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of <h1>Karnataka Cancer Therapy Institute Gains Section 35(1)(ii) Approval for Tax Benefits; Must Maintain Research Accounts and Reports.</h1> The Karnataka Cancer Therapy and Research Institute in Karnataka 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 January 1, 1987, to March 31, 1989, requires the institute to maintain separate accounts for research funds, submit annual returns of research activities, provide audited financial statements, and apply for approval extension three months before expiry. These documents must be submitted to the prescribed authority, the Central Board of Direct Taxes, and the concerned Commissioner of Income-tax.
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