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of <h1>Central Government Approves National Institute of Hydrology as 'Scientific Research Association' u/s 35(1)(ii) of Income-tax Act.</h1> The Central Government has approved the organization, M/s National Institute of Hydrology (NIH), as a 'Scientific Research Association' under section 35(1)(ii) of the Income-tax Act, 1961, effective from the assessment year 2017-2018. NIH is required to conduct scientific research, maintain separate accounts for research funds, have these accounts audited, and submit audit reports to the relevant tax authorities. NIH must also keep a certified statement of donations and their application for research. The approval may be revoked if NIH fails to meet these conditions or if its research activities are deemed non-genuine or non-compliant with the Act and Rules.
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