Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 3/10/1983
In continuation of this office Notification No. 3421 (F. No. 203/186/78-ITA. II), dated 29-5-80 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 Jhaverbhai Patel Research Centre, Bombay, will maintain a separate account of the sums received by it for scientific research in the field of natural and applied sciences other than agricultural/animal husbandry/fisheries and medicines ;
(ii) That the said Centre 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 to them for this purpose by 30th April, each year ;
(iii) That the said Centre 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.
Jhaverbhai Patel Research Centre, Bombay.
This notification is effective for a period of two years from 1-12-1981 to 30-11-1983.
[No. 5418 (F. No. 203/186/78-ITA. II)]