Section(s) Referred: 35 ,35(1) ,35(1)(ii)
Statute: INCOME TAX
Date of Issue: 14/1/1981
It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, 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(ii) of the Income-tax Rules, 1962, under the category of “scientific research association” in the field of Medical Research subject to the following conditions :—
(i) That the Association will maintain a separate account of the sums received by it for medical research.Online GST Certification Course by TaxGuru & MSME- Click here to Join
(ii) That the Association will furnish annual returns of its scientific research activities to the Council by 31st May, each year, at the latest in such form as may be laid down and intimated to them for this purpose.
(iii) That the Association will furnish an annual audited statement of accounts to the Council of each year and in addition send a copy of it to the concerned Income-tax Commissioner.
Medical Education and Research Foundation of the Association of Surgeons of India, Madras.
This notification is effective for a period of 3 years with effect from 27-12-1980 to 26-12-1983.
[No. 3792/F. No. 203/1/81-ITA. II