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of <h1>Bandra Holy Family Medical Research Society gains approval under Income-tax Act Section 35(1)(ii) for research activities.</h1> The Bandra Holy Family Medical Research Society in Bombay has been approved by the Department of Scientific and Industrial Research, New Delhi, under section 35(1)(ii) of the Income-tax Act, 1961. This approval, effective from April 1, 1987, to March 31, 1988, requires the institution to maintain separate accounts for scientific research funds, submit annual returns of its research activities by May 31 each year, and provide audited financial statements by June 30. The institution must also apply for approval extension three months before expiration. Failure to comply may result in rejection of extension applications.
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