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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Arvind Medical Research Foundation Gains Approval Under Section 35(1)(ii) of Income-tax Act; Must Adhere to Reporting Requirements.</h1> The Arvind Medical Research Foundation in Madurai has been approved by the Department of Scientific and Industrial Research, New Delhi, under section 35(1)(ii) of the Income-tax Act, 1961. This approval, effective from April 1, 1986, to March 31, 1989, requires the foundation to maintain separate accounts for scientific research funds, submit annual returns of research activities by April 30 each year, and provide audited financial statements by June 30 each year. Additionally, the foundation must apply for an extension of approval three months before its expiry to the Central Board of Direct Taxes.
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