Reimbursement of guarantor rights: resident debtors may reimburse non-resident guarantors for guarantee payments within rupee-equivalent limit.
A resident principal debtor may reimburse a non-resident guarantor for payments the guarantor made to a resident creditor under a guarantee; the reimbursement shall not exceed the rupee equivalent of the amount paid by the non-resident guarantor.

Prohibition on sole selling agents amended: notification's reference year updated under Companies Act, affecting bulk drugs regulation.
The Central Government, invoking powers under the Companies Act, amends Notification GSR No. 364(E) dated 27-4-2000 (relating to prohibition of sole selling agents for bulk drugs) by substituting the figures "1987" with "1995", issued as Notification GSR 749(E) dated 25-9-2000.

Onion export authorization allows additional quantity to be exported via NAFED under existing FTP terms by prescribed deadline.
An export authorization amends the ITC(HS) entry for onions to permit an additional released quantity to be exported, subject to procurement from within Maharashtra and export either directly by the designated procurement channel or through registered exporters on the same terms and conditions as earlier FTP notifications; the released quantity must be exported by the prescribed deadline.

Approval under section 36(1)(viii) grants tax deduction eligibility to a housing finance company subject to compliance conditions.
Approval is granted to Ind Bank Housing Ltd. under section 36(1)(viii) of the Income tax Act, 1961, for the stated assessment years, subject to conditions: primary object of providing long term housing finance; annual submission of audited profit and loss account and balance sheet with the statement of deduction before the return filing due date; creation and maintenance of the statutory special reserve; and fulfilment of all other conditions of section 36(1)(viii).

Tax approval for infrastructure enterprises enables specified projects to claim exemption subject to compliance and audit requirements.
Notification approves specified enterprises as eligible for income tax exemption as infrastructure undertakings for the stated assessment years, conditional on conformity with the exemption provision and associated rule; the Central Government may withdraw approval if the undertaking stops carrying on the infrastructure facility, fails to maintain and audit books of account, or fails to furnish the required audit report. Listed approved projects include a road improvement on a BOT basis by a private company and specified thermal power stages of a state power generation corporation.

Approval under Income-tax provision permits conditional deduction eligibility for housing finance companies subject to compliance and reporting.
Approval under section 36(1)(viii) permits a housing finance company to claim tax deductions provided it has the main object of long-term housing finance, submits annually audited accounts and a statement of deductions by the due return filing date, creates and maintains the required special reserve, and complies with all other statutory conditions of the provision.

Tax exemption approval under section 10(23G) granted for specified infrastructure projects, subject to compliance and audit conditions.
Approval under section 10(23G) is granted to specified enterprises and industrial undertakings subject to conformity with section 10(23G) read with rule 2E. Conditions include maintaining books of account, obtaining an accountant's audit where required, and furnishing the audit report as per sub rule (7) of rule 2E. The Central Government may withdraw approval if an undertaking ceases to carry on an infrastructure facility or fails to comply with the bookkeeping, audit or audit reporting obligations. The notification names the specific approved infrastructure and power projects to which this conditional approval applies.

Excise duty concession for jute yarn permits duty-free domestic sale by EOUs and FTZs; reduced duty for knitted fabrics.
Amendments exempt jute yarn and jute goods manufactured wholly from indigenous raw materials in a hundred per cent export-oriented undertaking or a free trade zone from excise duty when allowed to be sold in India, and impose a concessional excise rate equal to fifty per cent of the tariff duty on specified knitted or crocheted cotton and certain manmade-fibre fabrics by inserting these items into the notification table.

Exemption under section 35AC extended for Shri Sadguru Seva Sangh Trust's rural welfare projects, renewing eligible scheme status.
Central Government specifies extension of tax-exempt status under section 35AC for Shri Sadguru Seva Sangh Trust's scheme of rural welfare projects in health care, education, sports and cultural activities at Jankikund, Chitrakoot and Anantpur, District Vidisha, Madhya Pradesh, for a further three-year period beginning with assessment year 2001-2002; the extension follows the National Committee's recommendation and records the estimated cost as corpus fund only.

Exemption under section 35AC: Amrita Kuteeram housing project specified as eligible for a further three-year period.
The Central Government specifies the development of land and construction of 5,000 houses "Amrita Kuteeram" by Mata Amritanandamayi Charitable Trust as an eligible project for exemption under the Explanation to section 35AC. The National Committee recommended, under rule 11M(5), a further three-year specification after finding the project properly executed; the Government accordingly extends the project's eligibility for a further three years beginning with assessment year 2001-2002 and notes the estimated project cost.

Section 35AC exemption designation continued for a specified healthcare housing project after committee recommendation and government notification.
Specification under section 35AC designates the housing facility and related instruments, equipment and furniture for Kai Mohan Thuse Netra Rugnalaya as an eligible project and extends that designation for a further three-year period beginning with the assessment year 2000-2001, following a National Committee recommendation under the rules; the notification records the estimated project cost and a corpus fund and confirms continuation of tax-exemption treatment for the specified project.

Exemption under section 35AC extended to NGO healthcare and education project, permitting continued tax-deductible support.
The Central Government specifies the project executed by Anjali (Society for Rural Health and Development) - involving construction and operation of tutorial and children activity facilities, an Anjali Hospital, T.B. Centre, and related educational activities at Ranasan Harsol Sabarkantha, Gujarat - as an eligible project under the Explanation to section 35AC of the Income tax Act for a further three year period beginning with the assessment year 2001 2002, following the National Committee's recommendation under rule 11M.

Exemption under section 35AC extended for a training institute project following government specification and National Committee recommendation.
The Central Government, pursuant to statutory powers and following a National Committee recommendation, specified the running of a Training Institute and Training Workshop at Zerewede, Pune, by Society for Service to Voluntary Agencies as an eligible project under section 35AC for a further two-year period beginning with the stated assessment year, with an identified estimated project cost, thereby extending the project's exemption eligibility.

Exemption under section 35AC extended for a charitable hospital equipment and running scheme as eligible for a further three-year period.
The Central Government specifies the scheme of purchase of equipment and running of a hospital by Victoria Jubilee Dispensary Society, Ahmedabad, as an eligible project or scheme under the Explanation to section 35AC for a further three-year period beginning with assessment year 2001-2002, following the National Committee's recommendation that the project is being executed properly.

Exemption under section 35AC extended for charitable eye care equipment scheme, specifying it as an eligible project for a further term.
Exemption under Section 35AC is applied to the scheme of provision of eye operation equipments and instruments for Sarvoday Eye Hospital/Eye Camps by Sarvoday Arogya Nidhi; the Central Government, under the Income tax Act and the Explanation to section 35AC, specifies the scheme as an eligible project for a further period following a National Committee recommendation that the project is being executed properly, and records the implementing organisation, locations, and estimated project cost for the renewed specification.

Tax exemption under section 35AC extended for charitable home construction; eligibility renewed for a further three-year period.
The Central Government, invoking section 35AC, specifies as eligible the project of constructing a building, furnishing it and providing a vehicle for a Home for Aged and Orphans at Pedakakani, Guntur, executed by Vathsalya Ashram; following a National Committee recommendation that the project has been properly executed, the specification is extended for a further three-year period beginning with assessment year 2001-2002, with an estimated project cost stated in the notification.

Income tax exemption under section provision: project specification extended and maximum allowable project cost increased.
The government extended specification of the construction of Phase I of Bhagwan Mahaveer Cancer Hospital and Research Centre as an eligible project under the relevant Income tax provision for a further two year period, following the National Committee's recommendation that the project was properly executed and likely to extend beyond six years, and amended the original notification to increase the maximum project cost allowable for deduction.

Exemption under section 35AC: specified health projects extended as eligible for tax exemption by government notification.
Central Government specified the Joint Leprosy/T.B./HIV/AIDS Control Programme at Koraput and the Khondamal Leprosy Eradication Project by Lepra Society as eligible projects under the Explanation to section 35AC. After the National Committee found the projects properly executed and recommended an extension, the Government extended the specification for a further three years beginning with assessment year 2001-2002, noting the Khondamal project's estimated cost of three hundred ninety lakhs.

Exemption under section 35AC extended for Rayalaseema Seva Samithi construction project, preserving its eligible project status.
The Central Government specified extension of exemption under section 35AC by designating Rayalaseema Seva Samithi's construction of an Administrative Building, Training-cum-Production Centre and Women Hostel at M.R. Palli, Tirupati Rural, Chittoor District, as an eligible project for a further two years beginning with assessment year 2001-2002, following the National Committee's recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 that the project was being executed properly.

Section 35AC exemption extended for maintenance of nine institutions under Sai Baba Seva Dham by charitable trust.
Central Government, invoking sub section (1) read with clause (b) of the Explanation to section 35AC, specifies the scheme of maintenance and administrative expenditure on nine institutions under Sai Baba Seva Dham, carried out by Radha Kaliandas Daryanani Charitable Trust, as an eligible project for exemption for a further three year period beginning with assessment year 2001 2002, following a National Committee recommendation under rule 11M(5) that the project is being properly executed.