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of <h1>Grasim Medical Research Institute Approved for Tax Benefits Under Section 35(1)(ii) for 1988-1989; Compliance Required</h1> Grasim Medical Research Institute, Birlagram, Nagda, has been approved by the Department of Scientific and Industrial Research under section 35(1)(ii) of the Income-tax Act, 1961, for the period from April 1, 1988, to March 31, 1989. The institute is required 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 annual accounts and balance sheets by June 30 each year. The institute must apply for an extension of approval before it expires, or risk rejection of late applications.
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