Eligible project designation under Section 35AC extended, maintaining tax-benefit eligibility pending fund utilisation.
Notification designates the "School Adoption Scheme and Balwadi Project at Mumbai, Maharashtra" by The Bombay Community Public Trust as an eligible project under Section 35AC for a further three-year period commencing 2015-16, following the National Committee's recommendation that the project is being executed properly; further extension will be considered only after funds raised have been utilised, and the approved project cost remains unchanged.

Section 35AC specification extends eligible project status for Society for Education of the Crippled for a further multi-year period.
The Central Government specifies furnishing and running of the Society for Education of the Crippled Centre for Independent Living and the Antop Hill School by Society for Education of the Crippled (Child and Adult), Bombay, as an eligible project for tax incentive purposes for a further three financial years commencing with the financial year 2015-16, with the approved project cost remaining unchanged; extension followed National Committee recommendation and further extension is contingent on utilization of raised funds.

Deduction under section 35AC increases eligible project cost for Tara Sansthan's eye hospital extension, enabling greater qualifying expenditure.
The Central Government has amended a prior notification to increase the approved maximum cost of the scheme "Extension of Eye Hospital, Research and Rehabilitation Centre" carried out by Tara Sansthan, Udaipur, substituting the earlier notified project cost with a revised higher amount while retaining the corpus fund component, pursuant to a recommendation by the National Committee for Promotion of Social and Economic Welfare and the powers under the Explanation to the relevant income-tax provision.

Section 35AC Eligible Project Extension: Manavseva Crusade against Childhood Blindness extended for three financial years.
The Central Government, acting under Section 35AC and on the National Committee's recommendation, notifies extension of the "Manavseva Crusade against Childhood Blindness" by Manavseva Lokkalyan Mahasangh as an eligible project for three further financial years beginning 2015-16, with no change to the approved project cost.

Section 35AC extension of an eligible special education project for spastic children maintains approved cost and tax-eligible status.
The Central Government authorised continuation of the notified scheme for equipment, furnishing and running of a special education centre for spastic children carried out by The Spastics Society of Tamil Nadu for a further three-year period commencing with the 2015-16 financial year, without any change to the previously approved project cost, following the National Committee's recommendation under the relevant rules certifying proper execution.

Section 35AC extension of eligible social welfare project approved for a further three-year period under existing cost terms.
The Central Government, under powers conferred by the Income-tax Act, has notified an extension of the eligible project "Maintenance of Present activities and strengthening infrastructure for future requirements" carried out by Freedom Fighter Maulana Hussain Ahmad Madani Educational Trust, Deoband, District Saharanpur, Uttar Pradesh, for a further three-year period commencing with financial year 2015-16, on the National Committee's recommendation, without changing the approved cost of Rs. 12.95 Crore including a corpus fund of Rs. 3 crore.

Section 35AC tax incentive extended for a rural development project, renewing eligibility after committee recommendation and cost confirmation.
Section 35AC notification re-notifies Anuvrat Gram Bharti Sansthan's rural development project in Vinaypuram, Bhilwara as an eligible scheme, describing construction and outfitting of educational and welfare facilities and ancillary transport and equipment. The notification records prior approvals and cost enhancement, notes the National Committee's recommendation under the Income-tax Rules, and extends the project's eligibility for a further three-year period beginning with financial year 2015-16 without change to the approved cost, subject to the Act's conditions.

Tax deduction under Section 35AC: educational project by Shri Ugam Education Trust extended for three further years.
The Central Government has notified the "Educational Development Project & corpus fund" run by Shri Ugam Education Trust as an eligible project under Section 35AC for a further three-year period commencing with financial year 2015-16, maintaining the previously approved project cost and corpus fund unchanged, following the National Committee's recommendation that the project is being properly executed.

Section 35AC extension: eligible charitable health scheme granted a two-year extension while approved cost remains unchanged.
The Central Government has re-notified the "Integrated Community Health Programmes, Medical Camps & Eye Camps for poor peoples & students" carried out by Lions Club Care Foundation Charitable Trust as an eligible project for expenditure treatment under Section 35AC, extending approval for a further two-year period beginning with the stated financial year while keeping the previously approved project cost unchanged, following a recommendation by the National Committee under the procedural rule for extension.

Tax exemption under Section 35AC extended for Tomorrow's Foundation project, certificate not issued for the lapsed financial year.
The Central Government re-notifies the Tomorrow's Foundation scheme "Support towards meeting running expenses for Charaibeti project (special Education on Wheel)" as an eligible project under the Income-tax Act for a further three-year period commencing with financial year 2014-15 at the previously approved cost, following a recommendation by the National Committee; no certificate will be issued for the lapsed financial year 2014-15.

Section 35AC eligible project designation renewed, extending tax incentive eligibility for the Hojai hospital project pending fund utilization.
Specification under Section 35AC designates the Hojai Hospital and Research Centre project by Haji Abdul Majid Memorial Public Trust as an eligible project for a further three financial years beginning 2015 16, without change to the approved project cost, following the National Committee's recommendation and subject to consideration of any subsequent extension only after utilization of raised funds.

Security receipts permitted for non-resident investment when issued by securitisation companies under prescribed regulatory conditions.
Amendment inserts security receipts issued by securitisation companies into Schedule 5 of the FEMA regulations as eligible for transfer or issue to persons resident outside India, conditional on meeting requirements specified by the regulatory authorities; the change is effected across multiple paragraphs of Schedule 5 and takes effect on Gazette publication.

Exchange rate determination under customs law sets conversion rates for imports and exports effective on specified date.
Determination of exchange rates under section 14 of the Customs Act effective 18th December, 2015, superseding an earlier notification except as to past actions, and prescribing conversion rates for specified foreign currencies for the purpose of imported and export goods, set out in Schedule I (per unit rates) and Schedule II (per hundred unit rates).

De-notification of SEZ land reduces notified area after statutory approval under SEZ Act and Rules.
The Central Government, under the Special Economic Zones Act and Rules, has de-notified 6.37 hectares of the sector-specific IT/ITES SEZ at Visakhapatnam following the developer's proposal, the State Government's no-objection, and the Development Commissioner's recommendation, resulting in a reduced notified area and reflecting satisfaction that statutory requirements were met.

Payments to non-residents require Form 15CA/15CB filing, electronic verification and quarterly Form 15CC by authorised dealers.
The substituted rule 37BB requires the person responsible for paying sums to non-residents or foreign companies to furnish information in Parts A-D of Form 15CA depending on taxability and amount, with Parts B and C conditioned on obtaining respectively an Assessing Officer's order/certificate or an accountant's certificate in Form 15CB; certain non-taxable remittances are exempted from filing where RBI approval is not required or the payment falls within a specified purpose-code list. Form 15CB must be furnished and verified electronically.

Basic Excise Duty increase on petrol and diesel via notification substituting higher per litre rates, effective from stated date.
The Central Government, under section 5A of the Central Excise Act, 1944, amends Notification No.12/2012-Central Excise by substituting higher per litre Basic Excise Duty entries for specified items covering branded and unbranded petrol and diesel in the notification's table. The amendment is issued as Notification No.46/2015-Central Excise and takes effect from 17th December, 2015.

Duty free import for diamond certification: HRD Diamond Institute permitted to import for grading and re export under FTP conditions.
M/s HRD Diamond Institute Private Limited is inserted in Para 4.42 of FTP 2015-20 as an authorized agency permitted to import diamonds duty free for certification/grading and subsequent re-export, under the authority of Section 5 of the FTDR Act and Para 1.02 of FTP, and subject to paragraph 4.75 of the Handbook of Procedures 2015-20 and other applicable law.

Import policy change for reconditioned aircraft parts removes DGCA recommendation requirement and allows free import.
Imports of parts of goods of headings 8801 and 8802, including propellers, rotors, undercarriages and other aircraft parts, are free for import and expressly include reconditioned and second hand aircraft parts. The amendment removes the prior procedural requirement that a recommendation from the aviation safety regulator be obtained for licence free import, thereby allowing reconditioned/second hand parts to be imported freely under the Handbook of Procedures without that prior recommendation.

Designation of reporting agencies: notification adds National Intelligence Grid and Central Vigilance Commission as PMLA disclosure recipients.
Amendment expands the class of entities authorised to receive disclosures under the Prevention of Money laundering Act, 2002 by inserting the National Intelligence Grid and the Central Vigilance Commission into the list of designated recipients in an existing Ministry of Finance notification made under clause (ii) of section 66.

Hazardous goods notification: Fireworks added to Customs Schedule under central government powers, prompting special storage controls.
The Central Government, invoking its statutory powers under the Customs Act, amends the Schedule to the principal Customs notification by inserting a new entry naming fireworks, citing their hazardous nature and constraints of storage space as the basis for the regulatory addition.