Notification No. 58

The text, read by machine from the scan

This is not the department’s typed text. The department published this one as a scanned image of a signed paper, so there is no text in the file to copy. What follows was read off that image by optical character recognition and is reproduced without correction — the mistakes you can see are the machine’s, and there may be others you cannot. It is here so the document can be found and read; it is not a substitute for the file, which is linked below. Do not quote from this page.

(/O BR PUBLISHED IN PART TL SUB-SECTION (i) OF SEO ETON 3 OF THE GAZE] EE OF INDIA) |
|
. \
Government of India
Ministry of Finance
, (Department of Revenue)
(Central Board of Direct Taxes)
New Delhi, the 2046 July, 2010
Notification i

SO, It is hereby notified for general information that the organization Astra Zeneca Research Foundation India,

Bangalore has heen approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of

‘lie tncome-tax Act, 1961 (said Act), read with Rules 5C and SE of the Income-tax Rules, 1962 (said Rules), for the period

1.4.2003 Co 31.3.2006 in the category of ‘Association’, engaged in research activities subject to the following conditions,

aaah: |

|

(1) Phe sums paid to the approved organization shall be utilized for scientific research;

(in The approved organization shall carry out scientific research through its faculty members or its enrolled students;

Win) Fhe approved organization shall maintain separate books of accounts in respect of the sums received by it for scientific research, reflect theretr 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, Vhe 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 [; or (b) fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or (c) fails to furnish its statemeat of the donations received and sums applied for scientific research referred to in sub-paragraph (iv) of paragraph !; or (d) ceases to carry on its research activities or its research activities are not found to be genuine; or tc) ceases 1o conform to and comply with the provisions of clause (ii) of sub-section (1) of section 35 of the said Act read with rules SC and SE of the said Rules.
(Ajay Goyal)
Director (ITA.{D
NotificationNo. SS /2010 (F.No.203/105/2003/1TA-I1)

To
The Manager,

Govt. of India Press,
Mayapuri, New Delhi

Copy. forwarded to:

l. The applicant organisation. Astra Zeneca Research Foundation India, Bangalore

2. The Director General of Income Tax (Exemptions), New Delhi

3. Comptroller & Auditor General of India.

4. CCIT-1, Bangalore \.

5. Concerned File *

o. Ministry of Law & Justice (Correction Section), New Delhi.

7, DIT(Systems), New Delhi, for placing on the website incometaxindia.gov.in ;

8. Guard file.

9, ITCC, CBDT (4 copies) ay NN

R
fl