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Section(s) Referred: 35, 35(1), 35(1)(ii)
Statute: INCOME TAX
Date of Issue: 12/5/1981
In continuation of this Department’s Notification No. 2833, dated 30-5-1979 it is hereby notified for general information that the institution mentioned below has been approved by the Secretary, Department of Science & Technology, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules, 1962, under the category of “Association” in the areas of other natural or applied sciences, subject to the following conditions :
(i) That the Savita Research Centre, Bombay, will maintain a separate account for sums received by it for scientific research in the field of natural and applied sciences other than agriculture/animal husbandry/fisheries and medicines :
(ii) That the said Centre will furnish an annual return of the 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 30th April, each year.
(iii) That the said Centre will submit the annual return and statement of accounts to the Commissioner of Income-tax, for every year.
Savita Research Centre, Bombay.
This notification is effective for a period of three years from 16th December, 1980, to 15th December, 1983.
[No. 3949/F. No. 203/72/81-ITA-II]