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<h1>Research institution approval ensures conditional tax recognition subject to annual reporting and audited accounts compliance.</h1> Approval is granted to the Bandra Holy Family Medical Research Society, Bombay, as an approved institution under clause (ii) of sub section (1) of section 35 for the period 1 4 1987 to 31 3 1988, subject to conditions: maintain separate research accounts; furnish annual scientific research returns by 31 May; submit audited annual accounts, income expenditure statement and balance sheet by 30 June with copies to tax authorities; and apply for extension three months before approval expiry.