Approved institution status under tax provision requires separate research accounts and annual audited returns to authorities. Approval is granted to Schizophrenia Research Foundation (India) as an approved institution under clause (ii) of sub section (1) of section 35 of the Income tax Act, categorised as an 'Association,' effective 26 03 1984 to 31 03 1986. Conditions require the Foundation to maintain a separate account for scientific research receipts, furnish annual returns of research activities to the prescribed authority by 30 April, and submit audited annual accounts and balance sheet to the prescribed authority and the concerned Commissioner by 30 June each year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Approved institution status under tax provision requires separate research accounts and annual audited returns to authorities.
Approval is granted to Schizophrenia Research Foundation (India) as an approved institution under clause (ii) of sub section (1) of section 35 of the Income tax Act, categorised as an "Association," effective 26 03 1984 to 31 03 1986. Conditions require the Foundation to maintain a separate account for scientific research receipts, furnish annual returns of research activities to the prescribed authority by 30 April, and submit audited annual accounts and balance sheet to the prescribed authority and the concerned Commissioner by 30 June each year.
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