Research institution approval under section thirty five requires dedicated research accounts and prescribed annual reporting for tax recognition. Approval is granted to Lal Bahadur Shastri Engineering Research And Consultancy Centre, Trivandrum, as an Institution for purposes of clause (ii) of sub section (1) of section 35 read with rule 6, subject to conditions: maintain separate accounts for scientific research receipts; furnish annual research returns by 31st May; submit audited accounts, income and expenditure statements and balance sheet with copies to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30th June; and apply for approval extension at least three months before expiry.
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Research institution approval under section thirty five requires dedicated research accounts and prescribed annual reporting for tax recognition.
Approval is granted to Lal Bahadur Shastri Engineering Research And Consultancy Centre, Trivandrum, as an Institution for purposes of clause (ii) of sub section (1) of section 35 read with rule 6, subject to conditions: maintain separate accounts for scientific research receipts; furnish annual research returns by 31st May; submit audited accounts, income and expenditure statements and balance sheet with copies to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30th June; and apply for approval extension at least three months before expiry.
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