Exemption u/s 35(1) - Scientific research expenditure -Organization American Institute of Indian Studies, New Delhi.

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....the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from assessment year 2011-12 onwards in the category of 'Other Institution', partly engaged in research activities subject to the following conditions, namely:- (i) The sums paid to the approved organization shall be utilized f....

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....oved organization shall maintain a separate statement of donations received and amounts applied for research in social science and a copy of such statement duly certified by the auditor shall accompany the report or audit referred to above. 2. The Central Government shall withdraw the approval if the approved organization:- (a) fails to maintain separate books of account referred to in sub-para....