The Government has amended Rules 5D and 5E pertaining to conditions for approval to a scientific research association u/s 35(1)(ii) or to a university, college or other institution u/s 35(1)(ii)/(iii), to provide that such association shall, by the due date of furnishing the return of income u/s 139(1), furnish a statement to CIT/DIT containing (i) a detailed note on the research work undertaken by it during the previous year; (ii) a summary of research articles published in national or international journals during the year; (iii) any patent or other similar rights applied for or registered during the year; (iv) programme of research projects to be undertaken during the forthcoming year and the financial allocation for such programme.
Additional statement to be furnished for approval u/s 35
The Government has amended Rules 5D and 5E pertaining to conditions for approval to a scientific research association u/s 35(1)(ii) or to a university, college or other institution u/s 35(1)(ii)/(iii), to provide that such association shall, by the due date of furnishing the return of income u/s 139(1), furnish a statement to CIT/DIT containing (i) a detailed note on the research work undertaken by it during the previous year; (ii) a summary of research articles published in national or international journals during the year; (iii) any patent or other similar rights applied for or registered during the year; (iv) programme of research projects to be undertaken during the forthcoming year and the financial allocation for such programme.