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<h1>Kolkata Organization Gains Tax Benefits for Research u/s 35(1)(ii) of Income-tax Act, 1961.</h1> The Central Government has approved an organization in Kolkata for tax benefits under Section 35(1)(ii) of the Income-tax Act, 1961, effective from April 1, 2008. This approval is for institutions partly engaged in research activities and is subject to specific conditions. The organization must utilize funds for scientific research, conduct research through faculty or students, maintain separate audited accounts for research funds, and submit audit reports and donation statements to tax authorities. Approval may be withdrawn if these conditions are not met or if research activities are deemed non-genuine.