Section
35(1)(ii) of the Income-tax Act, 1961 – Scientific Research Expenditure -
Approved Scientific Research Associations/Institutions - Gujarat Energy Research
and Management Institute, Gandhinagar
Notification No. 37/2013, [F. NO.
203/26/2012/ITA-II], dated 23.05.2013
It is hereby
notified for general information that the organization "Gujarat Energy
Research and Management Institute Gandhinagar (PAN-AAATG6316R) has been
approved by the Central Government for the purpose of clause (ii) of
sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with
Rules 5C and 5D of the Income-tax Rules, 1962 (said Rules), from 01.04.2012
onwards in the category of Scientific Research Association', subject to the
following conditions, namely:—
(i) The sole objective of the
approved 'scientific research association' shall be to undertake scientific
research;
(ii) The approved organization shall
carry out scientific research activity by itself;
(iii) The approved organization shall
maintain separate books of account in respect of the sums received by it for
scientific research, reflect therein the amounts used for carrying out
research, get such books audited by an accountant as defined in the Explanation
to sub-section (2) of section 288 of the said Act, and furnish the report of
such audit duly signed and verified by such accountant to the Commissioner of
Income-tax or the Director of Income-tax having jurisdiction over the case, by
the due date of furnishing the return of income under sub-section (1) of
section 139 of the said Act;
(iv) The approved organization shall
maintain a separate statement of donations received and amounts applied for
scientific research in respect of concerned Departments and a copy of such statement
duly certified by the auditor shall accompany the report of audit referred to
above.
2. The Central
Government shall withdraw the approval if the approved organization:—
(a) fails to maintain separate books
of account referred to in sub-paragraph (iii) of paragraph 1; or
(b) fails to furnish its audit report
referred to in sub-paragraph (iii) of paragraph 1; or
(c) fails to furnish its statement of
the donations received and sums applied for scientific research referred to in
sub-paragraph (iv) of paragraph 1; or
(d) ceases to carry on its research
activities or its research activities are not found to be genuine; or
(e) ceases to conform to and comply
with the provisions of clause (ii) of sub-section (1) of section 35 of the said
Act, read with rules 5C and 5E of the said Rules.
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