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of <h1>Mukund Foundation Approved for Scientific Research Funding Under Section 35(1)(ii) of Income-tax Act, 1961</h1> The Mukund Foundation for Agricultural Research in Coimbatore has been approved by the Department of Scientific and Industrial Research under section 35(1)(ii) of the Income-tax Act, 1961. This approval, effective from April 1, 1985, to March 31, 1987, requires the Foundation to maintain separate accounts for funds received for scientific research, submit annual returns of research activities, provide audited annual accounts and balance sheets, and apply for approval extension three months before expiry. Failure to comply with these conditions may result in rejection of extension applications.
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