The Foundation for
Research in Community Health, Mumbai approved as
an institution for the purpose of section 35(1)(ii) of IT Act, 1961
It is hereby notified for general information that the
organization The Foundation for Research
in Community Health, Mumbai 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 (said Act), read with Rules
(i) The sums
paid to the approved organization shall be utilized for scientific research;
(ii)
The approved organization
shall carry out scientific research through its faculty members or its enrolled
students;
(iii) The approved organization
shall maintain separate books of
accounts in respect of the sums received by it for scientific research,
reflect therein the amounts used for carrying out research, get such books
audited by an accountant as defined in the explanation to sub-section (2) of
section 288 of the said Act and furnish the report of such audit duly signed
and verified by such accountant to the Commissioner of Income-tax or the
Director of Income-tax having jurisdiction over the case, by the due date of
furnishing the return of income under sub-section (1) of section 139 of the
said Act;
(iv) The approved organization
shall maintain a separate statement of
donations received and amounts applied for scientific research and a copy
of such statement duly certified by the auditor shall accompany the report of
audit referred to above.
2.
The Central
Government shall withdraw the approval if the approved organization:-
(a)
fails to
maintain separate books of accounts
referred to in sub-paragraph (iii) of paragraph 1; or
(b)
fails to
furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or
(c)
fails to
furnish its statement of the donations received and sums applied for scientific
research referred to in sub-paragraph (iv) of paragraph 1; or
(d)
ceases to carry
on its research activities or its research activities are not found to be
genuine; or
(e)
ceases to
conform to and comply with the provisions of clause (ii) of sub-section (1) of
section 35 of the said Act read with
rules