Research expenditure exemption requires separate accounts and annual reporting by the university to retain income tax benefit. Approval for Income-tax exemption under clause (ii) of sub-section (1) of section 35 is granted to the University of Udaipur for research in other natural and applied sciences, excluding Agriculture, Animal Husbandry, Fisheries and Medicine; the University must maintain separate accounts for sums received for qualifying research and furnish an annual return of its scientific research activities to the prescribed authority in prescribed forms by the annual deadline to comply with the exemption conditions.
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 requires separate accounts and annual reporting by the university to retain income tax benefit.
Approval for Income-tax exemption under clause (ii) of sub-section (1) of section 35 is granted to the University of Udaipur for research in other natural and applied sciences, excluding Agriculture, Animal Husbandry, Fisheries and Medicine; the University must maintain separate accounts for sums received for qualifying research and furnish an annual return of its scientific research activities to the prescribed authority in prescribed forms by the annual deadline to comply with the exemption conditions.
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