Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 9/6/1981
In continuation of the office notification No. 2709 (F.No. 203/29/75–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 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, on the following conditions :—
1. That the funds collected by the V. Santaram Motion Picture Scientific Research and Cultural Foundation, Bombay, under this exemption will be utilised exclusively for promotion of research in social science.
2. That the Foundation shall maintain separate accounts of the funds collected by them under the exemption.
3. That the Foundation shall send annual reports to the I.C.S.S.R., New Delhi, showing the funds collected under the exemption and the manner in which the funds were utilised.
V. Santaram Motion Picture Scientific Research and Cultural Foundation, Bombay.
This notification is effective for a period of three years from 1-4-1981 to 31-3-1984.
[No. 4018/F. No. 203/31/81–ITA–II]