Approved Institution status for scientific research associations requires separate research accounts and annual audited returns. Approval is granted to T.T. Ranganathan Clinical Research Foundation as an Approved Institution under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, categorising it as a scientific research association in medical research. The Foundation must maintain separate accounts for research receipts, furnish annual returns of scientific research activities to the prescribed council by 31st May each year, and furnish an annual audited statement of accounts to the council and a copy to the Income-tax Commissioner. The approval is effective for a defined limited period.