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of <h1>Chennai's Institute of Road Transport approved for scientific research funding under Income-tax Act, Section 35(1)(ii) since 2009-2010.</h1> The Institute of Road Transport in Chennai has been approved by the Central Government for scientific research expenditure under section 35(1)(ii) of the Income-tax Act, 1961, effective from the 2009-2010 assessment year. The organization must utilize funds for scientific research, conducted by faculty or students, and maintain separate audited accounts for these funds. It must also provide a certified statement of donations and their application. Failure to comply with these conditions, such as maintaining separate accounts or conducting genuine research, may result in withdrawal of approval.
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