In exercise of the powers conferred by clauses ii and iii of subsection 1 of section 35 of the Income tax Act,

**Report on Central Board of Direct Taxes Notification: S.O. 1069(E)** **1. Executive Summary:** This report analyzes Notification S.O. 1069(E) issued by the Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, on March 9, 2021. This notification approves Ms. Bennett University, Greater Noida, Uttar Pradesh, as an eligible institution for Scientific Research and Research in Social Science and Statistical Research under Section 35 of the Income-tax Act, 1961. This approval allows donors to Bennett University to claim deductions under specific clauses of Section 35. The notification is deemed to have been applied for the assessment year 2020-2021 and shall apply with respect to the assessment years 2021-2022, 2022-2023, 2023-2024, and 2024-2025. **2. Introduction:** This report aims to provide an informative overview of Notification S.O. 1069(E) based solely on the text provided. It details the policy's objectives, key provisions, affected stakeholders, and anticipated outcomes, as inferred from the official notification. **3. Policy Overview:** * This is a new policy-specific notification. * **Core Objective(s):** To approve Ms. Bennett University as an institution eligible for receiving deductible donations under clauses (ii) and (iii) of subsection (1) of section 35 of the Income-tax Act, 1961, for the purpose of Scientific Research and Research in Social Science and Statistical Research. **4. Background and Rationale:** This notification addresses the need to identify and approve institutions that qualify for specific exemptions under the Income-tax Act, 1961. By granting approval to Bennett University, the CBDT facilitates scientific and social science research by incentivizing donations to the institution through tax deductions for donors. The university likely applied for this recognition, demonstrating that it meets the criteria outlined in the Income-tax Act, 1961, and Income-tax Rules, 1962. **5. Key Provisions:** The notification establishes the following: * Approval is granted to Ms. Bennett University, Greater Noida, Uttar Pradesh (PAN: AAAJB1388A). * The university is recognized as an institution for Scientific Research and Research in Social Science and Statistical Research. * This recognition allows donors to claim deductions under clauses (ii) and (iii) of subsection (1) of section 35 of the Income-tax Act, 1961, read with rules 5C and 5E of the Income-tax Rules, 1962, for donations made to Bennett University. * The notification is applicable retrospectively for the assessment year 2020-2021 and prospectively for the assessment years 2021-2022, 2022-2023, 2023-2024, and 2024-2025. **6. Target Audience and Stakeholders:** The direct stakeholders affected by this notification are: * **Ms. Bennett University:** Benefits from increased potential for donations due to the tax-deductible status. * **Donors to Bennett University:** Individuals and organizations making donations to the university can now claim deductions under Section 35 of the Income-tax Act, 1961. * **Central Board of Direct Taxes (CBDT):** Responsible for implementing and overseeing the provision. * **Department of Revenue:** The parent agency of CBDT, overseeing tax-related matters. **7. Implementation Aspects (Inferred):** * **Responsible agency:** The Central Board of Direct Taxes (CBDT) is responsible for the implementation of this notification. * **Timelines:** The notification is effective from the assessment year 2020-2021 and remains valid until the assessment year 2024-2025. * **Procedures:** Donors will need to follow the prescribed procedures under Section 35 of the Income-tax Act, 1961, and rules 5C and 5E of the Income-tax Rules, 1962, to claim deductions for their donations. Bennett University is likely required to provide documentation to donors to facilitate these claims. **8. Expected Outcomes / Impact of Changes:** The expected outcomes of this notification are: * **Increased funding for Scientific Research and Research in Social Science and Statistical Research at Bennett University:** The tax-deductible status of donations should incentivize greater philanthropic contributions. * **Enhanced research capabilities at Bennett University:** Increased funding can lead to improved infrastructure, resources, and research programs. * **Promotion of scientific and social science research:** By incentivizing donations, the notification contributes to the overall advancement of research in these fields. **9. Conclusion:** Notification S.O. 1069(E) is significant as it officially recognizes Bennett University as an eligible institution for tax-deductible donations towards scientific and social science research. This is likely to benefit the university through increased funding, ultimately contributing to advancements in these crucial research areas. The notification provides clarity for both the university and its potential donors regarding the eligibility for tax benefits, thus encouraging philanthropic support.

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