Research approval under Section 35(1)(ii) requires compliant accounting and audit to preserve tax favoured status for donations. Approval is granted to Wadia Institute of Himalayan Geology under clause (ii) of sub section (1) of section 35 read with Rules 5C and 5E, effective 1 4 1998, as an 'other Institution' partly engaged in scientific research, subject to conditions: sums received must be used for scientific research; research must be carried out by faculty or enrolled students; separate books of account and a separate statement of donations and amounts applied must be maintained; such books must be audited by a defined accountant and the audit report and certified donations statement furnished to the tax authority by the income tax return due date.
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 approval under Section 35(1)(ii) requires compliant accounting and audit to preserve tax favoured status for donations.
Approval is granted to Wadia Institute of Himalayan Geology under clause (ii) of sub section (1) of section 35 read with Rules 5C and 5E, effective 1 4 1998, as an 'other Institution' partly engaged in scientific research, subject to conditions: sums received must be used for scientific research; research must be carried out by faculty or enrolled students; separate books of account and a separate statement of donations and amounts applied must be maintained; such books must be audited by a defined accountant and the audit report and certified donations statement furnished to the tax authority by the income tax return due date.
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