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of <h1>Indian Statistical Institute Approved for Tax Benefits Under Section 35(1)(iii) for 1990-1991; Annual Reporting Required</h1> The Indian Statistical Institute in Calcutta has been approved under section 35(1)(iii) of the Income-tax Act, 1961, effective from February 8, 1990, to March 31, 1991. The approval requires the institute to maintain separate accounts for scientific research funds, submit annual returns of its research activities by May 31 each year, and provide audited annual accounts by June 30 to relevant authorities. The institute is advised to apply for an extension of approval three months before expiry. In exceptional cases, applications for extension should be submitted promptly upon receipt of the approval order.
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