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of <h1>Lokmanya Medical Research Centre Approved for Scientific Research Under Section 35(1)(ii) of Income-tax Act 1961</h1> The Lokmanya Medical Research Centre in Pune has been approved under section 35(1)(ii) of the Income-tax Act, 1961, by the Department of Scientific and Industrial Research for scientific research purposes. The approval is effective from April 1, 1987, to March 31, 1988. The Centre must maintain separate accounts for research funds, submit annual returns of research activities by May 31, and provide audited accounts and balance sheets to the prescribed authority and the Central Board of Direct Taxes by June 30 each year. Additionally, the Centre must apply for approval extension three months prior to expiry.
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