Approval of research institutions for tax deduction under section 35(1)(ii) requires separate accounts and annual audited reporting. Approval is granted to specified organisations as Institutions under clause (ii) of sub section (1) of section 35 of the Income tax Act, 1961 for notified periods. Approvals are conditional on maintaining separate books for research activities, furnishing an annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited income & expenditure accounts for research activities to designated tax and departmental authorities by 31 October, alongside the return of income.
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 of research institutions for tax deduction under section 35(1)(ii) requires separate accounts and annual audited reporting.
Approval is granted to specified organisations as Institutions under clause (ii) of sub section (1) of section 35 of the Income tax Act, 1961 for notified periods. Approvals are conditional on maintaining separate books for research activities, furnishing an annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited income & expenditure accounts for research activities to designated tax and departmental authorities by 31 October, alongside the return of income.
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