Approval under Section 10(23C)(vi) for an educational institution, subject to exclusive application of income and compliance conditions.
Approval is conferred on Little Flower Education Society as an educational institution subject to conditions: income must be applied or accumulated wholly and exclusively for educational purposes; activities must be confined to education; investments are limited to modes permitted for charitable funds (with certain exceptions for voluntary contributions in kind); business income is excluded unless incidental and separately accounted; regular income tax returns must be filed; on dissolution assets must vest in a similar charitable organisation; anonymous donations are excluded; approval remains in force until withdrawn.

Section 10(23C) approval conditions educational-only use, restricted investments, separate books for incidental business, and dissolution rules.
Approval under section 10(23C)(vi) grants the institution tax-exempt recognition from assessment year 2011-12 onwards subject to conditions: income must be applied exclusively to educational purposes; investments limited to legally permitted forms; business income excluded unless incidental with separate books; regular filing of returns; surplus assets on dissolution to transfer to a similar charitable organisation; anonymous donations excluded; and the notification remains in force until withdrawn.

Interest rate notification for Special Deposit Scheme affects deposits of non-government provident, superannuation and gratuity funds.
Deposits made under the Special Deposit Scheme for non-government provident, superannuation and gratuity funds shall, with effect from 1st December, 2011 and until further orders, bear interest at 8.6% per annum.

Approval under section 10(23C)(vi): trust must apply income exclusively to educational objects and meet specified compliance conditions.
Approval granted under section 10(23C)(vi) is conditional: activities must be genuine and confined to educational objects; income must be applied exclusively for those objects; capitation fees are prohibited; investments must be in permitted modes; business income is excluded unless incidental with separate accounts; anonymous donations are restricted; returns must be regularly filed; and surplus on dissolution must be transferred to a similar non-profit. Approval is limited to the specified exemption and may be withdrawn if procured by fraud or if conditions are breached.

Deduction under section 35AC: government notification approves eligible social welfare projects and specifies deductible project costs.
Government notification under Explanation (b) to section 35AC approves specified institutions and their named projects or schemes as eligible for deduction, sets the estimated project costs and specifies the maximum amount of such cost allowable as deduction for the period of approval, and records that the approval remains in force for three financial years commencing with 2012-13 for the listed projects.

Interest exemption on notified bonds: aligns QIB definition with SEBI and sets investor classification for retail versus high networth.
Amendment to the income-tax notification revises nomenclature to "Rural Electrification Corporation Limited" and substitutes the Explanation: Qualified Institutional Buyers adopt the meaning from the SEBI (Issue and Listing of Debt Securities) Regulations, 2008, and individual investors are classified into retail investor and High Networth Individual categories based on specified investment thresholds for applying the exemption for interest on notified bonds and debentures of public sector companies.

Exemption under section 10(46): Competition Commission's specified income exempt subject to unchanged activities and return filing.
The Central Government notifies the Competition Commission of India as a statutory body whose specified income-Government grants, fees under the Competition Act, and interest on those receipts-is exempt under clause (46) of section 10 for financial years 2011-12 to 2015-16, subject to the conditions that the activities and nature of the specified income remain unchanged throughout the year and that the Commission files its return in accordance with clause (g) of sub-section (4C) of section 139.

Tax exemption for National Skill Development Corporation: specified income exempt subject to unchanged activities and prescribed return filing.
The Central Government notifies the National Skill Development Corporation as a notified statutory body for tax exemption of specified income: capital gains from investments in skill development organisations; dividend and royalty from supported skill development ventures; interest on loans to institutions for skill development; interest on fixed deposits; and Government grants, applicable for financial years 2011-12 to 2015-16, subject to unchanged activities/income during the year and compliance with the prescribed return filing requirement.

Industrial park notification: tax deductions contingent on meeting unit, operation, approval and compliance conditions and transfer rules.
The Central Government notifies M/s. Prasad Technology Park Pvt. Ltd., Bangalore, as an industrial park for tax benefits under clause (iii) of sub-section (4) of section 80-IA, subject to annexed terms: specified location, area, NIC-coded activities, allocable area split, minimum three industrial units, investment particulars and commencement date. Tax incentives require statutory and foreign investment approvals, attainment of the minimum units, continuous operation by the developer, and adherence to project plans; misinformation, duplicate approvals, unauthorized amendments, or missed commencement timelines invalidate approval and may prompt withdrawal or fresh approval requirements.

Exemption from filing returns for certain salaried individuals where tax is fully discharged by employer withholding.
Exemption from furnishing a return applies to individuals with only Salaries and limited Interest from Savings where the individual has reported PAN to the employer, declared the interest income, obtained Form 16 showing income and tax deducted, had the employer deduct and deposit the total tax liability by way of tax deducted at source, has no refund claim, and received salary from only one employer; the exemption is not available where a statutory notice for filing a return has been issued and takes effect from publication in the Official Gazette.

Double taxation agreement with Tanzania clarifies residence, permanent establishment, withholding limits and mutual relief mechanisms.
Notification under section 90 gives effect in India to the Agreement between India and Tanzania for the avoidance of double taxation and prevention of fiscal evasion, applying to residents of one or both States and to taxes on income; it defines resident and tie breakers, establishes a permanent establishment rule with time thresholds, prescribes source rules for immovable property, business profits attribution, withholding limits for dividends, interest and royalties, capital gains allocation, methods for elimination of double taxation by tax credit/deduction, non discrimination, mutual agreement and exchange of information, assistance in collection, limitation of benefits, and entry into force and termination procedures.

Tax-free bond conditions: mandatory PAN, ten- or fifteen-year tenures, interest linked below government yields, capped commissions.
Authorisation permits Rural Electrification Corporation Limited to issue tax free, secured, redeemable, non convertible bonds by public issue in financial year 2011 12 subject to tenure limits of ten or fifteen years, mandatory PAN for subscribers, interest at least fifty basis points below equivalent Government Security yields with up to twenty basis points extra for retail investors (non transferable except to legal heirs), capped commission and issuance expenses, mandatory registration of holders with the issuer, and public issue requirement; definitions set QIB and retail/HNI thresholds.

Interest exemption on notified bonds: notification substitutes Indian Railway Finance Corporation Ltd. entry with a specified aggregate bond cap.
The Central Government amended the earlier notification under the Income-tax Act to replace the Table entry at serial number 2, identifying Indian Railway Finance Corporation Ltd. and specifying the aggregate amount of bonds admissible for the interest exemption under Section 10(15)(h)(iv), via Notification No. 6/2012 dated 14-2-2012.

Income Tax Appellate Tribunal rules require revised Form 36 for address changes and broaden registrar and representation rules.
Amendments revise definitions to include Central Board appointed authorised representatives and Chief Commissioner authorised persons; expand Registrar powers to receive appeals, miscellaneous applications and stay petitions; require filing of a revised Form No. 36 for address changes with appeal identification for service; substitute "Assessing Officer" for "Income Tax Officer" and "CIT(Appeals)" for "Appellate Assistant Commissioner"; provide that appeals do not abate on death, insolvency or winding up if a revised Form No. 36 is filed; and require triplicate filing and disclosure of prior miscellaneous applications.

Annual statement filing for liaison offices mandates electronic submission with digital signature and Chartered Accountant verification.
Rule 114DA requires non-residents with Liaison Offices to furnish an annual statement under section 285 in Form No. 49C, to be submitted electronically with a digital signature and verified by a Chartered Accountant or an Authorised Signatory. The Director General of Income tax (Systems) will specify filing procedures and ensure appropriate security, archival and retrieval policies. Form No. 49C prescribes identification, registration and approval details, India specific financial and operational disclosures, counterparties and group entity information, employee particulars, and a verification clause.

Authorisation to receive subscriptions under PPF and Senior Citizens Savings Scheme extended to Central Bank branches, subject to remittance conditions.
One hundred and eleven branches of the Central Bank of India are authorised, with immediate effect, to receive subscriptions under the Public Provident Fund Scheme, 1968 and the Senior Citizens Savings Scheme Rules, 2004, subject to remittance of all receipts to the Government Account at RBI, CAS, Nagpur within three days. Delayed remittances attract a penalty equal to the depositor interest rate plus 0.5% for delays up to thirty days and plus 1% beyond thirty days. Non-observance of scheme rules may result in de-authorisation and pecuniary liabilities borne by the bank.

Double taxation avoidance: treaty rules on residence, permanent establishment and withholding govern cross border income allocation.
Bilateral tax treaty between India and Georgia sets rules for residence, scope of taxes on income and capital, and permanent establishment criteria (including a 90 day construction/service rule). It allocates business profits to the residence State unless attributable to a PE, prescribes withholding limits for dividends, interest, royalties and technical fees with specified exemptions, provides methods for elimination of double taxation, and includes mutual agreement, exchange of information, non discrimination, limitation of benefits and tax collection assistance provisions; effective in India from 1 April 2012.

Centralised Processing of Returns mandates electronic filing, ITR V procedures, electronic intimations and rectification by upload.
Notification prescribes modifications to the Income-tax Act to implement the Centralised Processing of Returns Scheme by making electronic transmission and processing the operative mechanism, treating electronic transmission date as the date of furnishing where Form ITR-V is timely submitted, allowing rejection of non compliant ITR Vs, requiring electronic filing of revised returns, enabling electronic service and processing of defective returns and rectification applications, determining liabilities after automated credit of TDS/TCS and validated tax payments, issuing electronic intimations that may operate as notices of demand, and conferring procedural rule making powers on the Director General.

Centralised processing of returns streamlines e-filing, auto-validates TDS/TCS credits and issues electronic intimations and rectifications.
The scheme creates a Centralised Processing Centre to handle electronically filed returns and specified paper returns, mandates electronic acknowledgments (including Form ITR-V when unsigned), sets submission timelines and validity conditions, authorises automatic validation of TDS/TCS and challan credits, generates electronic intimations that operate as notices of demand, restricts personal appearances, requires electronic communication and evidence, provides for electronic rectification and revised returns, and empowers the Director General and Commissioner to specify procedures and condone delays.

Notification of affordable housing projects enables specified business tax deduction subject to prescribed eligibility, compliance and reporting.
Rule 11 OA prescribes the procedure and form (Form No. 3CN) for notification of an affordable housing project as a specified business for entitlement to the tax deduction: application to the Board, deficiency procedure and cure period, powers to seek documents, requirement of hearing before invalidation/rejection/withdrawal, communication of orders, and Board's power to publish or withdraw notification. It sets cumulative eligibility conditions on sanction, commencement, plot size, unit type area percentages, layout approval and project completion timeframe; requires separate project accounts and timely returns; and defines unit categories, rentable area measurement and specified cities.