Research exemption approval requires approved associations to maintain separate research accounts and annual audited reporting. Approval confers association status for research-related tax exemption on Tata Institute of Fundamental Research for the stated period, subject to maintaining separate research accounts, furnishing an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by the prescribed annual deadline, and annually submitting audited accounts and an audited income and expenditure account for research activities to designated tax and departmental authorities while filing 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.
Research exemption approval requires approved associations to maintain separate research accounts and annual audited reporting.
Approval confers association status for research-related tax exemption on Tata Institute of Fundamental Research for the stated period, subject to maintaining separate research accounts, furnishing an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by the prescribed annual deadline, and annually submitting audited accounts and an audited income and expenditure account for research activities to designated tax and departmental authorities while filing the return of income to the Assessing Officer.
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