Approval under section 35(1)(ii) - institutions granted research exemption subject to accounting and reporting conditions. Approval of organisations as Institution under clause (ii) of sub section (1) of section 35 permits specified bodies to qualify for research related tax treatment for stated periods, subject to conditions: maintain separate books for research; submit an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31 May; and provide audited annual accounts and audited research income and expenditure accounts to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the local 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) - institutions granted research exemption subject to accounting and reporting conditions.
Approval of organisations as Institution under clause (ii) of sub section (1) of section 35 permits specified bodies to qualify for research related tax treatment for stated periods, subject to conditions: maintain separate books for research; submit an annual scientific research return to the Secretary, Department of Scientific and Industrial Research by 31 May; and provide audited annual accounts and audited research income and expenditure accounts to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the local Commissioner/Director of Income tax (Exemptions) by 31 October, alongside the return of income to the Assessing Officer.
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