Section 35(1)(iii) approval requires institutions to keep separate research accounts and submit annual audited returns. Approval under section 35(1)(iii) is granted to Swami Ramanand Teerth Institute as an approved research institution subject to conditions: maintain separate accounts for scientific research receipts; furnish annual scientific research returns by 30 April; submit audited annual accounts, including income, expenditure and balance-sheet, to the prescribed authority by 30 June with copies to the Commissioner; and apply to the Central Board of Direct Taxes for extension three months before expiry. The approval runs from 23 February 1986 to 31 March 1988.