Approval of research institution status: conditional on separate research accounts, annual returns, audited accounts and timely renewal application. Approval is granted to the Forbes Research Centre, New Delhi, subject to maintaining a separate account for research receipts, furnishing prescribed annual returns of scientific research activities by the annual deadline, and submitting audited annual accounts and balance sheet showing income, expenditure, assets and liabilities to the prescribed authority, the central tax administration and the relevant Commissioner within the specified yearly timeframe. Approval is time-limited and requires advance application for renewal to the tax administration.