CBDT approves Krea University, Sricity for Research under Section 35(1)(iii)

CBDT approves Krea University, Sricity for for research in ‘Social science or Statistical research’ for the purposes of clause (iii) 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 vide Notification No. 118/2022-Income Tax | Dated : 28.10.2022.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 28th October, 2022

Notification No. 118/2022-Income Tax | Dated : 28.10.2022

S.O. 5070(E).—In exercise of the powers conferred by clause (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 ‘Krea University, Sricity, Chittoor, A.P. (PAN: AAFAK4100P)’ under the category of ‘University, College or other institution’ for research in ‘Social science or Statistical research’ for the purposes of clause (iii) 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.

2. This Notification shall apply with effect from the date of publication in the Official Gazette (i.e. from the Previous Year 2022-23) and accordingly shall be applicable for Assessment Years 2023-2024 to 2027-2028.

[Notification No.118/2022/F. No. 203/13/2021-ITA-II]
RAVINDER MAINI, Director

Explanatory Memorandum: It is certified that no person is being adversely affected by granting retrospective effect to this notification.