Tax approval for scientific research: University recognized under section 35(1)(ii) with compliance and audit conditions. Approval is granted to Pandit Deendayal Petroleum University as an institution qualifying under clause (ii) of sub-section (1) of section 35 read with rules 5C and 5E, from AY 2014-2015, for departments engaged exclusively in scientific research. The institution must ensure sums paid are used only for scientific research, carry out research through faculty or enrolled students, maintain separate books of account for research receipts and expenditures, obtain an audit by a defined accountant and furnish the auditor's report and a certified statement of donations and application of funds to the tax authority by the return due date.
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.
Tax approval for scientific research: University recognized under section 35(1)(ii) with compliance and audit conditions.
Approval is granted to Pandit Deendayal Petroleum University as an institution qualifying under clause (ii) of sub-section (1) of section 35 read with rules 5C and 5E, from AY 2014-2015, for departments engaged exclusively in scientific research. The institution must ensure sums paid are used only for scientific research, carry out research through faculty or enrolled students, maintain separate books of account for research receipts and expenditures, obtain an audit by a defined accountant and furnish the auditor's report and a certified statement of donations and application of funds to the tax authority by the return due date.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
