Approval for scientific research institution enables tax-exemption compliance contingent on annual returns and audited accounts submission. Approval as an approved institution for scientific research is conditional on maintaining separate accounts for research receipts, filing annual returns of research activities with the prescribed authority by the annual deadline, submitting audited annual accounts and balance sheet to the prescribed authority and specified tax offices by the prescribed date, and applying for extension of approval before expiry, with late applications liable to rejection.
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.
Approval for scientific research institution enables tax-exemption compliance contingent on annual returns and audited accounts submission.
Approval as an approved institution for scientific research is conditional on maintaining separate accounts for research receipts, filing annual returns of research activities with the prescribed authority by the annual deadline, submitting audited annual accounts and balance sheet to the prescribed authority and specified tax offices by the prescribed date, and applying for extension of approval before expiry, with late applications liable to rejection.
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