Research institution approval under section 35(1)(ii) requires separate research accounts and annual audited submissions. Mahyco Research Foundations is approved as an Institution under clause (ii) of sub section (1) of section 35 of the Income tax Act, conditional on maintaining separate accounts for scientific research, furnishing annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to the Director General (Exemptions), the Secretary, and the local Commissioner/Director of Income tax (Exemptions) by 30 June; approval covers 1 April 1990 to 31 March 1991 and sets out procedures for extension.
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.
Research institution approval under section 35(1)(ii) requires separate research accounts and annual audited submissions.
Mahyco Research Foundations is approved as an Institution under clause (ii) of sub section (1) of section 35 of the Income tax Act, conditional on maintaining separate accounts for scientific research, furnishing annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to the Director General (Exemptions), the Secretary, and the local Commissioner/Director of Income tax (Exemptions) by 30 June; approval covers 1 April 1990 to 31 March 1991 and sets out procedures for extension.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
