Research institution approval under section 35(1)(iii) requires separate research accounts and specified annual reporting. Approval is granted to specified entities as Institution for purposes of section 35(1)(iii) of the Income-tax Act, 1961, read with the Income-tax Rules, enabling their research expenditures to be treated under the statutory research exemption for the period stated for each organisation. Approval is conditional on maintaining separate research accounts, filing an annual scientific research return to the Department of Scientific & Industrial Research by 31 May, and submitting audited accounts and audited income-and-expenditure accounts for research activities to designated authorities 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 under section 35(1)(iii) requires separate research accounts and specified annual reporting.
Approval is granted to specified entities as Institution for purposes of section 35(1)(iii) of the Income-tax Act, 1961, read with the Income-tax Rules, enabling their research expenditures to be treated under the statutory research exemption for the period stated for each organisation. Approval is conditional on maintaining separate research accounts, filing an annual scientific research return to the Department of Scientific & Industrial Research by 31 May, and submitting audited accounts and audited income-and-expenditure accounts for research activities to designated authorities by 31 October, in addition to filing the return of income to the designated assessing officer.
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