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of <h1>National Council for Applied Economic Research Approved for Scientific Research Under Income-tax Act Section 35(1)(ii)</h1> The Central Government has approved the National Council for Applied Economic Research, New Delhi, under section 35(1)(ii) of the Income-tax Act, 1961, effective from April 1, 2002, for scientific research purposes. The organization must use funds for scientific research, conduct research through faculty or students, and maintain audited separate accounts for these funds. It must also provide a certified statement of donations and their application. Approval may be withdrawn if the organization fails to maintain separate accounts, furnish audit reports, provide donation statements, or if its research activities are not genuine or compliant with the Act and Rules.
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