Research institution approval under Section 35(1)(iii) requires separate accounts, annual returns, audited accounts and timely renewal applications. Ved Vignan Mahavidyapeeth is approved as an institution under clause (iii) of sub-section (1) of section 35, subject to maintaining a separate account for research receipts, furnishing annual returns of scientific research activities in prescribed forms by 31st May, and submitting audited annual accounts and balance-sheet to the prescribed authority by 30th June each year, with copies to the Central Board of Direct Taxes and the concerned Commissioner of Income-tax; approval is effective from 14-4-87 to 31-3-88 and extension applications must be filed 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 under Section 35(1)(iii) requires separate accounts, annual returns, audited accounts and timely renewal applications.
Ved Vignan Mahavidyapeeth is approved as an institution under clause (iii) of sub-section (1) of section 35, subject to maintaining a separate account for research receipts, furnishing annual returns of scientific research activities in prescribed forms by 31st May, and submitting audited annual accounts and balance-sheet to the prescribed authority by 30th June each year, with copies to the Central Board of Direct Taxes and the concerned Commissioner of Income-tax; approval is effective from 14-4-87 to 31-3-88 and extension applications must be filed 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 
Join Channel
TaxTMI 
