Scientific Research Association approval imposes accounting and annual reporting conditions for tax recognition under income tax law. Mangalore Medical Relief Society is approved as a Scientific Research Association for purposes of section 35(1)(ii) of the Income-tax Act, subject to maintenance of a separate account for research funds, annual submission of research activity returns to the Council by 31st May, and annual audited accounts furnished to the Council and the concerned Income-tax Commissioner; the approval is effective for a specified three-year period beginning in late 1980.
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.
Scientific Research Association approval imposes accounting and annual reporting conditions for tax recognition under income tax law.
Mangalore Medical Relief Society is approved as a Scientific Research Association for purposes of section 35(1)(ii) of the Income-tax Act, subject to maintenance of a separate account for research funds, annual submission of research activity returns to the Council by 31st May, and annual audited accounts furnished to the Council and the concerned Income-tax Commissioner; the approval is effective for a specified three-year period beginning in late 1980.
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