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of <h1>Mukund Foundation Approved for Scientific Research Under Section 35(1)(ii) of Income-tax Act for 1987-1988</h1> The Mukund Foundation for Agriculture Research in Coimbatore has been approved under section 35(1)(ii) of the Income-tax Act, 1961, effective from April 1, 1987, to March 31, 1988. The approval is granted by the Department of Scientific and Industrial Research, New Delhi, for scientific research purposes. The foundation must maintain separate accounts for research funds, submit annual returns of its research activities by May 31, and provide audited accounts and balance sheets by June 30 each year to the prescribed authority and the Central Board of Direct Taxes. It must also apply for approval extension three months before expiration.
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