Quick Summary
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
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1999
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FAQ :
Bhaikaka University has been granted tax exemption by the CBDT under Section 35(1)(ii) of the Income-tax Act, 1961, for scientific research.
The exemption allows Bhaikaka University to receive donations that qualify for tax deductions for donors, specifically when these funds are used for scientific research.
The approval is effective from the previous financial year, 2024-25.
The exemption is valid for the assessment years 2025-26 through 2029-30.
The decision aims to promote scientific research and innovation within educational institutions like Bhaikaka University.
No, the government has clarified that the retrospective effect of this notification does not adversely impact any taxpayer.
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