It is hereby notified for general
information that the organization Chennai Mathematical Institute, 92, G.N.
Chetty Road, T. Nagar, Chennai-600017 has been approved by the Central
Government for the purposes of clause (ii) of sub-section (1) of section
35 of the Income tax Act, 1961, read with Rule 6 of the Income tax Rules, 1962
for the period from 1.4.2002 to 31.3.2005 under the category
'University, College or other Institution' partly engaged in research
activities (and not as a 'scientific research association' existing solely for
research) subject to the following conditions:-
(i) The approved organization shall maintain
separate accounts for its research activities.
(ii) For each of the financial years for which this
approval is being given, the approved organization shall submit a copy of its
audited Income & Expenditure account in respect of the research activities
for which it has been approved under sub-section (1) of Section 35 of IT. Act,
1961 to the Commissioner of Income Tax / Director of Income Tax (Exemptions)
having jurisdiction, on or before the due date of filing of return of income or
within 90 days from the date of this notification, whichever expires later.
(iii) The organization shall also enclose with the
Income & Expenditure account referred to in (ii) above, a
certificate from the auditor: -
(a) specifying the amount received by the
organization for scientific research in respect of which the donors are
eligible to claim deduction under Section 35 (1)(ii).
(b) certifying that the expenditure incurred was
for scientific research.
[F.NO.203/86/2003-ITA-II]