Research institution approval under section 35(1)(ii) requires annual returns, audited accounts and advance renewal application. Bhaskaracharya Pratisthan, Pune is approved as an association for purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act, read with rule 6, subject to maintaining a separate research account, filing annual research returns by 30 April, submitting audited accounts and balance sheet by 30 June with copies to the Commissioner, and applying for extension to the Central Board of Direct Taxes at least three months before approval expiry; effective 1 April 1986 to 31 March 1987.
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Research institution approval under section 35(1)(ii) requires annual returns, audited accounts and advance renewal application.
Bhaskaracharya Pratisthan, Pune is approved as an association for purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act, read with rule 6, subject to maintaining a separate research account, filing annual research returns by 30 April, submitting audited accounts and balance sheet by 30 June with copies to the Commissioner, and applying for extension to the Central Board of Direct Taxes at least three months before approval expiry; effective 1 April 1986 to 31 March 1987.
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