Approval under section 35(1)(ii) requires separate research accounts, annual returns, audited accounts, and timely renewal application. Approval under the Income-tax Act is granted to the Muljibhai Patel Society for Research in Nephro-urology, Nadiad, Gujarat, as an Association subject to maintaining separate research accounts, furnishing annual research returns by 30th April, and submitting audited accounts and balance-sheet to the prescribed authority and the concerned Commissioner by 30th June, with a requirement to seek extension from the Central Board of Direct Taxes three months before expiry.