Approval under section 35(1)(ii) conditions research tax recognition on separate accounts, annual returns and audited accounts. Approval under section 35(1)(ii) recognises Rajkot Cancer Society, Rajkot as an eligible institution for research related tax treatment, conditional on maintaining a separate account for research receipts, furnishing annual returns of scientific research activities to the prescribed authority, submitting audited annual accounts and balance sheet copies to the prescribed authority and the concerned tax commissioner, and timely applying to the Central Board of Direct Taxes for renewal of approval before expiry.