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of <h1>Organization Approved Under Section 35(1) of Income-tax Act for Research, Subject to Compliance and Renewal Requirements</h1> The Central Government has approved an organization under section 35(1) of the Income-tax Act, 1961, effective from April 1, 2002, to March 31, 2005. This approval is subject to conditions including maintaining separate accounts for research activities, submitting an annual return of scientific research activities by May 31 each year, and providing audited annual accounts and income statements by October 31 to designated authorities. The organization must apply for renewal in triplicate to the relevant tax authorities and the Department of Scientific and Industrial Research.
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