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<h1>Indian Register of Shipping Approved for Tax Exemption Under Section 35(1)(ii) for 1989-1990 with Specific Conditions</h1> The Indian Register of Shipping in Bombay has been approved under section 35(1)(ii) of the Income-tax Act, 1961, by the Director-General of Income-tax Exemptions and the Secretary of the Department of Scientific and Industrial Research. This approval, effective from April 1, 1989, to March 31, 1990, requires the organization to maintain separate accounts for scientific research funds, submit annual research activity returns by May 31, and provide audited financial accounts by June 30 each year. It must also apply for approval extension three months before expiry through the appropriate tax authorities.