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of <h1>Vittal Mallya Scientific Research Foundation Gains Approval Under Section 35(1)(ii) for Tax Benefits, Effective 1988-1989.</h1> The Vittal Mallya Scientific Research Foundation in Bangalore has been approved under section 35(1)(ii) of the Income-tax Act, 1961, by the Department of Scientific and Industrial Research. This approval is effective 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, and provide audited financial statements by June 30 each year. Additionally, it must apply for approval extension before expiry to avoid rejection. Copies of documents must be sent to relevant tax authorities.
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