Research institution approval requires separate research accounts and annual audited returns to maintain tax related eligibility. The Rajkot Cancer Society, Rajkot, is approved as an Institution for research in other natural and applied sciences; it must maintain separate research accounts, file annual returns of scientific research activities with the prescribed authority by 30 April each year, and submit audited annual accounts, income and expenditure statements, and balance sheet to the prescribed authority and the concerned Commissioner of Income tax by 30 June each year.
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Provisions expressly mentioned in the judgment/order text.
Research institution approval requires separate research accounts and annual audited returns to maintain tax related eligibility.
The Rajkot Cancer Society, Rajkot, is approved as an Institution for research in other natural and applied sciences; it must maintain separate research accounts, file annual returns of scientific research activities with the prescribed authority by 30 April each year, and submit audited annual accounts, income and expenditure statements, and balance sheet to the prescribed authority and the concerned Commissioner of Income tax by 30 June each year.
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