CBDT Notifies IIT Bhilai for the Purpose of Section 35 of the Income Tax Act Read With Rule 5C and 5E of the Income Tax Rules

The Central Board of Direct Taxes (CBDT) notified the M/s Indian Institute of Technology (IIT), Bhilai for Scientific Research and Research in Social Science and Statistical Research for the purposes of clauses (ii) and (iii) 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.

Section 35 of the Income Tax deals with the expenditure on scientific research.

PAN of the institute: AABAI0415K

This Notification shall be deemed to have been applied for the assessment year 2021-2022 and shall apply with respect to the assessment years 2022-2023, 2023-2024, 2024-2025 and 2025-2026.

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