Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 10/3/1978
It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, 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 following conditions :—
1. That the funds collected by the Management Development Institute, New Delhi, under this exemption will be utilised exclusively for promotion of research in social sciences.
2. That the Management Development Institute shall maintain separate accounts of the funds collected by them under the exemption.
3. That the Management Development Institute shall send an annual report to the Indian Council of Social Science Research, New Delhi, showing the funds collected under the exemption and the manner in which the funds were utilised.
The Management Development Institute, New Delhi.
The notification will be effective from 1st April, 1978.
[No. 2216 (F. No. 203/8/78-ITA. II)