Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 22/7/1983
In continuation of this office notification No. 2639 (F. No. 203/165/78-ITA. II) dated 6-1-1979, it is hereby notified for general information that the institution mentioned below has been approved by the Department of Science and 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 read with rule 6 of the Income-tax Rules, 1962, under the category “Association” in the area of other natural and applied sciences subject to the following conditions :—
(i) That the Birla Vishvakarma Mahavidyalaya, Vidyanagar, will maintain a separate account of the sums received by it for scientific research in the field of natural and applied sciences other than Agriculture/Animal husbandry/Fisheries and medicines.
(ii) That the said college will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated them for this purpose by 30th April, each year.
(iii) That the said college will submit their annual accounts showing their total income and expenditure as also a copy of their balance-sheet showing its assets and liabilities to the concerned Commissioner of Income-tax by 30th June, each year.
Birla Vishvakarma Mahavidyalaya, Vidyanagar.
This notification is effective for a period of three years from 13-11-81 to 12-11-1984.
[No. 4822 (F No. 203/125/82-ITA. II)]