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of <h1>Bhartiya Vidya Bhavan Approved Under Section 35(1)(ii) for Tax Benefits; Conditions Apply Until Dec 31, 1985</h1> The notification announces that the Bhartiya Vidya Bhavan, Bombay, has been approved as an institution under section 35(1)(ii) of the Income-tax Act, 1961, effective until December 31, 1985. This approval is subject to conditions requiring the institution to maintain a separate account for funds received for scientific research, submit annual returns of its scientific research activities by April 30 each year, and provide audited annual accounts and balance sheets by June 30 each year to the prescribed authority and the concerned Commissioner of Income-tax. This supersedes a previous notification from May 1, 1974.
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