Research institution approval under income tax law: recognition granted subject to separate research accounts, annual returns and audited accounts. Approval is granted to Eye Research Centre, Madras as an Institution under Section 35(1)(ii) of the Income tax Act, subject to maintaining separate research accounts, furnishing an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts showing income, expenditure, assets and liabilities by 30 June to the Director General of Income tax (Exemptions), the Secretary, and the local Commissioner/Director. Approval is effective 1 April 1991 to 31 March 1993 with prescribed procedures for applying 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 income tax law: recognition granted subject to separate research accounts, annual returns and audited accounts.
Approval is granted to Eye Research Centre, Madras as an Institution under Section 35(1)(ii) of the Income tax Act, subject to maintaining separate research accounts, furnishing an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts showing income, expenditure, assets and liabilities by 30 June to the Director General of Income tax (Exemptions), the Secretary, and the local Commissioner/Director. Approval is effective 1 April 1991 to 31 March 1993 with prescribed procedures for applying for extension.
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