Approved research institution recognition: conditional tax approval tied to separate accounts and annual returns to authorities. Notification approves The Institute of Indian Foundrymen, Calcutta as an approved institution under clause (ii) of section 35(1) of the Income-tax Act for natural and applied sciences (excluding specified fields), subject to maintaining separate accounts for research receipts, furnishing an annual return of research activities to the prescribed authority by 30 April each year, and submitting the annual return and statement of accounts to the Commissioner of Income-tax; approval is time-limited to a two-year period.