Tax exemption for scientific research requires separate research accounts and annual audited returns to designated authorities. Approval of M/s FIE Research Institute as a notified institution under section 35(1)(ii) for 1 April 2001-31 March 2004 is conditioned on maintaining separate research books, furnishing an Annual Return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited Annual Accounts and audited Income & Expenditure Account for its research activities to the Director General of Income Tax (Exemptions), the Secretary, DSIR, and the relevant Commissioner/Director of Income Tax (Exemptions) by 31 October, alongside the income tax return; renewal applications must be filed in triplicate.
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.
Tax exemption for scientific research requires separate research accounts and annual audited returns to designated authorities.
Approval of M/s FIE Research Institute as a notified institution under section 35(1)(ii) for 1 April 2001-31 March 2004 is conditioned on maintaining separate research books, furnishing an Annual Return of scientific research activities to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited Annual Accounts and audited Income & Expenditure Account for its research activities to the Director General of Income Tax (Exemptions), the Secretary, DSIR, and the relevant Commissioner/Director of Income Tax (Exemptions) by 31 October, alongside the income tax return; renewal applications must be filed in triplicate.
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