Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 6/8/1976
It is hereby notified for general information that the institution mentioned below has been approved by the Secretary, 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, subject to the fulfilment of the following conditions :–
(i) The Institute of Road Transport, Madras, shall maintain a separate account of the sums received by them for undertaking scientific research in the areas of natural and applied sciences, other than agriculture/animal husbandry/fisheries and medicines.
(ii) The Institute of Road Transport, Madras, will furnish the annual returns of their 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.
The Institute of Road Transport, Madras.
This approval will be valid for a period of three years with effect from 9-4-1976 to 8-4-1979