2295 : Notification: S.O.2295 Date of Issue: 24/5/1980

Notification: S.O.2295 Date of Issue: 24/5/1980

Notification: S.O.2295

Section(s) Referred: 35 ,35(1) ,35(1)(iii)

Statute: INCOME TAX

Date of Issue: 24/5/1980

It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, subject to the following conditions :--

1. This exemption would apply only to that part of the Institute's activities which directly relate to independent social science research undertaken by it.

2. That the funds collected by the Institute of Marketing and Management under this exemption shall be utilized exclusively for promotion of research in social sciences.

3. That the Institute of Marketing and Management shall maintain separate accounts of the funds so collected by them under this exemption.

4. That the Institute of Marketing and Management shall send an annual report and audited accounts regularly to the Indian Council of Social Science Research, New Delhi, showing the funds collected under this exemption and the manner in which these funds are utilized.

Institution

The Institute of Marketing and Management, New Delhi.

This notification is effective for a period of 3 years from 1st April, 1980, to 31st March, 1983.

[No. 3400/F. No. 203/136/80-ITA. II