Tax benefit eligibility extended for recurring community health centre expenses by a charitable trust for further years.
The Central Government, acting on the National Committee's rule-based recommendation, specifies that recurring expenses for the Community Health Centre carried out by Smt. Sharda Jhatakia Memorial Trust, Gondal, continue as an eligible project under Section 35AC for a further three financial years commencing with 2010-11, without change in the previously approved project cost and corpus fund.

Cost Inflation Index updated to add the fiscal year for indexation under section 48, affecting capital gains computation.
The Central Government amends Notification S.O. 2292(E) (9-9-2009) under the Explanation to section 48 by inserting a new table entry for the fiscal year 2010-2011 with the prescribed Cost Inflation Index value, thereby extending the schedule of indexation values used for computing indexed cost for capital gains.

Scientific research expenditure approval: Astra Zeneca Research Foundation India recognized under section for tax-qualification subject to audit and reporting conditions.
Astra Zeneca Research Foundation India, Bangalore is approved as an approved organization in the category of Association partly engaged in research for purposes of deductions for payments to approved research organizations, subject to conditions: sums paid must be used for scientific research; research conducted through faculty or enrolled students; separate books of account for research sums maintained and audited by a qualified accountant with the audit report furnished by the income-tax return due date; and a certified statement of donations and amounts applied for research must accompany the audit report. Approval may be withdrawn for failure to comply or for cessation or non-genuineness of research activity.

Scientific research expenditure approval: MEPCO Sehlenk Engineering College qualifies under research expenditure rules, subject to audit and accounting conditions.
MEPCO Sehlenk Engineering College, Sivakasi is approved for purposes of deductions for scientific research expenditure from assessment year 2010-11 as a college partly engaged in research, subject to conditions: sums received must be used for scientific research; research must be carried out 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 and an auditor certified statement of donations and amounts applied for research furnished to the tax authority by the return due date; approval may be withdrawn for non compliance or cessation of genuine research activity.

Research expenditure approval under section 35(1)(ii) permits donations when used for scientific research with audit compliance.
Approval of Sardarkrushinagar Dantiwada Agricultural University under section 35(1)(ii) permits sums paid to the university to be treated for scientific research only if the university conducts research through faculty or enrolled students, maintains separate books of account for research receipts and expenditures, obtains an audit by a qualified accountant and files the audit report by the return due date, and provides a certified statement of donations and amounts applied for research.

Retrospective exemption for service tax on transmission and distribution of electricity directs non-payment for previously unlevied taxable services.
The Central Government directed a retrospective exemption from payment of service tax on taxable services relating to transmission and distribution of electricity where such tax had not been levied in accordance with a generally prevalent practice, invoking powers under the Central Excise Act read with the Finance Act; the direction covers services provided by service providers to service receivers for the relevant past periods.

Service Tax Return Preparer Scheme amendment removes the proviso to paragraph 4(1) and deletes paragraph 4(2).
Amendment to the Service Tax Return Preparer Scheme, 2009 omits the proviso to sub paragraph (1) of paragraph 4 and deletes sub paragraph (2) of paragraph 4 by notification issued under the Finance Act enabling power, formally modifying the Scheme's operative text.

VAT rate reduction on diesel and dry fruits; schedules amended to lower applicable VAT and update commodity classification
Amendment effects a VAT rate reduction by inserting "dry fruits" into the Third Schedule and omitting entry (v) in the Fourth Schedule of the Delhi Value Added Tax Act, 2004; the changes are made under section 103 and take effect on the stated effective date, with departmental directions for publication and administrative implementation.

VAT rate reduction on diesel and dry fruits lowers tax charges under Delhi VAT via schedule amendments.
Notification under the Delhi Value Added Tax Act reduces the VAT rate on diesel from 20% to 12.5% and on dry fruits from 12.5% to 5%, inserts the words "dry fruits" into the Third Schedule after "pisi mehendi", and omits entry (v) in the Fourth Schedule at Sl. No. 1; the amendments take effect from 20th July, 2010 pursuant to section 103.

Corrigendum to income-tax rules corrects form reference and adds annexure allowance for multiple quarterly transactions.
Corrigendum effects textual and procedural corrections to the Gazette Notification: replace "(Amendment)" with "(6th Amendment)", correct the form reference to Form No. 12BA, change the heading from "THROUGH CHALLAN" to "THROUGH BOOK ENTRY", and insert a note allowing a separate annexure for summaries when multiple payments, credits, receipts or debits occur in a quarter; other contents remain unchanged.

Currency derivatives access expanded: residents may use currency futures and options on recognised exchanges under regulatory directions.
A person resident in India may enter into currency futures or currency options on a stock exchange recognised under the Securities Contract (Regulation) Act, 1956, to hedge an exposure to risk or otherwise, subject to such terms and conditions as may be set forth in directions issued by the Reserve Bank of India.

Prohibition on appointment of sole selling agents for specified drug categories, exempting Ayurvedic, Unani and Homoeopathic preparations.
The Central Government prohibits the appointment of sole selling agents for every category of bulk drugs, drugs and formulations as defined in the Drugs (Prices Control) Order, 1995, when demand substantially exceeds production or supply and sole selling agent services are unnecessary to create a market, excluding bona fide Ayurvedic (including Siddha), Unani and Homoeopathic preparations; the prohibition operates for a prescribed period from the notification's Gazette publication and is grounded in the Government's statutory notification power.

Tariff values amendment for specified edible oils and brass scrap updates customs valuation, replacing the previous schedule.
Under the authority of section 14(2) of the Customs Act, 1962, the notification substitutes a revised Table into Notification No. 36/2001-Cus (N.T.), fixing Tariff Values for specified imported goods including categories of palm oil, palmolein, crude soyabean oil, brass scrap (all grades) and poppy seeds, indicating which entries remain unchanged and establishing the operative schedule of values per metric tonne for customs valuation purposes.

Industrial park recognition confirms undertaking and project eligible for tax incentives, subject to accuracy and approval conditions.
Notification recognizes M/s. Infinity Infotech Parks Limited and its specified project as an industrial park eligible under the industrial park scheme, recording commencement as 28th March, 2008. Recognition is contingent on truthful, complete submissions and exclusive entitlement to the location; wrong or omitted material information, prior notification for the location to another undertaking, unapproved amendments to the project plan, or nondisclosure of material facts will invalidate the approval and render the undertaking responsible.

Import restriction on multichannel GSM/CDMA monitoring devices mandates restricted licensing and controlled imports under foreign trade policy.
Multichannel GSM/CDMA receivers, transmitters and transreceivers capable of receiving or transmitting on two or more frequencies simultaneously are designated as restricted items; a General Note and a new Import Licensing Note were added to the Schedule of Imports requiring restricted import status and licensing compliance under the Foreign Trade Policy.

Amendment to committee constitution extends operative date for National Advisory Committee on Accounting Standards under Companies Act authority.
Amendment revises the operative date in the prior Gazette notification constituting the National Advisory Committee on Accounting Standards by substituting the previously published date with a new date under the authority of sub section (1) of section 210A of the Companies Act, thereby altering the temporal reference in the principal notification without changing the committee's composition or functions.

Anti-dumping duty on glass fibre imports from China imposed to address dumping and injury to domestic industry.
Provisional anti-dumping duty is imposed on imports of glass fibre and articles thereof from the People's Republic of China following designated authority findings of dumping below normal value and resultant material injury to the domestic industry. The notification lists producer- and exporter-specific CIF ad valorem rates and higher residual rates for other cases, defines covered and excluded glass-fibre products, mandates payment in Indian currency, and requires exchange-rate determination based on the bill-of-entry date under applicable Customs Act and anti-dumping rules; the measure is effective until 13 January 2011.

Prescribed authority change: Chief Commissioner of Income Tax Hyderabad III to handle specified income tax exemption cases.
The notification substitutes item (iv) to designate that cases within the jurisdiction of the Director of Income Tax (Exemption), Hyderabad, shall have the prescribed authority as the Chief Commissioner of Income Tax, Hyderabad III, Hyderabad, thereby reassigning supervisory responsibility for exemption matters under the relevant income tax exemption provisions.

Tax-free bond specification: interest on specified pooled finance bonds exempt under Section 10(15)(vii) subject to scheme guidelines.
Specification under section 10(15)(vii) designates tax-free Pooled Finance Development Bonds issued by the Water and Sanitation Pooled Fund, Tamil Nadu, to part-fund seven Urban Local Body projects for water supply and underground sewerage. The bonds carry a ten-year tenure with a five-year principal moratorium and interest not exceeding eight percent per annum. Tax-exemption is conditional on compliance with the Pooled Finance Development Scheme Guidelines and the Ministry of Urban Development's OM, and on issuance within twelve months of this notification.

Prescribed authority designation: Chief Commissioner of Income Tax Hyderabad-III now handles Hyderabad exemption cases under income-tax rules.
Amends the earlier notification to substitute item (iv), designating that cases within the jurisdiction of the Director of Income Tax (Exemption), Hyderabad, shall have the prescribed authority as Chief Commissioner of Income Tax, Hyderabad-III, Hyderabad, under the enabling provisions of section 10(23C) read with the relevant income-tax rule.