Sri Aurobindo Society, Kolkata has been approved for the purpose of section 35(1)(ii) of the Income-tax Act, 1961 - 68/2009 - Income Tax

Sri Aurobindo Society, Kolkata has been approved for the purpose of section 35(1)(ii) of the Income-tax Act, 1961 Notification No. 68/2009 Dated 15-9-2009 S.O. 2618. - It is hereby notified for general information that the organization Sri Aurobindo Society, Kolkata has been approved by the Central Government for the purpose of 1 [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 2 [ social science research ] ; (ii) The approved organization shall carry out 2 [ social science 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 2 [ social science 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 2 [ social science research ] 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 accounts 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 2 [ social science 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 1 [clause (iii)] of sub-section (1) of section 35 of the said Act read with rules 5C and 5E of the said Rules. [F.No. 203/6/2009/ITA-II] ********** Notes 1. Corrected vide CORRIGENDUM dated 24-01-2019 before it was read as clause (ii) 2. Corrected vide CORRIGENDUM dated 24-01-2019 before it was read as scientific research