Tax exemption under section 35AC extended for rural medical centre project following committee recommendation and prior approvals.
The Central Government specifies continuation of tax-exempt status under section 35AC for the Construction, equipments, furnishing and running of Smt. Lakshmi Shah Rural Medical and Research Centre by Smt. Lakshmi and Shri Janki Lal Shah Foundation for a further three years commencing with the financial year 2004-2005. This extension follows the National Committee's recommendation under rule 11M(5) of the Income-tax Rules that the project is being executed properly and is granted without change to the approved project cost of Rs. 200.00 lakhs.

Tax exemption for specified projects: eligible education and training scheme extended and project cost ceiling increased.
The Central Government re specifies the Craft Council of India's scheme for running fifteen non formal education cum ari embroidery training centres near Sriperumbudur, Kancheepuram District, Tamil Nadu as an eligible project for a further three years from the financial year 2004-2005, following a National Committee recommendation that the project is being properly executed; the prior notification is amended to increase the maximum project cost allowed for deduction by substituting the revised cost figure in the notification's Table.

Exemption under section 35AC extended for Navajyoti Centre project, preserving approved cost and continued eligibility for tax relief.
The Central Government specifies the construction, equipment, furnishing and corpus fund for the Navajyoti Centre for Mentally Handicapped by the Association for Advancement and Rehabilitation of Handicapped as an eligible project under the tax exemption provision, adopting the National Committee's recommendation and preserving the previously approved total cost, for a further three-year period commencing with the stated financial year.

Exemption under section 35AC extended for specified blind-services projects, reaffirming eligible schemes and approved funding terms.
The Central Government specifies, under 35AC, continued eligibility for exemption of projects addressing blindness and education-education of blind children alongside sighted children; braille press and computerised braille production; prevention of glaucoma-related blindness; an all-India talking book centre; and services for multi-disabled blind children-carried out by the National Association for the Blind in Mumbai, for a further three years from the financial year 2004-2005, with no change to the approved project cost and corpus fund, following recommendation of the National Committee for Promotion of Social and Economic Welfare.

Exemption under section 35AC: project for homeless shelters extended as eligible for a further three-year period.
Central Government specified the scheme carried out by Mother Krishnabai Rural Development Trust for construction of shelters for the homeless, wells, lavatories and assistance to other institutions at Kasargod District, Kerala and other parts of the country as an eligible project for tax exemption under the income-tax provision. The approved cost was Rs. 130.00 lakhs, and on recommendation of the National Committee the scheme was specified for a further three-year period commencing from the financial year 2004-2005 without change in the approved cost.

Exemption under section 35AC extended for specified charitable project; continued eligibility for tax benefits under notification.
The Central Government specifies continuation of eligible project status for Vikas's Purchase of Machinery and construction for Vridhashram and an industrial shed at Village Kolavada, following the National Committee's recommendation that the project is being executed properly. The extension is for a further three years commencing from the financial year 2004-2005 and is granted without any change in the previously approved project cost, thereby preserving the project's entitlement to income-tax exemption under the statutory provision.

Exemption under section 35AC extended for vocational training centre project; eligibility renewed without change to approved project cost.
The Central Government specifies the scheme for construction, equipment, furnishing and running of the vocational training centre at Andheri by The Bombay Young Men's Christian Association as an eligible project for a further three-year period commencing from the financial year 2003-2004, under the Income-tax Act and on the National Committee's recommendation, without any change in the previously approved project cost.

Exemption under section 35AC: eligible hospital upgrade project extended, preserving prior approved cost and eligibility.
The Central Government, under the Explanation to section 35AC, specifies the Smt. Sharda Jhatakia Memorial Trust's project to upgrade an eye hospital with additional medical units as an eligible project for tax exemption and, following the National Committee's recommendation that the project is being executed properly, extends that specification for a further two years from the financial year 2004-2005 without change to the approved project cost.

Exemption under section 35AC for specified charitable hospital project extended, preserving donor tax deduction eligibility.
The Central Government has specified the Poona Blind Men's Association's 50-bed eye hospital at Mohammedwadi, Pune, as an eligible project or scheme under section 35AC, following the National Committee's recommendation under rule 11M(5) that the project is being executed properly. The government re-specifies the project for a further three-year period commencing in the stated financial year without any change to the approved cost, exercising powers under subsection (1) read with the Explanation to section 35AC.

Section 35AC deductions approved for specified charitable projects, allowing eligible cost deductions across three financial years.
Central Government approved specified institutions and their eligible projects for deduction under section 35AC, listing each project with its estimated cost and the maximum amount allowable as a deduction, and confined the approval and deductible amounts to the financial years 2004-05, 2005-06 and 2006-07 only.

Anti-dumping duty on mica pearl pigment imposed; importers face specified per-unit charges payable in Indian currency.
Imposition of anti-dumping duty on mica pearl pigment excluding cosmetic and automotive grade, based on designated authority findings of dumping, material injury and causation, with specified per unit duty rates differentiated by country of origin, producer and exporter. Duties are payable in Indian currency; the rate of exchange for conversion is as notified by the Ministry of Finance and the relevant date is the bill of entry presentation.

Special Economic Zone notification designating land at Salt Lake Electronic City for software and IT services.
The Central Government notifies designated parcels at Salt Lake Electronic City, Kolkata as a Special Economic Zone for Software Development and IT Enabled Services allocated to M/s. WIPRO Limited, specifying site, plot, block and sector identifiers and recording a combined area of around sixteen acres across two sites, thereby defining the SEZ's territorial boundaries for regulatory and administrative application.

Import quantity revision for construction aggregates under the foreign trade policy adjusts authorised supply limits.
Under powers of the Foreign Trade (Development & Regulation) Act, 1992 and paras 2.1 and 2.29 of the Foreign Trade Policy, 2004-2009, the Central Government amends a prior notification to revise authorised quantities for Stone Aggregate and River Sand, stating the amendment is issued in the public interest and effected by formal notification under the FTP framework.

Liberalisation of non-resident share transfers: prior approval removed where pricing, documentation and reporting conditions are met.
The amendment permits transfers or issues of shares and convertible debentures by persons resident outside India without prior Government or Reserve Bank approval where the seller is not an erstwhile OCB and the Indian company is not engaged in financial services; such transfers must not fall under SEBI takeover rules and must comply with Reserve Bank pricing, documentation and reporting requirements, with financial services defined to include entities regulated by banking, insurance and other financial regulators.

Foreign investment caps revised: petroleum and pipeline sectors opened subject to policy; domestic airline equity is restricted.
Amendments add Natural Gas/LNG Pipelines to Schedule 1 Annexure A and expand Annexure B to permit full foreign investment in petroleum product marketing, oil exploration in small and medium fields, and petroleum product pipelines subject to existing government policy and sectoral regulations; air transport services for domestic airlines are treated differently for nonresident Indians and other foreign investors, with foreign airlines prohibited from direct or indirect equity participation.

Tax exemption under section 10(23G) granted for Hazira Port project, subject to compliance and possible withdrawal for breach.
Approval granted to Hazira Port Pvt Ltd for tax-exempt status under section 10(23G) read with rule 2E for development, maintenance and operation of Hazira port under the concession agreement dated 22.04.2002, for the period 22.04.2002 to 21.04.2032. The Central Government may withdraw approval if the company ceases to comply with section 10(23G) and rule 2E, ceases the eligible business, fails to maintain and audit books of account as required by sub rule (6) of rule 2E, or fails to furnish the mandated audit report.

Approval under Section 35(1)(iii) enables research expenditure benefits subject to audit, reporting, and separate accounts.
Approval under Section 35(1)(iii) is granted to Rajiv Gandhi Foundation for the period 1 April 2003 to 31 March 2006 as an Institution, subject to conditions: maintain separate accounts for research activities (unless categorized as an Association); submit audited Income & Expenditure accounts for approved research to the Director General of Income Tax (Exemptions) and the Commissioner/Director of Income Tax (Exemptions) having jurisdiction and file with the designated assessing officer; and enclose an auditor's certificate confirming expenditures are for social science/statistical research.

Tax exemption approval under section 10(23G) renewed, subject to eligible business continuity, audited accounts and compliance conditions.
Approval under section 10(23G) is renewed for M/s Hutchison, Telecom East Limited for its cellular mobile project in Kolkata, effective for assessment years 2002-03 to 2015-16, subject to compliance with rule 2E, maintenance and audit of books, furnishing of the audit report, and the Central Government's power to withdraw approval on cessation of eligible business or failure to comply; investments before 1 June 1998 are excluded from this notification.

Tax exemption notification under clause 23C(iv) recognises Shri Ram Chander Mission subject to specified charitable and compliance conditions.
Notification designates Shri Ram Chander Mission as eligible under clause (23C)(iv) of section 10 for assessment years 2005-2006 to 2007-2008, conditional on applying or accumulating income exclusively for its charitable objects, restricting investments to forms permitted by the Act, treating business income as exempt only if incidental with separate books, regular filing of income-tax returns, and transfer of surplus and assets on dissolution to a like charitable organisation.

Tax exemption notification for a charitable body subject to exclusive application of income and specified compliance conditions.
Notification designates Harijan Sevak Sangh, Kingsway, Delhi as eligible under clause (23C)(iv) of section 10 for assessment years 2003-2004 to 2005-2006, subject to conditions: income must be applied wholly and exclusively to stated objects; investments or deposits (except certain voluntary contributions held as jewellery or furniture) are restricted to forms specified in subsection (5) of section 11; business income is excluded unless incidental with separate books; regular filing of income-tax returns is required; on dissolution, surplus assets must transfer to a like charitable organisation.