Research institution approval requires annual returns, audited accounts, and renewal application to maintain tax benefit. Approval under Section 35(1)(iii) of the Income-tax Act was granted to the Association for the Welfare of Persons with a Mental Handicap in Maharashtra, Bombay, subject to conditions: maintain separate accounts for research receipts; file annual returns of research activities to the prescribed authority in prescribed forms by the annual deadline; submit audited annual accounts showing income, expenditure, assets and liabilities to the prescribed authority and specified tax offices; and apply for extension of approval before its expiry to avoid rejection.