Fungibility of Indian Depository Receipts enables conversion into underlying equity shares as specified by the Board and Reserve Bank.
The amendment substitutes regulation 100 to provide that Indian Depository Receipts shall be fungible into underlying equity shares of the issuing company in the manner specified by the Board and the Reserve Bank of India; the Regulations are made under statutory empowerment and shall come into force on publication in the Official Gazette.

Portfolio Investment Scheme reporting requires Unique Code registration and regular ORFS filing with reconciliation by banks.
The amendment requires the link office of a designated branch of an Authorized Dealer to obtain a Unique Code from the Reserve Bank and file consolidated PIS transaction reports for NRIs for the entire bank via the Online Report Filing System (ORFS), with periodic reconciliation through NRI holding reports. It permits NRIs to open separate NRE(PIS) and NRO(PIS) sub accounts for routing receipts and payments for PIS transactions, and specifies permitted credits and debits for those accounts while preventing non PIS proceeds from being credited to PIS accounts.

SEZ amendment updates notified and resultant land areas for a multi product SEZ altering earlier notification details.
The Central Government, under Section 4(1) of the Special Economic Zone Act and rule 8 of the SEZ Rules, amends notification S.O. 302(E) by replacing column (6) and column (8) entries to update the Notified Area and Resultant Area hectare figures for the multi product SEZ proposed by M/s. IFFCO Kisan SEZ Limited in specified villages of Nellore district, Andhra Pradesh.

Extension of time limit for submission of final safeguard findings on hot-rolled stainless steel imports from PR China.
The Central Government, invoking sub-rule (1) of rule 11 of the Customs Tariff (Transitional Product Specific Safeguard Duty) Rules, 2002, extends the period for submission of final findings in the safeguard investigation concerning imports of hot rolled flat products of stainless steel of series 300 from the People's Republic of China to 25th May, 2013.

Electoral Trusts Scheme update: corrections change references to 2013 in notification; remaining provisions remain formally unchanged.
Corrigendum corrects two textual references in the prior income-tax notification: the Definitions paragraph and Form A both replace the reference to the Electoral Trusts Scheme, 2012 with Electoral Trusts Scheme, 2013; all other contents of the original Gazette notification remain unchanged.

Jurisdictional delegation of TDS processing permits centralised commissioner to process statements and exercise related powers.
The notification vests the Commissioner overseeing centralised TDS processing with concurrent powers to process TDS statements, rectify apparent mistakes from processing, set off or adjust refunds against a deductor's outstanding tax liability, and issue demand notices for specified classes of TDS-related cases; the Commissioner may delegate these powers in writing to subordinate Additional or Joint Commissioners, who may further delegate them to Assessing Officers for the specified cases.

Delegation of income-tax jurisdiction: Director General (Systems) to exercise powers for Centralised Processing Cell TDS cases.
The Central Board of Direct Taxes directs that the Director General of Income-tax (Systems), New Delhi, shall exercise the powers and perform the functions in respect of cases or classes of cases for which the Commissioner of Income-tax, Centralised Processing Cell (TDS) has jurisdiction; this delegation is effected by notification and comes into force upon publication in the Official Gazette.

Control of income-tax authorities: notification designates administrative subordination between specified tax offices upon gazette publication.
A statutory notification under Section 118 of the Income-tax Act designates the Commissioner of Income Tax Centralised Processing Cell (TDS) as subordinate to the Director General of Income Tax (System), establishing administrative control and reporting between the specified offices, and providing that the direction comes into force upon publication in the Official Gazette.

Service Tax Amendment: extended ST-3 filing deadline and mandated a comprehensive revised ST-3 return format for reporting and CENVAT details.
Amendment to the Service Tax Rules, 1994 extends the submission date for Form ST-3 for the quarter after 1 July 2012 and substitutes Form ST-3 with a comprehensive revised return requiring identification particulars, classification of liability as provider or recipient, declaration of exemptions and abatements, detailed quarterly/monthly service-wise value reporting, separate provider/receiver schedules, tax payments and adjustments (including CENVAT credit utilization), arrears/interest/penalties with source documents, and dedicated schedules for Input Service Distributors and cess accounting, together with extensive completion instructions and an annexure listing taxable services.

Designation of Special Courts broadens territorial jurisdiction for money laundering trials under the PMLA, amending earlier notification.
Amendment designates specific trial fora under the Prevention of Money Laundering Act, substituting the Annexure entry to identify the Principal Sessions Courts at Ernakulam and Kozhikode as the Special Courts with jurisdiction to try offences under the Act for the entire State of Kerala.

Section 35AC corrigendum: trust name corrected to Sankar Foundation, amending the prior Income Tax notification text.
Corrigendum to a notification under Section 35AC corrects the trust name in Government Notification S.O. 2366(E), dated 4-10-2012, instructing that the name "Shankar Foundation" be read as "Sankar Foundation," and cites the Gazette publication and administrative file reference.

Exchange rate determination establishes customs conversion rates for imports and exports effective in February, superseding prior notification.
Determination of rate of exchange under the Customs Act prescribes conversion rates for specified foreign currencies for customs valuation of imports and exports effective 22nd February, 2013, superseding the prior notification. Distinct import and export rates are listed in annexed schedules, including a separate schedule for currencies quoted per 100 units, and corrigenda correct earlier published figures for the Kenya shilling.

Double Taxation Agreement allocates taxing rights and sets cooperation, anti abuse and dispute resolution mechanisms between India and Ethiopia.
The Agreement allocates taxing rights between India and Ethiopia for residents and taxes on income, defines residence and permanent establishment (including thresholds and exclusions), and prescribes how business profits, immovable property, shipping, dividends, interest, royalties, capital gains and personal service income are taxed. It provides methods to eliminate double taxation, non discrimination and anti abuse rules, a limitation of benefits clause, and administrative cooperation measures including mutual agreement procedures, exchange of information with confidentiality limits, and assistance in collection; entry into force and termination rules establish temporal effect.

Appointment of tribunal member: Shri Jog Singh named for a fixed term subject to statutory age limit and term conditions.
Under the authority of Section 15L read with Section 15N of the Securities and Exchange Board of India Act, 1992, the Central Government appoints Shri Jog Singh as a Member of the Securities Appellate Tribunal, Mumbai by formal notification. The appointment is for a five year term commencing on the stated forenoon, subject to earlier termination upon the appointee reaching the statutory age limit of sixty two years.

Designation of Inland Container Depot at Baddi permits unloading of imported goods and loading of export goods under customs law.
Central Government amends the principal Customs notification by inserting a new serial entry designating Baddi, District Solan, Himachal Pradesh, as an Inland Container Depot under clause (aa) of sub section (1) of section 7 of the Customs Act, 1962, with the operative function limited to unloading of imported goods and loading of export goods.

Scientific research approval requires dedicated use, audited separate accounts and certified donation statements; noncompliance triggers withdrawal.
Approval was granted to the Foundation for Revitalization of Local Health Traditions as an approved institution under section 35(1)(ii) read with Rules 5C and 5E, subject to conditions: sums received must be used for scientific research conducted by faculty or enrolled students; separate books of accounts for research receipts and expenditures must be 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 and amounts applied to research must accompany the audit report. Approval may be withdrawn for specified noncompliance.

Scientific research approval under section 35 requires donations be used for research with mandated audit and reporting.
Approval of International Institute of Information Technology Bangalore as an approved scientific research institution permits it to receive donations for scientific research provided the sums are used for research carried out by its faculty or enrolled students, separate books of account are maintained for such sums, an audit by a qualified accountant is obtained and the audit report together with a certified statement of donations and amounts applied is furnished to the tax authority by the income tax return due date.

Customs exemption for LR-SAM programme imports subject to authorised works centres and certified programme-specific lists.
Grants a temporary customs exemption for machinery, equipment, instruments, components, spares, tools, software, raw materials and consumables imported for the LR-SAM Programme, provided imports are made by authorized works centres designated by a Ministry of Defence officer not below Deputy Secretary and accompanied at import by a Programme Director-certified list confirming Ministry of Defence authorization and exclusive use for the LR-SAM Programme; the exemption is time-limited.

Exemption for defense missile programme supplies: duty relief if certified by Programme Director and supplied to programme; subject to expiry.
Provides excise exemption for specified machinery, equipment, components, spares, tools, software, raw materials and consumables supplied to the LR-SAM programme of the Ministry of Defence, where, before clearance, a certificate from the Programme Director is produced to the proper officer, and the exemption expires on 25th May, 2013.

Income-tax rules: mandatory electronic filing, digital verification, and new Form 26B for Chapter XVII-B refund claims.
The amendments mandate electronic furnishing and verification (by digital signature or electronic process) for specified TDS/TCS statements and accountant certificates, require that the systems authority prescribe procedures, formats and standards and administer day-to-day operations, and insert Form 26B as the electronic form for deductors to claim refunds of sums paid under Chapter XVII-B; several statutory forms and rules are substituted to align quarterly statements, declarations and certificates with this electronic regime.