Research institution approval under tax law requires separate research accounts and annual audited returns to authorities. Approval of the Society for Fundamental Research and Development as an institution for research-related income-tax purposes is conditional on maintaining separate accounts for research funds, filing annual returns of research activities by 31st May, submitting audited annual accounts and balance-sheet to the prescribed authority by 30th June with copies to the Central Board of Direct Taxes and the Commissioner of Income-tax, and applying for extension at least three months before approval 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 tax law requires separate research accounts and annual audited returns to authorities.
Approval of the Society for Fundamental Research and Development as an institution for research-related income-tax purposes is conditional on maintaining separate accounts for research funds, filing annual returns of research activities by 31st May, submitting audited annual accounts and balance-sheet to the prescribed authority by 30th June with copies to the Central Board of Direct Taxes and the Commissioner of Income-tax, and applying for extension at least three months before approval expiry.
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