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of <h1>Maharashtra Granthottejak Sansthan Gains Approval for Scientific Research Under Section 35(1)(iii) of Income-tax Act</h1> The Maharashtra Granthottejak Sansthan in Pune has been approved by the Department of Scientific and Industrial Research, New Delhi, as an institution under section 35(1)(iii) of the Income-tax Act, 1961, effective from February 17, 1987, to March 31, 1988. The institution must maintain a separate account for funds received for scientific research, submit annual returns of its research activities by May 31 each year, and provide audited annual accounts by June 30. It must also apply for approval extension three months before expiry to the Central Board of Direct Taxes, with late applications subject to rejection.
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