Research exemption approval requires separate research accounts, annual returns, and submission of audited accounts each year. Approval was granted to The Bandra Holy Family Medical Research Society as an approved association for research under section 35(1)(ii), subject to maintenance of separate research accounts, annual submission of a research activities return to the Department of Scientific and Industrial Research, and yearly submission of audited annual accounts to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the local Commissioner/Director of Income tax (Exemptions); the notification also prescribes the procedure for applying for extension of approval.
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 exemption approval requires separate research accounts, annual returns, and submission of audited accounts each year.
Approval was granted to The Bandra Holy Family Medical Research Society as an approved association for research under section 35(1)(ii), subject to maintenance of separate research accounts, annual submission of a research activities return to the Department of Scientific and Industrial Research, and yearly submission of audited annual accounts to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the local Commissioner/Director of Income tax (Exemptions); the notification also prescribes the procedure for applying for extension of approval.
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 
