Research institution approval under section 35(1)(iii) grants status subject to separate accounts and annual audited reporting obligations. Tata Institute of Social Sciences is approved as an Institution under clause (iii) of sub-section (1) of section 35 of the Income-tax Act subject to conditions: maintenance of a separate account for scientific research receipts; annual return of scientific research activities to the scientific department by the prescribed annual deadline; and annual submission of audited accounts showing income, expenditure, assets and liabilities to the Director-General (Exemptions), the scientific department secretary and the local Commissioner/Director of Income-tax (Exemptions) by the prescribed date.
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 section 35(1)(iii) grants status subject to separate accounts and annual audited reporting obligations.
Tata Institute of Social Sciences is approved as an Institution under clause (iii) of sub-section (1) of section 35 of the Income-tax Act subject to conditions: maintenance of a separate account for scientific research receipts; annual return of scientific research activities to the scientific department by the prescribed annual deadline; and annual submission of audited accounts showing income, expenditure, assets and liabilities to the Director-General (Exemptions), the scientific department secretary and the local Commissioner/Director of Income-tax (Exemptions) by the prescribed date.
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