For the purpose of Section 35(1)(ii) - organization Vision Research Foundation, Chennai has been approved - 359/2006 - Income Tax

For the purpose of Section 35(1)(ii) - organization Vision Research Foundation, Chennai has been approved NOTIFICATION NO. 359/2006, DATED 30-11-2006 It is hereby notified for general information that the organization Vision Research Foundation, Chennai 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 1-4-2006 to 31-3-2009 under the category 'scientific research association' 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 organization shall also enclose with the Income Expenditure account referred to in (ii) above, a certificate from the auditons- (a ) specifying the amount received by the organization for scientific research in respect of which the donors are eligible to claim deduction under section 35 (1)( ii ). ( b ) certifying that the expenditure incurred was for scientific research. [F. No. 203/45/2006-ITA-II]