Section 35(1)(ii) approval for research status requires separate accounts and annual reporting and audited submissions. Approval under section 35(1)(ii) is granted to Development Alternatives as an 'Association' for research-related tax purposes, subject to maintaining separate accounts for scientific research; filing annual returns of research activities to the prescribed authority by 30 April; submitting audited accounts, income and expenditure statements and a balance sheet to the prescribed authority and copies to the Commissioner of Income tax by 30 June; and applying to the Central Board of Direct Taxes three months before expiry for extension.
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 for research status requires separate accounts and annual reporting and audited submissions.
Approval under section 35(1)(ii) is granted to Development Alternatives as an "Association" for research-related tax purposes, subject to maintaining separate accounts for scientific research; filing annual returns of research activities to the prescribed authority by 30 April; submitting audited accounts, income and expenditure statements and a balance sheet to the prescribed authority and copies to the Commissioner of Income tax by 30 June; and applying to the Central Board of Direct Taxes three months before expiry for extension.
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