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of <h1>IIT Hyderabad Gains Tax Exemption for Scientific Research Under Section 35(1)(ii) of Income-tax Act, 1961</h1> The Indian Institute of Technology, Hyderabad, has been approved by the Central Government for exemption under Section 35(1)(ii) of the Income-tax Act, 1961, starting from the Assessment Year 2010-11. This approval is for the institution's engagement in scientific research activities. The institute must use received funds exclusively for scientific research, maintain separate audited accounts for these funds, and provide a certified statement of donations and expenditures. The approval may be withdrawn if the institute fails to meet these conditions or ceases genuine research activities.
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