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of <h1>Government Approves Research Organizations Under Section 35(1)(ii) of Income-tax Act with Conditions for 1999-2001 Period</h1> The Central Government has approved certain organizations under section 35(1)(ii) of the Income-tax Act, 1961, for a specified period, subject to several conditions. These organizations must maintain separate accounts for research activities, submit annual returns of scientific research to the Department of Scientific & Industrial Research by May 31 each year, and provide audited annual accounts and income statements to designated authorities by October 31. The approved entities include the National Institute of Ocean Technology in Chennai and the Advanced Centre for Cryogenic Research at Jadavpur University, effective from April 1, 1999, to March 31, 2001.
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