Approved institution status permits tax exempt research funds subject to separate accounting, exclusive use for social science research, and annual reporting. Approval of the Textiles Committee, Bombay as an approved institution under the Income tax Act is subject to maintaining separate accounts for exempt ... Summary
Approved institution status permits tax exempt research funds subject to separate accounting, exclusive use for social science research, and annual reporting.
Approval of the Textiles Committee, Bombay as an approved institution under the Income tax Act is subject to maintaining separate accounts for exempt funds, using such funds exclusively for promotion of social science research, and submitting an annual report to the prescribed authority detailing amounts collected and their utilisation; the approval is effective for the notified period.
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