TaxTMI 
TaxTMI 
Income-tax (Twelfth Amendment) Rules, 2006
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....ollege or other institution in duplicate in Form No. 3CF-II shall be made, at any time during the financial year immediately preceding the assessment year from which the approval is sought, to the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the applicant. (2) Annexure to the application in Form No. 3CF-I shall be filled out if the association claims exemption under clause (21) of section 10 of the Income-tax Act. (3) The applicant shall send a copy of the application in Form No. 3CF-I or, as the case may be, Form No. 3CF-II to Member (IT), Central Board of Direct Taxes accompanied by the acknowledgement receipt as evidence of having furnished the application Form in duplicate in the office of the Commissioner of Income-tax or the Director of Income-tax having jurisdiction over the case. (4) The period of one year, as specified in the fourth proviso to sub-section (1) of section 35, before the expiry of which approval is to be granted or the application is to be rejected by the Central Government shall be reckoned from the end of the month in which the application Form from the applicant for approval is received in the office of Member ....
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....ific research association or university or college or other institution has ceased its activities or its activities are not genuine or are not being carried out in accordance with all or any of the conditions under rule 5D or rule 5E. (12) No order treating the application as invalid or rejecting the application or withdrawing the approval, shall be passed without giving a reasonable opportunity of being heard to the scientific research association or university or college or other institution. (13) A copy of the order invalidating or rejecting the application or withdrawing the approval shall be communicated to the applicant, the Assessing Officer and the Commissioner of Income-tax or, as the case may be, the Director of Income-tax. Conditions subject to which approval is to be granted to a Scientific Research Association under clause (ii) of sub-section (1) of section 35. 5D. (1) The sole object of the applicant scientific research association shall be to undertake scientific research. (2) The applicant scientific research association shall carry on the scientific research activity by itself. (3) The scientific research association seeking approval under clause ....
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.... of account audited by an accountant, as defined in the Explanation to sub-section (2) of section 288 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. (4) The university or college or other institution shall maintain a separate statement of donations received and the amount used for research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to in sub-rule (3). (5) If the Commissioner of Income-tax or the Director of Income-tax is satisfied that the university or college or other institution,- (a) is not maintaining separate books of account for research activities, or (b) has failed to furnish its audit report, or (c) has not furnished its statement of the sums received and the sums used for research, or (d) has ceased to carry on its research activities, or its activities are not genuine, or (e) is not fulfilling the conditions subject to which approval was granted to it, he mayafter maki....
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.... Other scientific research related details: (i) New products, processes, methods, techniques developed. (ii) Improvements in the existing products, processes, methods, techniques. (iii) Products of import substitution. (iv) Patents filed, obtained, if any, and if so, in whose name? (v) Whether products, processes methods and techniques mentioned at (i) above have been commercialized or implemented and if so, by whom? (vi) Earnings from patents or registered trade marks, if any. 8. Enclose details of seminars, conferences, workshops and training courses, etc., conducted by the Association during the last three years and a brief note regarding the relevance of such exchanges to the research area or activity carried on by the Association. 9. Programmes contemplated for research in future and financial projections to meet the likely expenditure on such programmes. 10. (i) Sources of income of the Association (for the last three years) (ii) Indicate assessment particulars: (PAN, Ward/Circle, if assessed to tax) (iii) ....
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....r and class of shares held Face value of investment Income from investment (1) (2) (3) (4) (5) 5. (i) Is the association carrying on any business (give details) ? (ii) Is the business incidental to the attainment of its object ? (iii) Are separate books of account maintained in respect of such business ? 6. Details regarding the nature, quantity and value of contributions (other than cash and the manner in which such contribution have been utilized). 7. Details of shares, security or other property purchased by or on behalf of the association from: (i) the founder of the association, (ii) any person who has made a contribution exceeding rupees one lakh to the association, (iii) any member of a Hindu undivided family where the Hindu undivided family is a founder, (iv) the manager (by whatever name called) of the association, (v) a relative of the founder, member or the manager, (vi) any concern in which any of the persons referred to in sub-items (i) to (v) has a sub....
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....y other research facility/asset along with cost of acquisition. 5. Research subjects and projects undertaken by the applicant: (i) Research projects completed by the organization during last three years, if any. (ii) Research projects which have been taken up during the year and research projects which are underway from the past years. (iii) Research papers published in any eminent national or international research journal. 6. Other details of scientific research or research in social science or statistical research: (i) New Products, processes, methods, techniques developed. (ii) Improvements inexisting products, processes, methods, techniques. (iii) Import substitution. (iv) Patents filed: obtained, if any, and if so, in whose name? (v) Whether products, processes methods and techniques mentioned at (i) above have been commercialized or implemented and if so, by whom? (vi) New theories/models developed. (vii) New hypothesis which has been widely accepted. (viii) Any copyrights applied for/obtai....