Tax incentive eligibility extended for hospital project; designated eligible for a further multi-year period by government notification.
The hospital project by Sevasangh Sarvajanik Hospital Trust, Modasa, Gujarat, is notified as an eligible project for tax incentive purposes for a further three-year period commencing with financial year 2012-13, extended on the recommendation that the project is being executed properly; the extension is granted without any change to the approved project cost, including the corpus fund allocation.

Section 35AC eligibility expanded for a Shri Vedmata Gayatri Trust project; project cost ceiling increased and period extended.
Notification under Section 35AC designates the Shri Vedmata Gayatri Trust project at Shantikunj, Haridwar as an eligible scheme for a three-year period beginning with financial year 2011-12, covering construction, equipment purchase and programmes in healthcare and education, and amends the previously notified project cost upward while preserving the specified corpus fund amount for the purposes of deduction under the Income-tax Act.

Project eligibility under section 35AC extended for mid-day meal scheme without change in approved cost allocation.
The Central Government, on recommendation of the National Committee for Promotion of Social and Economic Welfare, notifies extension of the eligible project or scheme status for the Mid-day meal project by Iskcon Food Relief Foundation for a further three-year period commencing 2011-12, expressly without any change to the approved project cost of Rs. 20.74 crore, under section 35AC read with the Explanation (b) and the Income-tax Rules.

Eligible project extension under section 35AC: PBMA's eye hospital retains notified eligibility for income-tax incentives after committee recommendation.
Notification under Section 35AC extends eligibility of "PBMA's Kantalaxmi Shah Eye Hospital" for income-tax incentives for a further three-year period commencing with financial year 2012-13, following the National Committee's recommendation and noting no change in the approved project cost.

Extension of eligible project status under Section 35AC: Janaseva Foundation's social welfare scheme extended for a further period.
The Central Government notifies that Janaseva Foundation's scheme for a rural senior citizens hub, renovation/extension of an old age home, and extension of an ophthalmic rural hospital is an eligible project under Section 35AC and is extended for a further three-year period commencing with financial year 2011-12, without any change in the approved cost of Rs. 2.00 crore.

Extension of Eligible Project under Section 35AC: treatment scheme for tribal health extended for three years and project cost increased.
The Central Government notifies the scheme "Treatment of Cancer, Kidney Failure (dialysis) and Eye diseases for Tribal" by Shantilal Shanghvi Foundation as an eligible project under Section 35AC for a further three years commencing with financial year 2012-13 (2012-13 to 2014-15) and, following the National Committee's recommendation, amends the earlier notification by increasing the maximum amount of cost to be allowed as deduction under section 35AC from Rs. 10.29 crore to Rs. 19.77 crore.

Section 35AC deduction extended for an eligible corpus fund project and the allowable project cost increased for tax deduction purposes.
The Central Government, acting under section 35AC and the Explanation thereto, notifies a further three-year extension of the eligible project "Building a general corpus fund for Helpage India's work" following the National Committee's recommendation, and amends the original notification to increase the maximum allowable corpus fund for deduction purposes by substituting the previously notified corpus fund amount with a higher corpus fund amount.

Section 35AC eligibility extended for Akshayapatra Mid-Day Meal program, and the project cost ceiling is increased.
The Central Government, invoking the Explanation to Section 35AC, notifies extension of the Akshayapatra Foundation's Mid Day Meal Program as an eligible project for a further three-year period commencing with the financial year 2012-13 and amends the earlier notification to increase the maximum project cost ceiling, following the National Committee's recommendation that the project is being properly executed.

Section 35AC eligibility expanded for BJS Educational Quality Improvement Project; period extended and project cost increased.
Notification designates BJS Educational Quality Improvement Project by Bhartiya Jain Sanghatana, Pune, as an eligible project for deduction under the Explanation to section 35AC for a three year period commencing with financial year 2011 12, and amends the previously notified maximum project cost upward to increase the allowable deduction for that eligibility period.

Income tax deduction eligibility expanded for livelihoods enhancement scheme by increasing the notified project cost ceiling.
The Central Government, under the Explanation to section 35AC of the Income-tax Act, re-notifies the "Livelihoods enhancement of Hardcore Rural & Poor" project of Population & Social Development as an eligible project and amends the earlier notification by substituting the previously stated maximum allowable project cost with a revised higher amount, expressly including a specified corpus fund, following the National Committee's recommendation that the project is being executed properly.

Section 35AC eligible project extension: Medical Camps by Empathy Foundation authorised for a further three-year period.
The Central Government, invoking powers under the Income-tax Act and following the National Committee's recommendation, notifies extension of the "Medical Camps" project by Empathy Foundation as an eligible project for a further three-year period commencing with the stated financial year, expressly maintaining the previously approved project cost unchanged.

Section 35AC project eligibility extended for Shri K.K. Shah Sabarkantha Arogya Mandal, renewed for further three-year period.
Notification re-notifies the project "Maintenance and running of Shri K.K. Shah Sabarkantha Arogya Mandal" as an eligible project under Section 35AC, extending its notified status for a further three-year period commencing with financial year 2012-13, without change to the approved project cost which includes an identified corpus fund, following the National Committee's recommendation and prior cost enhancement.

Hedging permissions: registered FIIs may use foreign currency rupee swaps and non resident traders may hedge rupee invoiced trade under RBI terms.
The Regulations add permissions in Schedule II allowing a registered FII to enter into foreign currency rupee swaps to hedge transient capital flows related to IPOs under ASBA, and permitting non resident importers/exporters to enter forward contracts with rupee as one currency or foreign currency rupee option contracts with an Authorised Dealer to hedge currency risk on rupee invoiced trade, each subject to terms and conditions prescribed by the Reserve Bank and deemed to commence retrospectively.

Approval under Section 10(23C)(vi) for an educational institution, subject to exclusive application of income and compliance conditions.
Approval is conferred on Little Flower Education Society as an educational institution subject to conditions: income must be applied or accumulated wholly and exclusively for educational purposes; activities must be confined to education; investments are limited to modes permitted for charitable funds (with certain exceptions for voluntary contributions in kind); business income is excluded unless incidental and separately accounted; regular income tax returns must be filed; on dissolution assets must vest in a similar charitable organisation; anonymous donations are excluded; approval remains in force until withdrawn.

Tariff value fixation updated for edible oils, brass scrap and specified precious metals, substituting prior tariff tables under statute.
Substitution of TABLE-1 and TABLE-2 in Notification No. 36/2001 Customs (N.T.) fixes tariff values in US dollars for specified imports. TABLE-1 lists per metric tonne tariff values for specified edible oils, brass scrap (all grades) and poppy seeds, with certain entries noted as unchanged. TABLE-2 lists tariff values for specified forms of gold and silver where a related notification benefit is availed, also noted as unchanged. The amendment is made under section 14(2) of the Customs Act, 1962 by the Central Board of Excise & Customs.

Section 10(23C) approval conditions educational-only use, restricted investments, separate books for incidental business, and dissolution rules.
Approval under section 10(23C)(vi) grants the institution tax-exempt recognition from assessment year 2011-12 onwards subject to conditions: income must be applied exclusively to educational purposes; investments limited to legally permitted forms; business income excluded unless incidental with separate books; regular filing of returns; surplus assets on dissolution to transfer to a similar charitable organisation; anonymous donations excluded; and the notification remains in force until withdrawn.

Sector-specific Special Economic Zone designation enables technology-services development, establishes approval oversight, and confers inland container depot treatment.
Sector-specific Special Economic Zone status is conferred for information technology and information technology-enabled services, including electronic hardware and business process outsourcing, on land aggregating 12.14 hectares. An Approval Committee, chaired by the Development Commissioner and comprising commerce, foreign-trade, customs, income-tax, banking, state-government and developer representation, is constituted for statutory SEZ functions. From 14 March 2012, the zone is deemed to be an Inland Container Depot for customs purposes.

Interest rate notification for Special Deposit Scheme affects deposits of non-government provident, superannuation and gratuity funds.
Deposits made under the Special Deposit Scheme for non-government provident, superannuation and gratuity funds shall, with effect from 1st December, 2011 and until further orders, bear interest at 8.6% per annum.

Approval under section 10(23C)(vi): trust must apply income exclusively to educational objects and meet specified compliance conditions.
Approval granted under section 10(23C)(vi) is conditional: activities must be genuine and confined to educational objects; income must be applied exclusively for those objects; capitation fees are prohibited; investments must be in permitted modes; business income is excluded unless incidental with separate accounts; anonymous donations are restricted; returns must be regularly filed; and surplus on dissolution must be transferred to a similar non-profit. Approval is limited to the specified exemption and may be withdrawn if procured by fraud or if conditions are breached.

Authorization to issue orders empowers Member (Central Excise) to enforce deterrent measures for CENVAT misutilisation.
Authorises the Member (Central Excise), Central Board of Excise and Customs to issue orders under notification No.5/2012 implementing deterrent measures where duty is paid wrongly or CENVAT credit is misutilised, pursuant to rule 12CCC of the Central Excise Rules and rule 12AAA of the CENVAT Credit Rules, and superseding the prior 2007 notification; the instrument notes its departmental file reference and signatory and was later rescinded.