Research institution approval under statutory provision conditioned on separate accounts, annual returns, audited accounts and renewal application. Approval is granted to Maharashtra Rajya Draksha Bagitdar Sangha, Pune, as an Institution under clause (ii) of sub section (1) of section 35 of the Income tax Act, subject to conditions: maintain separate accounts for research receipts; furnish annual research returns to the prescribed authority by 31st May; submit audited annual accounts, income and expenditure statements and balance sheet to the prescribed authority by 30th June with copies to the tax authorities; and apply to the Central Board of Direct Taxes for extension of approval at least three months before expiry.