Section(s) Referred: 35, 35(1), 35(1)(iii)
Statute: INCOME TAX
Date of Issue: 20/2/1982
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 such funds collected by the Rural Unviersity Foundation, Ahmedabad, under this exemption shall be utilised exclusively for promotion of research in social sciences.
2. That the Foundation shall maintain a separate accounts of the funds so collected by them under the exemption.
3. That the Foundation shall send to the Council an annual report and audited statement of accounts regularly showing the funds collected under this exemption and the manner in which these funds are utilized.
The Rural University Foundation, Ahmedabad.
This notification takes effect from the date of its issue and will be valid for a period of three years.
[No. 4482 (F. No. 203/170/81-ITA. II)