Research approval under Section 35(1)(ii) conditions tax-exempt donations on strict accounting, audit and research-use compliance. Approval recognises Hyderabad Eye Research Foundation as an 'other institution' partly engaged in scientific research under Section 35(1)(ii) effective 1-4-2007, subject to conditions: utilisation of sums for scientific research; research performed by faculty or enrolled students; maintenance of separate books of account for research receipts and expenditures; audit of those books by a qualified accountant with the audit report furnished to the tax authority by the income-tax return due date; and a separately certified statement of donations and amounts applied to research to accompany the audit report.
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 approval under Section 35(1)(ii) conditions tax-exempt donations on strict accounting, audit and research-use compliance.
Approval recognises Hyderabad Eye Research Foundation as an "other institution" partly engaged in scientific research under Section 35(1)(ii) effective 1-4-2007, subject to conditions: utilisation of sums for scientific research; research performed by faculty or enrolled students; maintenance of separate books of account for research receipts and expenditures; audit of those books by a qualified accountant with the audit report furnished to the tax authority by the income-tax return due date; and a separately certified statement of donations and amounts applied to research to accompany the audit report.
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