Research institution approval under tax law requires separate research accounts, annual returns, audited accounts and timely renewal. Approval of the Indian Council for Research on International Economic Relations as an Institution under section 35(1)(iii) is subject to maintaining a separate account for research receipts, furnishing annual returns of scientific research activities by 31st May, submitting audited annual accounts and balance-sheet to the prescribed authority by 30th June with copies to specified tax authorities, and applying for extension before approval expiry; late applications may be rejected.
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.
Research institution approval under tax law requires separate research accounts, annual returns, audited accounts and timely renewal.
Approval of the Indian Council for Research on International Economic Relations as an Institution under section 35(1)(iii) is subject to maintaining a separate account for research receipts, furnishing annual returns of scientific research activities by 31st May, submitting audited annual accounts and balance-sheet to the prescribed authority by 30th June with copies to specified tax authorities, and applying for extension before approval expiry; late applications may be rejected.
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