Approved Institution Institute of Financial Management and Research, Madras u/s 35(1)(ii)
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Research institution approval under section 35(1)(ii) requires separate research accounts, annual returns, and audited accounts to authorities.
Approval under section 35(1)(ii) recognises the Institute of Financial Management & Research, Madras as an "Association" for specified natural and applied sciences; it must maintain separate research accounts and comply with prescribed reporting: annual research returns by 30 April and audited annual accounts (income and expenditure and balance sheet) to the prescribed authority and the concerned Commissioner by 30 June. The approval is effective for a three-year period from April 1, 1981 to March 31, 1984.