Research institution approval under tax law requires separate accounts, annual audited returns and timely renewal application. Approval certifies Dr. Patani, Scientific and Industrial Research, Bombay as an approved research Association for the tax provision on scientific research, effective 1 April 1986-31 March 1987, subject to conditions: maintain separate research accounts; file annual research activity returns by 30 April in prescribed form; submit audited annual accounts and balance sheet to the prescribed authority and the Commissioner by 30 June; and seek extension from the Central Board of Direct Taxes at least three months before approval expiry.
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 under tax law requires separate accounts, annual audited returns and timely renewal application.
Approval certifies Dr. Patani, Scientific and Industrial Research, Bombay as an approved research Association for the tax provision on scientific research, effective 1 April 1986-31 March 1987, subject to conditions: maintain separate research accounts; file annual research activity returns by 30 April in prescribed form; submit audited annual accounts and balance sheet to the prescribed authority and the Commissioner by 30 June; and seek extension from the Central Board of Direct Taxes at least three months before approval expiry.
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