Banasthali Vidyapith College granted tax exemption under section 35(1)(ii) for scientific research activities for three years.

The notification announces the approval of Banasthali Vidyapith College of Arts and Science, Rajasthan, for tax exemption under section 35(1)(ii) of the Income-tax Act, 1961. This approval, granted by the Secretary of the Department of Science & Technology, is valid for three years starting from April 1, 1976. The college must submit annual reports of its scientific research activities by April 30 each year and maintain separate accounts for funds received for research in natural and applied sciences, excluding agriculture, animal husbandry, fisheries, and medicine. The approval can be revoked if the college fails to conduct scientific research.

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