Scientific research association approval enables tax treatment for medical research subject to separate accounts, annual returns, and audited accounts compliance. The Narendra Seva Trust, Calcutta, is approved as a scientific research association for income-tax purposes, subject to maintaining a separate account for medical research funds, furnishing annual returns of scientific research activities to the prescribed authority by 31st May in the prescribed form, and submitting the annual audited statement of accounts to the authority by 31st May while also sending a copy to the concerned Income-tax Commissioner; the approval is effective for a specified limited 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.
Scientific research association approval enables tax treatment for medical research subject to separate accounts, annual returns, and audited accounts compliance.
The Narendra Seva Trust, Calcutta, is approved as a scientific research association for income-tax purposes, subject to maintaining a separate account for medical research funds, furnishing annual returns of scientific research activities to the prescribed authority by 31st May in the prescribed form, and submitting the annual audited statement of accounts to the authority by 31st May while also sending a copy to the concerned Income-tax Commissioner; the approval is effective for a specified limited period.
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 
