Research association approval under section 35(1)(ii) requires separate research accounts, annual returns and audited submissions. Approval is granted to the Society for Research on Haematology and Blood Transfusion, Calcutta, as an Association for purposes of section 35(1)(ii) of the Income-tax Act for 1-4-1987 to 31-3-1990, subject to conditions: maintain separate accounts for research receipts; furnish annual research returns by 31 May; submit audited accounts, income and expenditure statements and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the Commissioner by 30 June each year; and apply to the Central Board at least three months before expiry for extension.
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Research association approval under section 35(1)(ii) requires separate research accounts, annual returns and audited submissions.
Approval is granted to the Society for Research on Haematology and Blood Transfusion, Calcutta, as an Association for purposes of section 35(1)(ii) of the Income-tax Act for 1-4-1987 to 31-3-1990, subject to conditions: maintain separate accounts for research receipts; furnish annual research returns by 31 May; submit audited accounts, income and expenditure statements and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the Commissioner by 30 June each year; and apply to the Central Board at least three months before expiry for extension.
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