Research institution approval requires separate accounts, annual returns, audited accounts and timely renewal to retain tax benefit. Approval is granted to Sri Aurobindo Society, Pondicherry as an institution for research-related tax purposes effective 1 January 1986 to 31 March 1988. Conditions: maintain separate accounts for research receipts; furnish annual returns of scientific research activities by 31 May; submit 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 30 June; and apply to the Central Board for extension of approval 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.
Research institution approval requires separate accounts, annual returns, audited accounts and timely renewal to retain tax benefit.
Approval is granted to Sri Aurobindo Society, Pondicherry as an institution for research-related tax purposes effective 1 January 1986 to 31 March 1988. Conditions: maintain separate accounts for research receipts; furnish annual returns of scientific research activities by 31 May; submit 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 30 June; and apply to the Central Board for extension of approval at least three months before expiry.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
