Notification no. 40/2026 dated 30.03.2026- Income tax

Central Board of Direct Taxes (CBDT) issued notification no. 40/2026 dated 30.03.2026 to provide deduction u/s 35(1)(ii) of the Income-tax Act, 1961 (43 of 1961) (the Act) read with Rules 5C and 5E of the Income-tax Rules, 1962 (the Rules), the Central Government hereby approves ‘Indian Institute of Technology’ (IIT), Bhilai (PAN:AABAI0415K), 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.