Research institution approval under section 35(1)(ii) requires separate accounts, annual returns, audited statements and renewal notice. Approval is granted to Krishnamurti Foundation India, Madras, as an institution for the purposes of section 35(1)(ii) of the Income-tax Act, effective from 1-4-1987 to 31-3-1989, subject to conditions: maintain separate accounts for scientific research receipts; file annual returns of research activities by 31st May; submit audited accounts, income and expenditure statements and balance-sheet by 30th June with copies to the Central Board of Direct Taxes and the Commissioner; and apply for extension at least three months before approval expiry.
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Research institution approval under section 35(1)(ii) requires separate accounts, annual returns, audited statements and renewal notice.
Approval is granted to Krishnamurti Foundation India, Madras, as an institution for the purposes of section 35(1)(ii) of the Income-tax Act, effective from 1-4-1987 to 31-3-1989, subject to conditions: maintain separate accounts for scientific research receipts; file annual returns of research activities by 31st May; submit audited accounts, income and expenditure statements and balance-sheet by 30th June with copies to the Central Board of Direct Taxes and the Commissioner; and apply for extension at least three months before approval expiry.
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