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NOTIFICATION NO. 31/2006, DATED 13-2-2006
It is hereby notified for general information that the organization M/s Electrical Research & Development Association, Mumbai has been approved by the Central Government 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 for the period from 1-4-2001 to 31-3-2004 under the category ‘scientific research association’ (existing solely for research) subject to the following conditions:—
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(i)
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The approved organization shall maintain separate accounts for its research activities.
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(ii)
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For each of the financial years for which this approval is being given, the approved organization shall submit a copy of its audited Income & 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/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.
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(iii)
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The approved organization shall also enclose with the Income and Expenditure account referred to in paragraph (ii) above, a certificate from the auditor:—
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(a)
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specifying the amount received by the organization for scientific research/statistical research in respect of which the donors are eligible to claim deduction under clause (ii) of sub-section (1) of section 35.
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(b)
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certifying that the expenditure incurred was for scientific research.
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