Tax approval for scientific research institutions requires separate research accounts and annual audited returns to tax and science authorities. Council of Power Utilities is approved as an Institution for tax recognition for scientific research subject to conditions: maintain separate accounts for research receipts; furnish annual research activity returns to the Secretary of the science department by 31 May; and submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary of the science department, and the local Commissioner/Director by 30 June. Approval is effective 13 September 1990 to 31 March 1991.
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.
Tax approval for scientific research institutions requires separate research accounts and annual audited returns to tax and science authorities.
Council of Power Utilities is approved as an Institution for tax recognition for scientific research subject to conditions: maintain separate accounts for research receipts; furnish annual research activity returns to the Secretary of the science department by 31 May; and submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary of the science department, and the local Commissioner/Director by 30 June. Approval is effective 13 September 1990 to 31 March 1991.
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