Research approval under section 35(2A) requires separate project accounts and annual audited returns for tax recognition. Approval is granted for a sponsored scientific research programme for the purposes of section 35(2A) of the Income-tax Act, 1961, implemented at The Poona Medical Foundation with a five and a half year duration and stated estimated cost. The approval is conditional on maintaining separate project accounts, furnishing annual returns of the project to the Council by 31 May in prescribed forms, and submitting the annual audited statement of account to the Council by 31 May while also sending a copy to the concerned Income-tax Commissioner.