CBDT Notifies Income Tax Exemption to IISER Tirupati

The CBDT has notified Income Tax Exemption to Indian Institute of Science Education and Research, Tirupati under section 35(1)(ii) via issuing Notification.

Income Tax Exemption to IISER Tirupati

Reetu | Jan 17, 2023 | Views

CBDT Notifies Income Tax Exemption to IISER Tirupati

CBDT Notifies Income Tax Exemption to IISER Tirupati

The Central Board of Direct Taxes(CBDT) has notified Income Tax Exemption to Indian Institute of Science Education and Research, Tirupati under section 35(1)(ii) via issuing Notification.

Scientific research associations or organisations with the goal of conducting scientific research or social science research can be approved under sections 35(1)(ii) and 35(1)(iii) of the Income Tax Act, 1961, in accordance with the guidelines and other conditions as may be notified in the central government’s official gazette.

The Release Notification as may prescribed, “In exercise of the powers conferred by clause (ii) of sub-Section (1) of Section 35 of the Income-tax Act, 1961 (43 of 1961) read with Rules 5C and 5E of the Income-tax Rules, 1962, the Central Government hereby approves ‘Indian Institute of Science Education and Research, Tirupati (PAN: AAAAI9820P)’ under the category of ‘University, College or Other Institution’ for ‘Scientific Research’ for the purposes of clause (ii) of sub- Section (1) of Section 35 of the Income-tax Act, 1961 read with Rules 5C and 5E of the Income-tax Rules, 1962.”

This Notification shall apply with effect from the date of publication in the Official Gazette (i.e., from the Previous Year 2022-23) and accordingly shall be applicable for Assessment Years 2023-2024 to 2027-2028.

For Official Notification Download PDF Given Below:

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