers and form-based purchase procedures; issuance dated to payment or realization of negotiable instruments; transfers and pledging require authorised Postmaster consent and prescribed endorsements; maturity is six years with annual interest accrual deemed reinvested to fifth year and specified discharge values; premature encashment allowed only on death, compliant pledgee forfeiture or court order with staged payment rules; nomination, duplicate issuance, conversion, fees and tax treatment on annual accruals are provided.

Section 269UB appointment: substitution of the Appropriate Authority entry in an existing income-tax notification.
Amendment under Section 269UB of the Income Tax Act substitutes, in the Table to Notification No. S.O. 684(E) dated 24th September, 1986, the item occurring against Serial No. 3 relating to "Appropriate Authority, Calcutta" by replacing item (i) with the named Commissioner of Income-tax, effected by Notification No. 0312(E) dated 28th April, 1989.

Section 10(23C)(v) notification conferring income tax exemption to Catholic Bishops' Conference of India for specified years.
Notification conferring income tax exemption under the Income tax Act on the Catholic Bishops' Conference of India, New Delhi, invoking sub clause (v) of clause (23C) of section 10, and recognizing the Conference for the assessment years 1985 86 to 1989 90.

Tax exemption recognition under section 10(23C)(iv) confirms charitable status for the notified association for specified assessment years.
Central Government, under section 10(23C)(iv) of the Income-tax Act, 1961, notifies National Association for the Blind, Bombay as recognised for the purposes of that sub clause for the specified assessment years, formally identifying the association as falling within the exemption provision for those years.

Notification under section 10(23C)(iv) accords notified tax-exempt status to a literary society for the relevant assessment year.
The Central Government, by Notification No. S.O.2021 dated 24-4-1989, notifies Bangiya Sahitya Parishad, Calcutta, under section 10(23C)(iv) of the Income-tax Act for the purpose of that sub-clause for the specified assessment year, exercising the statutory power to confer notified institutional status for tax treatment.

Tax exemption notification under section 10(23C)(iv) confirms charitable recognition for the organisation for the assessment year.
Central Government notification exercises the power under sub-clause (iv) of clause (23C) of section 10 of the Income tax Act to notify Vivekananda Rock Memorial and Vivekananda Kendra, Madras as recognised for the purposes of that tax exemption provision for the specified assessment year.