Institution approval for research expenditure - requires separate research accounts, annual returns and audited accounts filings. Associated Electronics Research Foundation is approved as an Institution under section 35(1)(ii), subject to maintaining a separate account for research receipts, furnishing annual returns of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May each year, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the Commissioner/Director of Income-tax (Exemptions) by 30 June each year; approval covers the stated financial year and extension procedures are prescribed.
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Institution approval for research expenditure - requires separate research accounts, annual returns and audited accounts filings.
Associated Electronics Research Foundation is approved as an Institution under section 35(1)(ii), subject to maintaining a separate account for research receipts, furnishing annual returns of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May each year, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research, and the Commissioner/Director of Income-tax (Exemptions) by 30 June each year; approval covers the stated financial year and extension procedures are prescribed.
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