Section 35(1)(ii) approval requires separate research accounts and annual audited returns for continued tax recognition. Approval under section 35(1)(ii) recognises Nimbkar Agricultural Research Institute as an approved research Association and attaches conditions: maintain separate research accounts; furnish annual scientific returns by 31st May; submit audited accounts and balance-sheet to the prescribed authority and tax offices by 30th June; and apply for extension before expiry, with late applications liable to rejection. The notification specifies the institution and the effective approval period.
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Provisions expressly mentioned in the judgment/order text.
Section 35(1)(ii) approval requires separate research accounts and annual audited returns for continued tax recognition.
Approval under section 35(1)(ii) recognises Nimbkar Agricultural Research Institute as an approved research Association and attaches conditions: maintain separate research accounts; furnish annual scientific returns by 31st May; submit audited accounts and balance-sheet to the prescribed authority and tax offices by 30th June; and apply for extension before expiry, with late applications liable to rejection. The notification specifies the institution and the effective approval period.
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