For the purpose of Section 35(1)(ii) - organization M/s Indian Institute of Science has been approved - 017/2004 - Income Tax

For the purpose of Section 35(1)(ii) - organization M/s Indian Institute of Science has been approved Notification No. 17 of 2004, dt. 12th Jan., 2004 It is hereby notified for general information that the organisation mentioned below has been approved by the Central Government for the period mentioned below, 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 under the category "University" subject to the following conditions:- i) The notified University shall maintain separate books of accounts for its research activities; ii) The notified University shall furnish the Annual Return of its scientific research activities to the Secretary, Department of Scientific Industrial Research, Technology Bhawan', New Mehrauli Road, New Delhi - 110016 for every financial year on or before 31st May of each year; iii) The notified University shall submit, oh behalf of the Central Government, to (a) the Director General of Income tax (Exemptions), 10 Middleton Row, 5th Floor, Calcutta-700071 (b) the Secretary, Department of Scientific Industrial Research, and (c) the Commissioner of income tax/Director of Income tax (Exemptions) having jurisdiction over the organisation, on or before the 31st October each year, a copy of its audited Annual Accounts and also a copy of audited Income Expenditure Account in respect of its research activities for which exemption was granted under sub-section (1) of section 35 of Income tax Act, 1961 in addition to the return of income tax to the designated assessing officer. S. No. Name of the organisation approved Period for which Notification is effective 1. M/s Indian Institute of Science, Science Institute Post Office, Bangalore-560012 1.4.2001 to 31.3.2004 Notes: The notified University is advised to apply in triplicates as well in advance for renewal of the approval, to the Central Government through the Commissioner of Income tax/Director of Income tax (Exemptions) having jurisdiction. Three copies of the application for renewal of approval shall also be sent directly to the Secretary, Department of Scientific and Industrial Research. F.No.203/10/2003-ITA.II