Exemption under section 35AC extended for a charitable hospital construction project, keeping it eligible for tax benefits.
Central Government, relying on the rule based recommendation of the National Committee and its statutory power to specify eligible schemes for tax exemption, extended specification of Shree Bhagwat Vidyapeeth's construction of a 200 bedded Nirmay Tirth hospital with mobile dispensaries as an eligible project for three further assessment years - 1997 98 to 1999 2000 - noting the project's estimated cost and prior three year specification.

Exemption under Section 35AC: specified medical infrastructure project retains eligibility for additional assessment years.
Exemption under Section 35AC: the Central Government specifies the construction, furnishing and running of an OPD, Cobalt Therapy and Dental Hospital at Ahmednagar by Pravara Medical Trust as an eligible project for income tax exemption, relying on the National Committee's recommendation under the Income tax Rules and exercising powers under the Explanation to Section 35AC.

Exemption under section 35AC extended to SEWA Rural integrated rural development project for three further assessment years.
Central Government specifies the Integrated Rural Development project carried out by SEWA Rural, District Bharuch-covering health and medical services, vocational training for youth, women's income generation activities, promotion of cottage industries, and low cost housing assistance-as an eligible project for exemption under the Income tax Act following a National Committee recommendation, and extends that specification for three further assessment years with an estimated project cost of rupees four crores eighteen lakhs fifty thousand.

Section 35AC exemption extended for a rural women vocational training project, maintaining eligibility for income-tax benefits.
The Central Government specified the Andhra Mahila Sabha Trust Board's Training and Rehabilitation of Rural Women in Rangareddy District as an eligible project under Section 35AC for vocational training in specified trades, and, after a National Committee recommendation under rule 11M(5), extended that specification for two further assessment years, thereby continuing the project's entitlement to the income-tax exemption for the extended period.

Exemption under section 35AC extended to expansion and running of a tuberculosis hospital, prolonging eligible project status.
The Central Government specified the expansion and running of a Tuberculosis Hospital and Public Health Programme by Shree Kalyan Arogya Sadan T. B. Hospital and Medical Research Centre, Rajasthan, as an eligible project for tax exemption under Section 35AC, and, following the National Committee's recommendation that the project was properly executed, extended that specification for a further three assessment years, covering assessment years 1997-98 through 1999-2000.

Exemption under section 35AC allows deduction for an approved educational project by a corporate sponsor for specified assessment years.
The Central Government approves Jindal Aluminium Ltd. under section 35AC, specifying construction of school buildings in designated villages as the eligible project, the project's estimated cost and the maximum amount of that cost allowable as a deduction. The notification is operative for three assessment years (1997-98 to 1999-2000). A subsequent notification substituted the project description and the stated estimated cost.

Exemption under section 35AC: specified institutions and projects approved with fixed deductible project-cost ceilings and time limits.
Approval under section 35AC designates specified institutions and their identified projects as eligible for deduction by fixing, in a Table, each project's estimated cost and the maximum portion of that cost allowable as a deduction; the notification also sets differing temporal limits by serial number for the assessment years during which such deductions may be claimed and records later substitutional amendments to certain cost figures.

Recognition under the Securities Contracts Act renewed, extending the exchange's authorised operations for a fixed two-year term.
Statutory recognition is renewed for the Uttar Pradesh Stock Exchange Association Limited, Kanpur under the Securities Contracts (Regulation) Act after consideration of its application and applicable procedural rules, the regulator being satisfied that renewal is in the interest of trade and the public, thereby extending the Exchange's authorised capacity to deal in contracts in securities for a limited fixed term.

Permanent Account Number requirement made compulsory for specified taxpayers in designated regions, requiring timely application to tax authorities.
Compulsory application for allotment of a Permanent Account Number under the new series is required for persons assessed by specified income tax authorities in Delhi, Mumbai and Madras who lack a PAN or hold a PAN not under the new series and who: have total income above the basic exemption limit; carry on a business or profession with turnover, sales or gross receipts likely to exceed the stated threshold; or are required to furnish a return of income. Applications to the concerned Assessing Officer must be made within 1-30 June 1996 for assessment year 1996-97, and persons becoming newly liable thereafter must apply on or before 30 June in subsequent assessment years. Persons already allotted a PAN under the new series need not reapply.

Exchange rate determination for export goods sets official conversion rates, superseding prior notification and governing customs valuation.
Determination of official exchange rates for export goods under the Customs Act, superseding the earlier notification and prescribing specific foreign-currency-to-Indian-rupee conversion rates effective from 1st June, 1996, set out in Schedule I (rates per one unit) and Schedule II (rates per one hundred units) for use in export-related customs administration.

Exchange Rate Determination for imported goods fixes currency conversion rates affecting stamp duty and customs valuation.
Prescribes exchange rates for specified foreign currencies to be applied in converting to Indian rupees for calculating stamp duty under the Indian Stamp Act, 1899 and for section 14 of the Customs Act, 1962 insofar as it relates to imported goods; supersedes the earlier notification and, from the first day of June, 1996, makes the rates in Schedule I (per one unit) and Schedule II (per one hundred units) the operative conversion factors.

Customs exemption inclusion adds Greaves Limited to list of beneficiaries under the missile development notification.
The Central Government amends Notification No. 257/92-Customs by adding item 71 to the Table in the opening paragraph, listing Greaves Limited, New Delhi, as an eligible beneficiary under the Missile Development Programme exemption pursuant to its statutory power under the Customs Act.

Modification of tax-exempt recognition under clause 23C changes the notified assessment years for the charitable society.
The Central Government amends Notification No. 9890 (F. No. 197/117/95-ITA-I) dated 5 October 1995 under sub-clause (iv) of clause (23C) of section 10, substituting the words and figures "Assessment years 1991-92 to 1993-94" with "Assessment years 1996-95 to 1996--97" for Tagore Society for Rural Development, Calcutta.

Specification under section 80G: Shri Omkareshwar Temple Trust recognised as a public place of worship for tax purposes.
Central Government specifies Shri Omkareshwar Temple Trust, Mandhata, Madhya Pradesh, as a place of public worship for the purposes of Section 80G of the Income-tax Act, 1961, limited to recognition throughout the State of Madhya Pradesh and valid only for repair and renovation work subject to the stated expenditure ceiling.

Interest relief: Chief Commissioner or Director General may reduce or waive tax interest where return filed and tax paid.
The Chief Commissioner of Income tax and the Director General of Income tax may order reduction or waiver of interest under sections 234A, 234B and 234C in specified classes of cases, provided the assessee has filed the return for the relevant assessment year and paid the entire assessed tax except the interest sought to be reduced or waived; the authorities may impose additional conditions and must be satisfied on the facts that reduction or waiver is appropriate.

Excise exemption for vehicle body parts removes liability for excise on parts not previously levied during the specified period.
Pursuant to section 11C of the Central Excises and Salt Act, the Central Government directed that excise duty which, but for an established administrative practice, would have been payable on parts and components fabricated and captively used for building motor vehicle bodies shall not be required to be paid in respect of such parts and components on which excise was not levied during the period commencing 28 February 1993 and ending 28 February 1994.

Custodian of Securities regulations establish a formal compliance and registration framework for securities custody services under statutory authority.
The notification promulgates the Securities and Exchange Board of India (Custodian of Securities) Regulations, 1996, creating a formal regulatory regime for entities providing custody of securities. Promulgated under statutory authority and published in the official Gazette, the Regulations establish registration, conduct and supervisory requirements that govern custodial services and place custody activities within a defined compliance framework in the securities market.

Double taxation avoidance treaty allocates taxing rights and relief, with permanent establishment rules, withholding limits, and information exchange.
Bilateral Convention to avoid double taxation and prevent fiscal evasion: applies to residents, specifies covered taxes, and defines key terms. Residency tie breakers use centre of vital interests for individuals and place of effective management for entities. Permanent establishment rules delineate attributable activities, exclusions and agency tests; business profits attributable to a PE are to be computed as if the PE were a distinct enterprise, subject to deduction rules and methodological consistency. Articles fix taxing rights and withholding ceilings for dividends, interest and royalties, provide capital gains and personal services rules, prescribe elimination of double taxation by exemption or credit, non discrimination, mutual agreement procedures and exchange of information, and set entry into force and termination modalities.

Approval under Section 36(1)(viii): company recognised for tax deduction purposes, subject to statutory compliance.
The Central Government has approved M/s. Power Finance Corporation Ltd., New Delhi, as a company for the purposes of the Income-tax Act provision governing specified deductions for the assessment years named in the notification, subject to the condition that the company shall conform to and comply with the requirements of that provision.

Port for coastal trade designation expanded to include Surasani-Yanam, adding it to the notified coastal ports list under customs rules.
The notification inserts Surasani-Yanam as an additional entry for Andhra Pradesh in the Table to the prior customs notification listing ports for coastal trade, thereby expanding the notified roster of coastal trade ports. The amendment is promulgated under clause (d) of section 7 of the Customs Act, 1962, by way of a further notification to the earlier notification No. 64/94 (N.T.).