Research institution approval under section 35(1)(iii) requires separate research accounts, annual returns, and audited submissions. Approval is granted to Sri Aurobindo Society as an institution for purposes of section 35(1)(iii), subject to maintaining separate accounts for scientific research, furnishing annual research returns by 31st May, submitting audited annual accounts and balance-sheet to the prescribed authority by 30th June with copies to central tax authorities and the Commissioner, and applying for extension of approval before its expiry; late applications may be rejected.
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Research institution approval under section 35(1)(iii) requires separate research accounts, annual returns, and audited submissions.
Approval is granted to Sri Aurobindo Society as an institution for purposes of section 35(1)(iii), subject to maintaining separate accounts for scientific research, furnishing annual research returns by 31st May, submitting audited annual accounts and balance-sheet to the prescribed authority by 30th June with copies to central tax authorities and the Commissioner, and applying for extension of approval before its expiry; late applications may be rejected.
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