Research institution approval under tax law requires compliance with annual returns and audited accounts submissions. Approval is granted to the Model Institute of Education and Research, Jammu, as an Institution under the tax provision for scientific research, effective for the stated financial year, subject to maintaining a separate account for research receipts; furnishing annual returns of research activities by 31st May; submitting audited annual accounts, income and expenditure statements, and balance-sheet with specified authorities by 30th June; and applying for extension before the approval's expiry, with late applications liable to rejection.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under tax law requires compliance with annual returns and audited accounts submissions.
Approval is granted to the Model Institute of Education and Research, Jammu, as an Institution under the tax provision for scientific research, effective for the stated financial year, subject to maintaining a separate account for research receipts; furnishing annual returns of research activities by 31st May; submitting audited annual accounts, income and expenditure statements, and balance-sheet with specified authorities by 30th June; and applying for extension before the approval's expiry, with late applications liable to rejection.
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