Safe harbour rules permit specified transfer pricing margins and rates to be accepted for qualifying cross-border transactions.
The rules introduce Safe Harbour provisions under section 92CB, defining eligible assessees and eligible international transactions (services, intra-group loans, corporate guarantees, contract R&D, and auto component exports), prescribing objective transfer pricing parameters (minimum operating profit margins, interest rate margins, and guarantee fees) that, if met and validly opted into via Form 3CEFA, will be accepted by tax authorities for the initial and four subsequent assessment years subject to procedural verification, exclusions for certain jurisdictions, and preservation of other documentation obligations.

Assessing Officer jurisdiction authorised to exercise powers for commodities transaction tax under Finance Act framework.
The notification authorises the Assessing Officer who has jurisdiction over an assessee under the Income-tax Act to exercise and perform the powers and functions conferred on an Assessing Officer for the purposes of Chapter VII of the Finance Act, 2013 relating to commodities transaction tax, thereby aligning jurisdictional competence and procedural enforcement for that tax with existing Income-tax Act assessing officer assignments.

Territorial jurisdiction reallocation establishes Directors of Income-tax (Intelligence) with authority to collect, verify and disseminate tax information regionally.
This notification amends Schedule-2 to designate Directors of Income-tax (Intelligence) at Guwahati, Pune, Bengaluru, Hyderabad and Kochi, specifying each Directorate's headquarters and territorial area. Each Directorate is vested with all powers conferred under the Income-tax Act, 1961 related to the collection, collation, verification and dissemination of information within its specified territorial area.

TDS jurisdiction allocation in Delhi splits taxpayers by name initials, assigning tax deduction powers with specified exclusions.
The notification amends the Schedule to allocate TDS jurisdiction in the National Capital Territory of Delhi between two Commissioners by alphabetic division of taxpayers' name initials. Each Commissioner is empowered to exercise functions relating to tax deduction and collection under Chapter XVII, along with related powers under companion chapters, over specified classes of persons (non-company residents, business principals, registered companies and other persons) within the territorial area, subject to exclusions where responsibilities lie with the Director of Income Tax (International Taxation). A Note instructs ignoring honorific prefixes and prescribes alphabet determination for government entities.

Tax exemption for regulatory commission income: petition fees and investment interest exempt subject to non commercial activity and compliance.
Notification grants tax exemption to the Rajasthan Electricity Regulatory Commission for amounts received as petition filing fees and interest earned on investment, effective for the notified financial years, subject to: the Commission not engaging in commercial activity; the activities and nature of the specified income remaining unchanged during the financial year; and filing return of income in accordance with the specified provision of the Income Tax Act.

ITR-V submission requirement: mail the physical ITR-V by the extended deadline or the return will not be processed.
Taxpayers who electronically filed returns without a digital signature must mail the physical ITR-V by the extended deadline to the Centralized Processing Center at the designated postal address; those who filed ITR-Vs with local offices or who earlier mailed forms but did not receive an acknowledgement must re-mail to that address. Only ordinary post or speed post to the stated address will be accepted, and returns or refunds will not be processed without the processing centre's acknowledgement of the ITR-V.

Cadre restructuring requires updating APARs and routing completion confirmation through the Core Committee to enable promotions.
All concerned are instructed to update and finalise ACRs/APARs for officers and officials through the end of the relevant fiscal year specified, and to communicate confirmation that APARs have been updated up to that cut off to the Chairperson by the prescribed date. That confirmation must be routed through the Region's Core Committee to enable promotions and manpower deployment under the cadre restructuring exercise.

Securitisation trust reporting: file a prescribed verified statement of distributed income with the tax assessing authority.
A securitisation trust must furnish a statement of income distributed in the prescribed Form No.63AA to the Assessing Officer having jurisdiction over the trust's principal office. Form No.63AA requires trust identification, regulatory registration status, income from securitisation activities, amounts distributed, a detailed schedule of distributions (date, amount, investor categories), tax and interest payable and proof of payment, and must be verified by an accountant. Audited accounts and supporting documents must be enclosed, and the term "accountant" is as defined in the Act's procedural provision.

Payments to non-residents require electronic Form 15CA filing and, for larger sums, Form 15CB or an AO certificate before remittance.
Rule 37BB requires persons making payments to non-resident individuals or foreign companies to furnish Part A of Form 15CA for small payments and Part B with Form 15CB or an Assessing Officer's certificate/order for larger payments; Form 15CA must be filed electronically and a signed printout submitted to the authorised dealer prior to remittance, with the Director General of Income-tax (Systems) responsible for procedures and a specified list of exempted remittance purposes.

Specified income exemption for grants in aid to Karnataka State AIDS Prevention Society subject to operational and filing conditions.
Notification designates grants in aid from the Government of India and the State Government to the Karnataka State AIDS Prevention Society as specified income for exemption, subject to conditions: no commercial activity, unchanged activities and income character during the financial year, and filing of return of income as required; grants to be received and applied under prevailing rules.

Research exemption under section 35(1)(ii) approved, subject to conditions on utilization, audit, reporting and compliance.
Approval is granted to The Indian Institute of Technology, Gandhi Nagar as an approved institution for scientific research under clause (ii) of sub-section (1) of section 35 of the Income-tax Act from 1-4-2012, subject to conditions requiring utilization of sums for scientific 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 a certified departmental statement of donations and applications to the tax authorities by the return due date.

Tax Administration Reform Commission constituted to review tax governance and recommend structural, procedural and compliance reforms.
Constitution of a Tax Administration Reform Commission as an advisory body with a fixed eighteen month tenure, specified membership and Secretariat, tasked to review and recommend reforms in organizational structure, human resources, ICT and business processes, dispute resolution, taxpayer services, compliance enforcement, capacity building, inter agency data sharing, revenue forecasting and predictive analysis, and to provide periodic recommendations to enhance tax governance and administration.

Tax notification: foreign oil company recognised; permitted income restricted to receipts under the specified India-Iran MOU.
The Central Government notifies the National Iranian Oil Company as the foreign company covered under the specified tax provision and identifies the India-Iran Memorandum of Understanding of 20 January 2013 as the governing agreement, subject to the condition that the company shall not engage in any activity in India other than receipt of income under that agreement, effective from 20 January 2013.

Premature encashment effective dates revised: eligible investors permitted semiannual encashment in August and February each year.
Amendment clarifies the effective date for premature encashment for eligible investors under the Income Tax notification dated July 29, 2013: the effective dates shall be 1st August and 1st February every year, and all other terms and conditions of the earlier notification remain unchanged.

Exchange of information expanded: mutual tax information sharing and on site cooperation authorized under India Sweden amending protocol.
Article 27 now mandates that competent authorities exchange foreseeably relevant information for administering or enforcing the Convention and domestic tax laws, subject to confidentiality, limited disclosure and use solely for specified tax-related purposes unless both States' laws and the supplying authority permit other uses. The Article prohibits withholding information solely on the ground that it is held by banks or fiduciaries, requires requested States to use their information gathering measures even absent domestic interest, and preserves limitations preventing measures contrary to domestic law or public policy.

Scientific Research Association approval requires dedicated research, segregated accounts, audited returns and donation statements to retain tax exemption.
Approval of C-DOT as a Scientific Research Association is effective from 1-4-2002, conditional on having the sole objective of undertaking scientific research, carrying out research itself, maintaining separate books of account for research receipts and applications, obtaining an audit of those books by a qualified accountant and furnishing the audit report by the income-tax return due date, and maintaining a certified statement of donations received and amounts applied for research; approval may be withdrawn for failure to comply or if research ceases or is not genuine.

Tax-free bonds: capped coupon rates and structured issuance rules govern investor eligibility and placement procedures.
Specified public sector and infrastructure entities are authorised to issue tax-free, secured, redeemable, non-convertible bonds during 2013-14 subject to aggregate limits. Bonds may have ten, fifteen or twenty year tenures; subscribers must furnish PAN. Coupon rates are capped using a FIMMDA-based reference G-sec yield with differential spreads for Retail Individual Investors and rating-based adjustments for AA+ and AA/AA- issuers; semi-annual payment reduces rates. Public issue and private placement procedures, issue expense caps, post-issue financing plan submission to the Ministry of Finance, competitive selection of merchant bankers and compliance with Companies Act and SEBI debt regulations are mandated.

Income-tax exemption under section 10(23C)(vi) approved for Chinar Education Foundation, subject to compliance with rule 2CA.
Approval was granted to Chinar Education Foundation for entitlement to an income tax exemption under clause (23C)(vi) of section 10, subject to continued conformity with the statutory requirements and the procedural rule governing recognition, and applicable for the stated assessment year and thereafter.

Approval under section-based income-tax exemption permits recognition of Shri Ram Education Society, subject to ongoing statutory compliance.
Approval is granted to Shri Ram Education Society for recognition under the income-tax exemption provision for educational institutions, effective from the assessment year noted in the notification, on the condition that the society conforms to and complies with the substantive and procedural requirements of the relevant exemption clause read with the applicable rules; the approval is issued by the Chief Commissioner of Income-tax, Jaipur and identified by the authority's reference number.

Tax exemption for approved research institutions requires dedicated research use, audited accounts, and certified donation statements.
Approval under section 35(1)(ii) is granted to NIMHANS as a 'University, College or Other Institution' subject to conditions: sums paid must be used for scientific research conducted by faculty or enrolled students; separate books of account for research receipts and expenditure must be maintained and audited by a qualified accountant with the audit report furnished to the tax authority by the income tax return due date; and a departmental, auditor certified statement of donations received and amounts applied to research must accompany the audit report. Approval may be withdrawn for failures in recordkeeping, reporting, genuine research activity, or compliance with the section and rules.