Research approval requires separate research accounts, annual returns, audited statements and advance renewal applications to retain tax recognition. Approval of the Society for Research on Haematology and Blood Transfusion, Calcutta, as an approved institution for tax relief for scientific research is granted in the category of an association, subject to maintaining separate research accounts; filing annual returns of research activities to the prescribed authority; submitting audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority and the tax commissioner; and applying in advance for extension of approval before expiry.
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Provisions expressly mentioned in the judgment/order text.
Research approval requires separate research accounts, annual returns, audited statements and advance renewal applications to retain tax recognition.
Approval of the Society for Research on Haematology and Blood Transfusion, Calcutta, as an approved institution for tax relief for scientific research is granted in the category of an association, subject to maintaining separate research accounts; filing annual returns of research activities to the prescribed authority; submitting audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority and the tax commissioner; and applying in advance for extension of approval before expiry.
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