Research institution approval requires separate accounts, annual returns, audited accounts and timely renewal applications for compliance. Approval is granted to The Times Research Foundation, New Delhi, as an Institution under the Income tax framework subject to conditions: maintain a separate account for research receipts; furnish annual returns of research activities in prescribed forms by the annual deadline; submit audited annual accounts showing total income, expenditure and a balance-sheet to the prescribed authority with copies to the concerned Commissioner of Income tax by the annual deadline; and apply for extension in advance of approval expiry to avoid rejection.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Research institution approval requires separate accounts, annual returns, audited accounts and timely renewal applications for compliance.
Approval is granted to The Times Research Foundation, New Delhi, as an Institution under the Income tax framework subject to conditions: maintain a separate account for research receipts; furnish annual returns of research activities in prescribed forms by the annual deadline; submit audited annual accounts showing total income, expenditure and a balance-sheet to the prescribed authority with copies to the concerned Commissioner of Income tax by the annual deadline; and apply for extension in advance of approval expiry to avoid rejection.
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