Research institution approval conditions require separate research accounts and annual audited reporting to tax authorities. Vivekananda Nidhi, Calcutta is approved as an Institution under clause (iii) of sub section (1) of section 35 of the Income tax Act, subject to conditions: maintain a separate research account; file annual returns of research activities by 30 April; submit audited annual accounts and balance sheet to the prescribed authority and a copy to the Commissioner by 30 June; and apply to the Central Board of Direct Taxes for extension three months before approval expiry, with late applications liable to rejection.