Notification No. 71/2005, Dated 7-3-2005
It is hereby notified for general information that the organization Rajiv Gandhi Foundation, Jawahar Bhawan, Dr. Rajendra Prasad Road, Mew Delhi has been approved by the Centra! Government for the period from 1.4.2003 to 31.3.2006, for the purpose of clause (iii) 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 approved organization shall maintain separate set of accounts for its research.
(ii) The approved organization shall submit a copy of audited Income & Expenditure account in respect of its research activities for which it has been approved under sub-section (1) of Section 35 of IT. Act, 1961 to (a) Director General of Income Tax (Exemptions), Vaishali, Ghaziabad (UP) and (b) the Commissioner of Income Tax/Director of Income Tax (E) having jurisdiction over the organization on or before the due date of filing of return of income, in addition to the return of income to the designated assessing officer.
(iii) The organization shall also enclose with the Income & Expenditure account referred to in point No. (ii) above, a certificate from the auditor certifying that the amounts incurred are for scientific research.
Notes: (i) Condition (i) above will not apply to the organization categorized as “Association”.
[F.No.203/2/2005/ITA.II]
