Income-tax (Second Amendment) Rules, 2009 - Amendments in rule 5D and 5E

NOTIFICATION NO. 2/2009, DATED 5-1-2009

In exercise of the powers conferred by section 295 read with clauses (ii) and (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:

1. (1) These rules may be called the Income-tax (2nd Amendment) Rules, 2009.

(2) They shall come into force with effect from the 1st day of April, 2009.

2. In the Income-tax Rules, 1962,

(A) in rule 5D,-

(a) after sub-rule (4) the following sub-rule shall be inserted, namely:

(4A) The scientific research association 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 -

(i) a detailed note on the research work undertaken by it during the previous year;

(ii) a summary of research articles published in national or international journals during the year;

(iii) any patent or other similar rights applied for or registered during the year;

(iv) programme of research projects to be undertaken during the forthcoming year and the financial allocation for such programme";

(b) in sub-rule (5), in item (c), after the words "scientific research", the words, brackets, figure and letter "or a statement referred to in sub-rule (4 A)" shall be inserted;

(B) in rule 5E,-

(a) after sub-rule (4), the following sub-rule shall be inserted, namely:

(4A) The university, college or other institution 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 -

(i) a detailed note on the research work undertaken by it during the previous year;

(ii) a summary of research articles published in national or international journals during the year;

(iii) any patent or other similar rights applied for or registered during the year;

(iv) programme of research projects to be undertaken during the forthcoming year and the financial allocation for such programme";

(b) in sub-rule (5), in item (c), after the words "used for research", the words, brackets, figure and letter "or a statement referred to in sub-rule (4A)" shall be inserted.