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<h1>Central Machine Tool Institute Approved for Scientific Research Under Section 35(1)(ii) of Income-tax Act 1961</h1> The Central Machine Tool Institute in Bangalore has been approved under section 35(1)(ii) of the Income-tax Act, 1961, for scientific research purposes. This approval, effective from April 1, 1990, to March 31, 1991, mandates the organization to maintain separate accounts for research funds, submit annual research activity returns by May 31, and provide audited financial accounts by June 30 each year to relevant tax and research authorities. For extension of approval, the organization must apply three months prior to expiration, or as soon as possible in exceptional cases, with applications sent to the relevant authorities.