Research institution approval enables tax recognition subject to annual reporting, audited accounts, and timely renewal conditions. The Goa Cancer Society was approved as a research Institution for tax purposes for 1 April 1987-31 March 1988, subject to conditions: maintain a separate account for research receipts; file annual returns of research activities by 31 May; submit audited annual accounts, income and expenditure statements and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30 June; and apply to the Central Board of Direct Taxes at least three months before expiry for extension, with late applications liable to rejection.