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of <h1>Vedanta Cultural Foundation Approved for Tax Benefits Under Section 35(1)(iii) for Social Science Research Activities</h1> Vedanta Cultural Foundation, Mumbai, has been approved by the Central Government as an organization under section 35(1)(iii) of the Income-tax Act, 1961, effective from the 2010-2011 assessment year. The foundation is recognized for its research activities in social sciences, subject to conditions such as utilizing funds for research, maintaining separate audited accounts, and providing detailed reports of donations and expenditures. The approval may be withdrawn if the foundation fails to comply with these conditions, including maintaining proper accounts, submitting audit reports, or continuing genuine research activities.
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