Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 10/12/1976
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, subject to the fulfilment of the following conditions :–
(i) That the National Institute of Motivational and Institutional Development, Bombay, shall maintain separate accounts of the funds collected by them under the exemptions ;
(ii) That such funds shall be utilised exclusively for promotion of research in Social Sciences ; and
(iii) That the Institute shall send an annual report to the Indian Council of Social Science Research, New Delhi, showing the funds collected under the exemption and the manner in which the funds were utilised.
National Institute of Motivational & Institutional Development, Bombay.
This notification is effective for a period of two years from the date of this notification.
[No. 1578–F. No. 203/134/75-ITA. II