notification 64/2016 f.no. 203/38/2015/ita ii

(TO BE PUBLISHED IN PART II. SUB-SECTION (ii) OF SECTION 3 OF THE GAZETfE OF INDIA) Government of India Ministry of Finance (Department of Reven ue) (Central Board of Direct Taxes) 1"I0tification "i New Delhi, the 2 August, 2016 S.D. It is hereby notified for general information that the organizalion MIs Indian Institute of Science Education and Research, Pune (PAN :- AAAAIIS46E) has been approved by the Celllral Government for the purpose ofclau:;e (U) of sub-section (I) of sec lion 35 of the Income-tax Act. 1961 (said Act), read with Rulcs 5C and 5E of the Income-tax Rules. 1962 (said Rules), from AssesSment year 2017-2018 and onwards tinder the category of "University, College or other Institution" engaged in research activities subject to the following conditions, namely:- (i) The sums paid to the approved organi7.ation shall be utilized for scientific research; (ii) The approved organization shall carry out scientific research through its faculty members or its enrolled students; (iii) The approved organizalion 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 scientific research and a copy of such statement duly cenified by the auditor shall accompany the repon of audit referred to above. 2. The Central Government shall withdraw the approval if the approved organization:- (a) (b) (e) (d) (0) fails to mair.tnin st']la!'::!le bool.:s of accounts referred to in sub-paragraph (iii) of paragraph I; or fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph I; or fails to furnish its statement of the donations received and sums applied for scientific research referred to in sub-paragraph (iv) of paragraph I; or ceases to carry on its research activities or its research activities are not found to be genuine; or ceases to confonn to and comply with the provisions of clause (ii) of sub-section ( I) of section 35 of the said Act read with rules 5C and 5E of the said Rules. '1~\\\o -;t>..\"']Y '\ -/ Notification No.k 12016 (F.No.203f38120 I SIlT A-II) (Rohil Garg) Deputy Secretary to Government of India To The Manager, GoV!. of India Press, Mayapuri, New Delhi t.:QPY forwarded to: I. 2. 3. 4. 5. \~ 7. 8. 9. The applicant organization. MIs Indian Institute of Science Education and Research, Pune. The Chief Commissioner of Income Tax (Exemption), New Delhi. The Comptroller & Auditor General of India. CIT (Exemption),Pune. Ministry of Law & Justice (Correction Section). New Oclhi. Web Manager, New Delhi. for placing on the website incometaxindia.gov.in ITCC. CBDT (4 copies) - Concerned file Guard file. (ROhil Garg) Deputy Secretary to GOl'ernmenl of India