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of <h1>Foundation for Medical Research Approved Under Section 35(1)(ii) for 1990-91; Must Follow Reporting Guidelines</h1> The Foundation for Medical Research, located in Bombay, has been approved under section 35(1)(ii) of the Income-tax Act, 1961, for the period from April 1, 1990, to March 31, 1991. This approval, granted by the Director-General of Income-tax (Exemptions) and the Secretary of the Department of Scientific and Industrial Research, requires the organization to maintain separate accounts for scientific research funds, submit annual returns of research activities by May 31 each year, and provide audited accounts by June 30 each year. The organization must apply for further approval extension three months before the current approval expires.
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