Scientific research association approval grants tax recognition subject to separate accounts and mandatory annual reporting. Approval is granted to the Nutrition Foundation of India as a scientific research association for tax recognition, subject to maintaining a separate account for medical research receipts; furnishing an annual return of scientific research activities to the prescribed authority by 31st May in the prescribed form; and furnishing the annual audited statement of accounts to the prescribed authority by 31st May and sending a copy to the concerned Income-tax Commissioner. The approval is effective for a specified two-year period beginning in late September 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 grants tax recognition subject to separate accounts and mandatory annual reporting.
Approval is granted to the Nutrition Foundation of India as a scientific research association for tax recognition, subject to maintaining a separate account for medical research receipts; furnishing an annual return of scientific research activities to the prescribed authority by 31st May in the prescribed form; and furnishing the annual audited statement of accounts to the prescribed authority by 31st May and sending a copy to the concerned Income-tax Commissioner. The approval is effective for a specified two-year period beginning in late September 1980.
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