For the purpose of Section 35(1)(ii) - organization M/s The Petroleum Conservation Research Association, New Delhi has been approved - 037/2006 - Income Tax

For the purpose of Section 35(1)(ii) - organization M/s The Petroleum Conservation Research Association, New Delhi has been approved NOTIFICATiON NO. 37/2006, DATED 28-2-2006 It is hereby notified for general information that the organization M/s The Petroleum Conservation Research Association, New Delhi 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 1-4-2003 to 31-3-2006 under the category of Institution partly engaged in 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 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 scientific research. [F. No. 203/13/2005-ITA-II]