Central Government approved "Hyderabad Science Society, 12-2-460, Mehdipatanarn, Hyderabad - 500 028, A.P." under section 35(1)(ii) - 183/2005 - Income Tax

Central Government approved "Hyderabad Science Society, 12-2-460, Mehdipatanarn, Hyderabad - 500 028, A.P." under section 35(1)(ii) NOTIFICATION No. 183/2005, dated 13-7-2005 It is hereby notified for general information that the organization Hyderabad Science Society, 12-2-460, Mehdipatanarn, Hyderabad - 500 028, A.P. has been approved by the Central Government for the purposes 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 the approval is being given, the approved organization shall submit a copy of itsaudited Income and 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 or 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 and 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. 203/8/2005-ITA-II]