Research exemption under section 35(1)(ii): approval requires separate research accounts, annual DSIR return and audited accounts filing. Approval of the International Advanced Research Centre for Metallurgy & New Materials, Hyderabad as an Association entitled to research-related tax exemption is notified for 1 4 99 to 31 3 2000. Conditions: maintain separate research books of account; furnish annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31 May; and submit audited annual accounts and audited income & expenditure account for research activities to the Director General of Income tax (Exemptions), the Secretary DSIR and the local Commissioner/Director of Income tax (Exemptions) by 31 October, besides filing the income tax return 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 exemption under section 35(1)(ii): approval requires separate research accounts, annual DSIR return and audited accounts filing.
Approval of the International Advanced Research Centre for Metallurgy & New Materials, Hyderabad as an Association entitled to research-related tax exemption is notified for 1 4 99 to 31 3 2000. Conditions: maintain separate research books of account; furnish annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31 May; and submit audited annual accounts and audited income & expenditure account for research activities to the Director General of Income tax (Exemptions), the Secretary DSIR and the local Commissioner/Director of Income tax (Exemptions) by 31 October, besides filing the income tax return to the designated Assessing Officer.
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