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of <h1>Bal Mandir Research Foundation Gains Approval for Tax Benefits Under Section 35(1)(ii) of Income-tax Act 1961</h1> The Bal Mandir Research Foundation in Madras has been approved by the Department of Science & Technology, New Delhi, under section 35(1)(ii) of the Income-tax Act, 1961. This approval, effective from February 11, 1984, to March 31, 1985, requires the foundation to maintain separate accounts for funds received for scientific research. It must submit annual returns of its research activities by April 30 each year and provide audited annual accounts, income and expenditure statements, and a balance sheet by June 30 each year to the prescribed authority and the relevant Commissioner of Income-tax.
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