PART IV
TAX EXEMPTIONS AND RELIEFS
Prescribed authority for approving any institution or body established for scientific research.
16A. For the purposes of sub-clause (viia) of clause (6) of section 10, the “prescribed authority” shall be the Secretary, Department of Scientific and Industrial Research, Government of India :
Provided that every case pending on or before the 1st day of June, 1982, with any authority, other than the said Secretary, shall stand transferred to the said Secretary for disposal.
Prescribed authority for the purposes of clauses (8A) and (8B) of section 10.
16B. For the purposes of clauses (8A) and (8B) of section 10, the “prescribed authority” shall be the Additional Secretary, Department of Economic Affairs in the Ministry of Finance, Government of India in concurrence with Member (Income-tax) of the Board.
Requirements for approval of a fund under section 10(23AAA).
16C. (1) The fund shall be formed under a trust and it shall be evidenced by a trust deed.
(2) The contributions to the fund are to be made by the employees by way of periodical subscription.
(3) The application for approval of any fund under clause (23AAA) of section 10 shall be made in Form No. 9 to the Commissioner having jurisdiction over the area or territory in which the accounts are kept and such application shall be accompanied by the documents mentioned therein.
(4) Where the Commissioner is satisfied that all the conditions laid down in clause (23AAA) of section 10 are fulfilled in the case of the fund, he shall record such satisfaction in writing and grant approval to the fund specifying the assessment year or years for which the approval is valid so however that such approval shall, at one time, have effect for such assessment year or years not exceeding three assessment years.
(5) Where the Commissioner is satisfied that one or more of the conditions laid down in clause (23AAA) of section 10 are not fulfilled, he shall reject the application for approval, after recording the reasons for such rejection in writing :
Provided that no order of rejection of an application shall be passed without giving an opportunity of being heard.
*Form of report of audit prescribed under tenth proviso to section 10(23C).
[16CC. The report of audit of the accounts of a fund or trust or institution or any university or other educational institution or any hospital or other medical institution which is required to be furnished under the tenth proviso to clause (23C) of section 10 shall be in Form No. 10BB.]
Form of report for claiming deduction under section 10A.
16D. The report of an accountant which is required to be furnished by the assessee along with the return of income, under sub-section (5) of section 10A shall be in Form No. 56F.