Central Government has issued Notification S.O.2807, recognizing the “Eye Research Centre, Madras” as an approved institution under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961. This notification, which continues from a previous notice, allows the Centre to receive tax benefits for scientific research activities, subject to specific conditions including maintaining separate accounts and submitting annual returns and audited accounts to the authorities. The approval is valid for the period from November 26, 1983, to May 31, 1985.
Notification: S.O.2807
Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 7/5/1985
In continuation of this Office Notification No. 4187 (F. No. 203/9/82-ITA. II) dated August 20, 1981, it is hereby notified for general information that the institution mentioned below has been approved by the Department of Science and Technology, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 (Thirty-five/one/two) of the Income-tax Act, 1961, read with rule 6 of the Income-tax Rules, 1962, under the category ” Association ” in the area of other natural and applied sciences, subject to the following conditions :–
(i) That the Eye Research Centre, Madras, will maintain a separate account of the sums received by it for scientific research.
(ii) That the said Association will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 30th April, each year.
(iii) That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax
Institution
” Eye Research Centre, 13, Cathedral Road, Madras-86. ”
This notification is effective for a period from November 26, 1983, to May 31, 1985
[No. 6214 (F. No. 203/237/84-ITA. II)
