Income tax research approval imposed with separate research accounts and annual audited submissions required by specified deadlines. Approval is granted to M/s Madras School of Economics as an Institution for purposes of clause (iii) of subsection (1) of the Income-tax Act, subject to maintaining separate research accounts, furnishing an annual return of scientific research activities to the Department of Scientific and Industrial Research by 31st May each year, and submitting annually by 31st October audited annual accounts and audited income and expenditure accounts for research activities to the designated tax and science authorities while filing the return of income with the designated Assessing Officer.
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.
Income tax research approval imposed with separate research accounts and annual audited submissions required by specified deadlines.
Approval is granted to M/s Madras School of Economics as an Institution for purposes of clause (iii) of subsection (1) of the Income-tax Act, subject to maintaining separate research accounts, furnishing an annual return of scientific research activities to the Department of Scientific and Industrial Research by 31st May each year, and submitting annually by 31st October audited annual accounts and audited income and expenditure accounts for research activities to the designated tax and science authorities while filing the return of income with the designated Assessing Officer.
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 
