Research expenditure exemption: institution approved for tax relief subject to annual reporting and prescribed authority oversight. Baroda Cancer Detection Centre, Baroda is approved by the Indian Council of Medical Research as the prescribed authority for clause (ii) of sub section (1) of section 35 of the Income tax Act, enabling research expenditure exemption subject to conditions. The Institute must submit annual reports and returns on research activities, donations received and actual expenditure incurred exclusively for research to the prescribed authority. The approval notification is effective for two years from 5 6 1976.
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 expenditure exemption: institution approved for tax relief subject to annual reporting and prescribed authority oversight.
Baroda Cancer Detection Centre, Baroda is approved by the Indian Council of Medical Research as the prescribed authority for clause (ii) of sub section (1) of section 35 of the Income tax Act, enabling research expenditure exemption subject to conditions. The Institute must submit annual reports and returns on research activities, donations received and actual expenditure incurred exclusively for research to the prescribed authority. The approval notification is effective for two years from 5 6 1976.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
