C.B.C.I. Society Bengaluruapproved under section 35 of the Income tax

C.B.C.I. Society Bengaluruapproved under section 35 of the Income tax :M/s C.B.C.I. Society for Medical Education, Bengaluru (PAN:- AAATC0773E) has been approved by the Central Government for the purpose of clause (ii) /clause (iii ) of sub-section ( I ) 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 2018-2019 onwards in the category of ' University, College or other Institution.

(TO BE PUBLISHED IN PART II, SUB-SECTION (ii) OF SECTION 3 OF THE GAZETTE OF INDIA)

Government of India Ministry of Finance (Department of Revenue ) (Central Board of Direct Taxes)

New Delhi, the 27th August, 2018

Notification

S.O. It is hereby notified for general information that the organization M/s C.B.C.I. Society for Medical Education, Bengaluru (PAN:- AAATC0773E) has been approved by the Central Government for the purpose of clause (ii) /clause (iii ) 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 2018-2019 onwards in the category of ' University, College or other Institution ', engaged in research activities, subject to the following conditions , namely :- (i) The sums paid to the approved organization shall be used to undertake scientific research/social science research / statistical research ; (ii) The approved organization shall carry out scientific/social science /statistical research through its faculty members or enrolled students; (iii) The approved organization shall maintain separate books of accounts in respect of the sums received by it for scientific /social science / statistical 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 /social science / statistical research, such donations shall be used exclusively used for core research activity and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above. (v) Donation s being received by the organization under clause (ii)/(iii) of sub-section (1) of section 35 o f the Act, shall be used exclusively for core scientific /social science / statistical research only and not for hospital activities, activities related to treatment of patients, general educational activities (other than research ) or any other object of the organization . (vi) The approved organization shall, by the due date of furnishing the return of income under sub-section (1) of section 139. furnish a statement to the Commissioner of Income-tax or Director of Income-tax containing-

• a detailed note on the research work undertaken by it during the previous year;
• a summary of research articles published in national or international journals during the year;
• any patent or other similar rig ht s applied for or registered during the year;
• programme of research projects to be undertaken during the forthcoming year and the financial allocation for such programme.

2. The Central Government shall withdraw the approval if thc 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 /social science /statistical research referred to in sub-paragraph (iv) of paragraph I ; or (d) ceases to carry on its research activities or its research activities are not found to be genuine; or (e) ceases to confirm to and comply with the provisions of clause (ii)/clause(iii) of sub-section (1) of section 35 of the said Act read with rules 5C and 5E of the said Rules.