Approval under section 35(1)(ii): College approval subject to separate research accounts, annual returns, audited accounts, and renewal application. Approval under section 35(1)(ii) is granted to M.D. College of Arts, Science and Commerce, Bombay, as a College for research-related tax purposes subject to conditions: maintain a separate account for research funds; file annual returns of research activities in prescribed forms by the annual deadline; submit audited annual accounts and balance sheet to the prescribed authority and the concerned Commissioner of Income-tax by the prescribed annual date; and apply for extension of approval in advance of expiry, with late applications liable to rejection.
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Approval under section 35(1)(ii): College approval subject to separate research accounts, annual returns, audited accounts, and renewal application.
Approval under section 35(1)(ii) is granted to M.D. College of Arts, Science and Commerce, Bombay, as a College for research-related tax purposes subject to conditions: maintain a separate account for research funds; file annual returns of research activities in prescribed forms by the annual deadline; submit audited annual accounts and balance sheet to the prescribed authority and the concerned Commissioner of Income-tax by the prescribed annual date; and apply for extension of approval in advance of expiry, with late applications liable to rejection.
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