Approval under section 35(1)(iii) grants institutional research exemption subject to separate accounts and annual reporting requirements. Approval is granted to the Indian Statistical Institute, Calcutta, as an Institution for purposes of section 35(1)(iii) of the Income-tax Act, subject to maintaining a separate account for research funds, furnishing annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to tax and research authorities by 30 June; the approval is effective from 8 February 1990 to 31 March 1991 and includes guidance on applying for extension through the local tax authority and directly to the Department of Scientific and Industrial Research.
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.
Approval under section 35(1)(iii) grants institutional research exemption subject to separate accounts and annual reporting requirements.
Approval is granted to the Indian Statistical Institute, Calcutta, as an Institution for purposes of section 35(1)(iii) of the Income-tax Act, subject to maintaining a separate account for research funds, furnishing annual research returns to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to tax and research authorities by 30 June; the approval is effective from 8 February 1990 to 31 March 1991 and includes guidance on applying for extension through the local tax authority and directly to the Department of Scientific and Industrial Research.
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