https://www.taxtmi.com/circulars?id=4799 Section 10(21) exempts income of a scientific research association approved under section 35(1)(ii) when applied solely to the association's purposes; the income need not be spent in the relevant year. The Finance Act, 1983 amended section 10(21) to require post-cut-off contributions to be invested or deposited in prescribed forms and to bring prior investments into the prescribed pattern, and to restrict investments in companies to government companies or statutory corporations. Authorities should issue notices and scrutinise returns to verify compliance. en-us Fri, 19 Oct 1984 00:00:00 +0530 Sat, 02 Aug 2008 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4799 Section 10(21) exempts income of a scientific research association approved under section 35(1)(ii) when applied solely to the association's purposes; the income need not be spent in the relevant year. The Finance Act, 1983 amended section 10(21) to require post-cut-off contributions to be invested or deposited in prescribed forms and to bring prior investments into the prescribed pattern, and to restrict investments in companies to government companies or statutory corporations. Authorities should issue notices and scrutinise returns to verify compliance. Circulars Income Tax Fri, 19 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4799