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of <h1>Institute of Rural Management Approved for Tax Benefits under Section 35(1)(iii) for Scientific Research Funding</h1> The Institute of Rural Management in Anand, Gujarat, has been approved under section 35(1)(iii) 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 institute must maintain separate accounts 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 to the prescribed authorities. Additionally, the institute must apply for approval extension before its expiration to avoid rejection.
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