Research institution approval under section 35: institutional recognition granted with annual DSIR return and audited accounts submission requirements. Central Power Research Institute is approved as an Institution for purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act for the stated period, subject to maintenance of separate books for research activities, filing an annual return of scientific research activities with the Secretary, Department of Scientific & Industrial Research by 31 May each year, and submitting audited annual accounts and an audited Income & Expenditure account for research activities to designated income tax and DSIR authorities by 31 October each year; renewal applications must be filed in triplicate.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35: institutional recognition granted with annual DSIR return and audited accounts submission requirements.
Central Power Research Institute is approved as an Institution for purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act for the stated period, subject to maintenance of separate books for research activities, filing an annual return of scientific research activities with the Secretary, Department of Scientific & Industrial Research by 31 May each year, and submitting audited annual accounts and an audited Income & Expenditure account for research activities to designated income tax and DSIR authorities by 31 October each year; renewal applications must be filed in triplicate.
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