Research approval under Section 35(1)(ii) permits tax treatment for research spending subject to annual returns and audit compliance. Approval is granted to Dr. Patani Scientific and Industrial Research as an Association under section 35(1)(ii) subject to conditions: maintain separate research accounts; furnish annual research returns to the designated research department by the annual deadline; submit audited annual accounts to tax exemptions, the research department and the local tax authority by the prescribed date; and apply through the local tax officer in triplicate for extension of approval within the specified pre-expiry period while supplying additional copies to the research department.
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.
Research approval under Section 35(1)(ii) permits tax treatment for research spending subject to annual returns and audit compliance.
Approval is granted to Dr. Patani Scientific and Industrial Research as an Association under section 35(1)(ii) subject to conditions: maintain separate research accounts; furnish annual research returns to the designated research department by the annual deadline; submit audited annual accounts to tax exemptions, the research department and the local tax authority by the prescribed date; and apply through the local tax officer in triplicate for extension of approval within the specified pre-expiry period while supplying additional copies to the research department.
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