Rule 5E - Conditions subject to which approval is to be granted to a University, College or other Institution under clause (ii) and clause (iii) of sub-section (1) of section 35

Universities must use funds for research under Section 35, maintain audited accounts, and submit detailed reports annually.

Approval for universities, colleges, or institutions under section 35 requires funds to be used for scientific or social science research. These entities must conduct research through faculty or students and maintain separate audited accounts for research funds. They must submit an audit report and a certified statement of donations and expenses to the tax authorities by the income return deadline. Additionally, they must provide a detailed research summary, published articles, patents, and future research plans. If compliance issues arise, the tax authorities may report to the government within six months of the income return deadline.