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of <h1>Ved Vignan Mahavidyapeeth gains approval for scientific research under Section 35(1)(iii) of Income-tax Act, 1961.</h1> The Ved Vignan Mahavidyapeeth in Bangalore has been approved by the Department of Scientific & Industrial Research for the purposes of section 35(1)(iii) of the Income-tax Act, 1961. The institution must maintain a separate account for funds received for scientific research, submit annual returns of its research activities by May 31st, and provide audited accounts and balance sheets by June 30th each year to the prescribed authority and the Central Board of Direct Taxes. Additionally, it must apply for approval extension three months before expiry. This approval is valid from April 14, 1987, to March 31, 1988.
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