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of <h1>Natya Shodh Sansthan gains approval under Section 35(1)(iii) of Income-tax Act for research, with strict reporting rules.</h1> Natya Shodh Sansthan in Calcutta has been approved by the Central Government under section 35(1)(iii) of the Income-tax Act, 1961, for a period from April 1, 2000, to March 31, 2003. The institution must maintain separate accounts for its research activities and submit annual returns of its scientific research to the Department of Scientific and Industrial Research by May 31 each year. Additionally, it must provide audited annual accounts and income and expenditure statements to relevant tax authorities by October 31 annually. The institution is advised to apply for an extension of approval in advance.
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