Research approval under Section 35(1)(iii) conditions tax recognition on separate research accounts, annual returns, audited accounts, and timely renewal. Approval under Section 35(1)(iii) recognizes the Research and Documentation Centre in Social Welfare and Development, Bombay as an institution for scientific research, subject to maintaining separate research accounts, furnishing prescribed annual returns of research activities, submitting audited annual accounts and balance-sheet to the prescribed authority with copies to the Commissioner, and applying for extension three months before approval expiry.