notification no. 83/2018 f.no.203/23/2017/ita ii

/ . (TO BE PUBLISHED IN PART II, SUB·SECTION (ii) OF SECTION 3 EXTRA·ORDINA RY OF THE GAZETfE OF INDIA) Government of India Ministry of Fin:lncc (Department of Revenue) (Central Board of Direct Taxes) Notification New Delhi, th e 26 November, 2018 S.D. It is hereby notified for general information that the organization MIs Centre for Brain Research, Bangalore (pAN:AABTC7082K) has been approved by the Central Government for the purpose of clause (ii) of sub·section ( I) of section 35 of the Income·tax Act, 196 1 (said Act), rcad with Rules 5C and 5D of the Income·tax Rules, 1962 (said Rules), from Assessment yea r 2018·2019 onwa rds in the category of 'Scientific Research Association ', subject to the fo llowing conditions, namely:- (i) The sole objective of the approved 'Scientific Research Association' shall be to undertake scientific research; (ii) The approved organization shall carry out scientific research by itself; (iii) 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 carryi ng out research, get such books audited by an accountant as defined in the explanation to sub-section (2) of sec lion 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 ( I) of section 139 of the said Act; (iv) The approved organi7..ation 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. The Central Government shall withdraw the approval if the approved organi7..ation:- (a) (b) (c) (d) ( e) fails to maintain separate books 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 1; 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 carryon its research activities or its research activities are not found to be genuine; or ceases to conform 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 5D of the said Rules. J:a.- (Rohit Garg) Director to Government of India Notification No. 8312018 (f. No.203123/201 7/ITA· 1I) To The Manager, Govt. of India Press, Mayapuri, New Delhi Copy forwarded to; I. 2. 3. 4. 5. 6. 7. The applicant organization, MIs Centre for Brain Research, Bangalore CIT (E), Bangalore Web Manager, New Delhi, for placing on the website incometaxindia.gov.in ITCC, CBDT (4 copies) CCIT (E), New Delhi Concerned file Guard file. (Rohit Garg) Director to Government of Indin