Research institution approval ensures tax-deduction eligibility subject to audit, separate accounts and donation reporting requirements. Approval for Petroleum Conservation Research Association as an other institution partly engaged in scientific research requires utilisation of sums for scientific research; research to be carried out by faculty or enrolled students; maintenance of separate books for research receipts and applications; audit of those books by a qualified accountant with the audit report furnished to tax authorities by the return due date; and a certified statement of donations and amounts applied to research to accompany the audit report.
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 ensures tax-deduction eligibility subject to audit, separate accounts and donation reporting requirements.
Approval for Petroleum Conservation Research Association as an other institution partly engaged in scientific research requires utilisation of sums for scientific research; research to be carried out by faculty or enrolled students; maintenance of separate books for research receipts and applications; audit of those books by a qualified accountant with the audit report furnished to tax authorities by the return due date; and a certified statement of donations and amounts applied to research to accompany the audit report.
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