Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 25/10/1980Online GST Certification Course by TaxGuru & MSME- Click here to Join
In continuation of this Department’s Notification No. 2606 (F. No. 203/143/78-ITA. II), dated 12th December, 1978, it is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, 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(ii) of the Income-tax Rules, 1962, under the category of ” scientific research association ” in the field of medical research subject to the following conditions :
(i) That the Association will maintain a separate account of the sums received by it for medical research.
(ii) That the Association will furnish annual return of its scientific research activities to the Council for each year by 31st May each year at the latest in such form as may be laid down and intimated to them for this purpose.
(iii) That the Association will furnish a copy of the annual audited statement of accounts to the Council by 31st May each year and, in addition, send a copy of it to the concerned Income-tax Commissioner.
Nutrition Foundation of India, New Delhi.
This notification is effective for a period of two years from 26th September, 1980, to 25th September, 1982.
[No. 3711/F. No. 203/248/80-ITA-II