Approval under section 35(1)(iii): institution recognised for research tax treatment subject to accounting, reporting and renewal conditions. The Spastics Society of Eastern India is approved as an approved institution for tax recognition of scientific research expenditure, subject to maintaining separate accounts for research receipts, furnishing annual returns of research activities to the prescribed authority in the prescribed form and by the prescribed date, submitting audited annual accounts and a balance sheet to the prescribed authority with copies to the Commissioner of Income-tax, and applying for approval extension in advance to the tax board to avoid rejection.