Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 16/1/1981
It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, subject to the following conditions :—
(1) The funds collected by the National Institute of Public Finance and Policy, New Delhi, under this exemption shall be utilised exclusively for promotion of research in Social Science.
(2) That the National Institute of Public Finance & Policy shall maintain separate accounts of the funds collected by them under the exemption, and
(3) That the National Institute of Public Finance & Policy shall send an annual report and statement of accounts regularly to the I. C. S. S. R. as well as to the concerned Commissioner of Income-tax showing the funds collected under this exemption and the manner in which these funds are utilized.
The National Institute of Public Finance and Policy, New Delhi.
This notification is effective from 1-4-1980 to 31-3-1983.
[No. 3795/F. No. 203/6/80-ITA. II