Research exemption approval requires separate research accounts and annual audited submissions to tax and science departments. M.S. Chellamuthu Trust and Research Foundation, Madurai, is approved as an institution eligible for research-related income-tax exemption for 1 4 2000 to 31 3 2003, subject to maintaining separate research accounts; filing an annual return of scientific research activities to the Department of Scientific & Industrial Research by 31 May; and submitting audited annual accounts and audited research income & expenditure accounts to designated income-tax and science department authorities by 31 October each year, in addition to filing the income-tax return to the assessing officer.
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Provisions expressly mentioned in the judgment/order text.
Research exemption approval requires separate research accounts and annual audited submissions to tax and science departments.
M.S. Chellamuthu Trust and Research Foundation, Madurai, is approved as an institution eligible for research-related income-tax exemption for 1 4 2000 to 31 3 2003, subject to maintaining separate research accounts; filing an annual return of scientific research activities to the Department of Scientific & Industrial Research by 31 May; and submitting audited annual accounts and audited research income & expenditure accounts to designated income-tax and science department authorities by 31 October each year, in addition to filing the income-tax return to the assessing officer.
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