Specified government bond interest tax exemption requires transferee to notify issuer within prescribed period for transfer.
The Central Government specifies certain bonds issued by National Hydroelectric Power Corporation Limited as eligible under the proviso to the Income-tax Act governing tax deduction on interest, so that interest on those bonds is not subject to withholding; transfers by endorsement or delivery confer the benefit only if the transferee notifies the issuer by registered post within sixty days of the transfer.

Notification under section 10(23C)(iv): Gujarat Rajya Rahat Samiti notified for tax-exempt status for specified assessment years.
The Central Government, exercising powers under clause (iv) of sub section (23C) of section 10 of the Income tax Act, 1961, notifies Gujarat Rajya Rahat Samiti for the purpose of that clause and recognizes its eligibility under the income tax exemption framework for the specified assessment years, with the notification reference recorded.

Notification under section 10(23C)(v): trust notified for specified assessment years for income tax exemption recognition.
The Central Government notifies that "Shri Dharma Sastha Utsavam Trust, Tattamangalam" is recognised under section 10(23C)(v) of the Income tax Act for the assessment years 1987 88 and 1988 89, recording the notification number and invoking the statutory power to confer the clause (v) tax treatment for those years.

Customs amendment: insertion covering handling charges at Inland Container Depot expands exemption wording accordingly.
Amendment inserts the phrase "and the handling charges incurred at the Inland Container Depot" into Notification No. 151/82-Customs, effected by the Central Government under statutory authority to modify the notification's wording so as to expressly cover handling charges at Inland Container Depots.

Customs exemption expanded to include all intelligence officers of the Central Economic Intelligence Bureau.
Exercising powers under section 4(1) of the Customs Act, 1962, the Central Government amends Notification No. 38 Customs (1 February 1963) by inserting Clause 6: "All Intelligence Officers of the Central Economic Intelligence Bureau," thereby bringing that class of officers within the scope of the notification's exemptions.

Extension of customs exemption notifications: expiry dates extended by executive amendment under customs authority pursuant to statutory power
The central government directs amendment of five customs exemption notifications by substituting the expiry wording in paragraph 2 of each notification with updated expiry wording. The change is effected by substitution of the earlier date-language with new date-language in paragraph 2 of the listed notifications, as recorded in the annexed Table.

Central Excise Tariff Amendment updates a tariff classification reference, altering the scope of a miscellaneous exemption.
The Central Government, under sub rule (1) of rule 8 of the Central Excise Rules, 1944, amends Notification No. 64/86-Central Excises by substituting in the annexed Table at Serial No. 16, Column 2, the existing entry with the entry "82, 83 or 84", thereby changing the tariff classification reference for that exemption provision.

Approval under section 35(1)(iii) mandates separate research accounts and annual audited returns for approved institutions.
Approval under section 35(1)(iii) recognises Karve Institute of Social Service as an eligible "Institution" for research-related tax treatment, conditional on maintaining a separate account for research receipts, filing annual returns of scientific research activities by 31st May, and submitting audited annual accounts, income and expenditure statements, and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30th June. The approval is time-limited and requires an extension application to the Central Board at least three months before expiry.

Notification under section 10(23C)(v) affirms charitable institution tax-exempt recognition for the specified assessment year only.
Notification under section 10(23C)(v) designates Srirangam Srimad Andavan Pariasramam as eligible for the tax exemption benefits of that clause, recognizing the institution's entitlement to the clause's fiscal treatment for the assessment year 1988-89 by statutory notification.

Tax exemption notification under section 10(23C)(iv) designates Gujarat Ecological Education and Research Foundation for limited assessment years.
Central Government, invoking clause (iv) of sub section (23C) of section 10 of the Income tax Act, 1961, notifies Gujarat Ecological Education and Research Foundation, Gandhinagar as eligible under that clause for the specified assessment years, thereby applying the tax exemption classification and statutory recognition for those years.

Tax exemption recognition: Consumer Education and Research Centre recognised under section 10(23C)(iv) for specified assessment years.
Central Government, under clause (iv) of sub section (23C) of section 10 of the Income tax Act, notifies Consumer Education and Research Centre, Ahmedabad as an organisation covered by that clause for specified assessment years, thereby recognising it for income tax purposes under the charitable/educational exemption provision.

Research institution approval under section 35(1)(ii) requires separate research accounts, annual returns and audited account filings.
Approval under section 35(1)(ii) recognises Mukund Foundation for Agriculture Research, Coimbatore as an Association for research-related tax purposes, subject to maintaining a separate research account, filing annual scientific activity returns by 31st May, submitting audited accounts and balance-sheet to the prescribed authority and tax administration by 30th June, and applying for extension at least three months before approval expiry; late renewal applications may be rejected. The approval is effective from 1-4-1987 to 31-3-1988.

Auxiliary duty amendment inserts a new customs notification into the exemption schedule under delegated statutory powers.
Notification No. 298/87 Cus dated 17 8 1987 amends Notification No. 209/87 Customs by inserting a new Serial entry (No. 80) in the Schedule, thereby adding a reference to Notification No. 297 Customs dated 17th August, 1987; issued under powers conferred by the Customs Act and consequential provisions of the Finance Act to modify the exemption entries in the customs tariff.

Customs exemption for electric vehicle components requires approved import programme, certified component lists, usage accounting, and repayment on breach.
The notification exempts components of specified electrically operated vehicles and battery powered road vehicles, including semi-knocked down and completely knocked down packs, from customs duty in excess of a fixed ad valorem rate and from additional duty under the Customs Tariff Act, provided the components are listed by an Industrial Adviser, imported under a Ministry-approved programme with evidence produced to the Assistant Collector, and subject to an undertaking requiring specified use, prescribed accounting, production of certified receipt extracts and payment of duty differences on failure to comply.

Customs exemption for high-purity metals and cast alloy permanent magnets allows relief for qualifying manufacturers importing those goods.
Amendment to the customs exemption schedule substitutes Serial No. 84 to specify that certain high-purity iron, copper and aluminium, and cast alloy permanent magnets are subject to exemption when imported by manufacturers of such magnets, clarifying the scope of exemption eligibility under the relevant customs powers.

Excise duty cap for electrically operated and battery road vehicles limited to a specified low ad valorem rate under notification.
The notification exempts certain electrically operated trolley buses, platform trucks, works trucks, tow tractors and battery powered road vehicles from excise duty to the extent that the duty exceeds the amount calculated at the rate of 5 per cent ad valorem; it defines each vehicle category by reference to propulsion solely by electrical energy from external sources or batteries and sets a temporal limit for the exemption under rule 8 of the Central Excise Rules, 1944.

Customs exemption for bunker fuel retained at reversion now covers consumption during the vessel's coastal run.
The amendment expands the existing miscellaneous exemption by inserting that bunkers retained on board at the time of a vessel's reversion from foreign run to coastal run and consumed during its coastal run are included within the scope of the original notification, thereby extending the operative exemption to fuel retained at voyage-status change and consumed during coastal navigation.

Customs exemption amendments update specified notification entries to broaden and clarify product descriptions for leather and machinery.
The Central Government, under section 25(1) of the Customs Act, 1962, amends three prior exemption notifications by substituting specific tariff-table descriptions: "Clicking machine (upper)" becomes "Clicking machine"; the sole leather entry is expanded to include sole leather and cut soles and units thereof with or without heels of leather/PVC/rubber/coco board/masonite or any other particle board or combination thereof, with or without rubber/PVC top lift; and every occurrence of "blades for leather shaving machines" is replaced by "blades/ knives for leather shaving machines".

Notification under section 10(23C)(iv) recognizes The Salesian Province of Calcutta for specified consecutive assessment years.
Notification under clause (iv) of sub section (23C) of section 10 of the Income tax Act notifies "The Salesian Province of Calcutta (Northern India)" for the purpose of that clause for the assessment years 1985 86 to 1988 89, issued as S.O.2952 dated 12 8 1987 by the Central Government.

Section 10(23C)(iv) recognition secures tax-exempt status for Seva Mandir under Central Government notification for the assessment year.
Central Government, invoking clause (iv) of sub section (23C) of section 10 of the Income tax Act, 1961, notifies Seva Mandir, Udaipur as an institution covered by that clause and records that notification by S.O.2951 dated 12 8 1987 for the assessment year 1988-89, thereby recognising the institution within the statutory exemption framework for that assessment year.