Section(s) Referred: r. 6 ,s. 35(1)(ii)
Statute: INCOME TAX
Date of Issue: 27/7/2000
It is hereby notified for general information that the organisations mentioned below has been approved by the prescribed authority under rule 6 of the Income-tax Rules, 1962, for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, under the category “Institution” subject to the following conditions :—
Online GST Certification Course by TaxGuru & MSME- Click here to Join
(i) The Organisation will maintain separate books of account for its research activities ;
(ii) It will furnish the annual return of its research activities to the Secretary, Department of Scientific and Industrial Research, “Technology Bhawan”, New Mehrauli Road, New Delhi-110 016 for every financial year by 31st May of each year ;
(iii) It will submit to the (a) the Director-General of Income-tax (Exemptions) (b) the Secretary, Department of Scientific and Industrial Research and (c) the Commissioner of Income-tax /Director of Income-tax (Exemptions), having jurisdiction over the Organisation by the 31st October, each year, a copy of its audited annual accounts and also a copy of audited income and expenditure account in respect of its research activities for which exemption was granted under sub-section (1) of section 35 of Income-tax Act, 1961.
NAME OF THE ORGANISATION
Vedhshala, Naranpura Railway Crossing, Ahmedabad-380 013.
This notification is effective for the following period from 1-4-1998 to 31-3-1999.
[Notification No. 2082/F. No. DG/G-32/35(1)(ii)/90-IT(E)]