Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 5/2/1976Online GST Certification Course by TaxGuru & MSME- Click here to Join
It is hereby notified for general information mentioned below has been approved by the Indian Council of Social Science Research, New Delhi, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, subject to the fulfilment of the following conditions :—
(i) That the Indian Institute of Education, Poona, shall maintain separate accounts of the funds collected by them under the exemption.
(ii) That such funds shall be utilised exclusively for promotion of research in social sciences ; and
(iii) That the institute shall send an Annual Report to the Indian Council of Social Science Research showing the funds collected under the exemption and the manner in which the funds were utilised.
Institution Indian Institute of Education, Poona.
This notiification takes effect from 1st April, 1975.