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of <h1>Indian Institute of Management Approved for Scientific Research Under Section 35(1)(iii) of the Income-tax Act, 1961</h1> The Indian Institute of Management, located on Bannerghatta Road, Bangalore, has been approved by the Department of Scientific & Industrial Research, New Delhi, under section 35(1)(iii) of the Income-tax Act, 1961. This approval is effective from October 9, 1985, to March 31, 1987. The institute must maintain separate accounts for funds received for scientific research, submit annual returns of its research activities by April 30 each year, and provide audited annual accounts by June 30. Additionally, the institute must apply for approval extension three months before expiry to avoid rejection.
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