Patanjali Research Foundation Trust, Haridwar, has been notified as the ‘approved research association’. The Income Tax Department has extended tax deductions on donations made to Patanjali Research Foundation Trust for five years.
According to a Central Board of Direct Taxes (CBDT) notification, businesses making donations to Patanjali Research Foundation Trust during 2021-22 to 2026-27 can claim tax deduction on such contributions.
Accordingly, a business entity that pays any amount to the Foundation for scientific research shall be eligible to claim the said expense as deduction from business income under section 35 of the Income Tax Act, thereby reducing their tax outgo.
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