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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Bala Mandir Research Foundation Approved Under Section 35(1)(ii) for Tax Benefits; Must Adhere to Reporting Deadlines</h1> The Bala Mandir Research Foundation in Madras has been approved under section 35(1)(ii) of the Income-tax Act, 1961, by the Department of Scientific and Industrial Research, New Delhi. This approval, effective from April 1, 1987, to March 31, 1989, requires the foundation to maintain separate accounts for scientific research funds, submit annual returns of its research activities by May 31, and provide audited financial accounts by June 30 each year. Additionally, the foundation must apply for approval extension three months before expiry. Failure to comply may result in rejection of the extension application.
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