Exemption under section 35AC extended for charitable ambulance and welfare project and project cost ceiling amended.
Notification extends the qualifying charitable project for purchase of ambulances, medical instruments and welfare activities by Shree Baldevdas Charitable Trust for three more years beginning with financial year 2007 2008 and amends the previously notified maximum project cost ceiling upward while specifying an accompanying corpus fund, following a recommendation of the National Committee for the Promotion of Social and Economic Welfare and exercising powers under the Income-tax Act.

Exemption under section 35AC: extension of eligibility for Amar Jyoti Charitable Trust's disability rehabilitation project for three years.
The Central Government notifies expansion of Amar Jyoti Charitable Trust's scheme covering construction, library books, equipment, mobile aids, learning materials, furnishing and rehabilitation activities for persons with disability as an eligible project for a further three years beginning with financial year 2007-2008, following a recommendation by the National Committee and without change in the approved project cost.

Exemption under section 35AC: eligibility for hospital expansion project extended for additional financial years by governmental notification.
The Central Government notified continuation of the project "Expansion of Mahatma Gandhi Hospital" by India Education Trust as an eligible project under the Exemption provision of the Income-tax Act, extending its eligibility beginning with the financial year 2007-2008 after a National Committee recommendation; the notification preserves the approved project cost of Rs. 1500 lakh and confirms no change to that approved cost.

Tax exemption extended for medical centre project, allowing continued eligible project status by foundation under law
Notification re notifies the project "Construction, equipments, furnishing and running of Smt. Lakshmi Shah Rural Medical and Research Centre" by Smt. Lakshmi and Shri Jankilal Shah Foundation as an eligible project or scheme under section 35AC for a further period of three years beginning with financial year 2007 2008, without any change in the approved cost of Rs. Two crore, pursuant to a recommendation by the National Committee for Promotion of Social and Economic Welfare under rule 11M.

Exemption under section 35AC extended eligibility and amended project cost for a charitable eye hospital project.
The Central Government, under the Explanation to section 35AC, notified continuation of the Sri Sankara Deva Nethralya Phase I Expansion Project as an eligible scheme for three more years beginning with financial year 2007 2008, following a recommendation by the National Committee that the project is being executed properly; the notification also amends the original notification to increase the maximum sanctioned project cost in the eligibility table.

Exemption under section 35AC extended for specified vocational training scheme; certificate not issued for elapsed financial year
The Central Government, under the income tax exemption provision corresponding to section 35AC, notifies extension of eligibility for the project "Running of Vocational Training Centre for economically weaker section of society" by Chittarnajan Seva Pratisthan for a further three-year period beginning with the financial year 2006-2007, with the approved project cost and corpus fund unchanged. Because that financial year has already elapsed, no certificate for exemption of donations under the provision shall be issued for that year.

Exemption under section 35AC: eligibility of Navjyoti Centre project extended for a further period under notified scheme.
The Central Government has notified the "Construction, equipment, furnishing of Navjyoti Centre for mentally handicapped" by AAROH as an eligible project under section 35AC, extending its eligibility for a further three-year period on the recommendation of the National Committee for Promotion of Social and Economic Welfare, without any change in the previously approved project cost and corpus fund.

Section 35AC deduction eligibility: specified institutions and approved social projects listed with capped deductible project costs.
The Central Government, under section 35AC, notifies specific institutions and approves named projects or schemes-including health, education, rehabilitation, sanitation and allied community initiatives-pairing each with an estimated cost and a maximum cumulative amount eligible as a deduction over the stated approval period; some entries specify corpus funds and distinguish recurring and non recurring expenses, and certain cost figures have been later substituted by subsequent notifications.

Basmati rice export certification: Free exports allowed, Russia-bound shipments require pre shipment quality certification.
The amendment substitutes the ITC(HS) Schedule 2 entry for basmati rice under HS code 10063020, prescribing its description and kilogram unit; export policy is Free, but exports to the Russian Federation are permitted only upon production of a pre shipment quality certification issued by the Sri Ram Institute for Industrial Research or any other agency as may be notified.

Research institution approval under income-tax rules preserves donor tax benefits subject to compliance, with annual audit and reporting conditions required.
Approval is granted to Sitaram Bhartia Institute of Science and Research, Kolkata as a Notified Institution under clause (ii) of sub-section (1) of section 35 read with Rules 5C and 5E, effective from 1-4-2006, subject to conditions: research-use of sums received; research carried out by faculty or enrolled students; maintenance and audit of books by a defined accountant with audit report furnished to the tax authority by the return due date; and a separate auditor-certified statement of donations received and amounts applied for scientific research accompanying the audit report.

Special Economic Zone notification for electronic hardware and logistics area in Kancheepuram District with later de-notification notes.
The Central Government notified a specified area at Sriperumbudur Taluk, Kancheepuram District, Tamil Nadu, as a Special Economic Zone for electronic hardware and related support services, including trading and logistics operations, after approval under the Special Economic Zones Act, 2005. The notification identifies the lands by village, survey number, and area, aggregating 140.75.5 hectares, and later notes record subsequent de-notification of portions of the area.

Special Economic Zone designation establishes specified land parcels as IT SEZ at Jhund Sarai and Bhangrola villages.
Central Government, invoking powers under section 4(1) of the Special Economic Zones Act, 2005 and rule 8 of the Special Economic Zones Rules, 2006, notifies specified survey and killa numbers in Jhund Sarai and Bhangrola villages, Gurgaon, Haryana as a Special Economic Zone for information technology proposed by Suncity Haryana SEZ Developers Private Limited, following grant of letters of approval under section 3 of the Act; the notification includes a parcel-level schedule with area measurements and a consolidated area.

Certification of Associated Persons mandates a regulatory certification regime for persons engaged in securities market activities.
Notification establishes the Certification of Associated Persons in the Securities Markets) Regulations, 2007, issued under the statutory powers conferred by the securities law, creating a certification regime applicable to persons associated with securities market activities and enabling the regulator to prescribe requirements, procedures and compliance obligations for certification under its delegated authority.

Foreign central bank purchases of government securities authorised, subject to regulatory conditions for secondary market trading.
The regulations define Foreign Central Bank as an institution outside India with central bank functions and amend Regulation 5(4) to allow a non-resident Indian, a registered FII, or a Foreign Central Bank to purchase securities other than shares or convertible debentures under Schedule 5. Schedule 5 is further amended to permit a Foreign Central Bank to purchase and sell dated Government securities and treasury bills in the secondary market, subject to conditions stipulated by the Reserve Bank.

Exchange Rate Determination sets distinct import and export conversion rates for listed foreign currencies under Customs Act
Determination of exchange rates under the Customs statutory authority prescribes distinct rupee conversion rates for listed foreign currencies to be applied for imported and exported goods, effective from 1st November, 2007. The notification supersedes earlier exchange-rate notifications except as to prior actions. Two annexed schedules set the operative figures: Schedule I for per-unit currency rates and Schedule II for rates per 100 units, each showing separate import and export rupee equivalents to be used for customs purposes.

Appointment of Special Adjudicators authorises Commissioner of Central Excise Bangalore to adjudicate specified show cause notices.
The Central Board of Excise and Customs authorises the Commissioner of Central Excise (Adjudication), Bangalore to exercise the powers and discharge the duties of the Commissioner of Customs, Bangalore for adjudication of the specific show cause notices listed in the notification, each identified by party name and reference number, limiting the delegation to those enumerated matters.

Common Adjudicating Authority appointed to adjudicate DRI show cause notices against firms linked to a trading group.
The Central Board of Excise and Customs appoints the Commissioner of Central Excise and Customs, Surat 1 as a common adjudicating authority under section 4(1) and section 5(1) of the Customs Act, 1962 to exercise the powers and duties of the listed Customs Commissioners and other officers for adjudicating show cause notices issued by the Additional Director General, DRI (F.No. DRI/SRU/INV 02/2005 dated 20th April, 2007) relating to specified firms owned, managed or controlled by Chakkiwala Brothers.

Common adjudicating authority designated to hear show cause notices against M/s Edward Life Sciences, consolidating powers of specified customs commissioners.
Appoints a Common Adjudicating Authority under sections 4(1) and 5(1) of the Customs Act by designating the Commissioner of Customs (Air Cargo Import), Mumbai to exercise the powers and duties of specified Commissioners for adjudicating the show cause notices issued to M/s Edward Life Sciences, with a later substitution amending the roster of commissioners.

Common adjudicating authority appointment transfers adjudicatory powers to Mumbai Customs Commissioner to decide specified show cause notice.
The Central Board of Excise and Customs, exercising powers under the Customs Act, appoints the Commissioner of Customs (Imports), New Customs House, Mumbai as a common adjudicating authority to exercise the powers and discharge the duties of the specified Commissioners of Customs for adjudicating the show cause notice issued by the Directorate General of Revenue Intelligence against M/s Samay Electronic Private Limited.

Customs notification amendment adds Nashik as authorised site for unloading imports and loading exports under Customs Act.
The Board inserts Nashik into the notified table, authorising the unloading of imported goods and the loading of export goods (or classes of such goods) at that location, under powers conferred by clause (a) of subsection (1) read with subsection (2) of section 7 of the Customs Act, 1962, thereby amending Notification No. 61/1994 Customs (N.T.).