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of <h1>Lokmanya Medical Research Centre Gains Approval for Tax Benefits under Section 35(1)(ii) with Conditions, Valid 1985-1987.</h1> The Lokmanya Medical Research Centre in Pune has been approved under section 35(1)(ii) of the Income-tax Act, 1961, by the Department of Scientific & Industrial Research, New Delhi. This approval, valid from October 9, 1985, to March 31, 1987, is contingent upon several conditions: maintaining separate accounts for funds received for scientific research, submitting annual returns of research activities and audited accounts, and applying for approval extension three months before expiry. Failure to apply on time may result in rejection by the Central Board of Direct Taxes.
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