Approval under section 35(1)(iii): institution recognised for research benefits subject to accounting, reporting, audited accounts, and renewal conditions. Approval is granted to the EFI Social and Labour Research Foundation as an Institution for purposes of section 35(1)(iii) of the Income-tax Act, subject to conditions: maintain separate research accounts; furnish annual returns of scientific research activities by 30 April; submit audited annual accounts and balance sheet to the prescribed authority and Commissioner by 30 June; and apply for extension at least three months before approval expiry, with late applications liable to rejection.
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Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(iii): institution recognised for research benefits subject to accounting, reporting, audited accounts, and renewal conditions.
Approval is granted to the EFI Social and Labour Research Foundation as an Institution for purposes of section 35(1)(iii) of the Income-tax Act, subject to conditions: maintain separate research accounts; furnish annual returns of scientific research activities by 30 April; submit audited annual accounts and balance sheet to the prescribed authority and Commissioner by 30 June; and apply for extension at least three months before approval expiry, with late applications liable to rejection.
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