Approval under section 35(1)(iii) mandates separate research accounts and annual audited returns for approved institutions. Approval under section 35(1)(iii) recognises Karve Institute of Social Service as an eligible 'Institution' for research-related tax treatment, conditional on maintaining a separate account for research receipts, filing annual returns of scientific research activities by 31st May, and submitting audited annual accounts, income and expenditure statements, and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30th June. The approval is time-limited and requires an extension application to the Central Board at least three months before expiry.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Approval under section 35(1)(iii) mandates separate research accounts and annual audited returns for approved institutions.
Approval under section 35(1)(iii) recognises Karve Institute of Social Service as an eligible "Institution" for research-related tax treatment, conditional on maintaining a separate account for research receipts, filing annual returns of scientific research activities by 31st May, and submitting audited annual accounts, income and expenditure statements, and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30th June. The approval is time-limited and requires an extension application to the Central Board at least three months before expiry.
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