Ministry of Finance has issued Notification No. 07/2025, dated January 14, 2025, approving the Central Power Research Institute (CPRI), Bengaluru, as a ‘Research Association’ for ‘Scientific Research’ under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961. This approval, granted in conjunction with Rules 5C and 5D of the Income-tax Rules, 1962, enables CPRI to claim tax benefits for research activities. The notification applies retrospectively from the Previous Year 2024-25 and is valid for Assessment Years 2025-26 to 2029-30. The accompanying explanatory memorandum clarifies that no individual is adversely affected by this retrospective application.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 07/2025-Income Tax| Dated: 14th January, 2025
S.O. 244(E).—In exercise of the powers conferred by clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961) read with Rules 5C and 5D of the Income-tax Rules, 1962, the Central Government hereby approves Central Power Research Institute (CPRI) (PAN: AAAAC0268P), Bengaluru under the category of ‘Research Association’ 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 5D 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 2024-25) and accordingly shall be applicable for Assessment Years 2025-2026 to 2029-2030.
[Notification No. 07/2025/F. No. 203/20/2024/ITA-II]
CASTRO JAYAPRAKASH T., Under Secy.
Explanatory Memorandum: It is certified that no person is being adversely affected by granting retrospective effect to this notification.
