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of <h1>Hexamar Agricultural Foundation gains tax approval under Income-tax Act Section 35(1)(ii) for research funding.</h1> The Hexamar Agricultural Research and Development Foundation in Bombay has been approved by the Department of Scientific and Industrial Research, New Delhi, under section 35(1)(ii) of the Income-tax Act, 1961. This approval, effective from April 1, 1988, to March 31, 1989, requires the foundation to maintain separate accounts for scientific research funds, submit annual returns of research activities by May 31, and provide audited accounts by June 30 each year. Additionally, the foundation must apply for approval renewal before expiration, with late applications subject to rejection.
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