Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 28/1/1977
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 purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, subject to the following conditions :
(i) That the Institute shall maintain separate accounts of the funds collected by them under the exemption.
(ii) That such funds shall be utilised exclusively for promotion of research in Social Sciences ; and
(iii) That the National Institute of Public Finance and Policy, New Delhi, 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 Public Finance & Policy, New Delhi.
This notification is effective from 1-4-1977 to 31-3-1980.
[No. 1642-F. No. 203/70/76-ITA. II