Approval under section 35(1)(ii) for research institutions: subject to separate accounting and annual audited reporting requirements. Approval of specified organisations as institution under clause (ii) of subsection (1) of section 35 of the Income-tax Act permits research-related tax benefits subject to conditions: maintain separate research accounts; furnish annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May; and submit audited annual accounts and audited income-and-expenditure accounts for research activities to the Director-General of Income-tax (Exemptions), the Secretary, DSIR, and the Commissioner/Director of Income-tax (Exemptions) by 31 October, alongside the return of income to the Assessing Officer.
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) for research institutions: subject to separate accounting and annual audited reporting requirements.
Approval of specified organisations as institution under clause (ii) of subsection (1) of section 35 of the Income-tax Act permits research-related tax benefits subject to conditions: maintain separate research accounts; furnish annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May; and submit audited annual accounts and audited income-and-expenditure accounts for research activities to the Director-General of Income-tax (Exemptions), the Secretary, DSIR, and the Commissioner/Director of Income-tax (Exemptions) by 31 October, alongside the return of income to the Assessing Officer.
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