Approval under section 35(1)(iii) for research institutions mandates separate research accounts and annual audited submissions. Approval under section 35(1)(iii) recognizes Vivekananda Nidhi, Calcutta, as an institution for scientific research subject to conditions: maintain a separate account for research receipts; furnish annual returns of research activities to the prescribed authority by 30 April each year; submit audited annual accounts and a balance sheet to the prescribed authority by 30 June each year with copies to the concerned Commissioner of Income-tax; and apply to the Central Board of Direct Taxes three months before approval expiry for extension.