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of <h1>Third World Development Centre Gains Approval for Scientific Research Under Section 35(1)(iii) of Income-tax Act 1961</h1> The Third World Development Centre, New Delhi, has been approved by the Department of Scientific and Industrial Research under section 35(1)(iii) of the Income-tax Act, 1961. This approval is effective from April 1, 1988, to March 31, 1989. The Centre must maintain separate accounts for funds received for scientific research, submit annual returns of its research activities, and provide audited annual accounts to the prescribed authority and relevant tax bodies by specified deadlines. Additionally, the Centre must apply for approval extension before the current approval expires, as late applications may be rejected.
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