Approval under research-exemption grants conditional institution status subject to accounting, audit and donation-use compliance. Approval recognizes Jai Research Foundation Society as an approved institution for research, conditional on using received sums for scientific research, conducting research through faculty or enrolled students, maintaining separate books of account for research funds, obtaining an audit by a qualified accountant, and furnishing the audit report and a certified statement of donations and their application by the income-tax return due date; approval is withdrawable for failures in accounting, audit filing, donation-statement filing, genuineness of research activity, or noncompliance with applicable statutory and regulatory conditions.
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.
Approval under research-exemption grants conditional institution status subject to accounting, audit and donation-use compliance.
Approval recognizes Jai Research Foundation Society as an approved institution for research, conditional on using received sums for scientific research, conducting research through faculty or enrolled students, maintaining separate books of account for research funds, obtaining an audit by a qualified accountant, and furnishing the audit report and a certified statement of donations and their application by the income-tax return due date; approval is withdrawable for failures in accounting, audit filing, donation-statement filing, genuineness of research activity, or noncompliance with applicable statutory and regulatory conditions.
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