- January 31, 2023
- Posted by: CA Sudha G. Bhushan
- Category: Finance & accounting
Name of the Circular/Update : 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 subSection (1) of Section 35 of the Income-tax Act, 1961.
Date Of Issue : January 16, 2023
Circular / Update number : Notification No. F. No. 203/02/2022/ITA-II
Summary : 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 subSection (1) of Section 35 of the Income-tax Act, 1961 read with Rules 5C and 5E of the Income-tax Rules, 1962.
Link for the Circular /Update : https://incometaxindia.gov.in/communications/notification/notification-so-270.pdf
Full Provision :
- 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. Notification No. F. No. 203/02/2022/ITA-II