Ministry of Finance Department of Revenue Central Board of Direct Taxes

Notification u/s 35(1)(ii) of the Income Tax Act, 1961 in the case of KIMS Foundation and Research Centre, Hyderabad

Issue Date: 17 April 2025 Published: 17 April 2025

Gazette ID: CG-DL-E-17042025-262500 Download PDF

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Core Purpose

Approves KIMS Foundation and Research Centre, Hyderabad for scientific research under Income-tax Act, 1961 and Rules.

Detailed Summary

This notification, issued by the Central Board of Direct Taxes under the Ministry of Finance, approves 'KIMS Foundation and Research Centre' Hyderabad (PAN: AABTK7589F) as an 'Other Institution' for 'Scientific Research'. This approval is granted under the powers conferred by 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. The institution falls under the category of 'University, College or Other Institution'. The notification comes into effect from the date of its publication in the Official Gazette, corresponding to the Previous Year 2025-26. Consequently, it will be applicable for the Assessment Years 2026-27, 2027-28, 2028-29, 2029-30, and 2030-31. An accompanying Explanatory Memorandum confirms that granting retrospective effect to this notification does not adversely affect any person.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-17042025-262500 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 1737] NEW DELHI, THURSDAY, APRIL 17, 2025/CHAITRA 27, 1947 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 17th April, 2025 S.O. 1770(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 'KIMS Foundation and Research Centre' Hyderabad (PAN: AABTK7589F) as 'Other Institution' 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 2025-26) and accordingly shall be applicable for Assessment Years 2026-27 to 2030-31. [Notification No. 33/2025/F. No. 203/33/2024/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.

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