Research exemption approval: association must maintain separate research accounts and file prescribed annual returns and audited records. Approval of the association for research exemption is conditional on maintaining separate books for research; furnishing an annual return of scientific research activities to the scientific department by the annual filing deadline; submitting copies of audited annual accounts and audited income and expenditure account for the research activities to the tax exemptions office, the scientific department, and the local tax commissioner/director by the annual submission deadline; and filing the income tax return 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.
Research exemption approval: association must maintain separate research accounts and file prescribed annual returns and audited records.
Approval of the association for research exemption is conditional on maintaining separate books for research; furnishing an annual return of scientific research activities to the scientific department by the annual filing deadline; submitting copies of audited annual accounts and audited income and expenditure account for the research activities to the tax exemptions office, the scientific department, and the local tax commissioner/director by the annual submission deadline; and filing the income tax return with the designated assessing officer.
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