Section 35(1)(ii) approval requires annual research accounting, reporting by April and audited accounts submission by June. Approval under section 35(1)(ii) subjects the Institute of Medical Sciences, Panjagutta, to conditions: maintain a separate account for research receipts; file annual returns of scientific research activities to the prescribed authority by 30 April; submit audited annual accounts, income and expenditure statements and balance-sheet to the prescribed authority by 30 June with copies to the Commissioner of Income-tax; and apply to the Central Board of Direct Taxes for extension three months before approval expiry.
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.
Section 35(1)(ii) approval requires annual research accounting, reporting by April and audited accounts submission by June.
Approval under section 35(1)(ii) subjects the Institute of Medical Sciences, Panjagutta, to conditions: maintain a separate account for research receipts; file annual returns of scientific research activities to the prescribed authority by 30 April; submit audited annual accounts, income and expenditure statements and balance-sheet to the prescribed authority by 30 June with copies to the Commissioner of Income-tax; and apply to the Central Board of Direct Taxes for extension three months before approval expiry.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
