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TMI BlogIncome-tax (Twelfth Amendment) Rules, 2006X X X X Extracts X X X X X X X X Extracts X X X X ..... I shall be made, at any time during the financial year immediately preceding the assessment year from which the approval is sought, to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the applicant. (2) Annexure to the application in Form No. 3CF-I shall be filled out if the association claims exemption under clause (21) of section 10 of the Income-tax Act. (3) The applicant shall send a copy of the application in Form No. 3CF-I or, as the case may be, Form No. 3CF-II to Member (IT), Central Board of Direct Taxes accompanied by the acknowledgement receipt as evidence of having furnished the application Form in duplicate in the office of the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case. (4) The period of one year, as specified in the fourth proviso to sub-section (1) of section 35, before the expiry of which approval is to be granted or the application is to be rejected by the Central Government shall be reckoned from the end of the month in which the application Form from the applicant for approval is received in the office of Member (IT), Central Board of Direct Taxes. (5) If any defect is notic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ased its activities or its activities are not genuine or are not being carried out in accordance with all or any of the conditions under rule 5D or rule 5E. (12) No order treating the application as invalid or rejecting the application or withdrawing the approval, shall be passed without giving a reasonable opportunity of being heard to the scientific research association or university or college or other institution. (13) A copy of the order invalidating or rejecting the application or withdrawing the approval shall be communicated to the applicant, the Assessing Officer and the Commissioner of Income-tax or, as the case may be, the Director of Income-tax. Conditions subject to which approval is to be granted to a Scientific Research Association under clause (ii) of sub-section (1) of section 35. 5D. (1) The sole object of the applicant scientific research association shall be to undertake scientific research. (2) The applicant scientific research association shall carry on the scientific research activity by itself. (3) The scientific research association seeking approval under clause (ii) of sub-section (1) of section 35 shall maintain books of account and get such books ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h 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. (4) The university or college or other institution shall maintain a separate statement of donations received and the amount used for research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to in sub-rule (3). (5) If the Commissioner of Income-tax or the Director of Income-tax is satisfied that the university or college or other institution,- (a) is not maintaining separate books of account for research activities, or (b) has failed to furnish its audit report, or (c) has not furnished its statement of the sums received and the sums used for research, or (d) has ceased to carry on its research activities, or its activities are not genuine, or (e) is not fulfilling the conditions subject to which approval was granted to it, he mayafter making appropriate enquiries furnish a report on the circumstances referred to in clauses (a) to (e) above to the Central Governme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mentioned at (i) above have been commercialized or implemented and if so, by whom? (vi) Earnings from patents or registered trade marks, if any. 8. Enclose details of seminars, conferences, workshops and training courses, etc., conducted by the Association during the last three years and a brief note regarding the relevance of such exchanges to the research area or activity carried on by the Association. 9. Programmes contemplated for research in future and financial projections to meet the likely expenditure on such programmes. 10. (i) Sources of income of the Association (for the last three years) (ii) Indicate assessment particulars: (PAN, Ward/Circle, if assessed to tax) (iii) When was the last return of income furnished? 11. Amounts received by the Scientific Research Association and actually applied for research by it during the last three years: Year Amounts received Amounts actually utilized for research out of the amounts at column (2) (1) (2) (3) Donation Grant Total 12. Attach a list of donors giving their names, complete postal addresses and the amounts paid by each of them to the association during the last three years. (Mention PAN of donor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me or any property of the association was used or applied, in a manner which results directly or indirectly in conferring any benefit, amenity or perquisite (whether converted into money ornot) on any interested person. If so, the details thereof. 9. Amount deemed to be income of the association by virtue of section 11(3), as applicable by the first proviso to section 10(21) Certified that the above information is true to the best of my knowledge and belief. Place Date Signature Designation Full Address Form No. 3CF-II [See rules 5C and 5E] Application Form for approval under clause (ii) or clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 in the case of a University, College or other Institution 1. (i) Name and address of the registered office of the applicant. (ii) Enclose a copy of the Trust Deed/Deed of Registration/Memorandum and Articles of Association, and if the university, college or other institution was approved earlier, furnish notification number and date of the latest notification. [Please enclose a copy] (iii) If approval was withdrawn in the past, mention reasons on account of which theapproval was withdrawn. [Enclose a cop ..... X X X X Extracts X X X X X X X X Extracts X X X X
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