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of <h1>Organon Research Centre Receives Approval Under Section 35(1)(ii) of Income-tax Act; Must Comply with Reporting Requirements</h1> The Organon Research Centre in Calcutta has been approved by the Department of Scientific and Industrial Research under section 35(1)(ii) of the Income-tax Act, 1961, effective from January 1, 1986, to March 31, 1988. The approval requires the Centre to maintain separate accounts for scientific research funds, submit annual scientific research activity returns by April 30, and provide audited annual accounts by June 30 each year. Additionally, the Centre must apply for approval extension three months before expiry to the Central Board of Direct Taxes. The notification outlines these conditions for compliance.
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