Research exemption approval requires separate research accounts and annual audited filings to tax and research authorities. Approval under section 35(1)(ii) recognizes M/s Zandu Foundation for Health Care as an eligible research Institution subject to maintaining separate books for research, filing an annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited research income & expenditure accounts to the Director General of Income Tax (Exemptions), the Secretary DSIR, and the Commissioner/Director of Income Tax (Exemptions) by 31 October, in addition to its return of income; renewal applications must be submitted in triplicate.
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Research exemption approval requires separate research accounts and annual audited filings to tax and research authorities.
Approval under section 35(1)(ii) recognizes M/s Zandu Foundation for Health Care as an eligible research Institution subject to maintaining separate books for research, filing an annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited research income & expenditure accounts to the Director General of Income Tax (Exemptions), the Secretary DSIR, and the Commissioner/Director of Income Tax (Exemptions) by 31 October, in addition to its return of income; renewal applications must be submitted in triplicate.
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