Section 35(1)(iii) of the Income-tax Act, 1961 – Scientific research
expenditure – Approved social
science or statistical research or associations or institutions – Approval of Giri Institute of
Development Studies, Lucknow as an organization for purpose of section 35(1)(iii)
Notification No. 99/2009, [F.NO. 203/81/2009/ITA.II), dated 30-12-2009
It is hereby notified for general information that the organization
Giri Institute of Development Studies,
Lucknow has been approved by the Central Government for the
purpose of clause (iii)
of sub-section (1)
of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules,
1962 (said Rules) from Assessment year 2009-2010 onwards in
the category of ‘other Institution’
partly engaged in research activities subject to the following conditions, namely:-
(i) The sums paid to the
approved organization shall be utilized for research in social sciences;
-
The
approved organization shall carry out research in social science or statistical research through
its faculty members or its enrolled students;
(iii) The approved organization shall
maintain separate books of accounts
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 research in social sciences and a copy of such statement duly certified by the
auditor shall accompany the report of audit referred to above.
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The
Central Government shall withdraw the approval if the approved organization:-
-
-
fails
to maintain separate books of accounts
referred to in sub-paragraph (iii) of paragraph
1; or
-
fails
to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or
-
fails
to furnish its statement of the donations received and sums applied for research in
social sciences or statistical research referred to in sub-paragraph (iv) of paragraph 1; or
-
ceases
to carry on its research activities or its research activities are not found to be
genuine; or
-
ceases
to conform to and comply with the provisions of clause (iii) of sub-section (1) of
section 35 of the said Act, read with rules 5C and 5E of the said Rules.