Research institution approval under tax rules requires separate research accounts, annual returns, audited accounts, and extension application. Approval as an institution under section 35(1)(ii) requires the organisation to keep separate research accounts, file annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, submit audited annual accounts to the Director-General (Income-tax Exemptions), the Secretary, and the Commissioner/Director of Income-tax (Exemptions) by 30 June, and apply in triplicate through the local tax authority for extension three months before expiry while sending six copies to the Secretary, Department of Scientific and Industrial Research.
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Research institution approval under tax rules requires separate research accounts, annual returns, audited accounts, and extension application.
Approval as an institution under section 35(1)(ii) requires the organisation to keep separate research accounts, file annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, submit audited annual accounts to the Director-General (Income-tax Exemptions), the Secretary, and the Commissioner/Director of Income-tax (Exemptions) by 30 June, and apply in triplicate through the local tax authority for extension three months before expiry while sending six copies to the Secretary, Department of Scientific and Industrial Research.
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