This gazette notification from the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, India, announces the approval of the Advanced Manufacturing Technology Development Centre (AMTDC) in Chennai (PAN: AAEAA9272B) under the Income Tax Act, 1961.
Key Changes
AMTDC, Chennai is approved as an 'Other Institution' under the category of 'University, College or Other Institution' for 'Scientific Research' under Section 35(1)(ii) of the Income Tax Act, 1961, read with Rules 5C and 5E of the Income-tax Rules, 1962.
This approval allows AMTDC to avail tax benefits related to scientific research as per the Income Tax Act.
The notification is effective from the date of publication in the Official Gazette (August 30, 2024), applicable for the previous year 2024-25 and assessment years 2025-26 to 2029-30.
The explanatory memorandum clarifies that no person is adversely affected by the retrospective application of this notification.
Impact Analysis
Impact on AMTDC
This could incentivize further investment in scientific research and development activities by AMTDC.
Impact on the Indian Government
The government may see an increase in research and development activities in the advanced manufacturing technology sector.
Impact on other Research Institutions
This notification may encourage other research institutions to apply for similar approvals under the Income Tax Act to avail of tax benefits.
Suggested Action Items
Other research institutions should assess their eligibility for similar tax benefits under the Income Tax Act.
Key Entities Referenced
Ministry of Finance (Department of Revenue): The issuing authority of the gazette notification.
Central Board of Direct Taxes (CBDT): The body responsible for administering direct taxes in India.
Advanced Manufacturing Technology Development Centre (AMTDC), Chennai: The institution approved under the Income Tax Act, 1961.
Income Tax Act, 1961 (43 of 1961): The primary legislation governing income tax in India.
Income-tax Rules, 1962: Rules framed under the Income Tax Act, 1961.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-30082024-256784
CG-DxLx-xEG-I3D0H0x8x2x0 24-256784
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (ii)
PART II—Section 3—Sub-section (ii)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 3380] नई दिल्ली, िुक्रिार, अगस्ट्त 30, 2024/भाद्र 8, 1946
No. 3380] NEW DELHI, FRIDAY, AUGUST 30, 2024/BHADRA 8, 1946
जित्त मत्रं ालय
(रािस्ट्ि जिभाग)
(केंद्रीय प्रत्यक्ष कर बोडड)
अजधसचू ना
नई दिल्ली, 30 अगस्ट्त, 2024
का.आ. 3710(अ).—आयकर जनयमािाली, 1962 के जनयम 5ग और 5ङ के साथ पठित आयकर अजधजनयम, 1961 (1961
का 43) की धारा 35 की उप-धारा (1) के खंड (ii) द्वारा प्रित्त िजियों का प्रयोग करते हुए केन्द्द्र सरकार उन्नत जिजनमाणड प्रौद्योजगकी
जिकास केंद्र, चन्ने ई (पनै : AAEAA9272B) को आयकर जनयमािली, 1962 के जनयम 5ग और 5ङ के साथ पठित आयकर अजधजनयम,
1961 की धारा 35 की उप-धारा (1) के खंड (ii) के प्रयोिनाथड ‘जिश्वजिद्यालय, कालिे अथिा अन्द्य सस्ट्ं थान’ की श्रेणी के अंतगडत
‘िैज्ञाजनक अनसु धं ान’ हते ु ‘अन्द्य सस्ट्ं थान’ के तौर पर अनुमोदित करती ह ै।
2. यह अजधसूचना सरकारी रािपत्र में इसके प्रकािन की तारीख से लागू होगी (अथाडत पूिड िर्ड 2024-25 से) तथा तिनुसार
जनधाडरण िर्ों 2025-26 से 2029-30 के जलए लागू होगी ।
[अजधसूचना सं.101/2024/ फा. सं. 203/19/2024/ITA-II]
कास्त्रो ियप्रकाि टी.,अिर सजचि
स्ट्पष्टीकरण ज्ञापन : यह प्रमाजणत दकया िाता ह ैदक इस अजधसूचना को भूतलक्षी प्रभाि िेने से दकसी भी व्यजि पर प्रजतकूल प्रभाि नहीं
पड़ रहा ह ै।
5554 GI/2024 (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 30th August, 2024
S.O. 3710(E).—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 ‘Advanced Manufacturing Technology Development Centre (PAN: AAEAA9272B), Chennai’
as ‘Other Institution’ 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.
2. This Notification shall apply with effect from the date of publication in the Official Gazette (i.e. from the
Previous Year 2024-25) and accordingly shall be applicable for Assessment Years 2025-2026 to 2029-2030.
[Notification No. 101/2024/F. No. 203/19/2024/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.