Tax notification under section 10(23C)(iv) confirms charitable institution recognition for the specified assessment year for tax purposes.
Notification under Section 10(23C)(iv) of the Income-tax Act, 1961, notifies The Andhra Pradesh State Council for Child Welfare, Hyderabad, as recognised for the purposes of that sub-clause for the assessment year 1989-90 by S.O.336 dated 4-7-1991, issued by the Central Government.

Tax exemption under section 10(23C)(v) granted with conditions on application, investment of funds and business income treatment.
Notification under section 10(23C)(v) notifies Sri Vedanta Desikar Devasthanam, Madras for specified assessment years subject to conditions: (i) income must be applied or accumulated wholly and exclusively for the institution's objects; (ii) funds (other than certain voluntary contributions retained as jewellery, furniture etc.) must be invested only in modes specified in section 11; and (iii) the notification does not apply to business income unless the business is incidental and separate books are maintained.

Exchange Rates amendment establishes official foreign currency conversion rates for customs and stamp law purposes, effective upon notification.
Amendment substitutes the earlier notification's schedule by replacing the entries for eighteen specified foreign currencies with new official conversion rates to be applied for customs and stamp law purposes, issued under the Indian Stamp Act and the Customs Act, and specifies the date from which these rates are effective.

Exchange rate determination: Russian rouble conversion rate set under Customs Act for import-export valuation and duties.
An official conversion rate for the Russian rouble is prescribed under the Customs Act for purposes of customs valuation and related statutory calculations; this notification supersedes the earlier government notification and specifies the effective date from which the new conversion rate must be applied by customs authorities.

Exchange rate amendment updates official currency conversion rates under statutory authority, effective from the notified date.
The Central Government amends an existing customs notification by substituting revised exchange rates for specified foreign currencies in the notification schedule, these substituted rates to operate from the notified effective date and thereby update official conversion benchmarks for customs and related non-tariff purposes.

Excise exemption: duties on unprocessed cotton fabrics need not be paid where they were not levied under earlier notification.
Directs that excise duty and special duty of excise shall not be required to be paid in respect of unprocessed cotton fabrics under sub-item 1(a) of Item 19 where, owing to a prevailing administrative practice, such duties were not levied under the notification of 15th July, 1977 for the relevant period; issued under Section 11C to relieve liability for duties omitted through that practice, subject to specified exclusions for certain fabric types and manufacturing descriptions.

Storage permission for duty-paid ice-cream: board may allow deposit in storerooms subject to prescribed conditions.
Rule 47 of the Central Excise Rules, 1944 is amended by inserting sub-rule (2A) permitting the board, notwithstanding sub-rule (2), to permit duty-paid ice-cream to be deposited in a store room or other place of storage, subject to such conditions and limitations as the board may lay down.

Section 35(1)(ii) approval mandates separate research accounts and annual submission of audited returns by prescribed deadlines.
Approval is granted to Kidwai Memorial Institute of Oncology as an Institution under section 35(1)(ii), conditional on maintaining a separate account for scientific research receipts, furnishing annual scientific research returns to the Secretary, Department of Scientific and Industrial Research by 31 May each year, and submitting audited annual accounts showing income, expenditure, assets and liabilities to designated tax and research authorities by 30 June each year; approval effective from 1 April 1991 to 31 March 1993 with prescribed procedures for extension applications.

Extension of notification validity under the Customs Act: statutory substitution prolongs the exemption's operative period to year-end.
The Central Government, exercising powers under the Customs Act and acting in the public interest, amends Notification No. 514/86-Customs by substituting the earlier expiry date in paragraph 2 with a later expiry date, thereby extending the operative period of the exemption while leaving the notification's other terms unchanged.

Exchange rate determination for stamp duty and customs prescribes specific conversion rates governing valuation and assessment.
Prescribes fixed conversion rates for specified foreign currencies to Indian currency for calculating stamp duty under the Indian Stamp Act, 1899 and for determination under section 14 of the Customs Act, 1962, effective from 1 July 1991, superseding an earlier notification; a Schedule lists the named foreign currencies with the rate of each currency equivalent to Rs. 100 to be used for valuation and assessment.

Tax exemption under section 10(23) granted to an association, subject to income application, investment and accounting conditions.
Notification designates Ratnagiri Zilla Bridge Association as eligible for exemption under clause (23) of section 10 for assessment years 1990-91 to 1992-93, conditioned on exclusive application or permitted accumulation of income to its objects, restricted forms of investment or retention of voluntary contributions, prohibition on distribution of income to members except by grants to affiliated bodies, and inapplicability of the exemption to business profits unless incidental to objectives with separate books maintained.

Section 35(1)(ii) research approval requires separate research accounts and annual audited returns to specified authorities.
The Schizophrenia Research Foundation (India), Madras is approved under clause (ii) of sub-section (1) of section 35 for the period 1-4-1989 to 31-3-1992, subject to maintenance of a separate research account, annual returns of research activities to the Secretary, Department of Scientific and Industrial Research by 31 May, and submission by 30 June of audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the Commissioner/Director of Income-tax (Exemptions). The organisation is instructed on procedures and timing for applying for extension of approval.

Research expenditure approval under tax provision granted subject to separate accounts, annual research returns and audited account submissions.
Approval granted to the National Council of Science Museums, Kolkata, as an institution under the tax provision for research expenditure for the stated period, conditional on maintaining separate research accounts, submitting annual returns of scientific research activities to the Department of Scientific and Industrial Research by the annual deadline, and furnishing audited annual accounts showing income, expenditure, assets and liabilities to designated tax and departmental authorities by the prescribed yearly date.

Approval under section 35(1)(ii): institute must maintain separate research accounts and submit annual returns and audited accounts.
Approval is granted to Sri Jayadeva Institute of Cardiology under section 35(1)(ii) in the category of Association for the period 1-4-1991 to 31-3-1992, subject to maintaining a separate account for research receipts, furnishing annual research activity returns to the Secretary, Department of Scientific and Industrial Research by 31st May, and submitting audited annual accounts to specified tax and research authorities by 30th June; instructions for applying for extension of approval are also provided.

Approval under section 35(1)(iii) imposes institutional recognition with annual accounts, research returns, and reporting obligations.
Approval is granted to Swami Ramanand Teerth Institute of Socio-Economic Research and National Integration as an Institution for research-related income-tax exemption, subject to maintaining a separate account for research receipts, furnishing annual returns of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31st May each year, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, and the relevant Commissioner/Director of Income-tax (Exemptions) by 30th June each year; the approval is effective for the period stated and an extension procedure is prescribed.

Research expenditure approval under section 35(1)(ii) granted with annual reporting and accounting conditions for institutions.
Indian National Academy of Engineering approved as an Institution for research exemption under section 35(1)(ii) subject to maintaining a separate research account, furnishing annual scientific returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the local Commissioner/Director by 30 June. Approval period: 1 April 1990 to 31 March 1992, with prescribed procedures for timely application for extension.

Approval under conservation donation provisions permits support for a gene bank subject to annual accounts and progress reports.
Approval is granted to M/s. Four Eyes Foundation, Pune for the "Susala Gene Bank-2" programme for three years from 1 August 1990, subject to maintenance of a separate donation account for conservation, annual progress reports to the prescribed authority by 30 June, submission of annual accounts and copies to tax commissioners by 30 June, and the prescribed authority's power to withdraw approval, including retrospectively.

Specified telephone bonds transfer condition: transferee must notify issuer by registered post within sixty days to secure tax benefit.
Central Government specifies 7 year 13% taxable secured redeemable non convertible telephone bonds, 1991 (5th Issue), issued by Mahanagar Telephone Nigam Limited, New Delhi, under the proviso to section 193; the tax benefit on transfer by endorsement or delivery is admissible only if the transferee informs the issuer by registered post within sixty days of such transfer.

Specification of taxable telephone bonds under section 80L requires transferee to notify issuer promptly after transfer.
Central Government specifies 7-year 13% taxable secured redeemable non-convertible telephone bonds (1991, 5th Issue) as eligible under clause (ii) of sub section (1) of section 80L of the Income tax Act, 1961. The benefit on transfer by endorsement or delivery is admissible only if the transferee informs the issuer by registered post within sixty days of the transfer.

Specified debt instruments: benefit applies to designated non cumulative secured redeemable bonds, subject to transferee's registered notice within prescribed period.
The Central Government specifies certain 7 year taxable non cumulative secured redeemable bonds as specified debt instruments for purposes of the proviso to section 193; where these bonds are transferred by endorsement or delivery, the transferee must inform the issuing company by registered post within sixty days of transfer to avail the benefit under the proviso.