TMI BlogExemption u/s 35(1) - Scientific research expenditure - the organization Institute of Seismological Research (ISR), Gandhinagar.X X X X Extracts X X X X X X X X Extracts X X X X ..... approved by the Central Government for the purpose of clause ( ii ) of sub-section (1) of section 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 year 2010-11 and onwards in the category of "Scientific Research Association", engaged in research activities subject to the following conditions namely : ( i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of section 139 of the said Act; ( iv ) The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above. 2. The Central Government shall withdraw the approval if the approved organization : ( a ) fails to maintain ..... X X X X Extracts X X X X X X X X Extracts X X X X
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