Research approval for scientific association imposes reporting, audited accounts, and renewal requirements to secure tax treatment. Approval is granted to the Addiction Research Centre, Madras, as an Approved Institution under clause (ii) of sub section (1) of section 35 of the Income tax Act in the category 'Association', subject to conditions: maintaining separate research accounts; filing annual research activity returns by 30 April; submitting audited accounts and balance sheet to the prescribed authority and Commissioner by 30 June; and applying for renewal to the tax board at least three months before approval expiry.
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Research approval for scientific association imposes reporting, audited accounts, and renewal requirements to secure tax treatment.
Approval is granted to the Addiction Research Centre, Madras, as an Approved Institution under clause (ii) of sub section (1) of section 35 of the Income tax Act in the category "Association", subject to conditions: maintaining separate research accounts; filing annual research activity returns by 30 April; submitting audited accounts and balance sheet to the prescribed authority and Commissioner by 30 June; and applying for renewal to the tax board at least three months before approval expiry.
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