The Central Board of Direct Taxes (CBDT) has granted approval to Bhaikaka University, Anand, Gujarat, for tax exemption under Section 35(1)(ii) of the Income-tax Act, 1961. This designation, as per Notification No. 15/2025, allows the university to receive donations that qualify for tax deductions when used for scientific research.
Issued by the Ministry of Finance's Department of Revenue, the notification specifies that this approval will be effective from the previous year 2024-25 and will remain valid for assessment years 2025-26 to 2029-30.
The move is aimed at promoting scientific research and innovation in educational institutions. Notably, the government has clarified that granting retrospective effect to this notification does not adversely impact any taxpayer.
This decision is expected to encourage research collaborations and financial support for academic institutions engaged in scientific advancements.
Official copy of the notification has been attached
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