Date: 2017-01-04Category: Extra OrdinaryState: Union GovernmentCountry: India
It is hereby notified for general information that the organization TATA Translational Cancer Research Centre TTCRC under the aegis of TATA Medical Centre Trust
Executive Summary:
This notification announces the Central Government's approval of the TATA Translational Cancer Research Centre (TTCRC) as a Scientific Research Association under Section 35 of the Income-tax Act, 1961, effective from the assessment year 2016-2017. The approval is subject to specific conditions regarding the nature of research, maintenance of accounts, and auditing. Failure to comply with these conditions may result in withdrawal of the approval.
Key Points / Main Content:
* **Approval:**
* TATA Translational Cancer Research Centre (TTCRC) is approved as a Scientific Research Association.
* Approval is granted under Section 35(1)(ii) of the Income-tax Act, 1961, read with Rules 5C and 5D of the Income-tax Rules, 1962.
* Effective from the assessment year 2016-2017.
* **Conditions for Approval:**
* The sole objective of TTCRC must be to undertake scientific research.
* TTCRC must carry out scientific research by itself.
* TTCRC must maintain separate books of accounts for scientific research, reflecting amounts used for research.
* These books must be audited by a qualified accountant.
* The audit report, signed and verified by the accountant, must be furnished to the relevant Commissioner/Director of Incometax by the due date for income tax return filing under Section 139(1) of the Act.
* TTCRC must maintain a separate statement of donations received and amounts applied for scientific research.
* A copy of this statement, certified by the auditor, must accompany the audit report.
* **Withdrawal of Approval:**
* The Central Government may withdraw approval if TTCRC:
* Fails to maintain separate books of accounts.
* Fails to furnish the audit report.
* Fails to furnish the statement of donations and their application.
* Ceases its research activities or its research activities are not genuine.
* Ceases to comply with Section 35(1)(ii) of the Act and Rules 5C and 5D.
Impact Analysis:
* **TATA Translational Cancer Research Centre (TTCRC):**
* *Impact:* Official recognition as a Scientific Research Association, enabling benefits under Section 35 of the Income-tax Act, 1961, subject to compliance.
* *Action Required:* Ensure compliance with all conditions, including maintaining separate accounts, undergoing audits, and submitting required reports by specified deadlines.
* **Commissioner of Income-tax or the Director of Income-tax:**
* *Impact:* Oversight and monitoring of TTCRC's compliance with the conditions of approval.
* *Action Required:* Receive and review the audit reports and certified statements from TTCRC, ensuring compliance with the Income-tax Act and Rules.
* **Tax Payers/Donors to TTCRC:**
* *Impact:* Donations to TTCRC may be eligible for deductions under the Income-tax Act, subject to TTCRC maintaining its approved status.
* *Action Required:* Verify that TTCRC maintains its approved status to ensure donation eligibility for deductions.
Key Entities Referenced
TATA Translational Cancer Research Centre: An organization approved by the Central Government for scientific research under the Income-tax Act.
TATA Medical Centre Trust: The aegis under which the TATA Translational Cancer Research Centre operates.
Central Government: The governmental body that approved the TATA Translational Cancer Research Centre.
Income-tax Act, 1961: The primary legislation governing income tax in India, referenced for the approval of the research center.
Incometax Rules, 1962: Rules pertaining to the Income-tax Act, 1961, specifically Rules 5C and 5D, which are relevant to the approval.
Central Board of Direct Taxes: A department under the Ministry of Finance responsible for direct tax matters.
Ministry of Finance: The government ministry responsible for financial matters, including taxation.
New Delhi: City in Delhi, place of publication of the notification.
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EXTRAORDINARY
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PART II—Section 3—Sub-section (ii)
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No. 21] NEW DELHI, WEDNESDAY, JANUARY 4, 2017/PAUSA 14, 1938
िव(cid:7004)त म(cid:7074)ं ालय
(राज(cid:7021)व िवभाग)
(के(cid:7008) (cid:7076)ीय (cid:7079)(cid:7004)य (cid:6979) कर बोड(cid:6981))
अिधसचू ना
नई (cid:7408)द(cid:7016) ली, 2 जनवरी, 2017
का.आ. 22(अ).—सव(cid:6981)साधारण क(cid:7409) जानकारी के िलए एत(cid:7375)ारा यह अिधसूिचत (cid:7408)कया जाता ह ै(cid:7408)क के(cid:7008) (cid:7076) सरकार (cid:7367)ारा आयकर
िनयमावली, 1962 (उ(cid:6989) त िनयमावली) के िनयम 5ग और 5घ के साथ प(cid:7407)ठत आयकर अिधिनयम, 1961 (उ(cid:6989) त अिधिनयम) क(cid:7409) धारा
35 क(cid:7409) उपधारा (1) के खंड (ii) के (cid:7079)योजनाथ(cid:6981) कर िनधार(cid:6981) ण वष (cid:6981) 2016-2017 के आग े स े संगठन टाटा मिे डकल सट(cid:7286) र (cid:7069)(cid:7021)ट
(पनै : AABTT 2222Q) के त(cid:7004)व ावधान म(cid:7286) टाटा (cid:7069)ासं लशे नल क(cid:7286)सर (cid:7407)रसच (cid:6981) सट(cid:7286) र (‘टीटीसीआरटी’) को िन(cid:7013) निलिखत शत(cid:7300) के अधीन
वै(cid:6980)ािनक अनसु धं ान स(cid:7021)ं थ ा क(cid:7409) (cid:7088)ेणी म(cid:7286) अनुमो(cid:7408)दत (cid:7408)कया गया ह,ै अथा(cid:6981)त्:-
(i) ‘’वै(cid:6980)ािनक अनुसंधान सं(cid:7021) था‘’ ‘टीटीसीआरटी’ को अनुमो(cid:7408)दत करने का एकमा(cid:7074) उ(cid:7374)े(cid:7019) य वै(cid:6980)ािनक अनुसंधान को आरंभ करना है;
(ii) अनुमो(cid:7408)दत संगठन वै(cid:6980)ािनक अनुसधं ान (cid:7021) वयं करेगा;
(iii) अनुमो(cid:7408)दत संगठन ‘टीटीसीआरसी’ को वै(cid:6980)िनक अनुसंधान के िलए (cid:7079)ा(cid:7009) त रािश के संबंध म(cid:7286) अलग खाता बही रखेगा िजसम(cid:7286) अनुसंधान
करने के िलए (cid:7079)यु(cid:6989) त रािश दशा(cid:6981)ई गई हो, उ(cid:6989) त अिधिनयम क(cid:7409) धारा 288 क(cid:7409) उप धारा (2) के (cid:7021) प(cid:7020) टीकरण म(cid:7286) यथा प(cid:7407)रभािषत (cid:7408)कसी
लेखाकार से अपनी खाता-बही क(cid:7409) लेखा परी(cid:6979)ा कराएगा और उ(cid:6989) त अिधिनयम क(cid:7409) धारा 139 क(cid:7409) उप धारा (1) के अंतग(cid:6981)त आय िववरणी
(cid:7079)(cid:7021) तुत करने क(cid:7409) िनयत ितिथ तक ऐसे लेखाकार (cid:7367)ारा िविधवत स(cid:7004)य ािपत एवं ह(cid:7021) ता(cid:6979)(cid:7407)रत लेखा परी(cid:6979)ा (cid:7407)रपोट(cid:6981) मामले म(cid:7286) (cid:6979)े(cid:7074)ािधकार
रखने वाले आयकर आयु(cid:6989) त अथवा आयकर िनदशे क को (cid:7079)(cid:7021) तुत करेगा;
(iv) अनुमो(cid:7408)दत संगठन ‘टीटीसीआरसी’ को वै(cid:6980)ािनक अनुसंधान के िलए (cid:7079)ा(cid:7385) दान तथा (cid:7079)यु(cid:6989)त रािश का अलग िववरण रखेगा और
उपयु(cid:6981)(cid:6989) त लेखा परी(cid:6979)ा (cid:7407)रपोट(cid:6981) के साथ लेखा परी(cid:6979)क (cid:7367)ारा िविधवत स(cid:7004) यािपत ऐसे िववरण क(cid:7409) (cid:7079)ित (cid:7079)(cid:7021) तुत करेगा।
2. क(cid:7286)(cid:7076) सरकार यह अनुमोदन वापस ले लेगी य(cid:7408)द अनुमो(cid:7408)दत संगठन:-
(क) पैरा(cid:7061)ाफ 1 के उप-पैरा(cid:7061)ाफ (iii) म (cid:7286)उि(cid:7016) लिखत लेखा बही नह(cid:7277) रखेगा; अथवा
(ख) पैरा(cid:7061)ाफ 1 के उप-पैरा(cid:7061)ाफ (iii) म (cid:7286)उि(cid:7016) लिखत अपनी लेखा परी(cid:6979)ा (cid:7407)रपोट(cid:6981) (cid:7079)(cid:7021) तुत नह(cid:7277) करेगा; अथवा
36 GI/2017 (1)(cid:32)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
(ग) पैरा(cid:7061)ाफ 1 के उप-पैरा(cid:7061)ाफ (iv) म(cid:7286) उि(cid:7016) लिखत वै(cid:6980)ािनक अनुसंधान के िलए (cid:7079)ा(cid:7009) त एवं (cid:7079)यु(cid:6989) त दान का अपना िववरण (cid:7079)(cid:7021)त ुत
नह(cid:7277) करेगा; अथवा
(घ) अपना अनुसंधान काय(cid:6981) करना बंद कर दगे ा अथवा इसके अनुसंधान काय(cid:6981) को ठीक नह(cid:7277) पाया जाएगा; अथवा
(ड़) उ(cid:6989) त िनयमावली के िनयम 5ग और 5घ के साथ प(cid:7407)ठत उ(cid:6989) त अिधिनयम क(cid:7409) धारा 35 क(cid:7409) उप-धारा (1) के खंड (iii) के
(cid:7079)ावधान(cid:7298) के अनु(cid:7272)प नह(cid:7277) होगा तथा उनका पालन नह(cid:7277) करेगा।
[अिधसूचना सं. 01/2017/फा. सं. 203/41/2015-आ.क.िन.-II]
अं(cid:7408)कता पांडे, अवर सिचव
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 2nd January, 2017
S.O. 22(E).—It is hereby notified for general information that the organization TATA Translational Cancer
Research Centre (‘TTCRC’) under the aegis of TATA Medical Centre Trust (PAN:- AABTT2222Q) 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 2016-2017 onwards in the
category of ‘Scientific Research Association’, subject to the following conditions, namely:-
(i) The sole objective of the approved ‘Scientific Research Association’ ‘TTCRC’ shall be to undertake scientific
research;
(ii)(cid:32) The approved organization shall carry out scientific research by itself;
(iii) The approved organization shall maintain separate books of accounts for ‘TTCRC’ 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)(cid:32) The approved organization shall maintain a separate statement of donations received and amounts applied for
scientific research for ‘TTCRC’ and a copy of such statement duly certified by the auditor shall accompany the
report of audit referred to above.
2.(cid:32) The Central Government shall withdraw the approval if the approved organization:-
(a)(cid:32) fails to maintain separate books of accounts referred to in sub-paragraph (iii) of paragraph 1; or
(b)(cid:32) fails to furnish its audit report referred to in sub-paragraph (iii) of paragraph 1; or
(c)(cid:32) 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)(cid:32) ceases to carry on its research activities or its research activities are not found to be genuine; or
(e)(cid:32) 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. 01/2017/F. No. 203/41/2015/ITA-II]
ANKITA PANDEY, Under Secy.(cid:32)
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.