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of <h1>Karnataka Cancer Institute Gains Approval Under Section 35(1)(ii) for Research Funding; Compliance and Reporting Required.</h1> The Karnataka Cancer Therapy & Research Institute in Hubli has been approved under section 35(1)(ii) of the Income-tax Act, 1961, by the Department of Science & Technology, New Delhi. This approval is valid from June 2, 1985, to December 31, 1986. The institute must maintain separate accounts for funds received for scientific research, submit annual returns of research activities by April 30, and provide audited financial accounts by June 30 each year to the prescribed authority and the Commissioner of Income-tax. For approval extension, the institute must apply three months before expiry, or risk rejection if submitted late.
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