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of <h1>Central Government Approves Research Institutions for Tax Deduction under Section 35(1)(iii) of Income-tax Act 1961</h1> The Central Government has approved M/s. Lokmanya Medical Research Centre, Pune, and M/s. Madras School of Economics, Chennai, under Section 35(1)(iii) of the Income-tax Act, 1961, for the period from April 1, 2005, to March 31, 2008. These organizations are recognized as institutions partly engaged in research activities. They must maintain separate accounts for research activities and submit audited Income & Expenditure accounts to the relevant tax authorities. Additionally, they must provide an auditor's certificate detailing the funds received and expenditures incurred for research in social sciences or statistical research, enabling donors to claim deductions.
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