Research institution approval requires separate research accounts, annual DSIR returns and audited submissions to tax authorities. Approval is granted to specified organisations as institutions for purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act for the periods listed. Approval is subject to conditions: maintain separate books for research activities; furnish an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May; and submit audited annual accounts and audited income & expenditure accounts for research activities to the Director General of Income tax (Exemptions), the Secretary, Department of Scientific & Industrial Research, and the relevant Commissioner/Director of Income tax (Exemptions) by 31 October, in addition to filing the income tax return.
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 requires separate research accounts, annual DSIR returns and audited submissions to tax authorities.
Approval is granted to specified organisations as institutions for purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act for the periods listed. Approval is subject to conditions: maintain separate books for research activities; furnish an annual return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May; and submit audited annual accounts and audited income & expenditure accounts for research activities to the Director General of Income tax (Exemptions), the Secretary, Department of Scientific & Industrial Research, and the relevant Commissioner/Director of Income tax (Exemptions) by 31 October, in addition to filing the income tax return.
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 
