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of <h1>Ferrous Metal Research Centre Approved for Tax Benefits Under Section 35(1)(ii) of Income-tax Act, 1961</h1> The Ferrous Metal Research Centre in New Delhi has been approved by the Department of Science and Technology for purposes under section 35(1)(ii) of the Income-tax Act, 1961. The approval is effective from October 12, 1983, to March 31, 1985. The Centre must maintain separate accounts for funds received for scientific research, submit annual returns of research activities by April 30 each year, and provide audited annual accounts and balance sheets to the prescribed authority and the Commissioner of Income-tax by June 30 each year.
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