Central Board of Direct Taxes (CBDT) issued notification no. 101/2024 dated 30.08.2024 vide which the Central Government hereby approves ‘Advanced Manufacturing Technology Development Centre (PAN: AAEAA9272B), Chennai’ as ‘Other Institution’ under the category of ‘University, College or Other Institution’ for ‘Scientific Research’ 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.
This Notification shall apply with effect from the date of publication in the Official Gazette (i.e. from the Previous Year 2024-25) and accordingly shall be applicable for Assessment Years 2025-2026 to 2029-2030.
Explanatory Memorandum: It is certified that no person is being adversely affected by granting retrospective effect to this notification.
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