Research institution approval under Income tax Act section 35: conditional tax exemption granted; maintain accounts and file annual reports. M/s Bye Research Centre, Chennai is approved as an Institution under clause (ii) of sub section (1) of section 35 of the Income tax Act for the period 1 April 2002 to 31 March 2005, subject to maintaining separate research accounts, filing an annual scientific research return to the Secretary, Department of Scientific & Industrial Research by 31 May, and submitting audited annual accounts and audited income & expenditure accounts for research activities to designated tax and research authorities by 31 October each year, alongside the return of income; renewal applications must be filed in triplicate.