Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 17/7/1978
It is hereby notified for general information that the institution mentioned below has been approved by the Secretary, the Department of Science & Technology, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act 1961, read with rule 6(iv) of the Income-tax Rules, 1962, under the category ” institution ” in the area of other natural or applied sciences, subject to the following conditions :–
(i) That the Institute of Indian Foundrymen, Calcutta, will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agriculture/animal husbandry/fisheries & medicines) ;
(ii) That the said institute will furnish the annual return of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down intimated to them for this purpose, by 30th April, each year.
The Institute of Indian Foundrymen, Calcutta.
This notification is effective for a period of three years from 9th Febuary, 1978, to 8th Febuary, 1981.
[No. 2409/F. No. 203/21/78–ITA II