Approval under section 35(1)(ii) tax exemption recognised; institution approved subject to annual reporting and audit. M. S. Swaminathan Research Foundation was approved as an institution eligible under clause (ii) of sub section (1) of section 35 for research tax exemption, subject to maintaining separate research accounts, filing annual scientific research returns to the Department of Scientific and Industrial Research, and submitting audited annual accounts to the Director General (Income tax Exemptions), the Secretary of the Department, and the local income tax authority; renewal requires a triplicate application through the local tax authority and additional copies to the Department.
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Approval under section 35(1)(ii) tax exemption recognised; institution approved subject to annual reporting and audit.
M. S. Swaminathan Research Foundation was approved as an institution eligible under clause (ii) of sub section (1) of section 35 for research tax exemption, subject to maintaining separate research accounts, filing annual scientific research returns to the Department of Scientific and Industrial Research, and submitting audited annual accounts to the Director General (Income tax Exemptions), the Secretary of the Department, and the local income tax authority; renewal requires a triplicate application through the local tax authority and additional copies to the Department.
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