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The Central Government approves the Indian Institute of Science Education and Research, Kolkata, for section 35(1)(ii) of the Income-tax Act, 1961, under the category of University, College or other Institution engaged in research activities. The approval applies from Assessment year 2018-2019 and onwards. The approved organization must use the received sums for scientific research through its faculty members or enrolled students. The organization must maintain separate books of accounts and a separate statement of donations. The organization must get the books audited by an accountant and furnish the audit report and statement to the Commissioner of Income-tax or the Director of Income-tax by the due date of furnishing the return of income. The Central Government withdraws the approval if the organization fails to meet these conditions or ceases genuine research activities.
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राजाराजTरी आर., अवर सिचव MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 30th May, 2018
S.O. 2289(E).— It is hereby notified for general information that the organization M/s Indian Institute of Science Education and Research, Kolkata (PAN:- AAAAI2170E) 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 2018-2019 and onwards under the category of “University, College or other Institution” engaged in research activities subject to the following conditions, namely:-
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[Notification No. 25/2018/F. No. 203/10/2017-ITA-II] RAJARAJESWARI R., Under Secy.
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