Approval under section 35(1)(ii) conditions tax-exemption on separate research accounts, annual reporting and timely renewal applications. Approval under section 35(1)(ii) recognises the Bombay Natural History Society as an eligible association subject to conditions: maintain a separate account for research receipts; furnish annual returns of scientific research activities by 31 May; submit audited annual accounts, income and expenditure statement, and balance sheet to the prescribed authority by 30 June with copies to tax authorities; and apply for extension before approval expiry, with late applications liable to rejection.
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.
Approval under section 35(1)(ii) conditions tax-exemption on separate research accounts, annual reporting and timely renewal applications.
Approval under section 35(1)(ii) recognises the Bombay Natural History Society as an eligible association subject to conditions: maintain a separate account for research receipts; furnish annual returns of scientific research activities by 31 May; submit audited annual accounts, income and expenditure statement, and balance sheet to the prescribed authority by 30 June with copies to tax authorities; and apply for extension before approval expiry, with late applications liable to rejection.
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