Research exemption approval requires separate research accounts and annual audited submissions by set statutory deadlines. M/s K.E.M. Hospital Research Centre is approved as an Institution for research expenditure exemption for 1 April 2002-31 March 2005, subject to maintaining separate research accounts; filing an Annual Return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May each year; and submitting audited annual accounts and audited income & expenditure account for research activities to the Director General of Income Tax (Exemption), the Secretary, DSIR, and the Commissioner/Director of Income Tax (Exemptions) having jurisdiction by 31 October each year, in addition to the income tax return.
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Provisions expressly mentioned in the judgment/order text.
Research exemption approval requires separate research accounts and annual audited submissions by set statutory deadlines.
M/s K.E.M. Hospital Research Centre is approved as an Institution for research expenditure exemption for 1 April 2002-31 March 2005, subject to maintaining separate research accounts; filing an Annual Return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May each year; and submitting audited annual accounts and audited income & expenditure account for research activities to the Director General of Income Tax (Exemption), the Secretary, DSIR, and the Commissioner/Director of Income Tax (Exemptions) having jurisdiction by 31 October each year, in addition to the income tax return.
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