Research exemption approval - institution granted conditional tax recognition with specified accounting, reporting and renewal obligations. Institutional approval for research-related tax exemption is subject to maintaining separate research accounts, filing an annual scientific research return to the Department of Scientific & Industrial Research by 31st May, and submitting audited annual accounts and audited income-and-expenditure statements for research to specified tax and scientific authorities by 31st October each year, while also filing the regular income-tax return; the approval is time-limited and requires triplicate renewal applications through specified channels.
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 exemption approval - institution granted conditional tax recognition with specified accounting, reporting and renewal obligations.
Institutional approval for research-related tax exemption is subject to maintaining separate research accounts, filing an annual scientific research return to the Department of Scientific & Industrial Research by 31st May, and submitting audited annual accounts and audited income-and-expenditure statements for research to specified tax and scientific authorities by 31st October each year, while also filing the regular income-tax return; the approval is time-limited and requires triplicate renewal applications through specified channels.
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