Wipro Limited SEZ notified at Manikonda Jagir Village, enabling IT Special Economic Zone on 6.48 hectares.
Central Government notified a 6.48 hectare area at Manikonda Jagir Village, Rajendernagar Mandal, Ranga Reddy District, Hyderabad as a Special Economic Zone to enable M/s. Wipro Limited to set up an information technology SEZ, relying on a prior Board of Approval recommendation, the SEZ Rules' provision for continuity of pre rule approvals, and grant of a letter of approval after satisfaction of statutory requirements; the notified parcel is survey number 203/3 pt totaling 6.48 hectares.

Digital signature requirement: filing deadline extended but all electronic filings must use authorized DSCs under MCA21 thereafter.
Companies may file statutory documents without Digital Signature Certificates until the extended cut-off; thereafter all electronic filings under the MCA21 system must be submitted using the digital signatures of authorized signatories, with no further extensions. Companies and professionals should procure Class 2 or higher DSCs before the final deadline to comply with the mandatory electronic filing requirement.

Income tax exemption for ICC Champions Trophy media and sponsorship revenue notified under section 10(39) of the Income-tax Act.
The Central Government notifies ICC Development (International) Ltd. as the person and the ICC Champions Trophy, 2006 as the international sporting event, and declares income to ICC Development (International) Ltd. from sale of media and sponsorship rights received or receivable from Global Cricket Corporation Pte. Limited as the specified income for the purposes of the relevant clause of the Income-tax Act.

Tariff value revision updates import valuation for specified edible oils and brass scrap under Customs Act authority.
The Board, exercising powers under sub-section (2) of Section 14 of the Customs Act, 1962, substitutes the tariff-value table in Notification No.36/2001-Cus (N.T.) by a new table fixing tariff values in US dollars per metric tonne for specified edible oils and brass scrap (all grades), effective immediately under Notification No.85/2006-Customs (N.T.).

Renewal of recognition under the Securities Contracts (Regulation) Act grants OTC Exchange one year recognition subject to prescribed conditions.
Recognition is renewed under the Securities Contracts (Regulation) Act, 1956 by exercise of powers under Section 4 for a one year period commencing 23 August 2006 and ending 22 August 2007 in respect of contracts in securities, on the basis of trade and public interest and subject to conditions that may be prescribed or imposed.

Commencement of Act: specified Disaster Management Act provisions notified to come into force on appointed date.
Appointment under Section 1(3) of the Disaster Management Act, 2005 notifies that sections 2, 3, 4, 5, 6, 8, 10, 75, 77 and 79 shall come into force on the date appointed by the notification, bringing those listed provisions into operation from that appointed date.

Bank term deposit scheme: five year fixed deposits qualify for section 80C deduction subject to prescribed conditions.
The Bank Term Deposit Scheme, 2006 prescribes that individuals and Hindu undivided families may invest in scheduled bank term deposits of at least five years for purposes of deduction under section 80C, subject to an annual investment ceiling and minimum denomination. It sets procedures for application, issuance of receipts bearing prescribed particulars, nomination rules, non transferability between banks, prohibition on pledging, replacement of lost or damaged receipts with indemnity requirements, encashment only on five year maturity, bank determined interest payment modes, taxability of interest under the Act, and a governmental power to relax provisions to avoid undue hardship.

Income exemption under Section 10(23C)(v): receipts on behalf of church exempt subject to conditions for specified years.
Exemption under Section 10 (23C)(v) disallows inclusion in a recipient's total income of any income received by any person on behalf of The Malankara Orthodox Syrian Church for the assessment years 2005-06 to 2007-08, subject to conditions: income must be applied or properly accumulated for institutional objects with accumulation beyond fifteen per cent limited to five years; permitted modes of investment per section 11(5) must be followed; business profits are excluded unless incidental and separately accounted; regular filing of returns is required; and on dissolution surplus assets must go to a like minded organization. The notification applies only to recipients' receipts on behalf of the Institution; the Institution's own tax position is considered separately.

Jurisdictional appointment empowers Commissioner of Service Tax Mumbai with nationwide Central Excise Officer powers to investigate First Flight Courier cases.
The Commissioner of Service Tax, Mumbai is appointed and vested with all powers of a Central Excise Officer throughout India for investigation and adjudication of cases being investigated against M/s First Flight Courier Ltd, pursuant to Section 83A of the Finance Act, 1994 read with Rule 3 of the Service Tax Rules, 1994.

Industrial Park notification designates a private undertaking for tax benefits subject to infrastructure, minimum units and compliance conditions.
The Central Government notifies M/s. Shyamaraju & Company (India) Private Limited's undertaking as an Industrial Park under clause (iii) of sub section (4) of section 80 IA, specifying location, area, allocable industrial and commercial percentages, minimum units, commencement date, and project and infrastructure investment. Approval is subject to conditions including minimum infrastructure expenditure thresholds, definition of infrastructure, unit occupancy limits, requisite external approvals, continuity of operation by the developer, requirement to meet the minimum units before accessing tax benefits, transfer notification procedures, and invalidation consequences for misinformation or unapproved project amendments.

Industrial Park designation enables specified tax incentives subject to infrastructure, unit-count, approvals and compliance conditions.
Notification under Section 80-IA(4)(iii) designates M/s. Rajasthan State Industrial Development & Investment Corporation Limited's project at Khuskhera (Bhiwadi) as an Industrial Park, subject to annexed terms: specified area and allocation percentages, minimum number of units, declared investments, and infrastructure expenditure thresholds (50% generally; 60% if built-up space is provided). Conditions include a single-unit occupancy cap of 50% of allocable industrial area, requirement for statutory approvals, tax benefits conditional on minimum units being located, operator continuity during benefit period, transfer notification procedures, and invalidation or withdrawal for misinformation, unauthorized amendments or non-compliance.

Industrial Park notification conditions tax benefit eligibility contingent on infrastructure, unit thresholds, approvals and ongoing operation.
The Central Government notifies the industrial part of M/s. Rajasthan State Industrial Development & Investment Corporation Limited, Jaipur, as an Industrial Park under clause (iii) of sub-section (4) of section 80 IA, subject to specified terms: project particulars including area, allocable industrial/commercial proportions, minimum unit count and investment; minimum infrastructure expenditure thresholds; defined infrastructure components; cap on single-unit occupancy; statutory and foreign investment approvals; tax benefits linked to presence of minimum units; ongoing operation by the undertaking; transfer notification requirements; and invalidation or withdrawal for misrepresentation, undisclosed material facts, unauthorized amendments, or non-compliance.

Industrial park approval enables tax benefits once specified unit and infrastructure conditions are met under prescribed scheme.
Notification designates the Rajasthan State Industrial Development & Investment Corporation Limited's Thanagazi project as an Industrial Park under clause (iii) of sub section (4) of section 80 IA, subject to annexure terms. Key conditions require specified allocations for industrial and commercial use, a minimum number of units before tax benefits accrue, prescribed minimum infrastructure expenditure (higher where built up space is provided), defined common infrastructure elements, a cap on any single unit's share of allocable area, separate statutory approvals, continuous operation by the promoter, and obligations on transfers, amendments and disclosures.

Import permission for PVC flooring scrap for recycling conditioned on material specifications, user restrictions, and pollution control monitoring.
Import permission is granted for PVC flooring scrap for recycling limited to industrial trimmings and rejects; imports must meet composition and quality parameters, recycling and manufacturing standards, limits on final unconverted waste with landfill disposal, and the recycled product must conform to BIS specifications. Imports are allowed only to actual users, subject to monitoring by Pollution Control Boards/Committees and annual returns to those authorities, with post-consumer waste prohibited and restrictions on use of export/import houses tied to plant installed capacity.

Section 35(1)(ii) approval requires separate research accounts, audited research statements and auditor certification of donor-eligible receipts.
Approval is granted to M/s. Lokmanya Medical Research Centre as an institution partly engaged in research, subject to maintaining separate accounts for research; submitting, for each approved year, audited Income & Expenditure accounts for the research activities to the tax exemption authority by the due date of filing return or within ninety days of the notification, whichever is later; and enclosing an auditor's certificate specifying donor-eligible research receipts and certifying that the expenditure was for scientific research.

Industrial Park approval enables tax benefit eligibility subject to infrastructure thresholds, occupancy caps, compliance, and transfer notifications.
The Central Government notifies M/s. Kirloskar Systems Limited's development as an Industrial Park for income-tax benefit purposes, specifying location, area, activity mix, land allocation percentages, minimum number of industrial units, commencement date, and investment thresholds. Conditions for tax benefit eligibility include minimum infrastructure expenditure proportions, a cap on single-unit occupancy of allocable industrial area, continuation of promoter operation during the benefit period, regulatory approvals for foreign or nonresident investment, and requirement of fresh approval if commencement is delayed. Approval is subject to withdrawal or invalidation for misinformation, misuse, nondisclosure, unauthorized amendments, or noncompliance, and transfer of operation requires joint intimation to the designated authority.

Industrial Park designation conditions tax-benefit eligibility subject to infrastructure, unit thresholds and ongoing compliance.
Central Government notifies M/s. Phoenix Software Limited's undertaking as an Industrial Park under Section 80IA(4)(iii), specifying location, area, principal activities, allocable area percentages, minimum number of industrial units, proposed investments and commencement date; requires minimum infrastructure expenditure (higher threshold if built-up industrial space provided), defines infrastructure, caps single-unit occupancy at fifty percent of allocable industrial area, conditions tax benefits on meeting the minimum units and continuous operation, requires separate statutory approvals, prescribes procedures for transfer, and permits withdrawal or invalidation for nondisclosure, misstatement, delay or noncompliance.

Exchange rate notification establishes specified foreign currency conversion rates for exports, superseding the prior notification and taking effect soon.
The Board, exercising powers under the Customs Act, notifies specified foreign currency conversion rates for export goods effective 1 August 2006, superseding the prior June notification. Schedule I lists rupee equivalents for one unit of multiple major currencies and Schedule II lists the rupee equivalent for one hundred units of Japanese Yen for use in export-related customs conversion.

Exchange rate determination for imports set effective August, establishing specified foreign currency-to-rupee conversion rates and superseding earlier notification.
Determination fixes foreign currency-to-Indian-rupee conversion rates for imported goods effective 1st August, 2006, exercising the Board's Customs Act powers and superseding the immediately prior notification; rates are set by reference to entries in two appended schedules, with Schedule I listing single-unit currency equivalents and Schedule II listing a multi-unit currency equivalent for customs valuation purposes.

Duty exemption for DTA supplies clarified: amendment recognises DTA supplies by Advance Authorisation and related scheme holders.
Amendment to the Foreign Trade Policy replaces paragraph 6.9(a) to state that supplies effected in the domestic tariff area (DTA) to holders of Advance Authorisation, Advance Authorisation for annual requirement, DFRC and DFIA made under the duty exemption/remission schemes or the EPCG scheme are covered by that paragraph, thereby clarifying the policy treatment of such DTA supplies by authorised beneficiaries.