Research institution approval for tax recognition requires separate accounts and annual return filing to authorities and commissioner. Approval of Natural Products Research Association, Bombay as an approved institution for tax recognition is subject to maintaining a separate account for non-agricultural scientific research, furnishing an annual return of research activities to the prescribed authority by 30 April each year, and submitting the annual return with the statement of accounts to the Commissioner of Income-tax; the approval is effective for a two-year period.
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.
Research institution approval for tax recognition requires separate accounts and annual return filing to authorities and commissioner.
Approval of Natural Products Research Association, Bombay as an approved institution for tax recognition is subject to maintaining a separate account for non-agricultural scientific research, furnishing an annual return of research activities to the prescribed authority by 30 April each year, and submitting the annual return with the statement of accounts to the Commissioner of Income-tax; the approval is effective for a two-year period.
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