Research institution approval under section 35(1)(ii) conditions tax-related recognition on separate research accounts and annual filings. Approval of Ramakrishna Mission Vivekananda College, Madras as an approved research association under section 35(1)(ii) is notified, subject to maintaining a separate account for scientific research receipts; furnishing annual returns of scientific research activities to the prescribed authority by 30th April each year; and submitting audited annual accounts, income and expenditure statements and a balance-sheet to the prescribed authority by 30th June each year, with copies to the concerned Commissioner of Income-tax.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval under section 35(1)(ii) conditions tax-related recognition on separate research accounts and annual filings.
Approval of Ramakrishna Mission Vivekananda College, Madras as an approved research association under section 35(1)(ii) is notified, subject to maintaining a separate account for scientific research receipts; furnishing annual returns of scientific research activities to the prescribed authority by 30th April each year; and submitting audited annual accounts, income and expenditure statements and a balance-sheet to the prescribed authority by 30th June each year, with copies to the concerned Commissioner of Income-tax.
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