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<h1>Indian Foundrymen Institute Approved for Tax Exemption Under Section 35(1)(ii) for 1991-92; Must Maintain Separate Accounts</h1> The Institute of Indian Foundrymen in Calcutta has been approved under section 35(1)(ii) of the Income-tax Act, 1961, for the period from April 1, 1991, to March 31, 1992. This approval, granted by the Director-General of Income-tax (Exemptions) and the Secretary, Department of Scientific and Industrial Research, requires the organization to maintain separate accounts for scientific research funds, submit annual scientific research activity reports by May 31, and provide audited annual accounts by June 30 to relevant authorities. The organization must apply for approval extension three months before expiry, with specific instructions for exceptional cases.