Research institution approval requires annual reporting and audited accounts under income tax law to preserve research-related tax benefits. Approval is granted to the Centre for Social Research, New Delhi, as an approved institution under the Income-tax Act subject to conditions: maintain a separate account for sums received for scientific research; furnish an annual return of scientific research activities to the prescribed authority by 30th April in the prescribed form; and submit by 30th June audited annual accounts showing total income and expenditure and a balance-sheet, with copies to the concerned Commissioner of Income-tax. The notification specifies the institution and the effective period of approval.
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 annual reporting and audited accounts under income tax law to preserve research-related tax benefits.
Approval is granted to the Centre for Social Research, New Delhi, as an approved institution under the Income-tax Act subject to conditions: maintain a separate account for sums received for scientific research; furnish an annual return of scientific research activities to the prescribed authority by 30th April in the prescribed form; and submit by 30th June audited annual accounts showing total income and expenditure and a balance-sheet, with copies to the concerned Commissioner of Income-tax. The notification specifies the institution and the effective period of approval.
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