90 : Notification: 90 Date of Issue : 16/4/2003

Notification: 90 Date of Issue : 16/4/2003

Notification No : 90

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

Date of Issue : 16/4/2003

Notification No. 90 of 2003, dt. 16th April, 2003

It is hereby notified for general information that the organisations mentioned below have been approved by the Central Government for the period mentioned against their names, for the purpose of clause (iii) 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 "Institution" subject to the following conditions:

(i) The notified institution shah maintain separate books of accounts for its research activities;

(ii) The notified Institution 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 Institution shall submit, on 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.

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S.No. Name of the Organisation approved Period for which

Notification is effective

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1. M/s Madras School of Economics, 1-4-2002 to 31-3-2005

Gandhi Mandapam Road, Chennai-600 025

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Notes: The notified Institution are advised to apply in triplicates and 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 application for renewal of approval shall also be sent directly to the Secretary, Department of Scientific and Industrial Research.

F.No. 203/21/2003-ITA-II]