Approval as Scientific Research Association subjects institution to strict audit, separate accounts, donation reporting, and compliance obligations. TTCRC has been approved as a Scientific Research Association under clause (ii) of sub-section (1) of section 35 read with Rules 5C and 5D from assessment year 2016-2017, subject to conditions: sole objective of scientific research, carrying out research itself, maintaining separate books of accounts for research receipts and applications, obtaining an audit by a specified accountant and furnishing the audit report by the return due date, and maintaining an auditor-certified statement of donations and amounts applied for research. Approval may be withdrawn for failures to maintain books, furnish audit or donation statements, cease genuine research activities, or otherwise not conform to the statutory provisions and rules.
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.
Approval as Scientific Research Association subjects institution to strict audit, separate accounts, donation reporting, and compliance obligations.
TTCRC has been approved as a Scientific Research Association under clause (ii) of sub-section (1) of section 35 read with Rules 5C and 5D from assessment year 2016-2017, subject to conditions: sole objective of scientific research, carrying out research itself, maintaining separate books of accounts for research receipts and applications, obtaining an audit by a specified accountant and furnishing the audit report by the return due date, and maintaining an auditor-certified statement of donations and amounts applied for research. Approval may be withdrawn for failures to maintain books, furnish audit or donation statements, cease genuine research activities, or otherwise not conform to the statutory provisions and rules.
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