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Research institution approval requires separate research accounts, annual audited submissions, and timely renewal applications. Potash Research Institute of India is approved as an institution under the tax provisions for scientific research subject to conditions: keep separate research accounts, file annual returns of research activities with the prescribed authority by the annual deadline, submit audited accounts and balance-sheet copies to the prescribed authority and tax offices by the annual deadline, and apply for renewal of approval before expiry or risk rejection.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval requires separate research accounts, annual audited submissions, and timely renewal applications.
Potash Research Institute of India is approved as an institution under the tax provisions for scientific research subject to conditions: keep separate research accounts, file annual returns of research activities with the prescribed authority by the annual deadline, submit audited accounts and balance-sheet copies to the prescribed authority and tax offices by the annual deadline, and apply for renewal of approval before expiry or risk rejection.
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