Research exemption approval requires separate research accounts, annual returns, audited accounts and advance renewal applications. Approval is granted to the Bhagwan Sri Ramana Maharshi Research Centre, Bangalore, as an approved institution under the income-tax research-exemption regime, conditioned on maintaining separate accounts for scientific research, furnishing prescribed annual returns of research activities, submitting audited annual accounts and balance sheet to the prescribed authority and tax authorities, and applying in advance for renewal of approval to avoid rejection.
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Provisions expressly mentioned in the judgment/order text.
Research exemption approval requires separate research accounts, annual returns, audited accounts and advance renewal applications.
Approval is granted to the Bhagwan Sri Ramana Maharshi Research Centre, Bangalore, as an approved institution under the income-tax research-exemption regime, conditioned on maintaining separate accounts for scientific research, furnishing prescribed annual returns of research activities, submitting audited annual accounts and balance sheet to the prescribed authority and tax authorities, and applying in advance for renewal of approval to avoid rejection.
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