TMI BlogU/s 35(1) (ii) of IT Act 1961 Central Government approved for organization . M/s Indian Council of Medical ResearchX X X X Extracts X X X X X X X X Extracts X X X X ..... ified for general information that the organization M/s Indian Council of Medical Research (PAN:- AAEAT4818Q) has been 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 2019-2020 and onwards under the categ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ization shall maintain separate books of accounts in respect of the sums received by it for scientific 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplied for scientific research referred to in sub-paragraph (iv) of paragraph 1; or (d) ceases to carry on its research activities or its research activities are not found to be genuine; or (e) ceases to conform to and comply with the provisions of clause (ii) of sub-section (1) of section 35 of the said Act read with rules 5C and 5E of the said Rules. [F.No. 203/15/2018-ITA-II ..... X X X X Extracts X X X X X X X X Extracts X X X X
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