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of <h1>Mahatma Gandhi Memorial College Trust Receives Approval Under Section 35(1)(iii) of Income-tax Act for Scientific Research</h1> The Mahatma Gandhi Memorial College Trust in Udupi has been approved by the Department of Scientific and Industrial Research under section 35(1)(iii) of the Income-tax Act, 1961. This approval, effective from April 1, 1988, to March 31, 1989, requires the Trust to maintain separate accounts for funds received for scientific research, submit annual returns of its research activities by May 31 each year, and provide audited accounts and balance sheets by June 30. The Trust must apply for extension of approval before its expiry to avoid rejection.
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