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of <h1>National Institute of Advanced Studies Gains Tax Approval for Research Funding Under Section 35(1)(ii) of Income-tax Act</h1> The National Institute of Advanced Studies, located at the Indian Institute of Science Campus in Bangalore, has been approved under section 35(1)(ii) of the Income-tax Act, 1961, effective from September 30, 1991, to March 31, 1993. The approval, granted by the Director-General of Income-tax (Exemptions) and the Secretary of the Department of Scientific and Industrial Research, requires the institute to maintain separate accounts for scientific research funds, submit annual research activity returns by May 31, and provide audited accounts by June 30 each year. The institute must apply for an extension three months before the approval's expiration.
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