Research association approval requires separate research accounts, annual audited returns and timely renewal of approval. Approval under Section 35(1)(ii) is granted to Gangabux Kanoria Medical Research Centre as an Association, subject to maintenance of separate accounts for research funds, annual submission of prescribed scientific research returns, furnishing audited annual accounts and balance-sheet to tax authorities, and timely application for extension of approval before its expiry.
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Research association approval requires separate research accounts, annual audited returns and timely renewal of approval.
Approval under Section 35(1)(ii) is granted to Gangabux Kanoria Medical Research Centre as an Association, subject to maintenance of separate accounts for research funds, annual submission of prescribed scientific research returns, furnishing audited annual accounts and balance-sheet to tax authorities, and timely application for extension of approval before its expiry.
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