Research institution approval requires separate research accounts and specified annual filings to tax and science departments by deadlines. Approval is granted to specified organisations as institutions for purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act. Conditions require separate books for research activities; an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May; and submission of 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, 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 institution approval requires separate research accounts and specified annual filings to tax and science departments by deadlines.
Approval is granted to specified organisations as institutions for purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act. Conditions require separate books for research activities; an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May; and submission of 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, in addition to filing the return of income to the designated Assessing Officer.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
