Research institution approval requires separate research accounts and annual audited returns to tax and research authorities. Approval is granted to Haffkin Institute as a research institution under the tax provision, conditioned on maintaining a separate account for research funds, furnishing annual scientific research returns to the Secretary of the Department of Scientific and Industrial Research by 31st May, and submitting audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary of the research department, and the jurisdictional tax commissioner/director by 30th June each year.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval requires separate research accounts and annual audited returns to tax and research authorities.
Approval is granted to Haffkin Institute as a research institution under the tax provision, conditioned on maintaining a separate account for research funds, furnishing annual scientific research returns to the Secretary of the Department of Scientific and Industrial Research by 31st May, and submitting audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary of the research department, and the jurisdictional tax commissioner/director by 30th June each year.
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