Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 24/6/1981
In continuation of the Department’s Notification No. 2708 (F. No. 203/18/79–ITA–II), dated 2-2-1979, 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 purpose 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 Association will maintain a separate account of the sums received by it for medical research.
(ii) That the Association will furnish annual returns of its scientific research activities to the Council 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 Association will furnish an annual audited statement of accounts to the Council by 31st May each year and in addition send a copy of it to the concerend Income-tax Commissioner.
(iv) Vigorous efforts should be made to complete the construction work at State and shift the activities of the Centre from Modinagar to the new site at Saket as early as possible.
(v) The research activities should be intensified after constructing the building and recruiting more scientific staff.
(vi) No further extension will be allowed unless these two (iv & v) conditions are satisfied during this period of two years (2-1-1981 to 1-1-1983).
Gujarmal Modi Hospital & Research Centre for Medical Sciences, New Delhi.
This notification is effective for a period of 2 years from (2-1-1981 to 1-1-1983).
[No. 4035/F. No. 203/161/80–ITA–II]