Government of India
Ministry of Finance
(Department of Revenue)
(Central Board of Direct Taxes)
Notification
S.D. It is hereby notified for general information that the organization MIs C.B.C.I. Society for Medical Education, Bengaluru (PAN:- AAATC0773E) has been approved by the Central Government for the purpose of clause (ii)clause (iii) of sub-section (I) ofsection 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment yea r 2018-2019 on wards in the category of ‘University, College or other Institution ‘, engaged in research activities, subject to the following conditions, namely:-
(i) The sums paid to the approved organi zation shall be used to undertake scientifi c research/social science research I statistical research ;
(ii) The approved organization shall carry out scientific/social science/statistical research through its faculty members or enrolled students;
(iii) The approved organization shall maintain separate books of accounts in respect of the sums received by it for scientific Isocial science / 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 fu rnishi ng the return of income under sub-section (I) of section 139 of the said Act;
(iv) The approved o rgani zation shall maintain a separate statement of donations received and amounts applied for scientific Isocial science I statisti cal research, such donations shall be used exclusively used for core research activity and a copy of such statement duly certified by the auditor shall accompany the report of aud it referred to above.
(v) Donations being received by the organization under clause (ii)/(iii) of sub-section (I) of sectio n 35 of the Act, shall be used exclusively for core scientific Isocia l science I statistical research on ly and not fo r hospital activities, activities related to treatment of patients, general educational activities (other than resea rch) or any other object of the organizatio n.
(vi) The approved organi zation shall , by the due date of furnishing the return of income under sub-section (I) 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 appl ied 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 Gove rnment shall withdraw the approval if the approved organization:-
(a) fails to maintain separate books of accounts referred to in sub-paragraph (iii) of paragraph I ; or
(b) fails to furnish its audit report referred to in sub-paragraph (i ii) of paragraph I; or
(C) fails to furnish it’s statement of the donations received and sums applied for scientific /social science/statistical research referred to in sub-paragraph (iv) of paragraph I; o r
(d) ceases to carryon its research activities or its research activities are not found to be genuine; or
(e) ceases to confirm to and comply with the provisio ns of clause (ii)/clause(iii) of sub-section (I) of section 35 of the said Act read with rules 5C and 5E of the said Ru les.