S.R.O. 176(R)/67, dated September 19, 1967

SROS: S.R.O. 176(R)/67, dated September 19, 1967 Charitable Institutions and Funds of the class described in the Schedule S.R.O. 176(R)/67, dated September 19, 1967:- In exercise of powers conferred by sub-section (5) of Section 15D of the Income-tax Act, 1922 (XI of 1922), the Central Board of Revenue, is pleased to specify for the purpose of that sub-section the charitable institutions and funds of the class described in the Schedule below, namely: SCHEDULE 1. Charitable institutions or funds A charitable institution or fund established or maintained for a charitable purpose as defined in sub-section (4) of Section 15D of the Income-tax Act, 1922(XI of 1922): (1) Which has been approved for the purpose by the Central Board of Revenue upon an application made in this behalf in the form set out below ; and (2) Whose constitution specifying the aims and objects provides the following matters unless the Central Board of Revenue waives the requirement of making provision in respect of any such matter, namely: (a) that it shall either be registered under the Societies Registration Act 1860 (XXI of 1860), or the Voluntary Social Welfare Agencies (Registration and Control) Ordinance, 1961 (XLV of 1961), or be trust within the meaning of the Trust Act, 1882(II of 1882); (b) that the Government may appoint, ex-officio, not less than one officer of the Central Government or Provincial Government as a member of the body in which the control of the affairs of the institution or fund vests; (c) that the accounts of the institution or fund shall be fully audited by a Chartered Accountant every year; (d) that such audited accounts shall be submitted to the Income-tax Officer in whose territorial jurisdiction the head office of the institution or fund is situated; (e) that the number of nominated members of the body in which the control of the affairs of the institution or fund vests, if any, shall not exceed one-third of the number of members required to constitute a quorum for a meeting of the body; (f) that where the institution or fund is registered under the Societies Registration Act, 1860, or the Voluntary Social Welfare Agencies (Registration and Control) Ordinance,…