Income-tax approval for research institution requires specified compliance and reporting obligations, including separate accounts and audited annual filings. Approval of Birla Economic Research Foundation as an Institution for income-tax purposes is subject to conditions: maintain a separate account for research receipts; furnish annual research returns to the Department of Scientific and Industrial Research by the annual deadline; submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General (Income-tax Exemptions), the Secretary, Department of Scientific and Industrial Research, and the appropriate income-tax commissioner/director by the prescribed annual date; and apply in triplicate through the local tax authority for extension, providing additional copies to the 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.
Income-tax approval for research institution requires specified compliance and reporting obligations, including separate accounts and audited annual filings.
Approval of Birla Economic Research Foundation as an Institution for income-tax purposes is subject to conditions: maintain a separate account for research receipts; furnish annual research returns to the Department of Scientific and Industrial Research by the annual deadline; submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General (Income-tax Exemptions), the Secretary, Department of Scientific and Industrial Research, and the appropriate income-tax commissioner/director by the prescribed annual date; and apply in triplicate through the local tax authority for extension, providing additional copies to the Department.
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