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The Central Government approves the Indian Council of Medical Research for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961. The organization receives approval under the category of Other Institution for scientific research from Assessment year 2019-2020 and onwards. The organization must utilize sums paid for scientific research. Grants or donations extended to non-ICMR institutes are not eligible for the benefit. The organization must maintain separate books of accounts, get them audited by an accountant, and furnish the audit report by the due date of furnishing the return of income.
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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 18th September, 2018
S.O. 4885(E).—It is hereby notified for general information that the organization M/s Indian Council of Medical Research (PAN:- AAEAT4818Q) 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 2019-2020 and onwards under the category of “Other Institution” engaged in research activities subject to the following conditions, namely:-
The Central Government shall withdraw the approval if the approved organization:-
[Notification No. 54/2018/F.No. 203/15/2018-ITA-II] RAJARAJESWARI R., Under Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. ALOK KUMAR Digitally signed by ALOK KUMAR Date: 2018.09.20 16:23:45 +05'30'
