Notification No : 276
Section(s) Referred : Section 35
Date of Issue : 3/11/2004
Notification No. 276 of 2004, dt. 3rd Nov., 2004
Income Tax Notification No: 276 (03-Nov-04) Approval of Technology Information, Forecasting & Assessment Council (TIFAC), New Delhi for the period 1.4.2000 to 31.3.2003 u/s. 35(1)(ii)
It is hereby notified for general information that the organisation mentioned below has been approved by the Central Government for the period mentioned below, for the purpose 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 under the category “Institution” subject to the following conditions:-
(i) The organization shall maintain separate books of accounts for its research activities;
(ii) The notified organisation shall furnish the Annual Return of its scientific research activities to the Secretary, Department of Scientific & Industrial Research, ‘Technology Bhawan’, New Mehrauli Road, New Delhi-110016 for every financial year on or before 31st May of each year;
(iii) The notified organization shall submit, on behalf of the Central Government, to (a) the Director General of Income tax (Exemption), Aayakar Bhawan, 9th & 10th Floor, Sector 3, Vaishali, Ghaziabad (b) the Secretary, Department of Scientific & Industrial Research, and (c) the Commissioner of Income tax/Director of Income tax (Exemptions) having jurisdiction over the organisation, on or before the 31st October each year, a copy of its Audited Annual Accounts and also a copy of audited Income & Expenditure Account in respect of its research activities for which exemption was granted under subsection (1) of section 35 of Income tax Act, 1961 in addition to the return of income tax to the designated assessing officer.
S. No. Name of the organisation approved Period for which notification is effective
1. Technology Information, Forecasting & Assessment Council (TIFAC), Department of Science & Technology, Technology Bhawan, New Mehrauli Road New Delhi 1.4.2000 to 31.3.2003
Notes: (i) Condition (i) above will not apply to the organization categorized as “Association”.
(ii) The notified organization is advised to apply in triplicates as well in advance for further renewal of the approval, to the Central Government through the Commissioner of Income tax/Director of Income tax (Exemptions) having jurisdiction. Three copies of the application for renewal of approval should also be sent directly to the Secretary, Department of Scientific and Industrial Research.