Approval under section 35(1)(iii) grants research-institution recognition subject to separate research accounts, annual returns and audited accounts. Anna Institute of Management, Madras, is approved as an institution for purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, effective 1-1-1986 to 31-3-1988, subject to maintenance of separate research accounts, annual returns of research activities by 30 April, audited annual accounts and balance-sheet submissions by 30 June to the prescribed authority and Commissioner, and advance application to the Central Board of Direct Taxes three months before approval expiry for extension.
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Approval under section 35(1)(iii) grants research-institution recognition subject to separate research accounts, annual returns and audited accounts.
Anna Institute of Management, Madras, is approved as an institution for purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, effective 1-1-1986 to 31-3-1988, subject to maintenance of separate research accounts, annual returns of research activities by 30 April, audited annual accounts and balance-sheet submissions by 30 June to the prescribed authority and Commissioner, and advance application to the Central Board of Direct Taxes three months before approval expiry for extension.
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