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of <h1>International College of Surgeons Approved for Tax Benefits Under Section 35(1)(ii) for 1988-1989; Must Maintain Compliance</h1> The International College of Surgeons in Bombay has been approved by the Department of Scientific and Industrial Research, New Delhi, under section 35(1)(ii) of the Income-tax Act, 1961, for the period from April 1, 1988, to March 31, 1989. The institution 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 annual accounts and balance sheets by June 30 each year to the prescribed authority and relevant tax authorities. The institution must apply for approval extension before expiration to avoid rejection.
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