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of <h1>Scitech Centre Approved for Scientific Research under Section 35(1)(ii) of Income-tax Act; Conditions Apply for Compliance.</h1> Scitech Centre in Mumbai has been approved by the Central Government under section 35(1)(ii) of the Income-tax Act, 1961, effective from April 1, 2001. This approval is for its classification as an institution partly engaged in scientific research. Conditions for this approval include utilizing funds solely for scientific research, conducting research through faculty or students, maintaining separate audited accounts for research funds, and providing certified statements of donations and expenditures. The approval may be revoked if the organization fails to meet these conditions or if its research activities are deemed non-genuine or non-compliant with the relevant legal provisions.
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