CBDT Approves Patanjali Yog Peeth Nyas As University For Social Science Research Centre To Grant Income Tax Benefits

The Central Board of Direct Taxes (CBDT) has approved Patanjali Yog Peeth Nyas as a university for social science research center to grant income tax benefits.

The Central Government has approved ‘M/s Patanjali Yog Peeth Nyas, Delhi for its university unit ‘The University of Patanjali’, Haridwar’ under the category of ‘University, College or Other Institution’ for research in ‘Social Science or Statistical Research’ for the purposes of section 35 (1) (iii) of the Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules, 1962.

According to the notification, the "University of Patanjali" is authorized to carry out research in the "Social Science or Statistical Research" sector. This implies that under clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, the university unit is qualified to receive tax benefits and exemptions.

The notification shall apply with effect from the Previous Year 2023-24 and accordingly shall be applicable for Assessment Years 2024-2025 to 2028-2029.

Notification No.44/2023

Date: 23/06/2023

Click Here To Read The Notification