Research expenditure exemption: approval subject to conditions on utilization, audit, separate accounts and reporting. Approval is granted to an organisation as an other institution eligible for exemption under clause (ii) of sub section (1) of section 35, subject to conditions that sums be used for scientific research, research be carried out through faculty or enrolled students, separate books of account for research be maintained and audited by a qualified accountant with the audit report and a certified statement of donations furnished to the tax authority by the return due date.
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 expenditure exemption: approval subject to conditions on utilization, audit, separate accounts and reporting.
Approval is granted to an organisation as an other institution eligible for exemption under clause (ii) of sub section (1) of section 35, subject to conditions that sums be used for scientific research, research be carried out through faculty or enrolled students, separate books of account for research be maintained and audited by a qualified accountant with the audit report and a certified statement of donations furnished to the tax authority by the return due date.
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 
