Home India Ministry of Finance Notification No.44/2023 approval under clause iii of sub sec...
Date: 23-Jun-2023 Category: Extra Ordinary State: Union Government Country: India

Notification No.44/2023 approval under clause iii of sub section 1 of section 35 of Income Tax Act 1961

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • The notification approves M/s Patanjali Yog Peeth Nyas, Delhi, specifically its university unit 'University of Patanjali', Haridwar, as an eligible institution for research in 'Social Science or Statistical Research' under Section 35(1)(iii) of the Income-tax Act, 1961.
  • This approval allows donors to M/s Patanjali Yog Peeth Nyas for its University of Patanjali to claim deductions under the Income-tax Act for contributions made towards research in social sciences or statistical research.

Key Changes

  • M/s Patanjali Yog Peeth Nyas, Delhi (PAN: AABTP0560H) through its university unit 'University of Patanjali', Haridwar is now an approved institution for 'Social Science or Statistical Research' under the category of 'University, College or Other Institution'.
  • The approval is effective from the date of publication in the Official Gazette, which is the Previous Year 2023-24.
  • The approval is applicable for Assessment Years 2024-2025 to 2028-2029.

Impact Analysis

Patanjali Yog Peeth Nyas

  • Action Item: Ensure compliance with the conditions specified under Section 35 of the Income-tax Act, 1961 and related rules to maintain the approval status.

Donors

  • Action Item: Maintain proper documentation of donations made to M/s Patanjali Yog Peeth Nyas to avail tax deductions.

Government (Central Board of Direct Taxes)

  • Action Item: Monitor compliance of M/s Patanjali Yog Peeth Nyas with the relevant provisions of the Income-tax Act and Rules.

Key Entities Referenced

M/s Patanjali Yog Peeth Nyas, Delhi: An organization that has been granted approval for its university unit, 'University of Patanjali', Haridwar, to receive donations that are eligible for tax deductions under Section 35(1)(iii) of the Income-tax Act, 1961 for research in 'Social Science or Statistical Research'. University of Patanjali, Haridwar: The university unit of M/s Patanjali Yog Peeth Nyas, Delhi, specifically approved for research in 'Social Science or Statistical Research' to receive donations that are eligible for tax deductions. Income-tax Act, 1961: The principal legislation governing income tax in India. Section 35(1)(iii) provides for deductions for contributions made to certain research associations, universities, colleges, or other institutions. Income-tax Rules, 1962: Rules framed under the Income-tax Act, 1961. Rules 5C and 5E are relevant to the approval process and conditions for institutions conducting research. Central Board of Direct Taxes (CBDT): A part of the Department of Revenue in the Ministry of Finance, responsible for the administration of direct tax laws through the Income Tax Department.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-23062023-246770 xxxGIDHxxx CG-DL-E-23062023-246770 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 2642] नई दिल्ली, िुक्रिार, िनू 23, 2023/आर्ाढ़ 2, 1945 No. 2642] NEW DELHI, FRIDAY, JUNE 23, 2023/ASHADHA 2, 1945 जित्त मत्रं ालय (रािस्ट्ि जिभाग) (केन्द्रीय प्रत्यक्ष कर बोड)ड अजधसचू ना नई दिल्ली, 23 िून , 2023 का.आ. 2762(अ).—आयकर जनयमािली, 1962 के जनयम 5ग और 5ड. के साथ पठित आयकर अजधनजयम, 1961 (1961 का 43) की धारा 35 की उप-धारा (1) के खंड (ii) द्वारा प्रित्त िजियों का प्रयोग करते हुए, केन्द्र सरकार एतिद्वारा आयकर जनयमािली, 1962 के जनयम 5ग और 5ड. के साथ पठित आयकर अजधजनयम, 1961 की धारा 35 की उप-धारा (1) के खंड (ii) के प्रयोिनाथड ‘मसै स ड पतिं जल योग पीि न्द्यास, दिल्ली (पनै : AABTP0560H) को इसकी जिश्वजिद्यालय इकाई ‘मसै स ड पतंिजल जिश्वजिद्यालय’ के जलए ‘जिश्वजिद्यालय, महाजिद्यालय अथिा अन्द्य सस्ट्ं थान’ की श्रेणी के अंतगडत ‘सामाजिक जिज्ञान अथिा संजययकीय अनुसंधान’ के जलए अनुमोदित करती ह।ै 2. यह अजधसूचना सरकारी रािपत्र में प्रकाजित होने की जतजथ (अथाडत् पूि ड िर्ड 2023-24) से प्रभािी होगी और तिनुसार जनधाडरण िर् ड2024-2025 से 2028-2029 तक लाग ूरहेगी। [अजधसूचना संयया 44/2023/फा. सं. 203/08/2022/आई.टी.ए.-II] कास्त्रो ियप्रकाि. टी, अिर सजचि स्ट्पष्टीीकरण ज्ञापन : यह प्रमाजणत दकया िाता है दक इस अजधसूचना को भूतलक्षी प्रभाि िने े से दकसी भी व्यजि पर कोई प्रजतकूल प्रभाि नहीं पड़ रहा है। 3999 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 23rd June, 2023 S.O. 2762(E).—In exercise of the powers conferred by clause (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 Patanjali Yog Peeth Nyas, Delhi (PAN: AABTP0560H) for its university unit ‘University of Patanjali’, Haridwar’ under the category of ‘University, College or Other Institution’ for research in ‘Social Science or Statistical Research’ for the purposes of clause (iii) 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. 2. This Notification shall apply with effect from the date of publication in the Official Gazette (i.e. from the Previous Year 2023-24) and accordingly shall be applicable for Assessment Years 2024-2025 to 2028-2029. [Notification No. 44 /2023/F. No. 203/08/2022/ITA-II] CASTRO JAYAPRAKASH. T, Under Secy. Explanatory Memorandum: It is certified that no person is being adversely affected by granting retrospective effect to this notification. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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