Research institution approval under income-tax law requires separate research accounts, annual returns and audited submissions before renewal. Approval is granted to Sankara Medical Research Centre, Madras, as an approved research association subject to conditions: maintain a separate account for research receipts; furnish annual returns of scientific research activities to the prescribed authority by 31st May; submit audited annual accounts, income and expenditure statement and balance-sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner of Income-tax by 30th June; and apply to the Central Board of Direct Taxes for extension at least three months before approval expiry.