Research association approval requires separate research accounts, annual return to scientific department, and audited research accounts submission. Approval is granted to specified organisations as Association for research-related tax exemption subject to maintaining separate books for research activities, filing a scientific research annual return to the departmental secretary by 31 May each year, and submitting audited annual accounts plus a separate audited income and expenditure statement for research activities to designated tax-exemption and research authorities and the local tax commissioner/director by 31 October each year, in addition to filing the return with 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 association approval requires separate research accounts, annual return to scientific department, and audited research accounts submission.
Approval is granted to specified organisations as Association for research-related tax exemption subject to maintaining separate books for research activities, filing a scientific research annual return to the departmental secretary by 31 May each year, and submitting audited annual accounts plus a separate audited income and expenditure statement for research activities to designated tax-exemption and research authorities and the local tax commissioner/director by 31 October each year, in addition to filing the return with the designated assessing officer.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
