It is
hereby notified for general information that the organization Society for
Welfare of the Handicapped Persons, Durgapur, West Bengal 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’), with effect from 1-4-2007 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 account 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 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
account 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.
[F.
No. 203/42/2007/ITA-II]