Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 16/6/1980Online GST Certification Course by TaxGuru & MSME- Click here to Join
In continuation of this Department’s notification No. 2187 (F. No. 203/13/78-ITA. II), dated 25th February, 1978, it is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, 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(ii) of the Income-tax Rules, 1962, under the category of “scientific research association” in the field of Medical Research subject to the following conditions :–
(i) That the Centre will maintain a separate account of the sums received by it for medical research.
(ii) That the Centre will furnish annual returns of its scientific research activities to the Council for each year by 31st May, each year at the latest in such form as may be laid down and intimated to them for this purpose.
(iii) That the Centre will furnish an annual audited statement of accounts to the Council for each year by 31st May, each year and in addition send a copy of it to the concerned Income-tax Commissioner.
Institution (Scientific Research Association)
Diabetes Research Centre, Madras.
This notification is effective for a further period of 3 years from 21-2-1980 to 20-2-1983.
[No. 3474 (F. No. 203/155/80-ITA. II)