Research institution approval requires separate research accounts, annual returns, audited accounts, and advance renewal application. Approval of Salgaocar Medical Research Centre as an approved institution under clause (ii) of sub-section (1) of section 35 is effective from 1-4-1986 to 31-3-1989 and conditioned on maintaining a separate account for scientific research receipts, furnishing annual returns of research activities by 31 May, submitting audited annual accounts and balance-sheet copies by 30 June to the prescribed authority, the Central Board of Direct Taxes, and the concerned Commissioner of Income-tax, and applying for extension at least three months before expiry.