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<h1>Indian Drug Research Association Approved Under Section 35(1)(ii) of Income-tax Act for 1988-1989; Must Maintain Separate Accounts</h1> The Indian Drug Research Association in Pune has been approved as an institution under section 35(1)(ii) of the Income-tax Act, 1961, by the Department of Scientific and Industrial Research, New Delhi. This approval is valid from April 1, 1988, to March 31, 1989. The institution must maintain separate accounts for scientific research funds, submit annual scientific research activity returns by May 31 each year, and provide audited annual accounts by June 30 each year to relevant authorities. It must also apply for approval extension before the current approval expires, or risk rejection.