Scientific research association approval grants tax recognition subject to mandatory accounting, annual reporting and audited accounts submission. The Medical Education and Research Foundation of the Association of Surgeons of India, Madras is approved as a scientific research association for tax recognition, conditional on maintaining a separate account for research funds, submitting annual scientific activity returns by 31st May in the prescribed form, and providing an annual audited statement of accounts to the prescribed authority with a copy to the Income-tax Commissioner; the approval is effective for a specified three-year period commencing in late December of the initiating year.