Section(s) Referred: 35 ,35(1) ,35(1)(iii)
Statute: INCOME TAX
Date of Issue: 31/10/1981
In continuation of this Department’s Notification No. 2773 (F. No. 203/27/79-ITA. II) dated the 24th April, 1979, it is hereby notified for 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 following conditions :
(i) That such funds collected by the Foundation under this exemption shall be utilised exclusively for promotion of research in Social Sciences.
(ii) That the Foundation shall maintain separate accounts of the funds collected by them under this exemption.
(iii) That the Foundation shall send to the Council annual report and audited statement of accounts regularly showing the funds collected under this exemption and the manner in which these funds are utilised.
The Times Research Foundation, Bombay.
This notification is effective from 1st April, 1981, to 31st March, 1984.
[No. 4287/F. No. 203/138/81-ITA. II]