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of <h1>Nanawati Hospital Medical Research Centre Approved for Tax Benefits under Section 35(1)(ii) of the Income-tax Act, 1961</h1> The Nanawati Hospital Medical Research Centre in Bombay has been approved under section 35(1)(ii) of the Income-tax Act, 1961, by the Department of Scientific and Industrial Research. The approval is valid from January 1, 1987, to March 31, 1988. The institution must maintain separate accounts for funds received for scientific research, submit annual returns of its research activities, and provide audited financial statements to the prescribed authority and the Central Board of Direct Taxes by specified deadlines. Additionally, the institution must apply for approval extension three months before the current approval expires.
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