Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 10/4/1987
It is hereby notified for general information that the perpetual approval granted under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, to the following institution, vide Ministry of Finance, Notification No. 107 (F. No. 10/46/66-IT(AI)) dated 23-9-1967, is hereby converted into time-bound approval valid up to 31-3-1987 subject to the following conditions :—
(i) That the Tuberculosis Association of India, New Delhi, will maintain a separate account of the sums received by it for scientific research.
(ii) That the said Association will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 31st May, each year.
(iii) That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax and the Central Board of Direct Taxes, New Delhi.
(iv) That the said Association will amend the rules regarding investment to be in conformity with the provisions of section 11(5) of the Income-tax Act, 1961.
(v) That the said Association will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
” The Tuberculosis Association of India, Red Cross Road, New Delhi-110 001. “
[No. 7245 (F. No. 203/211/86-ITA.II)]