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of <h1>K.E.M. Hospital Research Centre Gains Approval for Scientific Research Under Section 35(1)(ii) of Income-tax Act</h1> The K.E.M. Hospital Research Centre in Pune has been approved by the Department of Scientific and Industrial Research for scientific research under section 35(1)(ii) of the Income-tax Act, 1961. This approval, effective from January 1, 1987, to March 31, 1988, mandates the institution 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 each year. Additionally, the institution must apply for approval extension from the Central Board of Direct Taxes three months before the current approval expires, with late applications subject to rejection.
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