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[Notification No. 49/2022/F.No.370142/6/2022-TPL] [Notification No. 85/2022/F. No. 300196/17/2022-ITA-I]

(TO BE PUBLISHED IN PART II, SUB-SECTION (ii) OF SEC TION 3 OF THE GAZETTE OF INDIA)

Government of India
Ministry of Finance
(Department of Revenue)

(Central Board of Direct Taxes)

New Delhi, the J January, 2020

Text Box: M/s Indian Institute of Technology (Indian
Central Government for the purpose of clause read with Rules 5C and 5E of the Income-tax the category of “University, College or other
Notification

S.O.  It is hereby notified for general information that the organization

School of Mines), Dhanbad (PAN:- AAAAI0686D) has been approved by the

  • /(iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act),

Rules, 1962 (said Rules), from Assessment year 2019-2020 and onwards under Institution”, subject to the following conditions, namely:-

  • The sums paid to the approved organization shall be used for scientific research and research in social science or statistical research;
  • The approved organization shall carry out scientific research, research in social science or statistical research through its faculty members or its enrolled students;
  • The approved organization shall maintain separate books of accounts in respect of the sums received by it for scientific research and research in social science or statistical 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;
  • The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and research in social science or statistical research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.
  • The approved organization shall, by the due date of furnishing the return of income under sub-section (1) of section 139, furnish a statement to the Commissioner of Income-tax or Director of Income-tax containing-
  • a detailed note on the research work undertaken by it during the previous year;
  • a summary of research articles published in national or international journals during the year;
  • any patent or other similar rights applied for or registered during the year;
  • programme of research projects to be undertaken during the forthcoming year and the financial allocation for such programme.

2. The Central Government shall withdraw the approval if the approved organization:-

  • fails to maintain separate books of accounts referred to in sub-paragraph (iii) of paragraph 1; 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 1; or a statement referred in sub-paragraph(v) of paragraph 1 ;or
  • ceases to carry on its research activities or its research activities are not found to be genuine; orc)           ceases to conform to and comply with the provisions of clause (ii)/clause(iii) of sub-section (1) of section 35

of the said Act read with rules 5C and 5E of the said Rules.

(Rajarajcswari R.)

Under Secretary to the Government of India

Notification No. 2- /2020 (F.No.203/07/2019/IT A-II)

ToThe Manager.

Govt, of India Press, Mayapuri, New Delhi

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