Approval under section 35(1)(ii) granted with conditions on separate research accounts, annual returns and audited submissions. Approval is granted to Vision Research Foundation, Madras for purposes of the deduction for scientific research subject to conditions: maintain a separate account for research receipts; furnish annual returns of research activities to the prescribed authority by 31st May; submit audited annual accounts, income and expenditure statements and balance-sheet to the prescribed authority by 30th June with copies to central tax administration and the concerned Commissioner; and apply for extension before approval expiry.