CBDT notifies Bennett University under the category of ‘University, College or other institution’ for various Researches to allow Deductions [Read Notifications]

The Central Board of Direct Taxes (CBDT) notified Bennett University under the category of ‘University, College or other institution’ for various researches to allow deductions.

“Central Government hereby approves M/s Bennett University, Greater Noida, Uttar Pradesh (PAN: AAAJB1388A) 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,” the notification said.

Section 35(1)(i) allows deduction for any expenditure (not be of capital nature) laid out or expended on scientific research related to the business in nature of the salary of a person engaged in such research or acquisition of material required for such research.

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