NOTIFICATION NO. 169/2005, DATED 24-6-2005
It is hereby notified for general information that the organization M.S. Swaminathan Research Foundation, 3rd Cross Road, Taramani Institutional Area, Chennai – 600113 has been approved by the Central Government for the purposes of clause (ii) of sub-section (1) of section 35 of the Income Tax Act, 1961, read with rule 6 of the Income tax Rules, 1962 for the period from 1.4.2004 to 31.3.2007 under the category of ‘scientific research association’ (existing solely for research) subject to the following conditions:-
(i) The approved organization shall maintain separate accounts for its research activities.
(ii) For each of the financial years for which the approval is being given, the approved organization shall submit a copy of its audited Income and Expenditure account in respect of the research activities for which it has been approved under sub-section (1) of section 35 of Income Tax Act, 1961 to the Commissioner of Income-tax or Director of Income-tax (Exemptions) having jurisdiction, on or before the due date of filing of return of income or within 90 days from the date of this notification, whichever expires later.
(iii) The approved organization shall also enclose with the Income and Expenditure account referred to in paragraph (ii) above, a certificate from the auditor: –
(a)specifying the amount received by the organization for scientific research in respect of which the donors are eligible to claim deduction under clause (ii) of sub-section (1) of section 35.
(b) certifying that the expenditure incurred was for scientific research.
Note: Condition (i) above will not apply to the organization categorized as “Association”.