For the purpose of Section 35(1)(ii) - organization M/s. BAIF Development Research Foundation, Urulikanchan, Tal. Haveli, Dist. Pune has been approved - 001/2006 - Income Tax

For the purpose of Section 35(1)(ii) - organization M/s. BAIF Development Research Foundation, Urulikanchan, Tal. Haveli, Dist. Pune has been approved Notification No. 1/2006, Dated 6-1-2006 It is hereby notified for general information that the organization M/s. BAIF Development Research Foundation, Urulikanchan, Tal. Haveli, Dist. Pune-412 202 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, read with Rule 6 of the Income-tax Rules, 1962 for the period from 1-4-2004 to 31-3-2007 under the category University, College or other Institution partly engaged in research activities (and not as a scientific research association existing solely for research) subject to the following conditions: ( i ) The approved organization shall maintain separate accounts for its research activities. ( ii ) For each of the financial years for which this approval is being given, the approved organization shall submit a copy of its audited Income Expenditure account in respect of the research activities for which it has been approved under sub-section (1) of section 35 of Income-tax Act, 1961 to the Commissioner of Income-tax/Director of Income-tax (Exemptions) having jurisdiction, on or before the due date of filing of return of income or within 90 days from the date of this notification, whichever expires later. ( iii ) The approved organization shall also enclose with the Income Expenditure account referred to in paragraph (ii) above, a certificate from the auditor : (a) specifying the amount received by the organization for scientific research/statistical research in respect of which the donors are eligible to claim deduction under clause ( ii ) of sub-section (1) of section 35. (b) certifying that the expenditure incurred was for research in social science/statistical research. [F.No. 203/21/2005-ITA-II]