IIT Bhilai approved u/s 35 for Scientific Research from AY 2022-23 to 2025-26

IIT Bhilai approved u/s 35 for Scientific Research from AY 2022-23 to 2025-26

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

Notification No. 70/2021

New Delhi, the 8th June, 2021

S.O. 2175(E).—In exercise of the powers conferred by clauses (ii) and (iii) 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 M/s Indian Institute of Technology, Bhilai (PAN: AABAI0415K) under the category of ‘University, College or other institution’ for Scientific Research and Research in Social Science and Statistical Research for the purposes of clauses (ii) and (iii) 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.

2. This Notification shall be deemed to have been applied for the assessment year 2021-2022 and shall apply with respect to the assessment years 2022-2023, 2023-2024, 2024-2025 and 2025-2026.

[ F.No.203/06/2020/ITA-II]

PRAJNA PARAMITA, Director

Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification.

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