TaxTMI 
TaxTMI 
Income-tax (Fourth Amendment) Rules, 2011
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....shall come into force on the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962 (hereinafter referred to as the said rules), in rule 5C,- (a) the word "scientific", wherever it occurs, shall be omitted; (b) in sub-rule (1) in clause (i) after the words, brackets and letters "clause (ii)", the words, brackets and letters "or clause (iii)" shall be inserted. 3. For the rule 5D of the said rules, the following rule shall be substituted, namely:- "5D. Conditions subject to which approval is to be granted to a research association under clause (ii) or clause (iii) of sub-section (1) of section 35.-(1) The sole object of the applicant research association shall be to undertake ....
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....r or registered during the year; (iv) programme of research projects to be undertaken during the forthcoming year and the financial allocation for such programme. (6) If the Commissioner of Income-tax or the Director of Income-tax is satisfied that the research association,- (a) is not maintaining books of account, or (b) has failed to furnish its audit report, or (c) has not furnished its statement of the sums received and the sums applied for scientific research or research in social science or statistical research or a statement referred to in sub-rule (5), or (d) has ceased to carry on its research activities, or its activities are not genuine, or (e) is not fulfilling the conditions su....
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.... of the Association in-charge of the laboratory/research facility; (iv) Total number of employees engaged in scientific, social or statistical research activity carried on by the Association. 5. List of research facilities or assets owned by the Association: (i) Plant and machinery; (ii) Land and building along with cost of acquisition; (iii) Any other research facility/asset with cost of acquisition. 6. Research subjects and projects undertaken by the Association: (i) Research projects completed by the association during the last three years, if any; (ii) Research projects, which have been taken up during the year and research projects which are underway from the pas....
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....ived by the research association and actually applied for research by it during the last three years: Year Amounts received Amounts actually utilised for research out of the amounts at column (2) (1) (2) (3) Donation Grant Total 12. Attach a list of donors giving their names, complete postal addresses and the amounts paid by each of them to the association during the last three years. (Mention PAN of donors paying the sums in excess of fifty thousand rupees) 13. Enclose the copy of audited annual accounts of the association for the last three years. 14. Investments made out of the amounts not utilised for research during the year mentio....
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....(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 utilised). 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 exceedin....