Research institution approval under section 35(1)(ii) requires separate research accounts, annual research returns and audited accounts. Approval granted to Smt. Labhuben Govindbhai Mistry Medical Research Society as an approved institution under clause (ii) of sub section (1) of section 35 of the Income tax Act, subject to maintaining separate research accounts, furnishing annual research returns by 31st May, submitting audited annual accounts and balance sheet to the prescribed authority and tax administration by 30th June, and applying for approval extension three months before expiry.
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Research institution approval under section 35(1)(ii) requires separate research accounts, annual research returns and audited accounts.
Approval granted to Smt. Labhuben Govindbhai Mistry Medical Research Society as an approved institution under clause (ii) of sub section (1) of section 35 of the Income tax Act, subject to maintaining separate research accounts, furnishing annual research returns by 31st May, submitting audited annual accounts and balance sheet to the prescribed authority and tax administration by 30th June, and applying for approval extension three months before expiry.
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