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of <h1>Central Government Approves AcSIR for Tax Benefits Under Section 35(1)(ii) from 2015 Onwards for Scientific Research.</h1> The Academy of Scientific and Innovative Research (AcSIR), New Delhi, has been approved by the Central Government under section 35(1)(ii) of the Income-tax Act, 1961, for assessment year 2015-2016 onwards. The organization is recognized as a 'University College and other Institution' engaged in scientific research. Conditions for approval include utilizing funds for scientific research, conducting research through faculty or students, maintaining separate audited accounts for research funds, and providing certified donation statements. Approval may be withdrawn if AcSIR fails to comply with these conditions or ceases genuine research activities.
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