Centre approves research institute tax benefit for Bhaikaka University

New Delhi: The Central Government has approved ‘Bhaikaka University’ Anand, Gujarat for ‘Scientific Research’ under the category of ‘University, college or other institution’ 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.

A Notification in this regard is applied from 10 February 2025 and shall be applicable for Assessment Years 2025-26 to 2029-30.

This has been declared in exercise of the powers conferred by clause (ii) of sub-section (1) of section 35 of the Incometax Act, 1961 (43 of 1961) with Rules 5C and 5E of the Income-tax Rules, 1962. DeshGujarat