Approval for scientific research institution requires separate research accounts and annual audited submissions to tax authorities. Approval is granted to the Consumer Education and Research Centre, Ahmedabad, as an Institution for Income-tax purposes relating to scientific research, subject to conditions: maintain separate accounts for research funds; file annual returns of research activities by 30th April; submit audited accounts and balance-sheet to the prescribed authority and the Commissioner by 30th June; and apply for approval extension to the Central Board of Direct Taxes three months before expiry or risk rejection.
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.
Approval for scientific research institution requires separate research accounts and annual audited submissions to tax authorities.
Approval is granted to the Consumer Education and Research Centre, Ahmedabad, as an Institution for Income-tax purposes relating to scientific research, subject to conditions: maintain separate accounts for research funds; file annual returns of research activities by 30th April; submit audited accounts and balance-sheet to the prescribed authority and the Commissioner by 30th June; and apply for approval extension to the Central Board of Direct Taxes three months before expiry or risk rejection.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
