NOTIFICATION NO. 129/2005, DATED 8-4-2005
It is hereby notified for general information that the organization Chennai Mathematical Institute, 92, G.N. Chetty Road, T. Nagar, Chennai-600017 has been approved by the Central Government for the purposes 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 1.4.2002 to 31.3.2005 under the category ‘University, College or other Institution’ partly engaged in research activities (and not as a ‘scientific research association’ existing solely for research) 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 & Expenditure account in respect of the research activities for which it has been approved under sub-section (1) of Section 35 of IT. 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 organization shall also enclose with the Income & Expenditure account referred to in (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 Section 35 (1)(ii).
(b) certifying that the expenditure incurred was for scientific research.