Approval of institutions for research exemption under section 35 imposes mandated accounting, reporting, and audited submission requirements. Notification approves specified organisations as institutions for clause (ii) of sub section (1) of the Income tax Act, subject to maintaining separate research accounts, filing an annual scientific research return with the Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts and audited income and expenditure accounts for research activities to designated income tax and DSIR authorities and the Assessing Officer by 31 October each year.
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 institutions for research exemption under section 35 imposes mandated accounting, reporting, and audited submission requirements.
Notification approves specified organisations as institutions for clause (ii) of sub section (1) of the Income tax Act, subject to maintaining separate research accounts, filing an annual scientific research return with the Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts and audited income and expenditure accounts for research activities to designated income tax and DSIR authorities and the Assessing Officer by 31 October each year.
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