Research institution approval conditions tax-exempt research on accounting, annual scientific returns, and audited submissions to authorities. Specified organisations are approved as Institutions for the purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act, subject to conditions: maintain separate research accounts; file an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by the prescribed deadline; and submit audited annual accounts and audited income & expenditure accounts for research activities to the Director General of Income tax (Exemptions), the Secretary of the Department of Scientific & Industrial Research, and the local Commissioner/Director of Income tax (Exemptions) by the prescribed deadline, alongside 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 conditions tax-exempt research on accounting, annual scientific returns, and audited submissions to authorities.
Specified organisations are approved as Institutions for the purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act, subject to conditions: maintain separate research accounts; file an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by the prescribed deadline; and submit audited annual accounts and audited income & expenditure accounts for research activities to the Director General of Income tax (Exemptions), the Secretary of the Department of Scientific & Industrial Research, and the local Commissioner/Director of Income tax (Exemptions) by the prescribed deadline, alongside the return of income to the designated assessing officer.
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