Income-tax (2nd Amendment) Rules, 2009- amends in rule 5D and 5E - Conditions under section 35(1)(ii) and 35(1)(iii) - 02/2009 - Income Tax

Income-tax (2nd Amendment) Rules, 2009- amends in rule 5D and 5E - Conditions under section 35(1)(ii) and 35(1)(iii) NOTIFICATION NO 2/2009, Dated: January 5, 2009 S.O.20(E) - In exercise of the powers conferred by section 295 read with clauses (ii) and (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may be called the Income-tax (2nd Amendment) Rules, 2009. (2) They shall come into force with effect from the 1st day of April, 2009. 2. In the Income-tax Rules, 1962,- (A) in rule 5D ,- (a) after sub-rule (4), the following sub-rule shall be inserted, namely:- "(4A) The scientific research association shall, by the due date of furnishing the return of income under sub-section (1) of section 139, furnish a statement to the Commissioner of Income-tax or Director of Income-tax containing- (i) a detailed note on the research work undertaken by it during the previous year; (ii) a summary of research articles published in national or international journals during the year; (iii) any patent or other similar rights applied for or registered during the year; (iv) programme of research projects to be undertaken during the forthcoming year and the financial allocation for such programme"; (b) in sub-rule (5), in item (c), after the words "scientific research", the words, brackets, figure and letter "or a statement referred to in sub-rule (4A)" shall be inserted; (B) In rule 5E ,- (a) after sub-rule (4), the following sub-rule shall be inserted, namely:- "(4A) The university, college or other institution shall, by the due date of furnishing the return of income under sub-section (1) of section 139, furnish a statement to the Commissioner of Incometax or Director of Income-tax containing- (i) a detailed note on the research work undertaken by it during the previous year; (ii) a summary of research articles published in national or international journals during the year; (iii) any patent or other similar rights applied for or registered during the year; (iv) programme of research projects to be undertaken during the forthcoming year and the financial allocation for such programme"; (b) in sub-rule (5), in item (c), after the words "used for research", the words, brackets, figure and letter "or a statement referred to in sub-rule (4A)" shall be inserted; F.No.142/16/2008-TPL (Anand Kumar Kedia) Director to the Government of India Note.- The principal rules were published in the Gazette of India, Extraordinary, Part-II, section 3, sub-section (ii) vide number S.O. 969(E), dated the 26th March, 1962 and last amended vide number S.O. 2959(E), dated the 23.12.2008.