Scientific research approval under tax law requires separate research accounts, annual returns and audited filings by specified deadlines. Approval of The South India Textile Research Association is subject to compliance: maintain a separate account for scientific research; furnish annual scientific research returns to the Secretary, Department of Scientific and Industrial Research by 31 May; and submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, DSIR, and the Commissioner/Director of Income-tax (Exemptions) with jurisdiction by 30 June. The organisation must apply for extension of approval through the tax authorities and send specified copies to the DSIR.
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.
Scientific research approval under tax law requires separate research accounts, annual returns and audited filings by specified deadlines.
Approval of The South India Textile Research Association is subject to compliance: maintain a separate account for scientific research; furnish annual scientific research returns to the Secretary, Department of Scientific and Industrial Research by 31 May; and submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, DSIR, and the Commissioner/Director of Income-tax (Exemptions) with jurisdiction by 30 June. The organisation must apply for extension of approval through the tax authorities and send specified copies to the DSIR.
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