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of <h1>Maharashtra Science Association Gains Approval Under Section 35(1)(ii) of Income-tax Act for 1987-1990 Research Funding</h1> The Maharashtra Association for the Cultivation of Science, Pune, 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 March 6, 1987, to March 31, 1990, requires the Association to maintain separate accounts for scientific research funds, submit annual returns of research activities by May 31, and provide audited accounts and balance sheets by June 30 each year. Additionally, the Association must apply for approval extension three months before expiry, with late applications subject to rejection.
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