Research expenditure exemption requires approved institutions to apply funds to social science research and comply with audit and reporting conditions. Exemption under section 35(1) is granted to the American Institute of Indian Studies as an Other Institution partly engaged in research, subject to use of sums for social science research, carrying out research through faculty or students, maintaining separate books for research receipts, obtaining an audit by a qualified accountant and furnishing the audit report and an auditor certified statement of donations and amounts applied for research to the tax authority by the 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 requires approved institutions to apply funds to social science research and comply with audit and reporting conditions.
Exemption under section 35(1) is granted to the American Institute of Indian Studies as an Other Institution partly engaged in research, subject to use of sums for social science research, carrying out research through faculty or students, maintaining separate books for research receipts, obtaining an audit by a qualified accountant and furnishing the audit report and an auditor certified statement of donations and amounts applied for research to the tax authority by the 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 
