The notification approves the Indian Institute of Technology (IIT), Kharagpur, as an institution eligible for claiming deduction under Section 35(1)(ii) of the Income-tax Act, 1961 for 'Scientific Research'. This allows donors to IIT Kharagpur to claim tax benefits on their donations towards scientific research.
Key Changes
IIT Kharagpur (PAN: AAAJI0323G) is approved under the category of ‘University, college or other institution’ for ‘Scientific Research’.
The approval is effective from the date of publication in the Official Gazette, which means it applies retrospectively from the previous year 2023-24.
The approval is valid for Assessment Years 2024-25 to 2028-29.
Impact Analysis
Stakeholders
Government: Aims to promote scientific research by incentivizing donations to research institutions.
Suggested Action Items
IIT Kharagpur: Maintain detailed records of donations received for scientific research to facilitate audits and compliance.
Key Entities Referenced
Indian Institute of Technology (IIT), Kharagpur: An educational institution approved for receiving tax-deductible donations for scientific research under Section 35(1)(ii) of the Income-tax Act, 1961.
Income-tax Act, 1961: The primary legislation governing income tax in India. Section 35(1)(ii) provides for deductions for contributions to scientific research institutions.
Income-tax Rules, 1962: Rules framed under the Income-tax Act, 1961, providing detailed procedures and guidelines for the implementation of the Act. Rules 5C and 5E are specifically mentioned in relation to Section 35.
Central Board of Direct Taxes (CBDT): A part of the Department of Revenue in the Ministry of Finance, responsible for the administration of direct taxes in India.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-13032024-252961
CG-DxLx-xEG-I1D3H0x3x2x0 24-252961
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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.ं 1261] नई दिल्ली, बुधिार, माच ड13, 2024/फाल्ग नु 23, 1945
No. 1261] NEW DELHI, WEDNESDAY, MARCH 13, 2024/PHALGUNA 23, 1945
जित्त मत्ालं य
(रािस्ट्ि जिभाग)
(केन्द्रीय प्रत्यक्ष कर बोडड)
अजधसचू ना
नई दिल्ली, 13 माच,ड 2024
(स.ं 29/2024)
का.आ. 1324(अ).— आयकर जनयमािली, 1962 के जनयम 5ग तथा 5ङ के साथ पठित आयकर अजधजनयम, 1961(1961
का 43) धारा 35 की उपधारा(1) के खंड(ii) में प्रित्त िजियों का प्रयोग करते हुए केंरीय सरकार ‘भारतीय प्रौद्योजगकी सस्ट्ं थान’,
खड़गपुर (पनै : AAAJI0323G) को आयकर जनयमािली, 1962 के जनयम 5ग तथा 5ङ के साथ पठित आयकर अजधजनयम 1961 की
धारा 35 की उपधारा (1) के खंड(ii) के प्रयोिनों के जलए ‘िैज्ञाजनक अनसु धं ान’ हेत ु ‘जिश्व जिद्यालय, महाजिद्यालय अथिा अन्द्य
सस्ट्ं थान’ की श्रेणी के अंतगडत अनुमोदित करती है।
2. यह अजधसूचना सरकारी रािपत् में इसके प्रकािन की तारीख से लाग ू होगी (अथाडत जपछले िर्ड 2023-24 से) तथा तिनुसार
जनधाडरण िर्ों 2024-25 स े2028-29 के जलए लागू होगी।
[फा. सं. 203/17/2023/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 है।
1888 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 13th March, 2024
(No. 29/2024)
S.O. 1324(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 ‘Indian Institute of Technology, Kharagpur’ (PAN: AAAJI0323G) 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 2023-24) and accordingly shall be applicable for Assessment Years 2024-25 to 2028-29.
[F. No. 203/17/2023/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.