Executive Summary:
This notification announces the Central Government's approval of Ms. Thalassemia and Sickle Cell Society, PAN: AAATT4038K, as a Scientific Research Association under Section 35 of the Income-tax Act, 1961, effective from the assessment year 2018-2019. The approval is subject to specific conditions regarding the conduct and reporting of scientific research activities. The notification was issued on November 26, 2018.
Key Points / Main Content:
Approval Details:
* Ms. Thalassemia and Sickle Cell Society approved as a Scientific Research Association.
* Approval is under clause (ii) of subsection (1) of section 35 of the Income-tax Act, 1961, read with Rules 5C and 5D of the Income-tax Rules, 1962.
* Effective from Assessment Year 2018-2019.
Conditions for Approval:
* The sole objective must be to undertake scientific research.
* The organization must conduct the scientific research itself.
* Separate books of accounts must be maintained for scientific research sums.
* Accounts must be audited by a qualified accountant as per Section 288(2) of the Income-tax Act, 1961.
* Audit report, duly signed and verified, must be furnished to the Commissioner or Director of Incometax by the due date for filing income tax returns under Section 139(1) of the Income-tax Act, 1961.
* A separate statement of donations received and amounts applied for scientific research must be maintained.
* The auditor must certify this statement, and it must accompany the audit report.
Withdrawal of Approval:
* The Central Government may withdraw approval if the organization:
* Fails to maintain separate books of accounts.
* Fails to furnish the audit report.
* Fails to furnish the statement of donations and their application.
* Ceases to carry on research activities or its research activities are not genuine.
* Fails to comply with Section 35(1)(ii) of the Income-tax Act, 1961, and Rules 5C and 5D.
Impact Analysis:
Ms. Thalassemia and Sickle Cell Society:
* Impact: Granted approval as a Scientific Research Association, subject to maintaining specific operational and reporting standards.
* Action Required: Comply with all conditions outlined in the notification, including maintaining separate accounts, undergoing audits, and submitting required reports and statements.
Central Board of Direct Taxes (CBDT):
* Impact: Responsible for overseeing compliance with the notification's conditions.
* Action Required: Monitor the organization's adherence to the specified conditions and take action if non-compliance is detected, including potential withdrawal of approval.
Commissioner/Director of Income-tax:
* Impact: Responsible for local oversight of the organization.
* Action Required: Receive and review audit reports and statements, ensuring compliance with the Income-tax Act and Rules.
Auditor:
* Impact: Engagement to conduct the audit for the society
* Action Required: Conduct audit of the society and provide reports to the commissioner/director of income-tax.
Key Entities Referenced
Ministry of Finance: The ministry responsible for the notification.
Department of Revenue: The department within the Ministry of Finance that issued the notification.
Central Board of Direct Taxes: The issuing authority for the notification within the Department of Revenue.
New Delhi: The location where the notification was issued.
Thalassemia and Sickle Cell Society: The organization approved by the Central Government.
Income-tax Act, 1961: The primary legislation referenced in the notification.
Incometax Rules, 1962: The rules associated with the Income-tax Act, 1961.
Scientific Research Association: The category under which the Thalassemia and Sickle Cell Society has been approved.
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धारा 35 क(cid:20) उपधारा (1) के खडं (ii) के (cid:30)योजनाथ(cid:15) ममममससससैैैै सससस (cid:14)(cid:14) (cid:14)(cid:14)थथथथााााललललससससििेेििेेममममययययाााा एएएएंडंडंडंड ििििससससककककलललल ससससललललेेेे ससससोोोोससससााााययययटटटटीीीी,,,, ((((पपपपननननैैैै ःःःः AAAAAAAAAAAATTTTTTTT4444000033338888KKKK)))) नामक
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अनसु ंधान काय& स ेजुड़ े‘‘‘‘‘‘‘‘वववव(cid:22)(cid:22)ैै(cid:22)(cid:22)ैै ााााििििननननकककक अअअअननननससुुससुु धधंंधधंं ाााानननन ससससघघघघंंंं ’’’’’’’’ क(cid:20) )ेणी म "अनमु ो(cid:1)दत (cid:1)कया जाता ह,ै नामत:—
(i) अनमु ो(cid:1)दत वै.ािनक अनुसंधान संघ का एक मा/ उ0े1य वै.ािनक अनसु ंधान करना होगा।
(ii) अनमु ो(cid:1)दत संगठन 2वयं वै.ािनक अनसु ंधान करेगा;
(iii) अनमु ो(cid:1)दत संगठन, वै.ािनक अनुसंधान के िलए इसके (cid:23)ारा (cid:30)ा4 त रािश के संबंध म " अअअअललललगगगग ललललखखेेखखेे ाााा बबबबििििहहहहययययाााा ंंंंरखेगा िजनम "
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अथवा
6885 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
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पाया जाता ह;ै अथवा
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[अिधसूचना स.ं 84/2018/फा. सं. 203/27/2017-आ.क.िन.-II]
रोिहत गग,(cid:15) िनदशे क
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 26th November, 2018
S.O. 5852(E).—It is hereby notified for general information that the organization M/s. Thalassemia
and Sickle Cell Society (PAN:- AAATT4038K) 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 5D of the Income-tax Rules, 1962 (said Rules), from Assessment year 2018-2019 onwards in the
category of ‘Scientific Research Association’, subject to the following conditions, namely:—
(i) The sole objective of the approved ‘Scientific Research Association’ shall be to undertake scientific
research;
(ii) The approved organization shall carry out scientific research by itself;
(iii) The approved organization 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
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 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 separate books of accounts referred to in sub-paragraph (iii) of paragraph 1; or
(b) fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or
(c) fails to furnish its statement of the donations received and sums applied 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 5D of the said Rules.
[Notification No. 84/2018/F. No. 203/27/2017/ITA-II]
ROHIT GARG, Director
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.