NOTIFICATION NO. 66/2006, DATED 14-3-2006
It is hereby notified for general information that the organization M/s. Aeronautical Development Agency, 3F, Hansalaya Building, HAL Liaision Office, 15, Barakhamba Road, New Delhi-110001 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 1-4-2003 to 31-3-2006 under the category ‘Association’ 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 this 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/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;
