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That the said Institute will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their 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 Institute will furnish annual returns of its 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.
That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of 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.
It is hereby notified for general information that the approval granted on perpetual basis under section 35(1)(ii) of the Income-tax Act, 1961, to the Calcutta Medical Research Institute, Calcutta, vide Ministry of Finance (Department of Revenue and Insurance), Notification No. 55 (F. No. 10/57/61-ITA. II) dated 11-8-1961, is hereby converted into a time-bound approval valid up to 30-6-1986.
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Sri Somanath Trust” for the purpose of the said clause for the assessment years 1985-86 to 1987-88.
Circular : No. 467-Income Tax I am directed to invite a reference to this Department’s Circular No. 428 [F. No. 275/30/85-IT(B)], dated 8-8-1985 and Circular No. 425 [F. No. 275/31/85-IT(B)], dated 24-7-1985 on the above subject, wherein the rates at which deductions of tax under sections 194B and 194BB to be made during the financial year 1985-86 from winnings from lottery or crossword puzzles or horse races were communicated.
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Society for Promotion of Waste-lands Development” for the purpose of the said clause for the assessment years 1987-88 to 1989-90.
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Lal Bahadur Shastri National Memorial Trust” for the purpose of the said clause for the assessment years 1985-86 to 1987-88.
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “The Indian Gypsy Works Fellowship Trust” for the purpose of the said clause for the assessment years 1985-86 and 1986-87.
That the said Association will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of 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.
