This gazette notification approves 'Sri Paripoorna Sanathana Charitable Trust', Bengaluru, specifically its college unit 'Sri Paripoorna Sanathana Ayurveda Medical College, Hospital and Research Centre', as an institution eligible for claiming tax benefits under section 35(1)(ii) of the Income-tax Act, 1961 for scientific research.
The approval categorizes the institution as a 'University, college or other institution' for the purpose of scientific research.
Key Changes
The notification grants approval to 'Sri Paripoorna Sanathana Charitable Trust' for its medical college unit for the purpose of claiming tax benefits related to scientific research.
The approval is effective retrospectively from the Previous Year 2024-25.
The approval is applicable for Assessment Years 2025-26 to 2029-30.
The notification is issued by the Central Board of Direct Taxes, Ministry of Finance.
Impact Analysis
Sri Paripoorna Sanathana Charitable Trust
Action Item: The trust should update its financial records and processes to reflect the new approval and related tax benefits.
Donors
Action Item: Donors should keep proper documentation of their donations to claim tax deductions.
Government
Action Item: The Central Board of Direct Taxes should monitor the activities of the institution to ensure compliance with the rules and regulations.
Key Entities Referenced
Sri Paripoorna Sanathana Charitable Trust: A charitable trust based in Bengaluru (PAN: AALTS2655L) that runs the 'Sri Paripoorna Sanathana Ayurveda Medical College, Hospital and Research Centre'.
Sri Paripoorna Sanathana Ayurveda Medical College, Hospital and Research Centre: The college unit of the trust which is approved for scientific research purposes under the Income-tax Act.
Income-tax Act, 1961: The primary legislation governing income tax in India. Section 35(1)(ii) provides for tax benefits for scientific research.
Income-tax Rules, 1962: The rules framed under the Income-tax Act, 1961. Rules 5C and 5E are relevant for the approval process.
Central Board of Direct Taxes (CBDT): The statutory authority responsible for administering direct taxes in India. The notification is issued by the CBDT.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-30122024-259726
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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.ं 5209] नई दिल्ली, सोमिार, दिसम् बर 30, 2024/पौर् 9, 1946
No. 5209] NEW DELHI, MONDAY, DECEMBER 30, 2024/PAUSHA 9, 1946
जित्त मत्रं ालय
(रािस्ट्ि जिभाग)
(केंद्रीय प्रत्यक्ष कर बोडड)
अजधसचू ना
नई दिल्ली, 30 दिसम्बर, 2024
का. आ. 5629(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 खडं (ii) द्वारा प्रित्त िजियों का प्रयोग करते हुए केन्द्द्र सरकार
‘श्री पठरपणू ड सनातन चठै रटेबल रस्ट्ट, बगें लरुु (पनै : AALTS2655L) की महाजिद्यालय इकाई, ‘श्री पठरपणू ड सनातन
आयिु िे मजे डकल महजिद्यालय, अस्ट्पताल और अनसु धं ान केंद्र’ 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 प्रयोिनाथ ड ‘जिश्वजिद्यालय,
महाजिद्यालय या अन्द्य सस्ट्ं था’ की श्रेणी के अंतगडत ‘िज्ञै ाजनक अनसु धं ान’ हते ु अनुमोदित करती ह।ै
2. यह अजधसूचना सरकारी रािपत्र म ें इसके प्रकािन की तारीख (अथाडत पूि ड िर् ड 2024-25) स े लाग ू होगी तथा तिनुसार
जनधाडरण िर्ों 2025-26 से 2029-30 के जलए लाग ूहोगी ।
[अजधसूचना सं. 131/2024/फ.सं. 203/13/2024/ITA-II]
कास्त्रो ियप्रकाि टी, अिर सजचि
स्ट्पष्टीकरण ज्ञापन: यह प्रमाजणत दकया िाता ह ै दक इस अजधसूचना को भूतलक्षी प्रभाि िेन े से दकसी भी व्यजि पर प्रजतकूल
प्रभाि नहीं पड़ रहा ह ै।
8458 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 December, 2024
S.O. 5629(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 ‘Sri Paripoorna Sanathana Charitable Trust’, Bengaluru (PAN: AALTS2655L) for its college
unit, 'Sri Paripoorna Sanathana Ayurveda Medical College, Hospital and Research Centre’ 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 2025-26 to 2029-30
[Notification No. 131/2024/F.No. 203/13/2024/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.