Approval under section 35(1)(ii) requires research associations to keep separate accounts and file annual audited returns. Approval under section 35(1)(ii) of the Income-tax Act is granted to the Society of Indian Plant Taxonomists, Allahabad, as an Association for tax recognition of scientific research, subject to maintaining separate research accounts, filing annual returns of scientific research activities by 30 April each year, and submitting audited annual accounts and balance-sheet to the prescribed authority and the concerned Commissioner of Income-tax by 30 June each year; renewal applications must be filed three months before expiry.
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 associations to keep separate accounts and file annual audited returns.
Approval under section 35(1)(ii) of the Income-tax Act is granted to the Society of Indian Plant Taxonomists, Allahabad, as an Association for tax recognition of scientific research, subject to maintaining separate research accounts, filing annual returns of scientific research activities by 30 April each year, and submitting audited annual accounts and balance-sheet to the prescribed authority and the concerned Commissioner of Income-tax by 30 June each year; renewal applications must be filed three months before expiry.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
