Customs exemption rates amended to a uniform rate for specified tariff entries under the amended notification.
Exercise of powers under section 25(1) of the Customs Act, 1962 amends Notification No.21/2002-Customs by substituting the entry in column (4) of the Table for specified serial entries: S.No.344 (item No.(1)), S.No.344A, and S.No.345 (item No.(1)), replacing those column (4) entries with a uniform specified rate, effected by Notification No.18/2004 (F.No.349/1/2004-TRU).

Customs exemption rates limit import duty on specified upholstery and other fabrics to stated ad valorem or minimum specific charges.
Notification limits customs duty on specified textile tariff entries by exempting imported goods from duty in excess of a prescribed ad valorem rate of twenty percent or, where stated, a specified minimum specific amount per kilogram or per square metre, as set out in the Table, distinguishing upholstery fabrics from other fabrics.

Approval under Section 35(1)(ii) conditions research accounting, annual returns, audited submissions and renewal application obligations.
Approval is granted to M/s Indian Institute of Science under Section 35(1)(ii) as a "University" for the specified period, subject to maintaining separate research accounts, filing an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited income and expenditure accounts for research activities to designated income-tax and scientific authorities by 31 October, in addition to filing the return of income. Renewal applications must be made in triplicate through the tax exemptions office and sent to the Secretary, Department of Scientific and Industrial Research.

Research exemption under Section 35(1)(ii) requires institutions to maintain separate accounts and file annual research returns.
M/s World Wide Fund for Nature - India is approved as an Institution under Section 35(1)(ii) for the notified period subject to conditions: maintain separate books for research activities; file an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31st May each year; and submit audited annual accounts and audited income & expenditure accounts for the research activities to the Director General of Income-tax (Exemptions), the Secretary, Department of Scientific & Industrial Research, and the relevant Commissioner/Director of Income-tax (Exemptions) by 31st October each year.

Exemption for pensioners: first proviso to Section 139 does not apply where only pension income and no business activity occurred.
The Central Government specifies that the first proviso to Sub-section (1) of Section 139 does not apply to individuals who have income from pension and are not engaged in any business or profession during the previous year, thereby exempting this class of pensioner taxpayers from that proviso under authority of the second proviso to Sub-section (1).

Approval guidelines for eligible business set Form 56E application, document, audit and withdrawal procedures under tax rules.
Prescribes procedural guidelines for approval under clause (23G) of section 10: applications in Form No.56E must include corporate constitution evidence, approved project documentation and up to three years' financial statements (with a limited exception for recently formed enterprises). The Central Government may call for further documents or enquiries, must decide in writing and provide an opportunity of being heard before refusing approval. Approved enterprises must maintain books, obtain an accountant's audit and furnish the audit report to the Chief Commissioner by the return filing due date; specified defaults trigger reporting and may lead to withdrawal of approval after affording a hearing.

Return filing through employer permitted, with employer's submission treated as the employee's filing under tax law.
The notification creates an optional Scheme permitting qualifying salaried resident individuals to have their returns filed by their employer: the employee verifies and signs Form No. 16AA and submits it to the employer by the due date; the employer files the return in Form No. 16AA with the Assessing Officer, obtains and distributes acknowledgements, and must file by the prescribed due date; the date of the employer's filing is treated as the date of furnishing the return by the employee.

TDS on salaries: new Form 16AA allows limited income resident salaried taxpayers to file return and obtain employer certificate.
The amendment adds a proviso allowing a resident individual whose total income comprises only salary and whose salary before section 16 deductions falls within a prescribed limited amount, and who has no other income subject to TDS by persons other than the employer, to elect to file the return in Form No. 16AA. A parallel proviso requires that the certificate of tax deduction in such cases be issued in Form No. 16AA; the form is inserted in Appendix II and combines the TDS certificate with the return, capturing salary particulars, deductions, tax computation and verification.

Collections under section 206C: specified goods categories and codes for TCS reporting in Form No.49B.
Amendment substitutes item 8 in Form No.49B of Appendix-II to the Income-tax Rules, 1962 to specify Tax Collection at Source (TCS) categories and corresponding internal codes for collections under section 206C, listing alcoholic liquor for human consumption, timber under lease, timber otherwise obtained, other forest produce (not timber), and scrap for Form No.49B reporting.

Certificate of no deduction of tax at source permits eligible charitable and approved institutions to receive payments without TDS.
A new rule allows eligible charitable, religious and specified approved institutions to apply to the Assessing Officer for a certificate authorizing receipt of income without deduction of tax at source, subject to conditions: all due returns filed, current approval for tax exemption, and submission of six monthly lists of deductors; the Assessing Officer may grant, cancel, or restrict the certificate based on satisfaction of conditions and protection of revenue, with certificates valid for the stated financial year.

Rebate under Chapter VIII-A reflected in revised Form 16 to adjust tax payable and TDS particulars.
The rules substitute items 13-19 in Form 16 to require itemised disclosure of rebates under Chapter VIII-A and other rebate categories, an aggregate rebate total, tax payable after rebate and surcharge, relief entries affecting tax computation, final tax payable, and the breakdown of tax credits showing tax deducted at source and tax paid by the employer on perquisites, producing a net tax payable or refundable. The amendment takes effect on publication in the Official Gazette.

Concessional loan valuation ties taxable perquisite interest to State Bank of India annual lending rate as of relevant year start.
The amendment to Rule 3(7)(i) of the Income-tax Rules, 1962 prescribes that the deemed interest on a concessional loan to an employee or household member shall be determined as the interest computed at the rate charged per annum by the State Bank of India for loans for the same purpose as on the first day of the relevant previous year, replacing the prior wording referencing a fixed concessional/other loan rate.

Corrigendum to customs notification inserts Chandigarh and Jammu and Kashmir into specified exemption listings.
The corrigendum to Notification No. 3/2004-Customs (N.T.) amends specified exemption entries by inserting "Chandigarh" before "Jalandhar" in column (3) of Sl. No. 2 and inserting "Jammu and Kashmir" after "Central Excise" in column (3) of Sl. No. 31, thereby altering the territorial scope of those exemption listings under the principal notification framework.

Research exemption approval requires separate research accounts, annual DSIR return by May and audited submissions by October.
Approval under Section 35(1)(ii) has been granted to M/s Iladevi Cataract & Infra Ocular Lens Research Centre for the period 2.9.2000 to 31.3.2003, subject to conditions: maintain separate books for research; file annual scientific research return to the Secretary, DSIR by 31 May; and submit audited annual accounts and audited Income & Expenditure Account for research activities to DGIT(Exemptions), Secretary DSIR and Commissioner/Director of Income Tax (Exemptions) by 31 October, in addition to the return of income. Renewal applications must be filed in triplicate through the tax authority and copies sent to the Secretary, DSIR.

Corrigendum to Customs notification: inserts Chandigarh and Jammu and Kashmir into specified column entries affecting territorial listings.
Corrigendum to No.3/2004-Customs (N.T.) directs insertion of "Chandigarh" before "Jalandhar" in column (3) of Sl. No. 2 and insertion of "Jammu and Kashmir" after "Central Excise" in column (3) of Sl. No. 31; amendments relate to the Gazette publication and reference the principal notification No. 14/2002-Customs (N.T.) and prior amendment by notification No. 3/2004-Customs (N.T.).

Supersession extended: governing board remains under administrator to complete elections and demutualisation and corporatisation processes.
The regulatory authority extends the period of supersession of the Governing Board for a further six months and directs that the incumbent Administrator shall continue to exercise and perform all powers and duties of the Governing Board to allow completion of corrective measures, the election process for a new Governing Board, and the processes of demutualisation and corporatisation.

Water supply projects designated as project imports with district collector as sponsoring authority, effective 9 January 2004.
Adds a new Table entry to the Project Import Regulations designating Water Supply Projects as project imports and naming the Collector/District Magistrate/Deputy Commissioner of the district in which the project is located as the Sponsoring Authority.

Water Supply Projects defined to include desalination and purification, qualifying for customs project import exemptions upon notification commencement.
Inserts Water Supply Projects into the customs miscellaneous exemption notification under the project import framework, defining such projects to include plants for desalination, demineralization, purification or similar processes intended to make water fit for agricultural or industrial use, and specifies commencement immediately after issuance.

Customs duty exemption for water supply projects removes customs and additional duty for agricultural and industrial water infrastructure.
Exemption removes customs duty and additional duty under the Customs Tariff Act for water supply projects classified under the relevant tariff heading, with Water Supply Project defined to include water pumping stations, storage reservoirs and water treatment plants for desalination, demineralization, purification or similar processes intended to make water fit for agricultural or industrial use.

Import duty relief for transfer of residence: selected household goods fully exempted and reduced duty applies to specified others.
The amendment creates TABLE I and TABLE II for transfer of residence imports: goods in TABLE I are exempt from the whole duty under the First Schedule, while for goods in TABLE II duty is leviable only insofar as it exceeds an amount calculated at a reduced ad valorem rate; the annexed tables listing the eligible items are replaced and the notification commences in January 2004.