Approval under section 35(1)(ii) imposes separate research accounts, annual returns and audited accounts filing obligations. Approval is granted to Jai Research Foundation, Gujarat as an Association under clause (ii) of sub section (1) of section 35 of the Income tax Act for 1 4 1987 to 31 3 1988, subject to maintaining a separate research account, furnishing annual returns of scientific research activities by 31 May, submitting audited annual accounts and balance sheet to the prescribed authority, the Central Board of Direct Taxes and the concerned Commissioner by 30 June, and applying to the Central Board for extension at least three months before approval expiry.