Notifications
under section 35(1)(ii) - Public Health Foundation of India/Petroleum
Conservation Research Association notified
It is hereby notified
for general information that the organization Public Health Foundation of India, New Delhi, 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 5C and 5E
of the Income-tax Rules, 1962 (said Rules), from Assessment year 2009-2010 onwards in the category of ‘other
Institution’, partly engaged in research activities subject to the
following conditions, namely:-
(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 5C and 5E of the said Rules.
It is hereby notified
for general information that the organization Petroleum Conservation Research Association, New Delhi, 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 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment year 2009-2010 onwards in the category of ‘other Institution’, partly engaged in
research activities subject to the following conditions, namely:-
(i) The sums paid to the approved
organization shall be utilized for scientific research;
(iii)
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.
3. 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 5C and 5E of the said Rules.