Approval under section 35(1)(ii) requires institutions to maintain separate accounts and submit returns. Approval under section 35(1)(ii) is granted to All India Institute of Medical Sciences, New Delhi as an Institution for purposes of tax recognition of scientific research expenditure, subject to conditions requiring maintenance of a separate account for research receipts, annual submission of prescribed returns on research activities by the stated deadline, submission of audited annual accounts and balance-sheet to the prescribed authority and specified tax offices, and timely application for renewal of approval before expiry to avoid 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) requires institutions to maintain separate accounts and submit returns.
Approval under section 35(1)(ii) is granted to All India Institute of Medical Sciences, New Delhi as an Institution for purposes of tax recognition of scientific research expenditure, subject to conditions requiring maintenance of a separate account for research receipts, annual submission of prescribed returns on research activities by the stated deadline, submission of audited annual accounts and balance-sheet to the prescribed authority and specified tax offices, and timely application for renewal of approval before expiry to avoid rejection.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
