Tax approval under section 35(1)(ii) grants association status to a research centre subject to annual accounts and reporting. Approval under section 35(1)(ii) grants the Tuberculosis Research Centre income-tax exempt status as an 'Association' on condition that it maintains separate research accounts; files annual research activity returns to the Secretary, Department of Scientific and Industrial Research by 31 May; and submits audited annual accounts to the Director-General (Income-tax Exemptions), the Secretary, and the Commissioner/Director of Income-tax (Exemptions) by 30 June, with a prescribed triplicate extension-application procedure and copies to the Secretary for continuation of approval.
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 under section 35(1)(ii) grants association status to a research centre subject to annual accounts and reporting.
Approval under section 35(1)(ii) grants the Tuberculosis Research Centre income-tax exempt status as an "Association" on condition that it maintains separate research accounts; files annual research activity returns to the Secretary, Department of Scientific and Industrial Research by 31 May; and submits audited annual accounts to the Director-General (Income-tax Exemptions), the Secretary, and the Commissioner/Director of Income-tax (Exemptions) by 30 June, with a prescribed triplicate extension-application procedure and copies to the Secretary for continuation of approval.
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 
