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of <h1>National Agricultural and Scientific Research Foundation Gains Approval for Scientific Research Under Section 35(1)(ii) of Income-tax Act</h1> The National Agricultural and Scientific Research Foundation in Calcutta has been approved under section 35(1)(ii) of the Income-tax Act, 1961, for scientific research purposes. The approval, effective from April 1, 1990, to March 31, 1992, requires the organization to maintain separate accounts for research funds, submit annual scientific research activity returns by May 31 each year, and provide audited annual accounts by June 30 to relevant tax and research authorities. The organization should apply for an extension of approval three months before expiration, with specific procedures outlined for exceptional cases.
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