Connect with us

India Hot Topics

Contributions to Patanjali Research Foundation to be eligible for I-T relief

Published

on

Contributions to Patanjali Research Foundation to be eligible for I-T relief

The Central Board of Direct Taxes (CBDT) has notified Patanjali Research Foundation Trust as a ‘research association’ for scientific research, implying donations to the Trust will be eligible for income tax deduction.

The CBDT has granted the status under Section 35(1)(ii) of the Income-tax Act for five years with effect from financial year 2021-22. Section 35 of the Income-tax Act provides for deduction of expenditure of an amount equal to one-and-one-half times of any sum paid to a research association which has as its object the undertaking of scientific research or to a university, college or other institution to be used for scientific research.

A business entity that pays any amount to the Trust for scientific research shall be eligible to claim the expense as deduction from business income under Section 35, thereby reducing their tax outgo. A taxpayer is permitted to deduct any amount paid to an ‘approved scientific research association’ for undertaking scientific research in computing the income under the head of business and profession.

The previously notified status under Section 35 (1) was granted to Bennett University, Greater Noida, Uttar Pradesh under the category of ‘University, College or other institution’ for Scientific Research and Research in Social Science and Statistical Research on March 9, 2021. Before that, in the last one year, similar notified status was granted to Institute of Pesticide Formulation Technology, Gurgaon, on January 28, 2020 and to Indian Institute of Technology (Indian School of Mines), Dhanbad on January 3, 2020.

Advertisement

Neha Malhotra, director, Nangia Andersen LLP, said such provisions serve as tax incentives for spending on scientific research. “Tax breaks in the form of deduction of expenses incurred for specified purposes channelises the funds of the taxpayers in the desired area of investment, that is scientific research in this case. Such provisions serve as a tax incentive for the taxpayer spending on scientific research and source of funds for the research association.”

News Source : Business Line

Haryana

Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Published

on

By

Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.

The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.

Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.

With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.

Advertisement

The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.

Weather and AQI predictions in Delhi for next 7 days:

DateTemperatureSky
October 23, 202432.93 °CSky is clear
October 24, 202432.69 °CSky is clear
October 25, 202432.5 °CSky is clear
October 26, 202432.07 °CSky is clear
October 27, 202430.69 °CSky is clear
October 28, 202431.29 °CSky is clear
October 29, 202432.09 °CSky is clear

Weather in other cities on October 22, 2024

CityTemperatureSky
Mumbai28.35 °CLight rain
Kolkata28.84 °CSky is clear
Chennai28.94 °CLight rain
Bengaluru25.53 °CModerate rain
Hyderabad27.75 °CModerate rain
Ahmedabad31.9 °CSky is clear
Delhi32.93 °CSky is clear

Group Media Publications
Entertainment News Platforms – anyflix.in      
Construction Infrastructure and Mining News Platform – https://cimreviews.com/
General News Platform – https://ihtlive.com/

Advertisement
Continue Reading
Anyskill-ads

Facebook

Trending