Ministry of Finance, through Notification No. 131/2024 dated December 30, 2024, has approved the Sri Paripoorna Sanathana Charitable Trust, Bengaluru (PAN: AALTS2655L), for its college unit, Sri Paripoorna Sanathana Ayurveda Medical College, Hospital, and Research Centre, under the category of “University, college or other institution” for “Scientific Research” as per clause (ii) of subsection (1) of section 35 of the Income-tax Act, 1961. This approval, which applies retrospectively from the publication date in the Official Gazette, covers the previous year 2024-25 and is valid for assessment years 2025-26 to 2029-30. The notification ensures that no individual is adversely affected by its retrospective application.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 131/2024- Income Tax| Dated: 30th December, 2024
S.O. 5629(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 5E of the Income-tax Rules, 1962, the Central Government hereby approves ‘Sri Paripoorna Sanathana Charitable Trust’, Bengaluru (PAN: AALTS2655L) for its college unit, ‘Sri Paripoorna Sanathana Ayurveda Medical College, Hospital and Research Centre’ 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.
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 2025-26 to 2029-30
[Notification No. 131/2024/F.No. 203/13/2024/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.
