Notification: S.O.3032
Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 9/6/1976
It is hereby notified for general information that the institution mentioned below has been approved by the Secretary, Department of Science & Technology, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, subject to the following conditions :—
(i) The Indian Register of Shipping shall maintain a separate account of the sums received by them for undertaking Scientific Research in the area of natural and applied sciences other than agriculture/animal husbandry/fisheries and medicines.
(ii) The I.R.S. will furnish the annual returns of their scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose, by 30th April, each year.
Institution
Indian Register of Shipping, Bombay.
This notification is effective for a period of three years from 1st April, 1976
