Approval under section 35(1)(iii) establishes research exemption with mandatory annual reporting, audited accounts and renewal procedure. Approval is granted to Sri Aurobindo Society, Unit: Sri Aurobindo Institute of Research in Social Sciences, Pondicherry as an institution for purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, subject to maintaining a separate account for research receipts, filing an annual return of scientific research activities to the Secretary, Department of Scientific and Industrial Research by 31 May, and submitting audited annual accounts to the Director-General of Income-tax (Exemptions), the Secretary, DSIR and the relevant Commissioner/Director by 30 June.