Research institution approval under section 35(1)(ii) requires separate accounts and annual audited returns to DSIR and tax authorities. Approval as an Institution for research-related tax exemption is conditional on maintaining separate accounts for scientific research, furnishing an annual return of research activities to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary DSIR and the local Commissioner/Director of Income-tax (Exemptions) by 30 June; approval is limited to the stated financial year and guidance is provided for extension applications.
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)(ii) requires separate accounts and annual audited returns to DSIR and tax authorities.
Approval as an Institution for research-related tax exemption is conditional on maintaining separate accounts for scientific research, furnishing an annual return of research activities to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts showing income, expenditure, assets and liabilities to the Director-General of Income-tax (Exemptions), the Secretary DSIR and the local Commissioner/Director of Income-tax (Exemptions) by 30 June; approval is limited to the stated financial year and guidance is provided for extension applications.
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