Research expenditure deduction approval requires separate research accounts, annual scientific returns, and audited research accounts submission. Specified organisations are approved as Institutions for research-related tax deductions, conditional on maintaining separate research accounts, furnishing an annual scientific research return to the Department of Scientific & Industrial Research, and submitting audited annual accounts and audited income and expenditure accounts for research activities to the Director General of Income-tax (Exemptions), the Secretary of the Department of Scientific & Industrial Research, and the relevant Commissioner/Director of Income-tax (Exemptions), in addition to filing the return of income to the designated 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.
Research expenditure deduction approval requires separate research accounts, annual scientific returns, and audited research accounts submission.
Specified organisations are approved as Institutions for research-related tax deductions, conditional on maintaining separate research accounts, furnishing an annual scientific research return to the Department of Scientific & Industrial Research, and submitting audited annual accounts and audited income and expenditure accounts for research activities to the Director General of Income-tax (Exemptions), the Secretary of the Department of Scientific & Industrial Research, and the relevant Commissioner/Director of Income-tax (Exemptions), in addition to filing the return of income to the designated Assessing Officer.
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