Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 25/9/1980
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 People’s Institute for Development and Training under this exemption shall be utilized exclusively for promotion of research in social sciences ;
2. That the People’s Institute for Development and Training shall maintain separate accounts of the funds so collected by them under this exemption ; and
3. That the People’s Institute for Development and Training shall send an annual report and statement of accounts regularly to the Indian Council of Social Science Research as well as to the concerned Commissioner of Income-tax, showing the funds collected under this exemption and the manner in which these funds are utilized.
People’s Institute for Development and Training, New Delhi.
This notification is effective for a period of three years from 1st October, 1980, to 30th September, 1983.
[No. 3673/F. No. 203/176/80-ITA. II