Approval under section 35(1)(ii) requires research institutions to meet strict reporting and audit compliance obligations. Approval under section 35(1)(ii) recognises Shri Chitra Tirunal Institute as an approved institution for research-related tax purposes, subject to maintaining separate accounts for research receipts, filing annual returns of research activities to the prescribed authority by 30th April, submitting audited annual accounts and balance-sheet to the prescribed authority and copies to the concerned Commissioner of Income-tax by 30th June, and applying to the Central Board of Direct Taxes three months before approval 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.
Approval under section 35(1)(ii) requires research institutions to meet strict reporting and audit compliance obligations.
Approval under section 35(1)(ii) recognises Shri Chitra Tirunal Institute as an approved institution for research-related tax purposes, subject to maintaining separate accounts for research receipts, filing annual returns of research activities to the prescribed authority by 30th April, submitting audited annual accounts and balance-sheet to the prescribed authority and copies to the concerned Commissioner of Income-tax by 30th June, and applying to the Central Board of Direct Taxes three months before approval expiry for extension.
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