Approval under Section 35(1)(ii): donations to Chennai Mathematical Institute eligible when used for scientific research subject to audit and reporting. Chennai Mathematical Institute is approved as an other institution partly engaged in research for purposes of clause (ii) of sub section (1) of section 35 read with rules 5C and 5E, effective 1 4 2005, subject to utilization of donations for scientific research, research being conducted by faculty or enrolled students, maintenance of books of account, audit by a qualified accountant with timely submission of the audit report to the tax authorities, and retention of a separate auditor certified statement of donations and sums applied for scientific research.
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.
Approval under Section 35(1)(ii): donations to Chennai Mathematical Institute eligible when used for scientific research subject to audit and reporting.
Chennai Mathematical Institute is approved as an other institution partly engaged in research for purposes of clause (ii) of sub section (1) of section 35 read with rules 5C and 5E, effective 1 4 2005, subject to utilization of donations for scientific research, research being conducted by faculty or enrolled students, maintenance of books of account, audit by a qualified accountant with timely submission of the audit report to the tax authorities, and retention of a separate auditor certified statement of donations and sums applied for scientific research.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
