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of <h1>Bhagwan Mahavir Trust Approved for Medical Research Under Section 35(1)(ii) of Income-tax Act, 1961</h1> The Bhagwan Mahavir Memorial Trust in Hyderabad has been approved by the Indian Council of Medical Research as a 'Scientific Research Association' for medical research under section 35(1)(ii) of the Income-tax Act, 1961. This approval is effective from March 3, 1982, for two years. The Trust must maintain a separate account for funds received for medical research, submit annual returns of its research activities by May 31 each year, and provide an annual audited statement of accounts to both the Council and the Income-tax Commissioner.
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