Research institution approval under section 35 requires separate accounts, annual returns and audited accounts to tax authorities. Approval is granted to Maharashtra Rajya Draksha Bagaitdar Sangh, Pune as an approved institution under Section 35 for scientific research, subject to conditions: maintain a separate account for research receipts; furnish annual returns of research activities in prescribed forms to the prescribed authority by the annual deadline; and submit audited annual accounts, income and expenditure statements, and balance-sheet to the prescribed authority and the concerned Commissioner of Income-tax within the prescribed timeframe.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35 requires separate accounts, annual returns and audited accounts to tax authorities.
Approval is granted to Maharashtra Rajya Draksha Bagaitdar Sangh, Pune as an approved institution under Section 35 for scientific research, subject to conditions: maintain a separate account for research receipts; furnish annual returns of research activities in prescribed forms to the prescribed authority by the annual deadline; and submit audited annual accounts, income and expenditure statements, and balance-sheet to the prescribed authority and the concerned Commissioner of Income-tax within the prescribed timeframe.
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