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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>K.J. Research Foundation gains approval under Section 35(1)(ii) of Income Tax Act for 2000-2003, with compliance requirements.</h1> Organisation K.J. Research Foundation has been approved under section 35(1)(ii) of the Income Tax Act, 1961, effective from April 1, 2000, to March 31, 2003. This approval by the Central Government requires the organisation to maintain separate accounts for research activities and submit annual returns of its scientific research activities to the Department of Scientific & Industrial Research by May 31 each year. Additionally, audited annual accounts and income & expenditure accounts must be submitted to relevant tax authorities by October 31 annually. The organisation must apply for renewal of approval well in advance through the appropriate tax authorities.
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