Institutional approval for research triggers mandatory separate accounts and annual audited reporting to prescribed authority and tax commissioner. Approval of the National Institute of Urban Affairs as an Institution under section 35(1) is notified subject to conditions: maintain separate accounts for research receipts; furnish annual returns of scientific research activities to the prescribed authority by 30 April each year; and submit audited annual accounts showing income, expenditure, assets and liabilities to the prescribed authority by 30 June each year with copies to the concerned Commissioner of Income-tax. Approval effective for a three-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.
Institutional approval for research triggers mandatory separate accounts and annual audited reporting to prescribed authority and tax commissioner.
Approval of the National Institute of Urban Affairs as an Institution under section 35(1) is notified subject to conditions: maintain separate accounts for research receipts; furnish annual returns of scientific research activities to the prescribed authority by 30 April each year; and submit audited annual accounts showing income, expenditure, assets and liabilities to the prescribed authority by 30 June each year with copies to the concerned Commissioner of Income-tax. Approval effective for a three-year period.
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