Research deduction approval requires separate research accounts, annual returns and audited accounts, with timely renewal application. Approval under section 35(1)(ii) of the Income-tax Act was granted to Narinder Mohan Hospital and Research Centre as an Institution, subject to maintaining separate accounts for scientific research; furnishing annual returns of research activities to the prescribed authority by 30th April each year; submitting audited annual accounts and balance-sheet with copies to the concerned Commissioner by 30th June each year; and applying to the Central Board of Direct Taxes for extension three months before expiry. The notification names the Institution's address and states the approval period from 1-4-85 to 31-3-1987.
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.
Research deduction approval requires separate research accounts, annual returns and audited accounts, with timely renewal application.
Approval under section 35(1)(ii) of the Income-tax Act was granted to Narinder Mohan Hospital and Research Centre as an Institution, subject to maintaining separate accounts for scientific research; furnishing annual returns of research activities to the prescribed authority by 30th April each year; submitting audited annual accounts and balance-sheet with copies to the concerned Commissioner by 30th June each year; and applying to the Central Board of Direct Taxes for extension three months before expiry. The notification names the Institution's address and states the approval period from 1-4-85 to 31-3-1987.
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 
