Research approval under section 35(1)(ii) requires separate research accounts and annual audited reporting to retain tax-exempt status. Approval under section 35(1)(ii) recognises M/s Sir Hurkisondas Nurrotumdas Medical Research Society for research-expenditure exemption for 1.4.2003-31.3.2006, conditional on maintaining separate books for research (not required if classified as an Association), filing an annual scientific research return to the Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts and audited income & expenditure accounts for research to tax exemption authorities and the Department by 31 October, alongside the income-tax return. Renewal applications must be filed in triplicate through the tax exemption office and sent in three copies to the Department.
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Research approval under section 35(1)(ii) requires separate research accounts and annual audited reporting to retain tax-exempt status.
Approval under section 35(1)(ii) recognises M/s Sir Hurkisondas Nurrotumdas Medical Research Society for research-expenditure exemption for 1.4.2003-31.3.2006, conditional on maintaining separate books for research (not required if classified as an Association), filing an annual scientific research return to the Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts and audited income & expenditure accounts for research to tax exemption authorities and the Department by 31 October, alongside the income-tax return. Renewal applications must be filed in triplicate through the tax exemption office and sent in three copies to the Department.
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