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of <h1>Sri Venkateswara Institute approved for research under Section 35(1)(ii) of Income-tax Act, 1961; strict fund use conditions apply.</h1> Sri Venkateswara Institute of Medical Sciences in Tirupati, Andhra Pradesh, has been approved by the Central Government under Section 35(1)(ii) of the Income-tax Act, 1961, effective from April 1, 2005, as a university engaged in research activities. The approval mandates that funds received be used for scientific research, conducted by faculty or students, with separate accounting and auditing requirements. The organization must maintain detailed records of donations and expenditures for research. The approval can be revoked if these conditions are not met, or if the research activities are deemed non-genuine or discontinued.
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