Exemption under section 35(1)(ii): Nanavati Hospital Medical Research Centre approved by prescribed authority for research expenditure recognition. The Nanavati Hospital Medical Research Centre, Bombay, has been notified as approved by the prescribed authority for the purposes of clause (ii) of sub ... Summary
Exemption under section 35(1)(ii): Nanavati Hospital Medical Research Centre approved by prescribed authority for research expenditure recognition.
The Nanavati Hospital Medical Research Centre, Bombay, has been notified as approved by the prescribed authority for the purposes of clause (ii) of sub section (1) of section 35 of the Income tax Act, 1961, making the institution eligible under the statutory framework that links prescribed authority approval to recognition of research expenditure for tax exemption.
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