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
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: articles on VAT and GST in India :: empanelment :: form 3cd :: TDS :: VAT RATES :: list of goods taxed at 4% :: due date for vat payment :: Central Excise rule to resale the machines to a new company
 
 
« Latest Circulars »
  Rate of exchange of conversion of each of the foreign currency with effect from 17th April, 2014
  Rate of exchange of conversion of each of the foreign currency with effect from 17th April, 2014
 Rate of exchange of conversion of each of the foreign currency with effect from 17th April, 2014
  Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract
  Seeks to levy provisional anti-dumping duty on imports of 'Sodium Nitrate', originating in, or exported from, the European Union, the People’s Republic of China, Ukraine and Korea RP , for a period of six months
  Amends Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001
  Seeks to amend Notification No. 69/2011-Customs , dated 29th July, 2011 ( India-Japan CEPA)
  Seeks to amend Notification No. 69/2011-Customs, dated 29th July, 2011 ( India-Japan CEPA)
 RBI-Quarterly Order Books, Inventories and Capacity Utilisation Survey: January-March 2014 (Round 25)
 RBI-Foreign Direct Investment (FDI) in Limited Liability Partnership (LLP)
 Scheduled Bank's Statement of Position in India as on Friday, April 4, 2014

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 2014 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