NOTIFICATION NO. 228/2007, DATED 21-8-2007

It is hereby notified for general information that the organization Mudra Foundation for Communication, Research & Education, Ahmedabad has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules, 1962 (said Rules) with effect from 1.4.2004 in the category of ‘other Institution’ partly engaged in research activities subject to the following conditions, namely:-

  (i)  The sums paid to the approved organization shall be utilized for research in social sciences;

 (ii)  The approved organization shall carry out research in social science or statistical research through its faculty members or its enrolled students;

(iii)  The approved organization shall maintain books of accounts and get such books audited by an accountant as defined in the explanation to sub-section (2) of section 288 of the said Act and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under sub-section (1) of section 139 of the said Act;

 (iv)  The approved organization shall maintain a separate statement of donations received and amounts applied for research in social sciences and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.

3. The Central Government shall withdraw the approval if the approved organization:-

 (a)  fails to maintain books of accounts referred to in sub- paragraph (iii) of paragraph 1; or

 (b)  fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or

  (c)  fails to furnish its statement of the donations received and sums applied for research in social sciences or statistical research referred to in sub-paragraph (iv) of paragraph 1; or

 (d)  ceases to carry on its research activities or its research activities are not found to be genuine; or

  (e)  ceases to conform to and comply with the provisions ok clause (iii) of sub-section (1) of section 35 of the said Act, read with rules 5C and 5E of the said Rules.

(F.No.203/17/2005/ITA-II)

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