Research institution exemption requires institutional approval and annual reporting to the prescribed authority under tax law. Approval for research-expenditure exemption requires the institution to maintain a separate account for sums received for scientific research and to furnish an annual return of scientific research activities to the prescribed authority in prescribed forms, with returns due by 30th April each year; the Secretary, Department of Science & Technology, is the approving authority and the notification specifies an effective date for the approval.
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 exemption requires institutional approval and annual reporting to the prescribed authority under tax law.
Approval for research-expenditure exemption requires the institution to maintain a separate account for sums received for scientific research and to furnish an annual return of scientific research activities to the prescribed authority in prescribed forms, with returns due by 30th April each year; the Secretary, Department of Science & Technology, is the approving authority and the notification specifies an effective date for the approval.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
