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

/ TC / By / June 10, 2021

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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