Tax approval for research donations permits donor benefits where the institution complies with research, accounting, audit and reporting requirements. Approval is granted to Dr. Prasanta Banerji Homeopathic Research Foundation as an approved institution eligible for donor tax benefits for sums used for scientific research, subject to conditions: research must be carried out by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited by a qualified accountant; the audit report must be furnished to tax authorities by the return due date; and a certified statement of donations and amounts applied to research must accompany the audit. Approval may be withdrawn for noncompliance or cessation of genuine research activity.
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Provisions expressly mentioned in the judgment/order text.
Tax approval for research donations permits donor benefits where the institution complies with research, accounting, audit and reporting requirements.
Approval is granted to Dr. Prasanta Banerji Homeopathic Research Foundation as an approved institution eligible for donor tax benefits for sums used for scientific research, subject to conditions: research must be carried out by faculty or enrolled students; separate books of account for research receipts and expenditures must be maintained and audited by a qualified accountant; the audit report must be furnished to tax authorities by the return due date; and a certified statement of donations and amounts applied to research must accompany the audit. Approval may be withdrawn for noncompliance or cessation of genuine research activity.
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