Approved Institution "Gujarmal Modi Institute of Medical Sciences, New Delhi" u/s 35(1)(ii) - S.O.4095 - Income Tax

Approved Institution "Gujarmal Modi Institute of Medical Sciences, New Delhi" u/s 35(1)(ii) NOTIFICATION NO. S.O.4095 DATED 10-9-1986 It is hereby notified for general information that the institution mentioned below has been approved by the Department of Scientific and Industrial Research, New Delhi, the prescribed authority for the purposes of clause ( ii ) of sub-section (1) of section 35 (Thirty-five/one/two) of the Income-tax Act, 1961, read with rule 6 of the Income-tax Rules, 1962, under the category "Association" subject to the following conditions :-- ( i ) That the Gujarmal Modi Institute of Medical Sciences, New Delhi, will maintain a separate account of the sums received by it for scientific research and expenditure made therefrom. ( ii ) That the said Institute will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in the prescribed format. ( iii ) That the said Institute will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the concerned Commissioner of Income-tax. ( iv ) That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected. ( v ) The Institute will pursue only the following programmes :-- --Prevalence of Diabetes in youth--below 15 years. --Screening of Metabolic parameters that predispose to Cardio--Vascular Diseases. --Study of Mechanism of male Contraceptives. ( vi ) That the equipments such as catscan, radiology equipments and nuclear medicine equipments which are primarily meant for medical care will not be pruchased under the provisions of section 35(1)( ii ). ( vii ) The Centre can submit details of any other programme they would like to undertake and obtain clearance from time to time from DSIR. Institution "Gujarmal Modi Institute of Medical Sciences, New Delhi." This notification is effective for a period from 1-8-1986 to 31-3-1988. [No. 6906/F. No. 203/165/84-ITA.II]