CBDT Notifies Income Tax Exemption to National Institute of Design
Live LawThe Central Board of Direct Taxes and Customs notified the National Institute of Design, Ahmedabad, of the income tax exemption.The government approved the National Institute of Design, Ahmedabad, under the category of university, college, or other institution for scientific research for the purposes of Section 35 of the Income-tax Act, 1961, read with Rules 5C and 5E of. The Central Board of Direct Taxes and Customs notified the National Institute of Design, Ahmedabad, of the income tax exemption. The government approved the National Institute of Design, Ahmedabad, under the category of university, college, or other institution for scientific research for the purposes of Section 35 of the Income-tax Act, 1961, read with Rules 5C and 5E of the Income-tax Rules, 1962. Section 35 of the Income-tax Act, 1961, deals with the deductions in respect of expenditure on scientific research.