Mandatory filing of returns by Universities, Colleges etc. [Section 139(4D)] :

(1) It will be mandatory for every university, college or other institution referred to in clause

(ii) and clause (iii) of section 35(1), which is not required to furnish its return of income or loss under any other provision of section 139, to furnish its return in respect of its income or loss in every previous year.

(2) All the provisions of the Income-tax Act, 1961 shall apply to such return as if it were a return under section 139(1).