Summary
- The Central Board of Direct Taxes (CBDT) has approved the Regional Centre for Biotechnology, Faridabad for tax benefits under the Income-tax Act, 2025.
- This approval, effective from tax years 2026-27 to 2030-31, is granted under Section 45(3)(a)(i) and Section 45(4)(b) of the Act.
- The institution must comply with specific conditions, including submitting annual statements and issuing donation certificates.
- This move enables eligible donations for scientific research to qualify for tax benefits, potentially boosting funding in the biotechnology sector.
Join the discussion ā sign up to comment, upvote, and save articles.