Quick Summary
The Central Board of Direct Taxes (CBDT), through Notification No. 121/2024 dated November 25, 2024, has officially designated the SKAN Research Trust as a 'Research Association' for the purpose of conducting scientific research under Section 35(1)(ii) of the Income-tax Act, 1961. This recognition allows contributions made to the SKAN Research Trust to qualify for weighted tax deductions, encouraging organizations and individuals to support its scientific research initiatives. Section 35 of t
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FAQ :
The CBDT has recognised the SKAN Research Trust as a 'Research Association'.
The recognition is for the purpose of conducting scientific research under Section 35(1)(ii) of the Income-tax Act, 1961.
Contributions made to the SKAN Research Trust will now qualify for weighted tax deductions.
The notification takes effect from the date of its publication in the Official Gazette, applying from the Previous Year 2024-25.
This is applicable for Assessment Years 2025-26 to 2029-30.
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