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Amendment of section 35.

..... after sub-clause (iii), in the Explanation, for the words, brackets and figures,- (A) to which clause (ii) or clause (iii) , the words, brackets, figures and letter to which clause (ii) or clause (iii) or to a company to which clause (iia) shall be substituted; (B) clause (ii) or clause (iii) , the words, brackets, figures and letter clause (ii) or clause (iii) or to a company referred to in clause (iia) shall be substituted; (b) after the fourth proviso occurring after clause (iv), the following provisos shall be inserted, namely:- Provided also that every notification under clause (ii) or clause (iii) in respect of the research association, university, college or other institution or under clause (iia) in respect of the company issued on .....

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..... pares such statement for such period as may be prescribed and deliver or cause to be delivered to the said prescribed income-tax authority or the person authorised by such authority such statement in such form, verified in such manner, setting forth such particulars and within such time, as may be prescribed: Provided that such research association, university, college or other institution or the company may also deliver to the prescribed authority a correction statement for rectification of any mistake or to add, delete or update the information furnished in the statement delivered under this sub-section in such form and verified in such manner as may be prescribed; and (ii) furnishes to the donor, a certificate specifying the amount of do .....

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..... iii) has been withdrawn. It is proposed to amend the said Explanation so as to provide that the assessee shall not be denied the deduction in respect of any sum paid to a company referred to in clause (ii) which it is entitled to, merely on the ground that, subsequent to the payment of such sum, the approval granted to the company has been withdrawn. It is further proposed to insert a new fifth proviso to said sub-section (1) so as to provide that every notification under clause (ii) or clause (iii) in respect of the research association, university, college or other institution or under clause (iia) in respect of the company issued on or before the date on which this proviso comes into effect, shall be deemed to have been withdrawn unless .....

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..... may be prescribed and deliver or cause to be delivered to the prescribed income-tax authority or the person authorised by such authority such statement in such form and verified in such manner and setting forth such particulars and within such time as may be prescribed, and it may also file a correction statement for rectification of any mistake or to add, delete or update the information furnished in the statement delivered under this sub-section in such form and verified in such manner as may be provided by rules; and (b) furnishes to the donor, a certificate specifying the amount of donation in such manner, containing such particulars and within such time from the date of receipt of sum, as may be prescribed. These amendments will take e .....

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