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of <h1>Bala Mandir Research Foundation Gains Approval for Scientific Research Under Section 35(1)(ii) of Income-tax Act, 1961</h1> The Bala Mandir Research Foundation in Madras has been approved under section 35(1)(ii) of the Income-tax Act, 1961, by the Department of Science & Technology, New Delhi, for scientific research purposes. This approval, effective from April 1, 1985, to March 31, 1987, requires the Foundation to maintain separate accounts for research funds, submit annual returns of research activities by April 30 each year, and provide audited financial statements by June 30 annually. Additionally, the Foundation must apply for approval extension three months before its expiry, with late applications subject to rejection.
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