Section 35AC project specification extends tax-eligible status of Basavanagudi swimming pool complex for three years.
The Central Government, under the Explanation to section 35AC, specifies the Basavanagudi Aquatic Centre's construction and running of a swimming pool complex with boarding and lodging and a modern gymnasium as an eligible project for tax-relief for a further three years commencing with financial year 2007-08, on the recommendation of the National Committee under rule 11M, without any change in the approved cost of Rs. 100.30 lakhs.

Tax exemption eligibility extended for integrated water and natural resources management project; specified for a further three-year period.
The Central Government specifies that the integrated project on Water and Natural Resources Management by Programme Support Unit Foundation, aimed at improving livelihoods of rural poor and forest fringe dwellers in Uttar Pradesh and West Bengal, continues to qualify as an eligible project under the Explanation to section 35AC for a further three-year period commencing 2007-08, without any change in the approved project cost including the corpus fund, following a committee recommendation confirming proper execution.

Tax deduction under section 35AC: eligible charitable housing scheme specified and extended with enlarged project scope.
The Central Government, under the Explanation to section 35AC, re-specifies Mata Amritanandamayi Charitable Trust's "Amrita Kuteeram" housing scheme as an eligible project for a further three years from financial year 2006-07, and amends the original notification by increasing the project scope from 5000 to 1,00,000 houses and raising the maximum cost allowed as deduction to a revised higher ceiling.

Deduction under Section 35AC: government approved social welfare projects specified with capped allowable costs for tax relief.
The Central Government, on the Committee's recommendation, approves institutions and specifies eligible projects or schemes under Section 35AC, listing for each the estimated project cost and the maximum portion of that cost allowable as deduction; the tabular approval sets project descriptions, cost ceilings (including corpus where specified) and applies for the stated three year financial period, subject to later substitutions recorded in the notification notes.

Anti-dumping duty on imported steel wheels imposes exporter specific charges and requires payment in Indian currency.
Imposition of anti-dumping duty on imports of flat base steel wheels (tariff heading 8708 70 00), applying provisional, exporter and origin specific per metric ton rates for steel wheels of nominal diameter 16"-20" originating in or exported from the People's Republic of China and for certain routed shipments; duties are expressed in foreign currency but shall be payable in Indian currency, with the rate of exchange determined by government notification and the relevant date being presentation of the bill of entry.

Anti-dumping duty continuation on potassium permanganate to counter dumped imports and protect domestic industry.
Imposition of anti-dumping duty on imports of Potassium Permanganate from the People's Republic of China after a review found substantial dumping margins, likelihood of continued dumping if duties were revoked, and marginal material injury to the domestic industry caused mainly by volume and price effects of dumped imports. The Central Government, relying on section 9A of the Customs Tariff Act and relevant Anti-dumping Rules, prescribed duty rates by producer/exporter combinations, specified units and currency, and provided that duties are payable in Indian currency with an exchange-rate rule; the duty is effective for five years unless earlier altered.

Customs exemption rate adjustment for Singapore origin imports alters specified preamble percentages and takes effect as notified.
Amendment to two customs exemption notifications substitutes revised preamble percentages for Singapore-origin imports: Notification No. 74/2005 replaces "75 per cent." with "50 per cent.", and Notification No. 75/2005 replaces "90 per cent." with "80 per cent.". The amendments are issued under section 25 of the Customs Act and take effect from the 1st day of April, 2007, modifying the exemption thresholds in the specified notifications.

DEPB exemption extended by customs notification, substituting the expiry date to continue import duty relief until March next year.
The Government amends Notification No. 89/2005 by substituting the expiry date in paragraph 2 to extend the Duty Entitlement Pass Book (DEPB) exemption period, thereby continuing Customs duty and additional duty relief for goods imported against DEPB under powers conferred by the Customs Act; the amendment is issued as G.S.R.257(E) and recorded in the Gazette.

Central Sales Tax rate reduction takes effect, aligning inter state CST with state VAT for different buyer categories.
Central Sales Tax amendments effective 1 April 2007 revise inter state levy rules: sales to registered dealers against Form C are subject to a reduced CST rate but the lower of that rate and the seller State VAT/State Sales Tax applies; inter state sales other than to registered dealers and sales to Government Departments are charged at the VAT/State Sales Tax rate of the selling State, and Government purchases against Form D are withdrawn. States are enabled to levy VAT on tobacco by removing it from central schedules and declared goods lists while preserving specified devolution entitlements.

Research approval under tax law requires audited accounts, certified donation statements and genuine research for continued tax benefit.
Approval is granted to The Kuppuswami Sastri Research Institute as an approved research institution partly engaged in research; it must utilize sums for scientific research, carry out social science research through faculty or students, maintain books of account, obtain an annual audit by a qualified accountant and submit the audit report and an auditor certified statement of donations and application of funds to the tax authorities by the income tax return due date. The Central Government may withdraw approval for failures in accounting, audit, reporting, genuineness of research activities, or noncompliance with the governing rules.

Research donation eligibility approved for ITC Sangeet Research Academy, subject to audit, utilization and reporting conditions.
ITC Sangeet Research Academy, Kolkata is approved as an other institution partly engaged in research activities from 1-4-2005 subject to conditions: sums received must be used for scientific research conducted by its faculty or enrolled students; books of account must be maintained and audited by a qualified accountant with the audit report and an auditor certified statement of donations and amounts applied for research furnished to the tax authorities by the return filing due date; failure to comply or cessation of genuine research activity may result in withdrawal of approval.

Approval under Section 35(1)(ii) conditions research funding, audit reporting and separate donation accounting for tax recognition.
Approval under Section 35(1)(ii) was granted to Indian Cancer Society, Mumbai as an other institution partly engaged in research activities subject to conditions: payments must be used for scientific research; research carried out by faculty or enrolled students; books of account maintained and audited by a qualified accountant with the audit report furnished to the tax authority by the income tax return due date; and a separate auditor certified statement of donations received and amounts applied for research must accompany the audit report. The Central Government may withdraw approval for specified non compliance or cessation/non genuineness of research activities.

Approval under Section 35(1)(ii): organisation recognised for partly research activities subject to audit and disclosure conditions.
Approval recognises the organisation as an other institution partly engaged in research effective 1-4-2003, subject to conditions: sums paid must be utilised for scientific research; research must be carried out through faculty or enrolled students; books of account must be maintained and audited by a qualified accountant with the audit report furnished to the tax officer by the return due date; and a separate auditor-certified statement of donations received and amounts applied for research must accompany the audit report.

Approval under Section 35(1)(ii) permits tax-recognized research funding subject to audit and reporting compliance.
Approval under Section 35(1)(ii) has been granted to Jnana Prabodhini Samshodhan Sanstha (JPSS), Pune, effective 1-4-2004, in the category of other institutions partly engaged in research, subject to conditions that payments be utilized for scientific research and that the institution carry out social sciences research. The approval requires maintenance of books, annual audit by a defined accountant, timely submission of the auditor's report, and a separate auditor-certified statement of donations and sums applied to research; failure to comply may lead to withdrawal of approval.

Tax approval for research institution - recognition granted subject to research use of funds, audit and reporting compliance.
SASMIRA, Mumbai is approved for tax recognition under Section 35(1)(ii) as an "other Institution, partly engaged in research activities" effective 1 April 2000, conditional on using receipts for scientific research, conducting research through faculty or enrolled students, maintaining audited books and furnishing the audit report by the return due date, and providing an auditor certified statement of donations and sums applied for research; approval may be withdrawn for failures to maintain accounts, furnish required reports or statements, cessation or lack of genuine research, or noncompliance with the governing provisions.

Research approval requires donor payments be used for scientific research with audit, reporting and compliance conditions.
Approval was granted to U.N. Mehta Institute of Cardiology & Research Centre as an other institution partly engaged in research effective 1 April 2001, subject to conditions that donor sums be used for scientific research, research be carried out by faculty or enrolled students, and the institute maintain books, obtain annual audit by a prescribed accountant and submit the audit report and an auditor certified statement of donations and amounts applied for research to the tax authority; approval may be withdrawn for specified failures.

Approval under Section 35(1)(ii) permits donor deductions for scientific research subject to audit, reporting and compliance requirements.
Approval is granted to The Arya Vaidya Sala, Kottakal, as an approved institution for research-related donations effective 1-4-2005, subject to utilization of sums for scientific research conducted by its faculty or enrolled students, maintenance of books of account, annual audit by a qualified accountant with timely filing of the auditor's report, and provision of a separate auditor-certified statement of donations received and amounts applied for scientific research; approval may be withdrawn for failures to comply with these conditions or if research activities are not genuine.

Approval for research institution conditioned on audited accounts and certified use of donations for scientific research.
Approval is granted to The K.J. Somaiya Institute of Applied Agricultural Research, Karnataka, under clause (ii) of section 35(1) read with Rules 5C and 5E effective 1-4-2003, as an institution partly engaged in research, subject to conditions: funds must be used for scientific research; research conducted by faculty or enrolled students; maintained books of account audited by a qualified accountant with the audit report furnished to the tax authorities by the income-tax return due date; and a separate auditor-certified statement of donations received and amounts applied for research must accompany the audit report. The Central Government may withdraw approval for specified failures or noncompliance.

Approval under Section 35(1)(ii) grants scientific research association status, subject to audit, donation reporting, and genuine research.
Approval is granted to Aravind Medical Research Foundation as a scientific research association effective 1-4-2005, subject to conditions: the sole objective must be scientific research carried out by the organization; maintenance of books of account and audit by a qualified accountant with the audit report furnished to the tax authority by the return due date; and maintenance of a separate auditor-certified statement of donations received and amounts applied for scientific research, furnished with the audit report. Approval may be withdrawn for failure to comply with these requirements or if research is not genuine.

Research institution approval for tax purposes requires donated funds to be used for bona fide scientific research.
Approval under Section 35(1)(ii) recognises the organisation as an 'other institution, partly engaged in research activities' subject to conditions that donations be utilised for scientific research and that research be conducted by faculty or enrolled students.