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of <h1>Shriram Scientific gets Central Government nod under Section 35(1)(ii) of Income-tax Act for research funding.</h1> Shriram Scientific and Industrial Research Foundation, New Delhi, has been approved by the Central Government under Section 35(1)(ii) of the Income-tax Act, 1961, effective from April 1, 2003. This approval, for its partial engagement in research activities, requires the organization to utilize received funds for scientific research, conduct research through faculty or students, maintain separate audited accounts, and provide a certified statement of donations and expenditures for research. The approval can be withdrawn if the organization fails to meet these requirements or if its research activities are deemed non-genuine or non-compliant with the specified provisions.
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