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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Foundation for Medical Research Approved for Tax Benefits Under Section 35(1)(ii) of Income-tax Act, 1961</h1> The Foundation for Medical Research in Bombay has been approved by the Department of Scientific and Industrial Research for the purposes of section 35(1)(ii) of the Income-tax Act, 1961. This approval is effective from April 1, 1986, to March 31, 1990. The institution must maintain a separate account for funds received for scientific research, submit annual returns of its research activities by May 31, and provide audited accounts and balance sheets by June 30 each year. Additionally, the institution must apply for approval extension three months before expiry, with late applications subject to rejection.
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