Section 35(1)(ii) of the Income-tax Act, 1961 - Scientific research expenditure - Banasthali University, Rajasthan Approved as scientific research associations/institutions - S.O. No. 21 - Income Tax Act, 1961
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Scientific research approval permits research-dedicated receipts subject to mandated accounting, audit and certified donation reporting. Approval under Section 35(1)(ii) is granted to Banasthali University as a partly research-engaged 'University' conditional on utilization of sums for scientific research, research being undertaken by faculty or enrolled students, maintenance of separate books of account for research receipts and expenditures, audit of those books by a qualified accountant with submission of the audit report to the tax authorities by the return due date, and submission of a certified statement of donations and amounts applied for scientific research; approval may be withdrawn for specified noncompliance or cessation of genuine research activities.
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.
Scientific research approval permits research-dedicated receipts subject to mandated accounting, audit and certified donation reporting.
Approval under Section 35(1)(ii) is granted to Banasthali University as a partly research-engaged 'University' conditional on utilization of sums for scientific research, research being undertaken by faculty or enrolled students, maintenance of separate books of account for research receipts and expenditures, audit of those books by a qualified accountant with submission of the audit report to the tax authorities by the return due date, and submission of a certified statement of donations and amounts applied for scientific research; approval may be withdrawn for specified noncompliance or cessation of genuine research activities.
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