Scientific research approval requires separate accounts, annual returns, and timely submission of annual accounts to tax authorities. Jagdale Scientific Research Foundation, Bangalore is approved under the Income-tax Act framework as an 'Association' for research in other natural and applied sciences, conditional on maintaining a separate account for research receipts outside specified fields. The foundation must file annual returns of research activities to the prescribed authority by 30th April and submit annual accounts, including income, expenditure and a balance-sheet, to the Income-tax Commissioner by 30th June. The approval is effective from 7th February, 1982 to 6th February, 1985.
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 approval requires separate accounts, annual returns, and timely submission of annual accounts to tax authorities.
Jagdale Scientific Research Foundation, Bangalore is approved under the Income-tax Act framework as an "Association" for research in other natural and applied sciences, conditional on maintaining a separate account for research receipts outside specified fields. The foundation must file annual returns of research activities to the prescribed authority by 30th April and submit annual accounts, including income, expenditure and a balance-sheet, to the Income-tax Commissioner by 30th June. The approval is effective from 7th February, 1982 to 6th February, 1985.
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