Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 20/8/1981
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 the funds collected by the Institute of Development Studies under this exemption shall be utilised exclusively for promotion of research in social sciences ;
2. That the Institute shall maintain separate accounts of the funds so collected by them under this exemption ;
3. That the Institute 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 utilised ; and
4. Since the Institute has an inter-disciplinary focus going beyond social sciences, if it receives any donations or funds for research in fields other than social sciences, it should maintain separate accounts for those donations and their utilization.
Institute of Development Studies, Jaipur.
This notification is effective for a period of 3 years with effect from 15-4-1981.
[No. 4176/F. No. 203/57/81-ITA.II]