Foreign currency bridge finance for spectrum bidders permitted, with RBI-specified conditions and refinancing and repayment exemptions.
Authorises foreign currency borrowings as bridge finance for successful spectrum reauction bidders to make upfront payments, permitting refinancing by fresh foreign currency borrowings under the Act and regulations subject to Reserve Bank-specified terms. Exempts such bridge finance from sub-paragraph (v) of paragraph 1 and allows refinancing of rupee loans used for upfront payments without application of the repayment restriction in sub-paragraph (iv)(B); permits borrowings from the ultimate parent company subject to Reserve Bank conditions.

Renewal of recognition permits exchange trading subject to compliance with regulatory requirements and prescribed conditions.
Grant of renewal of recognition to Inter-connected Stock Exchange of India Limited for one year under the Securities Contracts (Regulation) Act, 1956, authorising operation in contracts in securities subject to conditions. The Exchange may commence trading only after complying with all regulatory requirements and must comply with any further prescribed conditions.

Withholding tax reduction to lower ceilings for cross border dividends, interest, royalties and technical fees under amended treaty.
The Protocol reduces withholding tax ceilings to ten percent for dividends, interest, royalties and technical fees, replaces the Exchange of Information provision with expansive information exchange obligations (including information held by financial institutions) subject to confidentiality and public policy exceptions, introduces mutual Assistance in the Collection of Taxes permitting collection and conservancy of revenue claims under the requested State's laws, and inserts a Limitation of Benefits anti abuse rule disallowing treaty benefits where obtaining them is a main purpose or where entities lack bona fide activities.

Exchange recognition renewal requires compliance with a prior regulatory circular before trading may commence.
Renewal of recognition of Cochin Stock Exchange Limited under Section 4 of the Securities Contracts (Regulation) Act, 1956 is granted for one year from 8 November 2012 to 7 November 2013 for contracts in securities, subject to conditions requiring commencement of trading only after compliance with the regulator's specified circular and conformity with any other conditions that the regulator may impose from time to time.

Deduction under section 80-IA: industrial park notification grants conditional tax benefits subject to compliance and occupancy requirements.
Notification under section 80-IA approves M/s India Land and Properties Pvt. Ltd., Chennai, as the developer, maintainer and operator of an industrial park at Indian Land Tech Park Towers AB and C, specifying site, minimum constructed floor area, permitted activities under the Industrial Park Amendment Scheme, allocable area percentages, minimum industrial units and commencement date. Tax benefits under section 80-IA are available only to the notified undertaking after the minimum unit threshold is met; separate books and timely tax filings are required; annual reporting in Form IPS-II is mandated; non-disclosure, misrepresentation, unauthorized amendments or non-compliance may invalidate the notification and attract withdrawal of approval.

Deduction under section 80-IA: Industrial park notified for tax benefits, contingent on allocation, unit and compliance conditions.
Notification under section 80-IA designates M/s. Ferani Hotels Pvt. Ltd., Mumbai as an Industrial Park for tax deduction purposes subject to the Industrial Park Scheme and Rule 18C. Approval specifies location, commencement certificate date, minimum constructed floor area, allocation percentages for industrial and commercial use, minimum number of industrial units, ownership by a single undertaking, permissible activities, requirement to keep separate books of account, timely filing of returns, and annual reporting in Form IPS-II, with Central Government power to withdraw approval for non-compliance or misrepresentation.

Tax-free bond issuance ceilings limit coupon rates and set eligibility, issue and compliance conditions for issuers and investors.
Authorises specified public and infrastructure entities to issue tax free, secured, redeemable, non convertible bonds in 2012-13 subject to eligibility (RII, QIBs, Corporates, HNIs), mandatory PAN and registration for tax benefit, prescribed tenures, and ceiling coupon rates tied to a FIMMDA reference G sec average. Ceiling differentials apply between retail and other investors, rating based reductions, and semi annual payment adjustments. Public issuance and private placement procedures, caps on issue expenses and brokerages, mandatory financing plans for repayment, and competitive selection of merchant bankers are required.

Common Adjudicating Authority appointment centralises adjudication of customs show cause proceedings for a named importer.
The Central Board of Excise and Customs designates the Additional Commissioner or Joint Commissioner of Customs (Import), Custom House, Kandla, as the Common Adjudicating Authority to exercise and discharge adjudicatory powers and duties in respect of the show cause proceedings concerning M/s KLJ Resources Ltd., consolidating jurisdiction otherwise vested in the Import Commissioners at Kandla and at Adani Port & SEZ, Mundra.

Exchange Rate Determination prescribes conversion rates for foreign currencies to govern valuation of imported and exported goods.
Determination under section 14 of the Customs Act prescribes specified rupee conversion rates for listed foreign currencies, effective 2nd November, 2012, superseding an earlier notification; Schedule I sets separate rates for imported and export goods per currency and Schedule II sets the rate for 100 units of Japanese Yen, with corrigenda noted to correct certain previously published numeric entries.

Tariff value fixation updated: amended customs values for palmolein, brass scrap, poppy seeds, gold and silver notified.
Amendment substitutes revised TABLE-1 and TABLE-2 into Notification No. 36/2001-Customs (N.T.) under section 14(2) of the Customs Act, 1962, fixing tariff values in US dollars per metric tonne for specified imported goods including vegetable oils (palm and soyabean), brass scrap (all grades), poppy seeds, and setting unit tariff values for gold and silver where specified concessional entries are availed.

Tax Treaty Amendments clarify residency, dividend withholding limits, information exchange, and cross-border tax collection assistance.
Amendments revise definitions and residency to base residence on liability to tax under domestic criteria while excluding persons taxed only on source income and limiting partnership/trust application; restructure dividends to allow recipient state taxation with capped source state withholding for beneficial owners resident in the other State and special treatment for certain investment vehicles; delete the partnerships article; expand exchange of information and add provisions for tax examinations abroad, assistance in collection of revenue claims, and a limitation of benefits clause to deny treaty advantages when a principal purpose is obtaining them.

Submission of Form Stock-1 mandated to take effect, modifying prior notification on VAT information submission requirements.
Directive that submission of information in Form Stock-1 shall come into force from the specified effective date as a partial modification of an earlier notification; the Commissioner directs deferred commencement of the Form Stock-1 requirement and instructs departmental publication, web upload, and circulation to named administrative recipients for implementation.

Approval as Scientific Research Association subject to use of funds, separate accounting, audit filing and donation reporting conditions.
National Institute of Ocean Technology, Chennai is approved as a Scientific Research Association permitting sums paid to it to be utilized for scientific research, provided it conducts research through faculty or enrolled students, maintains separate books of account for research receipts and expenditures, obtains an audit by a qualified accountant and files the audit report with the tax authority by the return due date, and maintains an auditor certified statement of donations and amounts applied for research; approval is withdrawable for specified non compliances.

Designation of competent courts under Prevention of Money Laundering Act updates Maharashtra jurisdictional allocations accordingly.
The Central Government, in consultation with the Chief Justice of the High Court of Bombay, substitutes the Annexure entries for Maharashtra to designate the Court of Judge, City Civil Court and Additional Sessions Judge, Greater Bombay, and all Principal District and Sessions Judges as the courts for matters within the area comprising Greater Bombay and their respective judicial districts.

Approval under section 10(23C)(vi) confirms conditional tax-exempt status subject to compliance with rule 2CA and conditions.
Approval under section 10(23C)(vi) of the Income-tax Act, read with rule 2CA, authorizes tax-exempt recognition for Manipal University, Jaipur on condition that the society conforms to and continues to comply with the eligibility and procedural requirements of the cited provision and rule.

Correction of notification: project title and cost amended to designate Children's Home Project and update cost.
Corrigendum to an income-tax notification replaces the project designation "Sevalaya Primary School Building Project" with "Children's Home Project" and amends the published project cost to a revised aggregated amount that includes a corpus fund component, by directing that the cited portions of the original notification be read as so amended.

Capital gains account scheme now includes eligible companies and adds joint-application closure, AO approval, and form signature changes.
Amendment incorporates eligible companies under section 54GB into the Capital Gains Account Scheme by inserting references to section 54GB throughout the Scheme and amending Forms A, C and G. It establishes that an eligible company may close its account only by a joint application signed by the eligible assessee and with approval of the Assessing Officer, filed in Form G, and directs the deposit office to credit the account balance and accrued interest to the depositor's bank account. Signature lines for the eligible assessee are added to affected forms.

Form T-2 submission requirement comes into force as modified by prior notifications under DVAT authority.
Submission of Form T-2 is directed to come into force from 01-01-2013 by the Commissioner, Value Added Tax, as a partial modification of prior notifications dated 05.09.2012, 28.09.2012 and 12.10.2012 under the Delhi Value Added Tax Act, with instructions for departmental dissemination and publication.

ITR V filing deadline for AY2010 11 and AY2011 12 extended to 31 December 2012 or 120 days from upload.
The Director General (Income Tax Systems) directs that ITR V forms for electronic returns filed without a digital signature for AY 2010 11 and AY 2011 12 may be submitted up to 31 December 2012 or within 120 days from the date of uploading of the electronic return data, whichever is later, to mitigate hardship to taxpayers prevented by reasonable causes from timely filing.

Foreign investment by Pakistani persons allowed with prior government approval, subject to sectoral prohibitions and Schedule conditions.
Amendment adds a provision allowing citizens of Pakistan and entities incorporated in Pakistan to purchase shares and convertible debentures of Indian companies under the Foreign Direct Investment scheme with prior approval of the Foreign Investment Promotion Board, subject to Schedule 1 terms and conditions; the recipient Indian company must not engage in defence, space, atomic energy or other sectors prohibited for foreign investment, and Schedule 1 is revised to state that persons referred in Regulation 5(1) may acquire securities only to the extent and on the terms set out in the Schedule.