Approval under section 35(1)(ii): research association subject to separate research accounts, annual returns and audited filings. Approval of Bakul Finechem Research Centre as an Association under section 35(1)(ii) is effective 1-4-1987 to 31-3-1989. Conditions: maintain separate accounts for research receipts; file annual returns of scientific research activities by 31 May; submit audited annual accounts, income and expenditure statement and balance-sheet to the prescribed authority by 30 June with copies to the Central Board of Direct Taxes and the concerned Commissioner; apply to the Central Board three months before expiry for extension.
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Approval under section 35(1)(ii): research association subject to separate research accounts, annual returns and audited filings.
Approval of Bakul Finechem Research Centre as an Association under section 35(1)(ii) is effective 1-4-1987 to 31-3-1989. Conditions: maintain separate accounts for research receipts; file annual returns of scientific research activities by 31 May; submit audited annual accounts, income and expenditure statement and balance-sheet to the prescribed authority by 30 June with copies to the Central Board of Direct Taxes and the concerned Commissioner; apply to the Central Board three months before expiry for extension.
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