Exemption for foreign company income from sale of leftover crude oil after agreement expiry, subject to notified conditions.
A new clause excludes from total income any income of a foreign company arising from sale of leftover crude oil at an Indian facility after expiry of a government approved storage and sale agreement, subject to conditions to be notified by the Central Government; the amendment is prospective and applies from the designated assessment year.

Capital gains exemption restriction applies where securities transaction tax not paid on equity share transfers, affecting post acquisition transactions.
Amendment to clause 38 of section 10 denies exemption for income from transfer of a long-term capital asset being an equity share where the acquisition (unless notified otherwise) was entered into on or after 1 October 2004 and the transaction is not chargeable to Securities Transaction Tax under the Finance (No.2) Act, 2004; the change is proposed in the Finance Bill, 2017 and applies retrospectively from 1 October 2004.

Exemption from capital gains for transfer of land under specified land pooling scheme, applied retrospectively to relevant assessment years.
A new exemption excludes from total income capital gains arising to an individual or Hindu undivided family on transfer of land under the Andhra Pradesh Capital City Land Pooling Scheme, provided the assessee was the owner of the specified capital asset as of the statutory cut-off date; the amendment clarifies the term "specified capital asset" and applies retrospectively to the relevant assessment years.

Voluntary contributions to corpus not treated as application of income for registered trusts, altering donor tax treatment.
The amendment provides that any amount credited or paid out of income as a voluntary contribution with a specific direction that it shall form part of the corpus of a trust or institution registered under the charitable-registration framework shall not be treated as an application of income for purposes of the entity's objects.

Exemption for Chief Minister's Relief Fund under income-tax law applied retrospectively to earlier assessment years.
An amendment inserts a new sub-clause to extend income-tax exclusion to the Chief Minister's Relief Fund and the Lieutenant Governor's Relief Fund, aligning their tax treatment with other recognised relief funds and applying the exclusion retrospectively to the assessment years beginning from when deduction provisions for payments to those funds first became operative.

Partial NPS withdrawal exemption allows tax-free withdrawals under PFRDA-regulated conditions for eligible employees.
An amendment adds a tax exemption for employee partial withdrawals from the National Pension System Trust, excluding from total income those withdrawals that do not exceed twenty-five per cent of the employee's contributions, provided the withdrawal complies with terms and conditions under the Pension Fund Regulatory and Development Authority Act, 2013 and its regulations; the amendment is effective from 1 April 2018 for the stated assessment year and subsequent years.

Exempted income definition clarified: correct reference for 'person resident outside India' aligns NRE interest exemption retrospectively.
The proviso to clause (ii) of clause (4) of section 10 is amended to correct the cross reference for the expression "person resident outside India", replacing an outdated citation with the definition as enacted under the Foreign Exchange framework; the amendment is clarificatory and operates retrospectively to the date the clause was first brought into effect.