Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: due date for vat payment :: TDS :: ACCOUNTING STANDARD :: VAT Audit :: ACCOUNTING STANDARDS :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: cpt :: TAX RATES - GOODS TAXABLE @ 4%
 
 
Latest Circulars »
  Basel III Framework on Liquidity Standards Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards
 Master Direction - Lending to Micro, Small & Medium Enterprises (MSME) Sector
  Master Circular Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India
 Master Circular Mobile Banking transactions in India Operative Guidelines for Banks
 Master Circular - Credit facilities to Scheduled Castes (SCs) & Scheduled Tribes (STs)
 Master Circular - Deendayal Antyodaya Yojana- National Urban Livelihoods Mission (DAY-NULM)
 Amendment to Master Direction on KYC Operationalisation of Central KYC Registry (CKYCR) and KYC norms for Foreign Portfolio Investors (FPIs)
 Master Direction on Money Market Instruments: Call/Notice Money Market, Commercial Paper, Certificates of Deposit and Non-Convertible Debentures (original maturity up to one year)
 Master Direction - Priority Sector Lending Targets and Classification
 Master Direction - Regional Rural Banks - Priority Sector Lending Targets and Classification
 Exchange of Pre-2005 Banknotes at Select Offices of RBI from July 01, 2016

Income-tax Act, 1961 - NOTIFICATION NO. 57/2009
July, 29th 2009

Section 35(1)(ii) of the Income-tax Act, 1961 Scientific research expenditure Approved scientific research associations/institutions

NOTIFICATION NO. 57/2009, Dated 9-7-2009

It is hereby notified for general information that the organization Eye Research Centre, Chennai 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), with effect from 1-4-2009 in the category of other Institution, partly engaged in research activities subject to the following conditions, namely:-

(i)The sums paid to the approved organization 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 organization shall maintain separate books of account 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)To approved organization 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.

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

(a)fails to maintain separate books of accounts referred to in sub-paragraph (iii) of paragraph 1; or

(b)fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or

(c)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

(d)ceases to carry on its research activities or its research activities are not found to be genuine; or

(e)ceases to conform to and comply with the provisions of clause (ii) of sub-section (1) of section 35 of the said Act read with rules 5C and 5E of the said Rules.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions