For the purpose of Section 35(1)(ii) - organization M/s Dr. Patani Scientific and Industrial Research, PSIR Building, INGA Complex, Mahakali Road, Andheri (East), Mumbai has been approved - 042/2006 - Income Tax

For the purpose of Section 35(1)(ii) - organization M/s Dr. Patani Scientific and Industrial Research, PSIRBuilding, INGA Complex, Mahakali Road, Andheri (East), Mumbai has been approved NOTIFICATION NO. 42/2006, DATED 7-3-2006 It is hereby notified for general Information that the organization M/s Dr. Patani Scientific and Industrial Research, PSIR Building, INGA Complex, Mahakali Road, Andheri (East), Mumbai-400093 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 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 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. 203/23/2005-ITA-II]