U/s 35(1) (ii) / (iii) of IT Act 1961 Central Government approved M/s Indian Institute of Technology, Bhilai - 70/2021 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 70/2021 New Delhi, the 8th June, 2021 S.O. 2175 (E). - In exercise of the powers conferred by clauses (ii) and (iii) 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 M/s Indian Institute of Technology, Bhilai (PAN: AABAI0415K) under the category of University, College or other institution 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 (43 of 1961) read with rules 5C and 5E of the Income-tax Rules, 1962 . 2. 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. [F.No.203/06/2020/ITA-II] PRAJNA PARAMITA, Director Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification.