Approval as Scientific Research Association requires separate research accounts and annual audited returns to qualify for tax recognition. Approval is granted to Sanjeevan Medical Foundation, Miraj, as a Scientific Research Association subject to maintenance of a separate account for research funds, submission of prescribed annual returns of scientific research activities by 31 May each year, and furnishing an annual audited statement of accounts to the prescribed authority with a copy to the concerned Income tax Commissioner; the approval is time limited to the three year period stated in the notification.
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Provisions expressly mentioned in the judgment/order text.
Approval as Scientific Research Association requires separate research accounts and annual audited returns to qualify for tax recognition.
Approval is granted to Sanjeevan Medical Foundation, Miraj, as a Scientific Research Association subject to maintenance of a separate account for research funds, submission of prescribed annual returns of scientific research activities by 31 May each year, and furnishing an annual audited statement of accounts to the prescribed authority with a copy to the concerned Income tax Commissioner; the approval is time limited to the three year period stated in the notification.
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