31. Furnishing of statement of particulars in respect of donation and certificate to donor under section 45(4)(a).–

(1) For the purposes of section 45(4)(a), the deduction in respect of any sum paid to the research association, University, college or other institution referred to in 45(3)(a) or the company referred to in 45(3)(b) shall not be allowed, unless such research association, University, college or other institution or company––

(a) prepares statement in Form No. 15 for each tax year and deliver or cause to be delivered to the Director General of Income-tax (Systems) or the person authorised by him; and

(b) furnish to the donor, a certificate specifying the amount of donation in Form No. 16

(2) The research association, University, college or other institution or company shall, while aggregating the amounts for

determining the sums received for reporting in respect of any person, —

(a) take into account all the donations of the same nature paid by that person during the tax year; and

(b) proportionately attribute the value of the donation or the aggregated value of all the donations to all the persons, in a case where the donation is recorded in the name of more than one person and where no proportion is specified by the donors, attribute equally to all the donors.

(3) The person who is authorised to verify the return of income under section 265 shall verify Form No. 15.

(4) Statement of particulars in Form No. 15 and the certificate to the donor in Form No. 16 shall be furnished on or before the 31st May, immediately following the tax year in which the donation is received.