Approval under section 35(1)(iii): Institution approved subject to exclusive research fund use and annual reporting requirements. Kalakshetra, Madras is approved by the prescribed authority for purposes of the income tax research exemption, effective for a specified three year term. The approval is conditional: funds collected under the exemption must be used exclusively for promotion of social science research; separate accounts must be maintained for those funds; and an annual report showing funds collected and their utilisation must be submitted to the prescribed authority.
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.
Approval under section 35(1)(iii): Institution approved subject to exclusive research fund use and annual reporting requirements.
Kalakshetra, Madras is approved by the prescribed authority for purposes of the income tax research exemption, effective for a specified three year term. The approval is conditional: funds collected under the exemption must be used exclusively for promotion of social science research; separate accounts must be maintained for those funds; and an annual report showing funds collected and their utilisation must be submitted to the prescribed authority.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
