Notification No. 21/2011

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_ (TO BE PUBLISHED IN PART I, SUB-SECTION (ii) OF SECTION 3 OF THE GAZETTE OF INDIA)
Government of India |
Oo _ Ministry of Finance | |
| : (Department of Revenue) _
| (Central Board of Direct Taxes) |
| | New Delhi, the 2.6 — April, 2011. oo
Notification | -_ ,
«8.0, It is hereby notified for general information that the organization Chettinad Academy of Research and
Education, Kanchipuram 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), from
_ Assessment year 2010-11 onwards in the category of ‘Other Institution’, partly engaged in research activities subject to the following conditions, namely:- | | | |
(1) The sums paid to the approved organization shall be utilized for scientific research; |
(i) The approved organization shall carry out scientific research through its faculty members or its enrolled students; |
(a1) The approved organization shall maintain separate books of accounts 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 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 a scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above. a :
| 2. The Central Government shall withdraw the approval if the approved organization:- | _ 7
(a) fails to maintain separate books of accounts referred to in sub-paragraph (iil) 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 statement of the donations received and sums applied for scientific research referred to in sub-paragraph (iv) of paragraph 1; or | | ae (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 (1) of sub-section (1) of section 35 of the said |
Act read with rules SC and 5E of the said Rules. |
- one Goyal)
| | | | Director (ITAAID
Notification No. 2-[ /2011 (F.No.203/41/2010/ITA-I1)
To | |
The Manager, | | 7
Govt. of India Press, |
| Mayapuri, New Delhi |
Copy_forwarded to: OO
l, The applicant organisation. Chettinad Academy of Research and Education, IT Corridor, Kelambakkam,
Kanchipuram , Tamilnadu | |
, 2. The Director General of Income Tax (Exemptions), New Delhi |
3. Comptroller & Auditor General of India. |
4. CCIT Chennai
>. Concerned File | 7 ,
6. Ministry of Law & Justice (Correction Section), New Delhi. * 7
7. DIT(Systems), New Delhi, for placing on the website incometaxindia.gov.in |
| 8. Guard file. (PAN AAATC8714H) |
: 9. ITCC, CBDT (4 copies) |
TN] eee ty) 7 (Ajay Goyal)
he 3 bree FEE LEE Mf Director (ITA.ID |
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