Section 35AC exemption extended for equipment and furnishing of specified eye hospital, eligible for further three assessment years.
The Central Government, under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, specifies the equipment and furnishing project of Dr. S. R. K. Malik Memorial Eye Hospital of MMR Research and Eye Care Foundation as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000, following a recommendation by the National Committee that execution was satisfactory and an earlier specification for an initial three-year period.

Tax exemption under section 35AC extended for Ankleshwar rural development project, allowing continued eligible deductions.
Central Government specified the development and extension of educational, medical and sports facilities in 50 villages around Ankleshwar as an eligible project under section 35AC, extending its eligibility for a further period of two assessment years commencing from the assessment year 1999-2000, and identifying the project scope and estimated cost.

Tax exemption under section 35AC extended for a charitable project running a girls' home, school, training and clinic.
The Central Government specified that the project of construction, furnishing, supply of equipment/materials and running of a girls' home with a primary school, vocational training centre and health clinic at Kora Chandigarh by Pranab Kanya Sangha qualifies as an eligible project under section 35AC; following a National Committee recommendation, the Government extended specification of the project for a further three assessment years commencing from the stated assessment year.

Exemption under section 35AC: eligibility for construction of Kai Mohan Thuse Netra Rugnalaya extended for a further assessment period.
The Central Government specifies that the construction of Kai Mohan Thuse Netra Rugnalaya at Narayangaon, Pune, qualifies as an eligible project under section 35AC. Following a recommendation by the National Committee under sub rule (5) of rule 11M that the project is being executed properly, the Government, under sub section (1) read with the Explanation to section 35AC, specifies the project for a further three assessment years commencing from the assessment year 1999 2000, and records the estimated project cost.

Exemption under section 35AC: Residential training centre project specified eligible for three further assessment years.
The Central Government specifies the Sahyog Kushthayagna Trust project for equipping, furnishing and running a Residential Training Centre for mentally retarded persons in Sabarkantha, Gujarat as an eligible scheme at an increased estimated cost of thirty five lakhs seventy thousand and extends its eligibility for a further three assessment years commencing with assessment year 1999 2000, following the National Committee's recommendation that the project is being executed properly.

Exemption under section 35AC: free medical aid project's specification extended with enhanced approved cost and continued eligibility.
The Central Government, under section 35AC, specifies Kailash Charitable Trust's free medical aid services at NOIDA as an eligible project or scheme for exemption, extending its specification for three further assessment years from 1999-2000 following the National Committee's recommendation and approving an enhanced estimated project cost of seventy-five lakhs.

Exemption under Section 35AC extended for construction of sports facilities, eligible for tax benefit for three assessment years.
The Central Government specified the construction of a multi-purpose gymnasium hall and other sports facilities at Narayangaon as an eligible project under Section 35AC, extending the specification for a further three assessment years commencing from the assessment year 1998-99 at an estimated cost of forty lakhs.

Exemption under section 35AC extended for construction of Bhagwan Mahaveer Cancer Hospital phase I for further assessment years.
The Central Government specifies the Construction of Phase I of Bhagwan Mahaveer Cancer Hospital and Research Centre, Jaipur, as an eligible project for tax exemption and, following the National Committee's recommendation, extends that eligibility for a further period of two assessment years commencing from the assessment year 1999 2000 at an estimated project cost of rupees thirteen crore eighty lakhs.

Notification correction: corrigendum changes cited year in Gazette reference, replacing the earlier erroneous year with the correct one.
Corrigendum corrects a citation error in Notification No. S.O. 34(E) dated 12 February 1998 by directing that the year reference in line 24 of the cited 229 ITR (St.) be read as 1997 instead of 1989, formalised by Notification No. S.O. 201(E) dated 12 March 1998.

Exemption under section 35AC extended: construction of Maharaja Agrasen Hospital specified as eligible for a further three assessment years.
Pursuant to statutory authority and a recommendation from the National Committee that the project is being properly executed, the Central Government specifies the construction of Maharaja Agrasen Hospital at Agroha by Maharaja Agrasen Medical Education and Scientific Research Society, New Delhi, at the revised estimated cost as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.

Tax exemption under section 35AC extended to community care and research centre, eligibility renewed with increased approved cost.
The Central Government has re specified the construction of a community care and research centre at Miraj by Sanjeevan Medical Foundation as an eligible project for tax deduction purposes, following the National Committee's recommendation to extend eligibility for three assessment years and to enhance the approved project cost to seven hundred lakhs, with the renewed specification commencing from the assessment year 1999 2000.

Exemption under section 35AC: approved charitable projects qualify for capped tax deduction under notified limits.
Exemption under section 35AC approves specified charitable institutions and their named projects as eligible for deduction, prescribing for each the eligible activity (construction, equipment, running services), estimated project cost and the maximum cost amount allowable as a deduction, sometimes with an additional specified corpus fund component; the approval is time-limited to a defined three-year assessment window and issued on recommendation of the National Committee.

Exemption under section 10(6C): fees for technical services under government agreement excluded from taxable income for notified foreign companies
Declaration under section 10(6C) that fees for technical services received by Redecon Australia Private Limited and NEDECO under the agreement dated February 27, 1997 with the Government of India for services in or outside India in projects connected with the security of India shall not be taken into consideration for computing the total income of those foreign companies.

Income tax exemption under section 10(23) conditioned on exclusive application of income and permitted investment modes.
The Central Government notifies The U.P. Cricket Association, Kanpur for income tax exemption under clause (23) of section 10 subject to conditions: income must be applied or accumulated exclusively for the association's objects in line with section 11 rules; funds and accumulations must be invested only in modes permitted by section 11(5) or Board notifications; income may not be distributed to members except as grants to affiliated bodies; and business profits are excluded unless incidental and maintained in separate books.

PAN application requirement: persons meeting income, turnover, or filing thresholds must apply under new PAN series by prescribed dates.
Application for allotment of a Permanent Account Number is required under section 139A(4) for persons assessable by an Assessing Officer who (i) had total income above the non-taxable limit, (ii) carry on business or profession with sales, turnover or gross receipts likely to exceed the prescribed threshold, (iii) are required to furnish a return under section 139(4A), or (iv) hold a PAN under a different series; such persons must apply to the Assessing Officer for allotment under the new series within prescribed deadlines, with exemptions for those already applied or already allotted under the new series.

Exemption under section 35AC extended for the specified hospital construction and operation project for three further assessment years.
Relying on the National Committee's recommendation and powers under the Explanation to section 35AC and Income-tax Rules, the Central Government specified the construction, furnishing, equipment and running of the hospital at Crozaria by Smt. Samarthben Chunilal and Sheth Dosabhai Madhavji Sarvajanik Trust as an eligible project or scheme for a further three assessment years commencing from the assessment year 2000-2001, at the estimated cost stated in the notification.

Specification of secured redeemable taxable bonds under section 80L enables bonds to be recognised under the tax provision.
Central Government specifies the 15-75 per cent. (Taxable) Secured Redeemable Non Convertible POWER GRID Bonds (V Issue) as eligible under clause (ii) of Section 80L of the Income tax Act, identifying the bonds by distinctive numbers E 0000001 to E 2000000 issued by the Power Grid Corporation of India Ltd., and treating the aggregate issue amount as falling within the scope of that clause for tax purposes.

Specified securities under section 54EB designate Alpic Finance bonds with transfer restrictions affecting investment eligibility under the provision.
The Central Board of Direct Taxes designates bonds issued by Alpic Finance Limited as specified securities for the purposes of section 54EB, subject to an aggregate issue cap and the condition that bonds be issued and allotted to the assessee within one year of the notification; such bonds are not transferable for three years from allotment, and those issuance and transfer conditions determine qualification as specified securities under the section.

Specified securities under section 54EB: Alpic Finance bonds designated, non-transferable for seven years and must be allotted within one year.
Bonds issued by the specified public company are designated as specified securities for section 54EB purposes, subject to an aggregate amount ceiling, a mandatory non-transferability period from allotment, and the requirement that bonds be issued and allotted to the assessee within a prescribed time window from the date of the notification.

Conservation programme approval under section 35CCB granted with annual reporting and separate donation accounts requirement.
Approval to Gujarat Ecological Education and Research Foundation (GEER) for specified conservation programmes under section 35CCB is valid from April 1, 1997 to March 31, 2000, subject to conditions: maintenance of a separate donations account for conservation activities, annual progress reports to the prescribed authority by June 30, submission of annual accounts showing income and liabilities (with copies to the Commissioner of Income tax) by June 30, and continued satisfaction of the prescribed authority allowing retrospective withdrawal of approval if necessary.