Research institution approval under section 35(1)(iii) requires separate research accounts and timely annual returns with audited accounts. The Department of Scientific and Industrial Research approved the Indian Institute of Psychometry, Calcutta, as an Institution under clause (iii) of sub section (1) of section 35 of the Income tax Act for the period 1 April 1988 to 31 March 1989, subject to conditions: maintain a separate account for research receipts; furnish annual returns of research activities in prescribed forms by the prescribed date; submit audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority with copies to the Central Board of Direct Taxes, DGIT (Exemption), Calcutta and the concerned Commissioner; and apply for extension before expiry of approval.
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Research institution approval under section 35(1)(iii) requires separate research accounts and timely annual returns with audited accounts.
The Department of Scientific and Industrial Research approved the Indian Institute of Psychometry, Calcutta, as an Institution under clause (iii) of sub section (1) of section 35 of the Income tax Act for the period 1 April 1988 to 31 March 1989, subject to conditions: maintain a separate account for research receipts; furnish annual returns of research activities in prescribed forms by the prescribed date; submit audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority with copies to the Central Board of Direct Taxes, DGIT (Exemption), Calcutta and the concerned Commissioner; and apply for extension before expiry of approval.
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