The Ministry of Finance issued Notification No. 15/2025, on February 10, 2025, informing the approval of Bhaikaka University, Anand, Gujarat (PAN: AAGAB9280N) u/s 35(1)(ii) of the Income Tax Act, 1961. This recognition permits the university to authorize income tax benefits associated with scientific research.
As per the notification, the donations being made to Bhaikaka University for scientific research will be qualified for the weighted tax deductions under the provisions of the Income Tax Act. The same notification is anticipated to motivate the surged research funding and improve the contributions of the university to scientific innovation.
From the Prior Year 2024-25 the approval will be applicable and will be valid for the Assessment Years 2025-26 to 2029-30. The same notification mentioned that no person or entity gets affected by its retrospective effect.
An Overview of Bhaikaka University
Bhaikaka University, located in Anand, Gujarat, is a premier institution devoted to higher education, healthcare, and scientific research. Named after Shri Bhaikaka, a visionary leader and social reformer, the university is known for its focus on medical sciences, allied health studies, and research-driven education.
Bhaikaka University recognized u/s 35(1)(ii) of the Income Tax Act, 1961, is now eligible for scientific research funding and tax benefits.
Important Points from Notification S.O. 673(E)
In exercise of the powers granted via 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 ‘Bhaikaka University’ Anand, Gujarat (PAN: AAGAB9280N) for ‘Scientific Research’ under the category of ‘University, college or other institution’ for 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.
- This Notification will apply w.e.f the date of publication in the Official Gazette (i.e. from the Previous Year 2024-25) and as per that it will be applicable for Assessment Years 2025-26 to 2029-30.
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CASTRO JAYAPRAKASH T., Under Secy. Explanatory Memorandum: It is certified that no person is being adversely affected by granting retrospective effect to this notification.
