Approved Indian Plywood Industries Research Association, Bangalore u/s 35(1)(ii) - S.O.1643 - Income Tax

Research institution approval requires separate research accounts, annual scientific returns and audited accounts submission to authorities.

Approval as an Institution requires the organisation to maintain a separate account for scientific research, furnish annual scientific research returns to the central science department by 31st May, and submit audited annual accounts showing income, expenditure, assets and liabilities to the tax exemptions authority, the central science department and the local tax commissioner/directorate by 30th June; the approval is time limited and the organisation must seek extension through prescribed procedures.