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of <h1>Matunga Education Research Society approved for tax benefits under Section 35(1)(iii); must meet specific reporting conditions.</h1> The Matunga Education Research Society in Bombay has been approved by the Department of Science and Technology, New Delhi, under section 35(1)(iii) of the Income-tax Act, 1961, effective from May 11, 1984, to March 31, 1986. The approval is subject to conditions including maintaining a separate account for scientific research funds, submitting annual returns of scientific activities by April 30 each year, and providing 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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