Research association approval requires separate research accounts, annual returns, audited accounts filing, and timely renewal application. Approval is granted to Shri A. M. M. Murugappa Chettiar Research Centre, Madras as an Association for research-related Income-tax purposes, subject to maintaining a separate account for research receipts; furnishing annual returns of scientific research activities by 31 May each year; submitting audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority by 30 June with copies to central tax authorities; and applying for extension before approval expiry.
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Research association approval requires separate research accounts, annual returns, audited accounts filing, and timely renewal application.
Approval is granted to Shri A. M. M. Murugappa Chettiar Research Centre, Madras as an Association for research-related Income-tax purposes, subject to maintaining a separate account for research receipts; furnishing annual returns of scientific research activities by 31 May each year; submitting audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority by 30 June with copies to central tax authorities; and applying for extension before approval expiry.
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