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of <h1>Sangeet Research Academy Gains Approval for Tax Benefits Under Section 35(1)(ii) of Income-tax Act 1961</h1> The Sangeet Research Academy in Calcutta has been approved by the Department of Scientific and Industrial Research for the purposes of section 35(1)(ii) of the Income-tax Act, 1961. This approval is valid from April 1, 1986, to March 31, 1987. The Academy must maintain separate accounts for funds received for scientific research, submit annual returns of its research activities, and provide audited annual accounts to the prescribed authority and the Commissioner of Income-tax. Additionally, the Academy must apply for extension of approval three months before its expiry to avoid rejection.
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