Section(s) Referred: 35, 35(1), 35(1)(ii)
Statute: INCOME TAX
Date of Issue: 13/7/1982
In continuation of this Department’s Notification No. 2593 (F.No.203/164/78-ITA. II), dated 23-11-1978, it is hereby notified for general information that the institution mentioned below has been approved by 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 Society will maintain a separate account of the sums received by it for medical research.
(ii) That the Society will furnish annual returns of its scientific research activities to the Council 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 Society will furnish a copy of the annual audited statement of accounts of the Council by 31st May, each year, and in addition send a copy of it to the concerned Income-tax Commissioner.
The Society for Prevention of Heart Diseases & Rehabilitation, Bombay.
The notification is effective for a period of three years with effect from 18-9-1980 to 17-9-1983.
[No. 4802/F. No. 203/126/82-ITA. II]