Approval under section 35(1)(ii) confers recognised research institution status; mandates separate accounts, annual returns and audited accounts. The approval requires the organisation to maintain a separate account for sums received for scientific research, to furnish an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31st May each year, and to submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research and the relevant Commissioner/Director of Income-tax by 30th June each year.
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)(ii) confers recognised research institution status; mandates separate accounts, annual returns and audited accounts.
The approval requires the organisation to maintain a separate account for sums received for scientific research, to furnish an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31st May each year, and to submit audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary, Department of Scientific and Industrial Research and the relevant Commissioner/Director of Income-tax by 30th June each year.
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