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of <h1>ARC-International in Hyderabad gets tax exemption under Section 35(1)(ii) for scientific research; conditions apply.</h1> The Central Government has approved the International Advanced Research Centre for Power Metallurgy and New Materials (ARC-International) in Hyderabad for tax exemption under section 35(1)(ii) of the Income-tax Act, 1961, effective from the assessment year 2009-10. This approval is contingent upon the organization using funds solely for scientific research, conducting research through its faculty or students, maintaining separate audited accounts for research funds, and providing a certified statement of donations and expenditures. The approval is subject to withdrawal if ARC-International fails to meet these conditions, ceases research activities, or does not comply with relevant legal provisions.
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