Institution approval under section 35(1)(iii) imposes research accounting and annual audited reporting obligations for notified bodies. Specified organisations are approved as Institutions under clause (iii) of sub section (1) of section 35 read with Rule 6, subject to conditions: maintain separate research books of account; file annual scientific research returns with the Department of Scientific & Industrial Research by 31 May; and submit audited annual accounts and audited income & expenditure accounts for research activities by 31 October to the Director General of Income tax (Exemptions), the Secretary, Department of Scientific & Industrial Research, and the local Commissioner/Director of Income tax, in addition to the income tax return.