Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 8/2/1982
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 :–
(i) That the funds collected by the Institute under this exemption shall be utilized exclusively for promotion of research in social sciences.
(ii) That the Institute shall maintain a separate account of the funds so collected by them under this exemption.
(iii) 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 utilized.
Indian Institute of Psychometry, Calcutta.
This notification takes effect from date of issue of this notification and is valid for three years.
[No. 4463 (F. No. 203/13/82-ITA. II)