Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 27/9/1971
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 (43 of 1961), up to 31st March, 1974, subject to the following conditions :—
(1) The management of the centre should create a separate fund for the amounts received under this exemption and maintain a separate account for this.
(2) This fund should be utilised only for social science research, the term ” social science research ” defined on the lines of the policy adopted by the Indian Council of Social Science Research from time to time.
(3) A copy of the statement of accounts of this fund and all the reports of the research carried out from it should be submitted to the Indian Council of Social Science Research every year within 3 months of the close of the year.
Centre for Regional Development Studies, Surat