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<h1>Section 35(1)(ii) approval requires annual research accounting, reporting by April and audited accounts submission by June.</h1> Approval under section 35(1)(ii) subjects the Institute of Medical Sciences, Panjagutta, to conditions: maintain a separate account for research receipts; file annual returns of scientific research activities to the prescribed authority by 30 April; submit audited annual accounts, income and expenditure statements and balance-sheet to the prescribed authority by 30 June with copies to the Commissioner of Income-tax; and apply to the Central Board of Direct Taxes for extension three months before approval expiry.