Research association approval requires separate research accounts, annual audited filings and prescribed extension procedure under tax rules. Approval of Sri Aurobindo Institute of Applied Scientific Research as an association for research exemption under section 35(1)(ii) is subject to maintaining separate research accounts, furnishing annual research returns by 31 May, submitting audited annual accounts to specified authorities by 30 June, and applying in triplicate through the local tax authority for extension three months before expiry while supplying additional copies to the science department; the notification names the organisation and specifies the approval period.
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Provisions expressly mentioned in the judgment/order text.
Research association approval requires separate research accounts, annual audited filings and prescribed extension procedure under tax rules.
Approval of Sri Aurobindo Institute of Applied Scientific Research as an association for research exemption under section 35(1)(ii) is subject to maintaining separate research accounts, furnishing annual research returns by 31 May, submitting audited annual accounts to specified authorities by 30 June, and applying in triplicate through the local tax authority for extension three months before expiry while supplying additional copies to the science department; the notification names the organisation and specifies the approval period.
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