Research expenditure approval under section 35 requires association status, annual DSIR return and audited account submissions. Approval is granted to the Foundation as an Association for tax relief on scientific research subject to conditions: maintain separate books for research (unless exempted for Associations); furnish an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May; and submit copies of audited annual accounts and audited income & expenditure accounts for research activities to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the Commissioner/Director of Income tax (Exemptions) by 31 October, in addition to the regular income tax return.
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 approval under section 35 requires association status, annual DSIR return and audited account submissions.
Approval is granted to the Foundation as an Association for tax relief on scientific research subject to conditions: maintain separate books for research (unless exempted for Associations); furnish an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May; and submit copies of audited annual accounts and audited income & expenditure accounts for research activities to the Director General of Income tax (Exemptions), the Secretary, DSIR, and the Commissioner/Director of Income tax (Exemptions) by 31 October, in addition to the regular income tax return.
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