Research institution approval under tax law: requires separate research accounts, annual returns, and audited accounts to tax authority. Approval under section 35(1)(ii) classifies The Diabetes Research Centre, Madras as an 'Association' for research tax purposes, subject to conditions: maintain a separate account for research receipts; furnish annual returns of scientific research activities by 30th April each year; and submit audited annual accounts, income and expenditure statements, and balance-sheet to the prescribed authority by 30th June with copies to the concerned Commissioner of Income-tax.
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 under tax law: requires separate research accounts, annual returns, and audited accounts to tax authority.
Approval under section 35(1)(ii) classifies The Diabetes Research Centre, Madras as an "Association" for research tax purposes, subject to conditions: maintain a separate account for research receipts; furnish annual returns of scientific research activities by 30th April each year; and submit audited annual accounts, income and expenditure statements, and balance-sheet to the prescribed authority by 30th June with copies to the concerned Commissioner of Income-tax.
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