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of <h1>K. J. Research Foundation approved under Income-tax Act sec 35(1)(ii) for 1988-1989; must maintain separate accounts.</h1> The K. J. Research Foundation in Madras has been approved by the Department of Scientific and Industrial Research under section 35(1)(ii) of the Income-tax Act, 1961, for the period from April 1, 1988, to March 31, 1989. The foundation must maintain separate accounts for funds received for scientific research, submit annual returns of its research activities by May 31 each year, and provide audited financial statements by June 30 each year. Additionally, the foundation must apply for an extension of approval before its expiration, with late applications subject to rejection.
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