Research institution approval requires separate research accounts and annual audited returns to preserve approved tax status. Approval of Serum Institute of India Research Foundation, Poona as an Institution for tax recognition in the sciences is conditional on maintaining a separate account for research receipts, furnishing annual returns of scientific research activities to the prescribed authority by 30th April, and submitting audited annual accounts and balance-sheet to the prescribed authority with a copy to the Commissioner of Income-tax by 30th June; approval is effective from 4-1-1983 to 31-12-1983.
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 requires separate research accounts and annual audited returns to preserve approved tax status.
Approval of Serum Institute of India Research Foundation, Poona as an Institution for tax recognition in the sciences is conditional on maintaining a separate account for research receipts, furnishing annual returns of scientific research activities to the prescribed authority by 30th April, and submitting audited annual accounts and balance-sheet to the prescribed authority with a copy to the Commissioner of Income-tax by 30th June; approval is effective from 4-1-1983 to 31-12-1983.
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