Approval under section 35(1)(ii) conditions research institution recognition with mandated separate accounts and annual reporting. Approval is granted to the Child Trust Medical Research Foundation as an approved institution under Section 35(1)(ii) of the Income-tax Act, subject to maintaining a separate account for scientific research receipts, furnishing annual returns of research activities by 30th April, submitting audited annual accounts and balance sheet to the prescribed authority and Commissioner by 30th June, and applying for extension of approval at least three months before expiry; late applications may be rejected.
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 under section 35(1)(ii) conditions research institution recognition with mandated separate accounts and annual reporting.
Approval is granted to the Child Trust Medical Research Foundation as an approved institution under Section 35(1)(ii) of the Income-tax Act, subject to maintaining a separate account for scientific research receipts, furnishing annual returns of research activities by 30th April, submitting audited annual accounts and balance sheet to the prescribed authority and Commissioner by 30th June, and applying for extension of approval at least three months before expiry; late applications may be rejected.
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