Expenditure allocation for income not includible in total income: prescribes apportionment method for direct costs, interest and investment-related charges.
Where the Assessing Officer is not satisfied with the assessee's claim regarding expenditure related to income not includible in total income, rule 8D prescribes that such expenditure be the aggregate of: directly attributable expenditure; an apportioned share of interest computed by the formula AxB/C (A = non-attributable interest; B = average value of investments yielding non-includible income; C = average total assets); and an amount equal to one-half per cent of the average value of those investments, with "total assets" excluding revaluation increases but including revaluation decreases.

Research approval under tax law permits deductions for payments to approved institutes subject to audit and compliance conditions.
Approval is granted to Gujarat Institute of Development Research as an approved institution for research expenditure permitting payments to qualify for tax treatment where sums are utilised for social science or statistical research by faculty or enrolled students, subject to maintenance of separate books for research receipts, audit by a qualified accountant with timely submission of the audit report, and a separate auditor certified statement of donations and amounts applied for research; approval may be withdrawn for failures in accounts, audit, reporting, cessation of genuine research or non compliance with statutory conditions.

Approval as scientific research association permits tax treatment subject to research only purpose, audit and reporting conditions.
Approval is granted to Sir Hurkisondas Nurrotumdas Medical Research Society as a scientific research association for tax purposes, subject to maintaining books of account, obtaining an annual audit by a qualified accountant and furnishing the audit report by the due date, and maintaining an auditor certified statement of donations received and amounts applied to scientific research to be attached to the audit report; approval may be withdrawn for failure to comply, cessation of genuine research, or other breaches of the approval conditions.

Approval under Section 35(1)(ii) conditions donations for research, requiring separate audited accounts and risking withdrawal for noncompliance.
Scitech Centre, Mumbai is approved as an 'other Institution' partly engaged in research effective 1 April 2001, subject to conditions that donations be used for scientific research; research is conducted by faculty or enrolled students; separate research books are maintained and audited with the audit report filed by the return due date; and a certified statement of donations and applications for research accompany the audit report. Approval may be withdrawn for failures in recordkeeping, audit or disclosure, for absence of genuine research activity, or for nonconformance with the statutory and regulatory conditions.

Tax approval for research donations permits donor benefits where the institution complies with research, accounting, audit and reporting requirements.
Approval is granted to Dr. Prasanta Banerji Homeopathic Research Foundation as an approved institution eligible for donor tax benefits for sums used for scientific research, subject to conditions: research must be carried out by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited by a qualified accountant; the audit report must be furnished to tax authorities by the return due date; and a certified statement of donations and amounts applied to research must accompany the audit. Approval may be withdrawn for noncompliance or cessation of genuine research activity.

Research approval for university status allows tax-recognition of donations subject to audit and reporting compliance.
Approval is granted to Sri Venkateswara Institute of Medical Sciences as a University partly engaged in research for purposes of Section 35(1)(ii), subject to conditions: sums received must be used for scientific research conducted by faculty or enrolled students; separate books of account and a separate statement of donations and research expenditure must be maintained; these records must be audited by a qualified accountant and the audit report and certified statement furnished to the tax authorities by the due date for filing the income-tax return.

Approval under Section 35(1)(ii) ensures tax recognition for research bodies subject to strict utilization, accounting and audit conditions.
Approval under Section 35(1)(ii) was granted to Vivekananda Yoga Anusandhana Samsthana effective 1 April 2004 as an 'other Institution' partly engaged in scientific research, subject to utilization of donations for research, conducting research through faculty or enrolled students, maintaining separate books of account for research receipts and expenditures, obtaining an audit by a qualified accountant and furnishing the audit report and an auditor-certified statement of donations and applications to the tax authority by the return filing due date.

Scientific research association approval requires dedicated research, audited accounts, and certified donation reporting for tax recognition.
Approval is granted to Amala Cancer Research Centre as a scientific research association subject to conditions: the sole objective must be scientific research conducted by the organization itself; it must maintain books of account, obtain an audit by an authorized accountant and furnish the audit report by the return due date; and it must maintain a separate auditor certified statement of donations received and amounts applied for scientific research. The Central Government may withdraw approval for failures to comply with these conditions or if research activity is not genuine.

Approval under section 35(1)(ii) permits research donations subject to separate accounts, audited reports, and certified donation statements.
Approval under Sec. 35(1)(ii) recognizes the organization as an 'other Institution' partly engaged in scientific research, conditioned on utilization of sums for research, conducting research via faculty or enrolled students, maintaining separate books for research receipts and expenditures, obtaining an audit by a qualified accountant and furnishing the audit report by the return due date, and providing a separately certified statement of donations and amounts applied to scientific research.

Approval under Section 35(1)(ii) grants research-institution status subject to audit, reporting and bona fide research conditions.
National Institute of Advanced Studies, Bangalore is approved as an other institution partly engaged in scientific research for purposes of section 35(1)(ii), effective 1-4-2007, subject to conditions: sums must be used for scientific research; research carried out by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited by a qualified accountant with the audit report furnished to tax authorities by the return due date; and a separate auditor-certified statement of donations received and amounts applied for research must be maintained and furnished. Approval may be withdrawn for noncompliance or cessation of genuine research.

Research institution approval for tax exemption - conditional recognition subject to audit, separate accounts, and genuine research.
Approval is granted to Herbicure Healthcare Bio-Herbal Research Foundation as an 'other Institution' partly engaged in scientific research under the cited tax provisions, subject to conditions: use of sums for scientific research; research performed by faculty or enrolled students; maintenance of separate books of account for research receipts and expenditures; submission of an auditor-signed audit report and a certified statement of donations and amounts applied for research by the income-tax return due date. The Central Government may withdraw approval for failures in accounting, reporting, genuine research activity, or noncompliance with the governing provisions.

Electronic payment requirement: companies and audit-assessed persons must remit tax via internet banking or card payments.
Companies and persons subject to audit provisions must pay tax electronically, meaning via the authority bank's internet banking facility or by credit or debit cards; the term tax includes interest and penalty, aligning with the Act's definition.

Change of office designation: Commissioner of Income-tax (CIB) replaced by Director of Income-tax (CIB), effective on publication.
Substitution of the designation Commissioner of Income-tax (CIB) with Director of Income-tax (CIB) in S.O. 734(E) and S.O. 883(E) is effected by the Central Board of Direct Taxes under its delegated powers; the amendment takes effect from the date of publication in the official gazette.

Approval under Section 35(1)(ii) conditions research donations on separate audited accounts and certified donation statements.
Approval is granted to Shriram Scientific and Industrial Research Foundation as an 'other institution' under the relevant tax provision, subject to conditions: sums must be used for scientific research conducted by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited by a defined accountant; the audit report must be furnished to the tax authorities by the return due date; and a certified statement of donations and amounts applied to research must accompany the audit report. Approval may be withdrawn for failures to comply with these requirements or if research activities cease or are not genuine.

Approval under Section 35(1) tax provision requires research use of donations, separate audited accounts, and certified donation statements.
Approval is granted to the Society for Welfare of the Handicapped Persons, Durgapur, as an other institution eligible for Section 35(1) benefits from 1-4-2007, subject to conditions: sums must be used for scientific research conducted by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited by a qualified accountant with the audit report furnished to the tax authority by the return due date; and a certified statement of donations and amounts applied for research must accompany the audit report. Approval may be withdrawn for specified non compliance or cessation of genuine research.

Manufacture or production of seeds notified as an article or thing under section 35(2AB), effective April 1, 2009.
Notification declares the manufacture or production of seeds to be an article or thing for the purposes of clause (1) of sub section (2AB) of section 35 of the Income tax Act; it takes effect from 1 April 2009 and applies for the assessment year 2009 10 and subsequent assessment years.

Notification of manufacture of agricultural implements under section 35(2AB) designates them as 'article or thing' for tax purpose.
Notification designates manufacture or production of agricultural implements as an article or thing under clause (1) of sub section (2AB) of section 35 of the Income tax Act, thereby classifying that activity for the provision's statutory treatment; the notification is made by the Central Board under its statutory power and is effective from the first day of April for application to the following assessment years.

Specified scheme under Section 115AC: tax treatment for Issue of Foreign Currency Exchangeable Bonds applies from assessment year 2008-09.
The Central Government, under Section 115AC of the Income-tax Act, specifies the Issue of Foreign Currency Exchangeable Bonds Scheme, 2008 as a Scheme for tax purposes, applying the specification to assessment year 2008-2009 and subsequent assessment years and thereby bringing issuance of such bonds within the tax framework prescribed by the section.

Jurisdiction of income-tax authorities revised to reassign commissionerates and omit a prior entry, effective on publication.
Amendment under section 120 revises Schedule-I of Notification S.O. 733(E) by substituting the entries for Chief Commissioner of Income-tax, Kolkata-II and Chief Commissioner of Income-tax, Kolkata-IV to specify the Commissioners under their jurisdiction and by omitting a previously listed serial entry; the changes come into force upon publication in the Official Gazette.

Research tax deduction approval requires compliance with research-use, audit, and donation-reporting obligations or face withdrawal.
Approval is granted to Birla Research Institute for Applied Sciences, Nagda as an eligible institution for research tax treatment effective 1-4-2001, subject to conditions: sums must be used for scientific research; research must be conducted by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited with the audit report furnished to the tax authority by the income tax return due date; a certified statement of donations received and amounts applied to research must accompany the audit report. Approval may be withdrawn for failures to maintain books, furnish audit report or statement, to carry on genuine research, or to comply with the approval conditions.