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of <h1>Serum Institute of India Research Foundation Gains Section 35(1)(ii) Income-tax Act Approval for Scientific Research Funding</h1> The Serum Institute of India Research Foundation, Pune, 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, Department of Scientific and Industrial Research. This approval, effective from April 1, 1991, to March 31, 1991, requires the organization to maintain separate accounts for scientific research funds, submit annual returns of its activities by May 31 each year, and provide audited annual accounts by June 30. The organization must apply for approval extension three months before expiration through the appropriate tax authorities.
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