In a significant move, the Central Government has granted approval to the Central Power Research Institute (CPRI), Bengaluru, under the category of "Research Association" for "Scientific Research" as per Section 35(1)(ii) of the Income Tax Act, 1961. This approval, announced through Notification No. 07/2025, provides tax benefits to contributions made to CPRI for scientific research activities.
Effective retrospectively from the financial year 2024-25, this approval will apply for assessment years 2025-26 to 2029-30. The initiative, published in the official Gazette on January 14, 2025, underscores the government's commitment to fostering innovation and research in the power sector.
The explanatory memorandum assures that no individual is adversely affected by the retrospective implementation of this notification. This move is expected to bolster research efforts, paving the way for advancements in energy efficiency and sustainable technologies.
Official copy of the notification has also been attached
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