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The Central Board of Direct Taxes (CBDT) has granted approval to ‘Sri Paripoorna Sanathana Charitable Trust’, Bengaluru (PAN: AALTS2655L), for its college unit, ‘Sri Paripoorna Sanathana Ayurveda Medical College, Hospital and Research Centre’, under the category of ‘University, college or other institution’ for the purpose of ‘Scientific Research’. This approval is provided under clause (ii) of sub-section (1) of Section 35 of the Income-tax Act, 1961, in conjunction with Rules 5C and 5E of the Income-tax Rules, 1962.

The notification specifies that this approval shall be effective from the date of publication in the Official Gazette, i.e., from the Previous Year 2024-25, and will remain applicable for Assessment Years 2025-26 to 2029-30.

Institutions approved under Section 35(1)(ii) are recognized for their contributions to scientific research. Donations made to these institutions are eligible for weighted deductions under the Income-tax Act, 1961. This allows taxpayers to claim an additional tax deduction for their contributions, incentivizing funding and promoting scientific and technological advancements. These measures aim to support institutions engaged in research activities, fostering innovation and development in their respective fields.