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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Asiatic Society of Bombay gains tax-exempt status for social science research under Income-tax Act, section 35(1)(iii).</h1> The Asiatic Society of Bombay has been approved by the Indian Council of Social Science Research under section 35(1)(iii) of the Income-tax Act, 1961. This approval allows the Society to collect funds exempt from income tax, provided the funds are used exclusively for social science research. The Society must maintain separate accounts for these funds and submit an annual report to the Council detailing the funds collected and their utilization. This notification is effective from April 1, 1977, to March 31, 1980.
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