Research institution approval requires separate accounting and annual audited filings under income tax rules, plus extension application procedure. Approval is granted to Birla Research Institute for Applied Sciences, Birlagram as an Institution under section 35(1)(ii) subject to conditions: maintain separate accounts for scientific research; furnish annual returns of research activities to the Secretary, Department of Scientific and Industrial Research by 31st May each year; and submit audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the Commissioner/Director of Income-tax (Exemptions) having jurisdiction by 30th June each year. The approval is effective for the specified financial period and the organisation is advised on the procedure and copy requirements for applying for extension of approval.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval requires separate accounting and annual audited filings under income tax rules, plus extension application procedure.
Approval is granted to Birla Research Institute for Applied Sciences, Birlagram as an Institution under section 35(1)(ii) subject to conditions: maintain separate accounts for scientific research; furnish annual returns of research activities to the Secretary, Department of Scientific and Industrial Research by 31st May each year; and submit audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the Commissioner/Director of Income-tax (Exemptions) having jurisdiction by 30th June each year. The approval is effective for the specified financial period and the organisation is advised on the procedure and copy requirements for applying for extension of approval.
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