The notification approves Sardar Vallabhbhai National Institute of Technology (SVNIT), Surat, as an institution under the category of 'University, college or other institution' for 'Scientific Research' under Section 35(1)(ii) of the Income-tax Act, 1961.
Key Changes
SVNIT Surat (PAN: AAAJS1184P) is now approved for 'Scientific Research' under Section 35(1)(ii) of the Income-tax Act, 1961.
The approval is effective from the date of publication in the Official Gazette, applying retrospectively from the previous year 2023-24.
The approval is applicable for Assessment Years 2024-25 to 2028-29.
Impact Analysis
Sardar Vallabhbhai National Institute of Technology (SVNIT), Surat
SVNIT Surat should maintain proper documentation of research activities and related expenses to comply with Income-tax regulations.
Donors and Contributors
This incentive may increase philanthropic contributions towards scientific research at SVNIT Surat.
Income Tax Department
The department should be aware that this notification is applicable retrospectively from the previous year 2023-24.
Key Entities Referenced
Central Board of Direct Taxes (CBDT): The entity under the Department of Revenue, Ministry of Finance, responsible for issuing the notification.
Sardar Vallabhbhai National Institute of Technology (SVNIT), Surat: The institution approved 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) pertains to deductions for contributions to scientific research institutions.
Income-tax Rules, 1962: The rules framed under the Income-tax Act, 1961, providing detailed procedures and guidelines for implementing the provisions of the Act. Rules 5C and 5E are relevant to the approval process for scientific research institutions.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
सी.जी.-डी.एल.-अ.-13032024-252960
CG-DxLx-xEG-I1D3H0x3x2x0 24-252960
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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.ं 1262] नई दिल्ली, बुधिार, माच ड13, 2024/फाल्ग नु 23, 1945
No. 1262] 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.ं 30/2024)
का.आ. 1325(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 ‘सरिार िल्लभभाई राष्ट्रीय
प्रौद्योजगकी सस्ट्ं थान’, सरू त (पनै :AAAJS1184P) 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 ह।ै
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 से 2028-29 के जलए लागू होगी।
[फा. सं. 203/20/2023/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।
1889 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. 30/2024)
S.O. 1325(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 ‘Sardar Vallabhbhai National Institute of Technology’, Surat (PAN: AAAJS1184P) 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. 203/20/2023/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.