Research institution approval under section 35(1)(ii) requires separate accounts and annual returns with prescribed reporting obligations. Approval is granted to Jayaramdas Patel Scientific Research Foundation, Bombay, as an approved institution for research-related tax recognition, conditional on maintaining separate accounts for sums received for scientific research, furnishing annual returns of research activities by 30 April each year, and submitting audited annual accounts, income and expenditure statements, and a balance-sheet to the prescribed authority and the concerned Commissioner of Income-tax by 30 June each year; renewal applications must be filed three months prior to expiry.
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Research institution approval under section 35(1)(ii) requires separate accounts and annual returns with prescribed reporting obligations.
Approval is granted to Jayaramdas Patel Scientific Research Foundation, Bombay, as an approved institution for research-related tax recognition, conditional on maintaining separate accounts for sums received for scientific research, furnishing annual returns of research activities by 30 April each year, and submitting audited annual accounts, income and expenditure statements, and a balance-sheet to the prescribed authority and the concerned Commissioner of Income-tax by 30 June each year; renewal applications must be filed three months prior to expiry.
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