Research approval requires separate research accounts, annual audited accounts, and formal reporting to tax and research authorities. Approval under section 35(1)(iii) recognises the organisation as an Institution for research-related tax purposes conditional on maintaining a separate account for research funds, furnishing an annual return of research activities to the research authority by the prescribed deadline, and submitting audited annual accounts of income, expenditure, assets and liabilities to the tax exemption authority, the research authority, and the local tax commissioner/director by the annual cut-off.
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 requires separate research accounts, annual audited accounts, and formal reporting to tax and research authorities.
Approval under section 35(1)(iii) recognises the organisation as an Institution for research-related tax purposes conditional on maintaining a separate account for research funds, furnishing an annual return of research activities to the research authority by the prescribed deadline, and submitting audited annual accounts of income, expenditure, assets and liabilities to the tax exemption authority, the research authority, and the local tax commissioner/director by the annual cut-off.
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