Senior Citizens Welfare Fund: unclaimed public savings redirected to finance approved welfare schemes for elderly support.
Establishes the Senior Citizens Welfare Fund as an interest-bearing public account receiving unclaimed amounts from specified small savings, PPF and EPF accounts; institutions must identify, notify and transfer unclaimed deposits annually on a net basis, after attempting contact and public notice. The Ministry of Social Justice and Empowerment is nodal and Secretariat host; a multi-ministry Committee administers the Fund, decides utilisation, submits budgetary requirements and meets at least twice yearly. The Fund finances approved schemes for financial security, healthcare, housing, education and research for senior citizens, with interest set annually by the Ministry of Finance and annual reporting required.

Statement of Financial Transactions inclusion expands reporting obligations to complement annual information returns for specified financial transactions.
The amendment adds Statement of Financial Transactions alongside Annual Information Return, substituting "return" with "return or statement" across specified sub rules and provisos, revising administrative designations to include the statement, and updating Form No.61A to the same effect; the rule is deemed effective from 1 April 2015 and applicable to the specified financial transactions for the stated financial period.

De-notification of SEZ land under the Special Economic Zones Act reduces notified area and releases specified survey parcels.
The Central Government, satisfied that statutory prerequisites were fulfilled, de-notified specified survey parcels from a sector-specific Special Economic Zone at SIPCOT Industrial Area, Sriperumbudur under the Special Economic Zones Act and rules. The proposal by the State Industries Promotion Corporation of Tamil Nadu was supported by the State Government's no-objection and the Development Commissioner's recommendation; the notification lists the individual survey parcels released and records the revised aggregate SEZ area after deletion.

Rate of exchange determination sets specified foreign currency conversion rates for import and export valuation under customs law.
The Central Board of Excise and Customs, invoking its Customs Act powers, determines with effect from 18th March, 2016 the conversion rates of specified foreign currencies into Indian rupees for customs valuation of imported and export goods. Rates are set out in two schedules: Schedule I (per unit rates with distinct figures for imported and export goods) and Schedule II (rates per 100 units), and the notification supersedes the earlier notification except as to past actions; a subsequent note records a substitution to the South African Rand entry.

Period of holding for converted securities includes prior bond or debenture holding, affecting capital gains characterisation.
The rule prescribes that where a capital asset in the form of a share or debenture becomes the assessee's property by reason of the specified transfer, the period of holding of that capital asset shall include the period for which the bond, debenture, debenture stock or deposit certificate was held by the assessee prior to conversion.

Foreign investment ceiling allowed on automatic route with regulatory verification for insurance companies, subject to Gazette commencement.
The amendment permits foreign investment up to forty-nine per cent of total paid up equity in an Indian insurance company on the automatic route, subject to verification by the Insurance Regulatory and Development Authority of India, and omits the prior rule 6, with the notification taking effect on publication in the Official Gazette.

Designation of Land Customs Station expands notified points to permit unloading of imports and loading of exports at Kashipur.
The notification amends the principal customs schedule by inserting Kashipur District U.S. Nagar against Uttarakhand as a notified Land Customs Station/Inland Container Depot to permit the unloading of imported goods and loading of export goods, thereby expanding the locations authorized for cross-border cargo handling under the principal customs notification.

Permanent establishment rules and tax allocation under India-Indonesia treaty define taxing rights and eliminate double taxation.
The Agreement allocates taxing rights between India and Indonesia to eliminate double taxation and prevent fiscal evasion by residents, defining residency tie breakers and a broad concept of permanent establishment with time thresholds and agency rules. Business profits attributable to a PE are taxable in the source State on an arm's length basis; dividends, interest, royalties and fees for technical services are subject to limited source taxation with specified exemptions and effective connection carve outs. Administrative provisions establish mutual agreement, exchange of information, confidentiality limits, and assistance in collection, together with anti avoidance and non discrimination safeguards.

Tax exemption for notified authority: specified incomes of National Biodiversity Authority exempt subject to non commerciality and compliance.
Notification under clause (46) of section 10 notifies the National Biodiversity Authority for specified incomes: grants in aid from the Government of India; interest; benefit sharing fees and royalties; and penalties and application fees. The notification is conditional on the Authority not engaging in commercial activity, maintaining unchanged activities and nature of specified income across financial years, and filing returns as required by clause (g) of sub section (4C) of section 139; it is effective for the period 01.06.2011-31.03.2012 and financial years 2012 13 to 2015 16.

Tax exemption under Section 10(46) covers specified Board income subject to non-commerciality and filing conditions.
The Karnataka Urban Water Supply and Drainage Board is notified as eligible for exemption under Section 10(46) for specified incomes: establishment and supervision charges prescribed by the Karnataka Public Works Department Accounts Code; water charges from local bodies and consumers; interest on investments and fixed deposits; rent from letting 'JAL BHAWAN'; and forfeited earnest money. The exemption is conditional on the Board not engaging in commercial activity, maintaining unchanged activities and income character, and filing income-tax returns as required by clause (g) of sub-section (4C) of section 139.

Special Economic Zone designation for IT/ITES establishes approval committee and grants inland container depot status enabling SEZ operations.
Notification designates a 6.5 hectare Sector Specific Special Economic Zone for information technology and IT-enabled services at Ghansoli, Navi Mumbai, pursuant to approval under section 3 of the SEZ Act. The Central Government notifies the listed survey parcels under section 4 and rule 8, constitutes an Approval Committee under section 13 for purposes of section 14 with specified ex officio members and a developer special invitee, and appoints 15 March 2016 as the date the SEZ is deemed an Inland Container Depot under section 7 of the Customs Act.

Section 35AC deduction: approval of specified charitable projects for deduction over a three year approval period; CSR funds excluded.
Central Government notification authorises specified non profit institutions, on the National Committee's recommendation, as eligible for income tax deduction treatment for donations to their listed projects; for each entry the Table specifies the eligible project or scheme, the project's estimated cost and the maximum amount of that cost that may be allowed as a deduction. Approvals are time limited to a consecutive three year approval period, and contributions governed by the corporate social responsibility statutory schedule are expressly excluded from the deduction.

Withdrawal of recognition for a stock exchange after failure to corporatise and demutualise within the statutory timeframe.
Withdrawal of recognition is effected because the Delhi Stock Exchange Limited failed to complete corporatisation and demutualisation within the prescribed timeframe under the notified corporatisation and demutualisation scheme, thereby invoking sub section (2) of section 5 of the Securities Contracts (Regulation) Act, 1956 and resulting in a Central Government notification withdrawing the recognition previously granted under section 4.

Safeguard duty recommendation after finding increased imports caused serious injury, with phased measures and limited country exclusions.
The Authority found that imports of hot rolled flat steel coils had increased sharply during the investigation period and that there was a causal link between the surge in imports and the deterioration of domestic industry indicators, constituting serious injury or threat thereof. Having considered extensive submissions on scope, procedure, unforeseen developments, and public interest, and having accepted adjustment plans from domestic producers, the Authority recommended phased safeguard duties on specified tariff headings over a multi year period with exclusions for developing countries whose import shares fall below the relevant thresholds.

Return Filing Obligation: Form CR-II for specified VAT quarters must be filed by the prescribed deadline.
The Commissioner directs that returns in Form CR-II for the first three quarters of the financial year must be filed by the prescribed deadline; this partially modifies earlier notifications while leaving their remaining provisions unchanged and takes effect immediately.

Return filing requirement: Form GE-II returns for specified quarters must be filed by the prescribed deadline under Delhi VAT.
The Commissioner directs that returns in Form GE-II for the three specified quarters of the 2015-16 financial year must be filed by the prescribed deadline, constituting a partial modification of an earlier notification and taking immediate effect.

Commencement amendment to concessional import rules removes security requirement and aligns references to updated rules.
Amends the Customs (Import of Goods at Concessional Rate of Duty for Manufacture of Excisable Goods) Rules, 2016 by fixing commencement as the 16th day of March, 2016, omitting the words "or security" from rule 5(2) thereby removing the security submission requirement for concessional import benefits, and inserting rule 9 to direct that references to the 1996 rules in existing instruments shall be construed as references to the 2016 Rules and corresponding provisions.

Tariff value fixation updated for specified commodities, replacing prior tables and setting unit values in US dollars.
The Central Board of Excise & Customs amends the principal customs notification by substituting TABLE-1, TABLE-2 and TABLE-3 to fix tariff values in US dollars as import valuation benchmarks. The substituted tables prescribe per-metric-tonne values for edible oils, brass scrap, poppy seeds and areca nut, and unit values for gold (per ten grams) and silver (per kilogram).

Concessional duty removal: commencement fixed and security requirement abolished for availing concessional removal benefits under the Rules.
The amendment fixes the commencement of the 2016 Rules as 16th March, 2016 and removes the requirement of providing "or security" in rule 4(5), eliminating the security obligation for availing concessional removal of goods. It also inserts a new rule directing that any reference to the 2001 Rules in subordinate instruments be read as a reference to the 2016 Rules and corresponding provisions.

Offshore fund manager regime clarified: eligibility, arm's length remuneration, documentation and approval under new rules determine tax benefits.
Rules for the offshore fund manager regime under section 9A prescribe look-through treatment for institutional investors meeting conditions, due diligence and declaration processes to ascertain Indian participation, and limited grace periods for temporary non-fulfilment of eligibility conditions. Remuneration to fund managers is treated as an international transaction between associated enterprises for arm's-length determination; fund managers must maintain transfer pricing documentation, obtain an accountant's report in Form 3CEJ and furnish annual statements electronically in Form 3CEK. A Board approval process and conditions for withdrawal of approval are provided.