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This notification contains Amendment to Income-tax (Amendment) Rules, 1987 carried out on 2nd January, 1987 not reproduced here as it is already contained in the body of the Rules itself.
Circular No. 477-Income Tax Explanatory Notes ESTATE DUTY (AMENDMENT) ACT, 1986 1. The Estate Duty (Amendment) Bill, 1986, as passed by both the Houses of Parliament during the last session, received assent of the President on 26th November, 1986, and has been published in the Gazette of India, Extraordinary, Part II, dated 27th November, 1986, as Act No. 49 of 1986
In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” The Thrikkakara Kshetra Kshema Samithi, Cochin ” to be a place of public worship of renown throughout the State of Kerala under the said clause.
That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department or Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing its total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax.
That the said Association will apply to the Central Board of Direct Taxes, Ministry of Finance (Department or Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
That the said Institute will not receive any sum to be used for non-research activities such as establishment of planetarium and activities connected with education, training and the like under section 35(1)(ii). It will also not spend any sums received under section 35(1)(ii) towards the aforesaid activities.
That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department or Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” Shri Sanatan Dharam Sabha Lakshmi Narain Temple Trust, New Delhi ” for the purpose of the said clause for the assessment years 1984-85 and 1985-86.
In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” Shri Badrinath Kedarnath Temple Committee ” for the purpose of the said clause for the assessment years 1985-86 to 1987-88.