Research institution approval under section 35(1)(ii) requires separate research accounts and annual audited returns to tax and science departments. Approval of NICMAR as an Institution under clause (ii) of sub section (1) of section 35 is subject to maintaining separate books for research, furnishing an annual scientific research return to the Department of Scientific and Industrial Research by 31 May, and annually submitting audited annual accounts and audited income & expenditure accounts for the research activities to the Tax Exemptions Office, the scientific research department, and the local Commissioner/Director of Income Tax by 31 October, in addition to filing the income tax return; renewal applications should be filed in triplicate well in advance.
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 institution approval under section 35(1)(ii) requires separate research accounts and annual audited returns to tax and science departments.
Approval of NICMAR as an Institution under clause (ii) of sub section (1) of section 35 is subject to maintaining separate books for research, furnishing an annual scientific research return to the Department of Scientific and Industrial Research by 31 May, and annually submitting audited annual accounts and audited income & expenditure accounts for the research activities to the Tax Exemptions Office, the scientific research department, and the local Commissioner/Director of Income Tax by 31 October, in addition to filing the income tax return; renewal applications should be filed in triplicate well in advance.
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